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SOUND TRANSIT ST2 FINANCIAL MODEL-A
Version:
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
Model Name Seed Model Changes Made By Date
Phase 2 Model Jan 7 2008 None Created Brian McCartan 1/1/2008
Alternative Phase 2 FP Base Feb 26 2008.xls Alternative Phase 2 FP Base Feb 25 2008.xls Broke / removed all formula and named reference Brent Baker 2/26/2008
links to other files (primarily various versions of the
SM financial model)
Alternative Phase 2 FP Base March 3 2008.xls Alternative Phase 2 FP Base Feb 26 2008.xls [Changes were not done to Debt or Principal Brian Palmer 3/3/2008
worksheets] Hid rows beyond 2050, added column
for total, row aligned between sheets, created
consistent formatting as shown in Formatting
Legend
Alternative Phase 2 FP Base March 4 2008.xls Alternative Phase 2 FP Base March 3 2008.xls [Changes were not done to Debt or Principal Brian Palmer 3/4/2008
worksheets] Crated input worksheets to act as a
central location for all assumptions or external
inputs
Alternative Phase 2 FP Base March 5 2008.xls Alternative Phase 2 FP Base March 4 2008.xls [Changes were not done to Debt or Principal Brian Palmer 3/5/2008
worksheets] Crated input worksheets to act as a
central location for all assumptions or external
inputs
Alternative Phase 2 FP Base March 6 2008.xls Alternative Phase 2 FP Base March 5 2008.xls Consolidated cost worksheets, added regional and Brian Palmer 3/6/2008
removed subarea tax rates, adjusted fare revenue
formula
Alternative Phase 2 FP Base March 7 2008.xls Alternative Phase 2 FP Base March 6 2008.xls Renamed cost categories to match I/O model, Brian Palmer 3/7/2008
made 2009 first model year
Alternative Phase 2 FP Base 10-MAR-08.xls Alternative Phase 2 FP Base March 7 2008.xls Adjusted cost escalation methodology for values Brian Palmer 3/10/2008 to 3/16/2008
beyond 2031, updated ridership and fare per
boarding data, attempted to verify results with
SM/ST2 model
Alternative Phase 2 FP Base 17-MAR-08.xls Alternative Phase 2 FP Base 10-MAR-08.xls Attempted to verify results with SM/ST2 model Brian Palmer 3/17/2008 to 3/20/2008
Alt Phase 2 FP Base 26-MAR-08.xls Alternative Phase 2 FP Base 17-MAR-08.xls Updated Inputs, SM debt assumptions still in place TBB 3/26/2008
Alt Phase 2 FP Base 9-APR-08.xls Alt Phase 2 FP Base 26-MAR-08.xls Removed interest earnings that are imported from Brian Palmer 4/9/2008
SM model to eliminate double counting.
Alt Phase 2 FP Base 16-APR-08.xls Alt Phase 2 FP Base 9-APR-08.xls Added DSCR "Coverage" sheet Brent Baker 4/16/2008
Alt Phase 2 FP Base 05-May-08.xls Alt Phase 2 FP Base 16-APR-08.xls Added subarea equity tab Brian McCartan 5/4/2008
Added subarea cash flow tab
Extended O&M growth 2031-2050 at inflation
Alt_Phase_2_FP_Base_5-30-08 0.5% PB Alt Phase 2 FP Base 05-May-08.xls Linked Alt model inputs to ST2+SM model and SM Brian Palmer 5/30/2008
only model
2008 ST2 Agency Financial Model 0.5% (6-5-08) Alt_Phase_2_FP_Base_5-30-08 0.5% PB Consolidated S&U tab with subareas sheets. Brian McCartan 6/5/2008
Reordered S&U to allow for annual easy balances.
Updated other s&U tabs as well. O&M costs were
grown at 4.89% starting in 2030.
2008 ST2 Agency Financial Model 0.5% 15-year (62008 ST2 Agency Financial Model 0.5% (6-5-08) Added O&M real escalation factors to Cost Indices Brian Palmer 6/12/2008
sheet. Modified O&M escalation factors in Costs
and Sources and Uses sheets. Redirected links to
2008 FM SM-ST2 Consolidated 0.5%.xls to FM
ST2 2023 6-6-08.xls. Changed all sum functions
in column C of relevant sheets to extend to 2023
instead of 2020. Modified Sources and Uses sheet
to delete subarea values in years 2021 to 2023.
2008 ST2 Agency Financial Model 0.5% 15-year (62008 ST2 Agency Financial Model 0.5% 15-year (6Modified formulas in Cost sheet rows 94 to 96 to Brian Palmer 6/20/2008
eliminate the potential for error messages.
2008 ST2 Alt FM 0.5% 15-yr 6-25-08.xls 2008 ST2 Agency Financial Model 0.5% 15-year (6Updated for current 15 year plan Brent Baker 6/25/2008
2008 ST2 Alt FM 0.5% 15-yr 7-10-08.xls 2008 ST2 Alt FM 0.5% 15-yr 6-25-08.xls Updated for best guess on tax, inflation and FFGA Brian McCartan 6/26-6/30
changes from Sound Move. Changed S &U tab to
put in cash flows by subarea from 2009. Changed
summary S&U tab
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls 2008 ST2 Alt FM 0.5% 15-yr 7-10-08.xls — Updated for current 15 year plan Brent Baker 7/16/2008
— Moved component inputs to ST2 only Fare
Revenues to the InpRow sheet
— Re-linked data from the SM only and SM + ST2
models (7/16/08 versions)
— Changed Minimum Cash Balance in cell C6 of
sheet Debt to 5,000 (5 M) from 50,000 (50 M)
— Changed cell B9 of sheet Cost Indices to match
Seattle CPI-U value for 2007 in SM + ST2
Financial Model (Note: this value is close to but not
exactly equal to actual 2007 BLS CPI-U for Seattle
of 215.656)
— Cleaned up extension 2040+ extension
formulas (multiple sheets)
— Updated directions in Instructions sheet
— Modified formatting legend in sheet "Instruction"
& applied formatting rules
2009 ST2 FM-A 0.5% 7-18-08 TRB 2008 ST2 Alt FM 0.5% 15-yr 7-10-08.xls New inflation forecast BMC 7/17/2008
Merrill Lynch fixed manual bonding functions BMC 7/17/2008
cleaned up subarea variances BMC 7/17/2008
put in formulas into S&U to attribute interest BMC 7/17/2008
earnings to subareas if earnings are excess to
funding req.
SOUND TRANSIT ALTERNATIVE ST2 FINANCIAL MODEL
Instructions
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
Step 1 From the Sound Move only version of the financial model (e.g., FM SM
Only 7-16-08.xls), sheet 'Subarea Cash Flows':
(a) Run the run the 'Clear ST2 X-fers' macro;
(b) Run the 'Size Debt' macro; and
(c) Run the 'Place ST2 X-fer Values' macro to transfer the free cash
flow from the SM only model to this Alternative ST2 Financial Model.
Step 2 Verify/update links that import data values from the Sound Move only
model (sheets InpRow and InpColumn).
Step 3 From a version of the input/output workbook (e.g., I-O ST2 0.5 2023
Base 7-16-08.xls), in sheet 'Analysis', click the 'Run ST Model' button to
export the ST2 program costs to the detailed ST2 model and run its debt
sizing macro.
Step 4 Verify/update links that import data values from the combined ST2 and
Sound Move model (e.g., FM ST2 2023 7-16-08.xls) into sheets 'InpRow'
and 'InpColumn'.
Step 5 Check all other inputs in sheets 'InpRow' and 'InpColumn' of this model,
INCLUDING setting the appropriate sales & use tax rate as either a
constant or variable by period.
Step 6 From the I-O workbook, click on 'Run Alt ST2 Financial Model' in sheet
'Alt Model Analysis' to automatically place ST2 program capital and O&M
costs in sheet 'InpRow' of this file and run the debt sizing macro.
Step 7 The debt sizing macro can be re-run from the 'Debt' sheet of this file or
by using the button at the right.
Formatting Legend
Open item requiring resolution Yellow Shading
Input Light Yellow Shading
Called up from a sheet to the right or a row below* Gray Shading
Called up/imported from another worksheet Blue Text
Exported to another worksheet Red Text
Imported from another workbook — manually placed via macro Light Blue Shading
Imported from another workbook — automatically via link formula Light Green Shading
* The model generally flows from top to bottom, left to right.
SOUND TRANSIT ST2 FINANCIAL MODEL-A
User Column Inputs (Constants)
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
Unit Value
Reference Files for Input
Sound Move only seed model file name: file name FM SM Only 7-16-08.xls
SM + ST2 seed model file name: file name FM ST2 2023 7-16-08.xls
Input-Output workbook file name: file name I-O ST2 0.5 2023 Base 7-16-08.xls
Name of this file: file name 2008 ST2 FM-A 0 5% 15-yr 7-18-08
Tax Rate
User selection Input Tax Rate:
Phase 2 Sales & Use Tax Rate (2009 forward) % 0.5% dynamic
0.0%
To override the single sales & use tax rate and apply 0.3%
the rate to vary by year, choose variable in cell D15 0.4%
and change the individual tax rates in sheet InpRow. 0.5%
Variable
First Year Reduction to Tax Revenue (2009) % 50%
Sales & Use Tax Base - 2008
Imported from Tax Base Forecast sheet (M10-M14) in SM only model.
Snohomish Nominal $000s 8,640,513
North King Nominal $000s 19,707,484
South King Nominal $000s 13,018,306
East King Nominal $000s 19,377,909
Pierce Nominal $000s 11,580,723
Tax Base — Extended Growth Trends
User input
Sales & Use Tax Base Growth Beyond 2040 % per year 5.30%
Sound Move Cash Surplus — Extended Growth Trends
User input
Sound Move Cash Surplus Growth Beyond 2040 % per year 7.00%
Capital Costs
Imported from Capital Replacement Schedule sheet (C67) in ST2+SM model.
Capital Reserve % of capital costs 1.02% dynamic
Imported from Capital Replacement Schedule sheet (the sum of N68 to R68) in ST2+SM model.
Percentage of Total Capital Costs Applied to Reserve % of capital costs 98.72% dynamic
Ridership and Fares — Extended Growth Trends
2030 to 2040 CAGR
Average Fare Per Boarding
Light Rail Growth Beyond 2040 % per year 2.61%
Commuter Rail Growth Beyond 2040 % per year 2.61%
Regional Express Growth Beyond 2040 % per year 2.61%
Ridership
Light Rail Growth Beyond 2040 % per year 1.14%
Commuter Rail Growth Beyond 2040 % per year 1.23%
Regional Express Growth Beyond 2040 % per year 1.74%
Grant Awards — Extended Growth Trends
3
SOUND TRANSIT ST2 FINANCIAL MODEL-A
User Column Inputs (Constants)
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
Unit Value
2038 to 2040 Average Grants
ST2 Non-New Starts Capital Nominal $000s 9,000
ST2 5307 and 5309 Nominal $000s 55,352
Sources — Extended Growth Trends
2030 to 2040 CAGR
Sound Move
Tax Revenues % per year 4.75%
Fares & Operating Revenue % per year 4.05%
Federal Grants % per year 0.00%
Other Sources % per year 0.00%
Uses — Extended Growth Trends
2030 to 2040 CAGR
Sound Move
Subarea Operating + Non-Cap Costs % per year 4.85%
Capital Expenditures % per year 3.84%
Scheduled Debt Service Payments % per year 0.01%
Early Principal Redemption % per year 0.00%
O&M reserve contribution % per year 4.94%
Capital reserve contribution % per year 1.01%
Minimum GF balance contribution % per year 0.00%
Capital Reserve
User input
2020 ST2 Additional Reserve Nominal $000s -
Operating Reserve
User input
Months of Operating Reserve Months 3
4
s
08 TRB-P.xls
5
6
SOUND TRANSIT ST2 FINANCIAL MODEL-A
User Row Inputs (Time Series)
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Unit 2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
Tax Base
Imported from Tax Base Forecast sheet (rows 10-28) in SM only model.
Sales & Use Tax Base
Snohomish Nominal $000s 201,499,644 9,035,560 9,632,910 10,168,116 10,737,145 11,313,723 11,906,151 12,519,171 13,162,686 13,834,387 14,538,443 15,258,835 16,055,958 16,891,161 17,762,713 18,682,685 19,660,055 20,695,782 21,780,200 22,948,213 24,192,094
North King Nominal $000s 429,082,970 20,354,739 21,549,700 22,570,623 23,642,096 24,719,945 25,829,290 26,969,091 28,155,834 29,387,606 30,672,432 31,972,631 33,439,396 34,983,209 36,579,322 38,257,056 40,029,908 41,893,734 43,828,496 45,898,002 48,085,929
South King Nominal $000s 283,442,226 13,445,867 14,235,230 14,909,628 15,617,419 16,329,420 17,062,228 17,815,154 18,599,089 19,412,769 20,261,495 21,120,376 22,089,287 23,109,094 24,163,449 25,271,721 26,442,826 27,674,026 28,952,085 30,319,152 31,764,446
East King Nominal $000s 421,907,259 20,014,340 21,189,316 22,193,166 23,246,721 24,306,544 25,397,337 26,518,077 27,684,974 28,896,147 30,159,485 31,437,941 32,880,177 34,398,172 35,967,593 37,617,270 39,360,473 41,193,130 43,095,537 45,130,433 47,281,771
Pierce Nominal $000s 263,642,370 12,160,280 12,879,414 13,541,868 14,240,467 14,945,188 15,685,909 16,449,341 17,249,312 18,083,910 18,957,171 19,848,750 20,824,334 21,843,078 22,906,803 24,026,545 25,209,474 26,457,083 27,762,270 29,164,096 30,648,392
MVET Base
Snohomish Nominal $000s 88,439,972 4,127,776 4,321,803 4,523,213 4,747,504 4,999,359 5,268,133 5,537,413 5,813,965 6,089,415 6,367,193 6,650,618 6,958,784 7,307,476 7,672,214 8,055,107 8,464,157 8,897,744 9,367,268 9,873,067 10,420,712
North King Nominal $000s 102,562,190 5,034,423 5,193,106 5,394,168 5,611,617 5,866,309 6,141,707 6,422,356 6,715,143 7,013,139 7,319,513 7,636,414 7,974,546 8,348,554 8,740,211 9,150,984 9,586,556 10,044,302 10,533,502 11,055,471 11,613,249
South King Nominal $000s 87,531,080 4,296,598 4,432,025 4,603,620 4,789,200 5,006,566 5,241,602 5,481,121 5,730,998 5,985,321 6,246,794 6,517,252 6,805,828 7,125,023 7,459,280 7,809,852 8,181,588 8,572,249 8,989,753 9,435,225 9,911,257
East King Nominal $000s 133,932,387 6,574,277 6,781,496 7,044,055 7,328,014 7,660,608 8,020,241 8,386,730 8,769,070 9,158,214 9,558,297 9,972,127 10,413,682 10,902,085 11,413,537 11,949,951 12,518,749 13,116,504 13,755,333 14,436,954 15,165,337
Pierce Nominal $000s 120,045,021 5,714,271 5,892,416 6,115,603 6,374,283 6,694,068 7,053,650 7,423,635 7,816,746 8,218,936 8,635,471 9,070,254 9,511,155 9,991,652 10,498,542 11,034,340 11,609,630 12,220,772 12,885,630 13,605,243 14,386,583
Rental Car Tax Base
Snohomish Nominal $000s 84,249 4,682 4,801 4,923 5,049 5,177 5,309 5,445 5,584 5,726 5,872 6,021 6,175 6,332 6,494 6,659 6,829 7,003 7,182 7,365 7,552
North King Nominal $000s 2,236,889 124,300 127,468 130,717 134,049 137,466 140,970 144,563 148,248 152,027 155,902 159,875 163,950 168,129 172,415 176,810 181,316 185,938 190,677 195,537 200,522
South King Nominal $000s 1,608,986 89,409 91,687 94,024 96,421 98,879 101,399 103,984 106,634 109,352 112,139 114,998 117,929 120,935 124,017 127,178 130,420 133,744 137,153 140,649 144,234
East King Nominal $000s 1,949,991 108,358 111,119 113,952 116,856 119,835 122,889 126,022 129,234 132,528 135,906 139,370 142,923 146,566 150,301 154,132 158,061 162,090 166,221 170,458 174,803
Pierce Nominal $000s 106,592 5,923 6,074 6,229 6,388 6,551 6,717 6,889 7,064 7,244 7,429 7,618 7,813 8,012 8,216 8,425 8,640 8,860 9,086 9,318 9,555
Tax Rate
User selection
Phase 2 Sales & Use Tax Rate — Yearly Overrid % 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
Fixed sales tax rate selected; to enter variable rates, go to 'InpColumn' & select 'Variable' in cell D15
Sound Move Cash Surplus Available for ST2
Imported from Subarea Cash Flows sheet (rows 176, 216, 256, 296) in SM only model.
Snohomish Nominal $000s 463,291 - - - 21,517 24,263 25,861 28,385 31,282 36,834 41,359 42,969 46,244 50,845 54,981 58,753 61,771 68,645 73,977 79,755 85,942
North King Nominal $000s 120,921 - - - - - - 53,221 20,435 - - - - 7,953 15,086 24,226 31,263 36,999 45,920 36,370 24,177
South King Nominal $000s 69,917 - - 1,902 - - - - - 260 - 3,607 11,246 14,368 17,510 21,024 24,864 29,770 34,259 38,597 43,720
East King Nominal $000s 1,297,933 130,433 102,095 - 54,956 55,853 69,407 73,134 77,688 88,724 94,026 97,119 104,078 110,758 116,935 122,727 129,361 136,524 143,903 151,958 160,417
Pierce Nominal $000s 387,458 - - - - 7,515 19,210 21,365 24,115 34,836 38,424 40,449 43,905 48,677 52,607 56,355 61,618 66,763 72,214 78,114 84,490
Total Nominal $000s 2,339,520 130,433 102,095 1,902 76,473 87,630 114,477 176,105 153,521 160,655 173,809 184,145 205,473 232,601 257,117 283,085 308,877 338,701 370,273 384,792 398,746
Capital Costs by Department/Mode
Imported from I/O model - macro driven.
Light Rail — Construction 2007 $000s 5,186,933 123 2,277 13,517 49,970 120,817 217,819 355,552 546,488 759,700 873,362 824,959 659,141 387,549 253,161 122,498 - - - - -
Light Rail — ROW 2007 $000s 996,326 869 18,550 75,385 109,372 106,764 118,714 164,003 193,167 159,249 38,263 3,717 4,727 3,545 - - - - - - -
Light Rail — Other Capital 2007 $000s 1,734,709 1,000 12,782 34,120 61,207 88,035 118,713 176,881 208,345 208,198 149,336 228,852 192,235 138,998 115,139 868 - - - - -
Regional Express — Construction 2007 $000s 135,290 341 5,107 26,100 32,952 39,166 26,144 5,480 - - - - - - - - - - - - -
Regional Express — ROW 2007 $000s 37,067 4,490 17,958 13,613 575 431 - - - - - - - - - - - - - - -
Regional Express — Other Capital 2007 $000s 103,834 3,124 8,118 11,166 8,625 4,065 1,014 5,095 - - 16,687 16,687 16,687 4,189 4,189 4,189 - - - - -
Commuter Rail — Construction 2007 $000s 421,823 604 7,415 37,316 55,070 27,167 5,764 2,774 - 522 7,153 28,397 38,875 63,665 94,976 52,124 - - - - -
Commuter Rail — ROW 2007 $000s 47,386 2,603 10,412 7,975 500 - - - - 1,421 12,105 5,277 4,053 3,040 - - - - - - -
Commuter Rail — Other Capital 2007 $000s 327,130 3,790 9,363 47,560 42,182 39,425 50,787 50,686 38,667 2,796 9,241 10,943 10,170 8,387 2,792 342 - - - - -
Regional Fund — Other Capital 2007 $000s 111,550 18,816 5,000 5,000 5,823 5,000 13,194 5,823 5,000 5,000 5,823 13,194 5,764 6,587 5,764 5,764 1,587 764 1,527 1,527 1,527
O&M Costs by Department/Mode
Imported from I/O model - macro driven.
Light Rail 2007 $000s 159,032 - - - - - - 1,248 2,496 2,496 2,496 2,496 14,922 30,527 43,460 58,890 64,768 69,664 74,559 79,454 84,349
Regional Express 2007 $000s 138,294 6,400 6,400 6,400 6,400 6,400 12,900 13,585 13,770 13,770 13,770 13,770 9,820 5,870 5,870 3,170 470 470 470 470 470
Commuter Rail 2007 $000s 99,767 - - - - 490 980 980 6,680 12,380 12,380 12,380 12,890 13,399 13,399 13,809 14,219 14,219 14,219 14,219 14,219
Regional Fund 2007 $000s 799,398 17,013 27,575 40,163 43,648 46,183 51,319 59,529 73,555 79,617 73,306 75,599 66,914 57,015 49,527 38,435 20,850 20,574 20,849 21,124 21,399
Capital Costs by Department/Mode — Subarea Detail
Imported from I/O model - macro driven.
Light Rail
Snohomish 2007 $000s 911,969 - - - - - - 18,376 42,604 59,740 81,060 110,208 150,669 214,374 176,471 58,467 - - - - -
North King 2007 $000s 2,325,687 - 418 23,451 85,531 132,742 180,181 231,791 266,561 312,164 299,916 304,914 253,747 115,589 79,896 38,786 - - - - -
South King 2007 $000s 1,332,190 - - - - - 18,497 78,819 147,378 214,938 240,012 212,197 153,700 133,995 107,071 25,583 - - - - -
East King 2007 $000s 3,152,797 - 26,126 87,740 117,454 163,965 239,640 349,133 460,382 507,277 421,152 417,594 292,565 64,641 4,597 530 - - - - -
Pierce 2007 $000s 195,325 1,992 7,064 11,831 17,563 18,909 16,928 18,317 31,076 33,028 18,820 12,615 5,422 1,494 264 - - - - - -
Regional Express Bus
Snohomish 2007 $000s 44,949 1,422 5,237 6,806 6,679 6,117 2,932 - - - 3,743 3,743 3,743 1,508 1,508 1,508 - - - - -
North King 2007 $000s - - - - - - - - - - - - - - - - - - - - -
South King 2007 $000s 84,651 922 5,291 17,229 9,128 13,418 12,661 5,575 - - 4,129 4,129 4,129 2,680 2,680 2,680 - - - - -
East King 2007 $000s 98,370 3,700 13,621 17,702 17,372 15,910 7,626 5,000 - - 5,813 5,813 5,813 - - - - - - - -
Pierce 2007 $000s 48,222 1,911 7,035 9,142 8,972 8,217 3,939 - - - 3,002 3,002 3,002 - - - - - - - -
Commuter Rail
Snohomish 2007 $000s 54,603 - - - - - - - - - 10,578 12,368 11,889 5,971 8,908 4,889 - - - - -
North King 2007 $000s - - - - - - - - - - - - - - - - - - - - -
South King 2007 $000s 92,240 1,225 4,875 11,840 16,283 11,268 9,155 7,184 - - - 1,332 4,803 9,056 10,025 5,194 - - - - -
East King 2007 $000s - - - - - - - - - - - - - - - - - - - - -
Pierce 2007 $000s 649,497 5,773 22,314 81,012 81,468 55,324 47,397 46,276 38,667 4,740 17,921 30,918 36,406 60,064 78,834 42,383 - - - - -
Regional Fund
Regional Fund 2007 $000s 111,550 18,816 5,000 5,000 5,823 5,000 13,194 5,823 5,000 5,000 5,823 13,194 5,764 6,587 5,764 5,764 1,587 764 1,527 1,527 1,527
O&M Costs by Department/Mode — Subarea Detail
Imported from I/O model - macro driven.
Light Rail
Snohomish 2007 $000s 16,737 - - - - - - - - - - - - - 5,068 11,669 13,304 14,309 15,315 16,320 17,326
North King 2007 $000s 65,867 - - - - - - 1,248 2,496 2,496 2,496 2,496 7,655 14,203 15,591 17,186 18,815 20,237 21,659 23,081 24,503
South King 2007 $000s 16,024 - - - - - - - - - - - 134 298 4,972 10,619 11,646 12,526 13,406 14,286 15,167
7
SOUND TRANSIT ST2 FINANCIAL MODEL-A
User Row Inputs (Time Series)
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Unit 2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
East King 2007 $000s 60,405 - - - - - - - - - - - 7,133 16,026 17,829 19,417 21,004 22,592 24,179 25,767 27,354
Pierce 2007 $000s - - - - - - - - - - - - - - - - - - - - -
Regional Express Bus
Snohomish 2007 $000s 45,499 1,700 1,700 1,700 1,700 1,700 3,889 3,979 3,979 3,979 3,979 3,979 3,979 3,979 3,979 1,279 (1,421) (1,421) (1,421) (1,421) (1,421)
North King 2007 $000s - - - - - - - - - - - - - - - - - - - - -
South King 2007 $000s 15,246 400 400 400 400 400 958 1,201 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386
East King 2007 $000s 50,768 3,400 3,400 3,400 3,400 3,400 5,933 6,165 6,165 6,165 6,165 6,165 2,215 (1,735) (1,735) (1,735) (1,735) (1,735) (1,735) (1,735) (1,735)
Pierce 2007 $000s 26,782 900 900 900 900 900 2,120 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240
Commuter Rail
Snohomish 2007 $000s 3,567 - - - - - - - - - - - 510 1,019 1,019 1,019 1,019 1,019 1,019 1,019 1,019
North King 2007 $000s - - - - - - - - - - - - - - - - - - - - -
South King 2007 $000s 2,520 - - - - 120 240 240 240 240 240 240 240 240 240 240 240 240 240 240 240
East King 2007 $000s - - - - - - - - - - - - - - - - - - - - -
Pierce 2007 $000s 93,680 - - - - 370 740 740 6,440 12,140 12,140 12,140 12,140 12,140 12,140 12,550 12,960 12,960 12,960 12,960 12,960
Regional Fund
Regional Fund 2007 $000s 799,398 17,013 27,575 40,163 43,648 46,183 51,319 59,529 73,555 79,617 73,306 75,599 66,914 57,015 49,527 38,435 20,850 20,574 20,849 21,124 21,399
Ridership and Fares
Imported from Fare Revenue Forecast sheet (rows 95, 111, & 103) in ST2+SM model.
Average Fare Per Boarding Imported from Fare Revenue Forecast sheet (rows 95, 103, & 111) in ST2+SM model.
Light Rail Nominal $ 18 1.00 1.03 1.04 1.07 1.09 1.11 1.14 1.16 1.19 1.22 1.25 1.27 1.30 1.34 1.37 1.40 1.44 1.47 1.51 1.55
Commuter Rail Nominal $ 56 3.15 3.24 3.32 3.39 3.47 3.55 3.63 3.71 3.79 3.88 3.97 4.06 4.16 4.26 4.36 4.46 4.57 4.68 4.80 4.92
Regional Express Nominal $ 24 1.34 1.38 1.41 1.44 1.48 1.51 1.54 1.58 1.61 1.65 1.69 1.73 1.77 1.81 1.85 1.90 1.94 1.99 2.04 2.09
Imported from Fare Revenue Forecast sheet (rows 73, 23 & 48) in ST2+SM model.
Ridership
Light Rail 000s 89,237 - - - - - - - - - 4,837 7,045 9,504 16,619 22,282 28,951 36,139 37,223 38,340 39,267 43,713
Commuter Rail 000s 14,580 - - - - 61 124 125 947 1,789 1,811 1,833 1,893 1,953 1,977 2,065 2,156 2,182 2,209 2,236 2,263
Regional Express 000s 24,118 1,030 1,030 1,045 1,072 1,099 2,201 2,341 2,401 2,436 2,472 2,508 1,807 1,084 1,101 491 (139) (141) (143) (145) (147)
Imported from Fare Revenue Forecast sheet (rows 65-85) in SM Only model.
Sound Move Fare Revenues
Snohomish Nominal $000s 78,008 3,617 4,013 4,214 4,385 4,563 4,748 4,940 5,140 5,348 5,565 5,790 6,031 6,283 6,547 6,823 7,110 7,410 7,723 8,058 8,409
North King Nominal $000s 284,001 2,288 7,740 8,373 8,855 9,355 9,871 10,405 15,899 25,641 27,004 28,439 29,984 31,619 33,350 35,177 36,384 37,634 38,930 40,316 41,753
South King Nominal $000s 125,123 3,720 5,274 6,053 6,335 6,628 6,931 7,246 7,341 9,416 9,836 10,276 10,747 11,243 11,765 12,312 12,784 13,274 13,785 14,332 14,902
East King Nominal $000s 159,228 7,874 8,146 8,515 8,870 9,240 9,624 10,024 10,441 10,876 11,329 11,800 12,304 12,833 13,387 13,965 14,569 15,199 15,858 16,564 17,302
Pierce Nominal $000s 165,706 6,944 7,826 9,099 9,458 9,832 10,220 10,622 11,041 11,476 11,929 12,399 12,902 13,428 13,978 14,552 15,149 15,772 16,421 17,117 17,842
Total Nominal $000s 812,065 24,442 33,000 36,254 37,904 39,618 41,393 43,237 49,862 62,757 65,663 68,704 71,968 75,406 79,027 82,829 85,996 89,289 92,717 96,388 100,208
Imported from Fare Revenue Forecast sheet (rows 65-85) in ST2+SM model.
SM +ST2 Consolidated Fare Revenues
Snohomish Nominal $000s 99,666 4,055 4,482 4,702 4,897 5,099 5,939 6,205 6,452 6,710 6,977 7,256 7,704 8,177 8,516 12,496 16,627 17,451 18,319 19,027 19,764
North King Nominal $000s 354,803 2,288 7,740 8,373 8,855 9,355 9,871 10,405 15,899 25,641 31,094 35,310 39,713 45,055 50,201 55,004 60,037 62,583 65,250 68,001 75,282
South King Nominal $000s 147,390 3,790 5,343 6,125 6,410 6,741 7,195 7,571 7,719 9,808 12,044 12,598 13,570 14,729 15,809 17,938 20,071 20,953 21,878 22,871 23,912
East King Nominal $000s 196,904 8,591 8,884 9,282 9,676 10,086 11,162 11,682 12,161 12,660 13,178 13,718 13,020 17,469 22,134 23,201 24,320 25,495 26,729 28,056 30,441
Pierce Nominal $000s 228,409 7,099 7,966 9,246 9,613 10,172 10,986 11,440 14,933 18,656 19,362 20,094 20,877 21,695 22,550 23,720 24,946 25,930 26,955 28,054 29,198
Total Nominal $000s 1,027,174 25,823 34,415 37,728 39,450 41,453 45,154 47,303 57,164 73,474 82,655 88,975 94,884 107,126 119,210 132,359 146,000 152,413 159,131 166,010 178,598
Grant Awards
Imported from Grant Awards sheet (rows 69 and 61) in ST2+SM model.
FFGA Nominal $000s 600,000 - - - 20,000 40,000 50,000 75,000 90,000 120,000 120,000 85,000 - - - - - - - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 - 31,000 14,000 19,000 26,000 20,000 14,000 39,000 4,000 10,000 18,000 10,000 4,000 24,000 4,000 6,000 12,000 6,000 4,000 14,000
ST2 5307 and 5309 Nominal $000s 58,499 - - - 2,666 1,620 1,916 2,156 3,743 6,263 7,493 4,399 4,932 5,275 5,915 12,121 15,687 13,397 13,512 13,559 13,829
Sources
Imported from Subarea Cash Flows sheet (rows 358-365) in SM only model.
Sound Move
Tax Revenues Nominal $000s 7,990,067 377,937 397,324 416,500 436,319 456,973 478,487 500,611 523,654 547,516 572,330 597,707 625,423 655,048 685,916 718,321 752,604 788,744 826,661 867,147 910,210
Fares & Operating Revenue Nominal $000s 812,065 24,442 33,000 36,254 37,904 39,618 41,393 43,237 49,862 62,757 65,663 68,704 71,968 75,406 79,027 82,829 85,996 89,289 92,717 96,388 100,208
Interest Earnings (DSR) Nominal $000s 468,913 8,601 11,338 11,976 12,455 14,984 17,758 21,225 26,549 33,311 36,721 42,281 47,744 53,979 61,077 68,915 77,539 86,942 97,248 108,507 120,210
Federal Grants (Capital) Nominal $000s 909,265 90,785 125,080 110,000 110,000 110,000 110,000 110,000 143,400 - - - - - - - - - - - -
Federal Grants (Formula) Nominal $000s 479,139 25,864 24,636 22,208 26,862 28,568 28,959 29,373 29,855 31,263 34,409 38,358 38,525 39,170 40,134 40,955 41,365 44,762 45,316 45,857 46,315
Grant Anticipation Notes Nominal $000s - - - - - - - - - - - - - - - - - - - - -
Inter-subarea Transfers Nominal $000s - - - - - - - - - - - - - - - - - - - - -
Other Sources Nominal $000s 80,944 5,567 5,778 5,991 3,602 7,352 3,602 852 14,027 14,633 15,282 852 852 852 852 852 852 852 852 852 852
Uses
Imported from Subarea Cash Flows sheet (rows 368-377) in SM only model.
Sound Move
Subarea Operating + Non-Cap Costs Nominal $000s 3,766,108 150,489 182,523 190,129 196,222 203,124 214,861 223,744 236,044 265,305 283,961 297,978 307,603 322,340 337,797 353,989 370,945 388,708 407,324 427,063 447,752
Subarea capital projects (Bus,CR,LRT, Tran Svcs) Nominal $000s 2,594,370 635,613 487,926 401,923 343,054 271,214 159,131 98,513 83,888 70,515 22,466 7,819 2,286 3,027 3,167 3,831 5,011 7,649 7,767 25,295 47,706
Regional Fund O&M Nominal $000s 375,006 17,107 19,587 21,222 21,355 22,250 22,959 23,906 24,667 25,684 26,573 27,733 28,705 29,951 30,978 32,331 33,441 34,900 36,201 37,551 38,952
Regional Fund capital projects Nominal $000s 76,214 11,432 3,428 3,520 3,667 3,820 3,981 4,151 4,328 3,140 3,255 9,930 10,275 3,626 3,761 3,900 4,046 4,196 4,353 4,520 4,693
Scheduled Debt Service Payments Nominal $000s 2,066,901 78,675 90,074 114,219 124,476 135,558 140,560 145,844 145,678 145,550 143,009 158,913 159,805 160,803 161,867 161,870 161,931 161,936 161,941 161,948 161,956
GAN Repayments Nominal $000s - - - - - - - - - - - - - - - - - - - - -
O&M reserve contribution Nominal $000s 55,690 1,010 8,628 2,311 1,556 1,949 3,112 2,457 3,265 7,569 4,886 3,794 2,649 3,996 4,121 4,386 4,517 4,806 4,979 5,272 5,522
Capital reserve contribution Nominal $000s 747,959 24,350 24,350 24,350 33,271 32,734 31,965 31,965 67,597 67,639 67,956 67,956 68,021 68,101 68,212 69,495 69,637 69,746 70,018 72,377 72,545
Cash Transfer from Sound Move to ST2 Nominal $000s 2,339,520 130,433 102,095 1,902 76,473 87,630 114,477 176,105 153,521 160,655 173,809 184,145 205,473 232,601 257,117 283,085 308,877 338,701 370,273 384,792 398,746
Minimum GF balance contribution Nominal $000s - - - - - - - - - - - - - - - - - - - - -
8
SOUND TRANSIT ST2 FINANCIAL MODEL-A
User Row Inputs (Time Series)
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
21 22 23 24 25 26 27 28 29 30 31 32
Unit 2009-2023 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
Tax Base
Imported from Tax Base Forecast sheet (rows 10-28) in SM only model.
Sales & Use Tax Base
Snohomish Nominal $000s 201,499,644 25,517,376 26,929,525 28,387,913 29,847,246 31,360,282 32,956,501 34,652,359 36,455,060 38,361,061 40,373,620 42,496,448 44,737,229
North King Nominal $000s 429,082,970 50,399,978 52,845,557 55,326,962 57,790,370 60,368,066 63,103,888 66,011,158 69,094,568 72,335,803 75,734,030 79,295,242 83,031,669
South King Nominal $000s 283,442,226 33,293,053 34,908,545 36,547,703 38,174,974 39,877,740 41,684,960 43,605,435 45,642,264 47,783,348 50,028,138 52,380,592 54,848,788
East King Nominal $000s 421,907,259 49,557,121 51,961,801 54,401,709 56,823,921 59,358,509 62,048,579 64,907,229 67,939,074 71,126,105 74,467,503 77,969,159 81,643,100
Pierce Nominal $000s 263,642,370 32,220,609 33,878,966 35,597,052 37,338,973 39,156,859 41,064,695 43,076,332 45,201,885 47,440,980 49,798,353 52,278,100 54,887,712
MVET Base
Snohomish Nominal $000s 88,439,972 11,015,624 11,673,515 12,412,730 13,189,092 13,981,711 14,799,901 15,649,960 16,562,577 17,573,327 18,682,581 19,878,171 21,146,005
North King Nominal $000s 102,562,190 12,210,015 12,855,669 13,564,750 14,314,514 15,097,209 15,916,647 16,773,117 17,688,170 18,685,303 19,762,662 20,911,847 22,122,772
South King Nominal $000s 87,531,080 10,420,563 10,971,593 11,576,754 12,216,636 12,884,621 13,583,966 14,314,915 15,095,861 15,946,859 16,866,324 17,847,089 18,880,546
East King Nominal $000s 133,932,387 15,944,633 16,787,770 17,713,734 18,692,825 19,714,918 20,784,995 21,903,429 23,098,364 24,400,486 25,807,370 27,308,051 28,889,356
Pierce Nominal $000s 120,045,021 15,236,945 16,178,536 17,244,100 18,379,313 19,553,143 20,776,594 22,053,850 23,430,640 24,960,824 26,645,530 28,467,305 30,405,150
Rental Car Tax Base
Snohomish Nominal $000s 84,249 7,745 7,942 8,145 8,352 8,565 8,783 9,007 9,237 9,472 9,714 9,961 10,215
North King Nominal $000s 2,236,889 205,633 210,874 216,249 221,761 227,414 233,210 239,154 245,250 251,501 257,912 264,486 271,227
South King Nominal $000s 1,608,986 147,911 151,681 155,547 159,512 163,578 167,747 172,023 176,408 180,904 185,515 190,244 195,093
East King Nominal $000s 1,949,991 179,259 183,828 188,513 193,318 198,246 203,299 208,481 213,795 219,244 224,833 230,564 236,440
Pierce Nominal $000s 106,592 9,799 10,049 10,305 10,567 10,837 11,113 11,396 11,687 11,985 12,290 12,603 12,925
Tax Rate
User selection
Phase 2 Sales & Use Tax Rate — Yearly Overrid % 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
Fixed sales tax rate selected; to enter variable rates, go to 'InpColumn' & select
Sound Move Cash Surplus Available for ST2
Imported from Subarea Cash Flows sheet (rows 176, 216, 256, 296) in SM only mode
Snohomish Nominal $000s 463,291 59,095 63,491 68,505 73,347 78,312 83,590 89,261 95,344 101,706 108,641 116,047 123,937
North King Nominal $000s 120,921 42,991 51,802 60,662 65,430 74,597 84,423 94,944 106,185 118,094 130,654 143,887 157,853
South King Nominal $000s 69,917 18,257 21,769 25,474 27,682 31,162 34,973 39,108 43,597 48,378 53,455 58,843 64,557
East King Nominal $000s 1,297,933 121,949 127,901 137,503 143,449 149,653 156,267 163,424 171,094 179,254 187,831 197,198 207,091
Pierce Nominal $000s 387,458 44,805 48,896 52,753 56,524 60,587 64,917 69,536 74,479 79,749 85,426 91,480 97,937
Total Nominal $000s 2,339,520 287,097 313,858 344,896 366,432 394,312 424,170 456,273 490,699 527,182 566,007 607,454 651,375
Capital Costs by Department/Mode
Imported from I/O model - macro driven.
Light Rail — Construction 2007 $000s 5,186,933 - - -
Light Rail — ROW 2007 $000s 996,326 - - -
Light Rail — Other Capital 2007 $000s 1,734,709 - - -
Regional Express — Construction 2007 $000s 135,290 - - -
Regional Express — ROW 2007 $000s 37,067 - - -
Regional Express — Other Capital 2007 $000s 103,834 - - -
Commuter Rail — Construction 2007 $000s 421,823 - - -
Commuter Rail — ROW 2007 $000s 47,386 - - -
Commuter Rail — Other Capital 2007 $000s 327,130 - - -
Regional Fund — Other Capital 2007 $000s 111,550 1,527 1,527 1,527
O&M Costs by Department/Mode
Imported from I/O model - macro driven.
Light Rail 2007 $000s 159,032 89,245 94,140 94,140
Regional Express 2007 $000s 138,294 470 470 470
Commuter Rail 2007 $000s 99,767 14,219 14,219 14,219
Regional Fund 2007 $000s 799,398 21,674 21,950 21,950
Capital Costs by Department/Mode — Subarea Detail
Imported from I/O model - macro driven.
Light Rail
Snohomish 2007 $000s 911,969 - - -
North King 2007 $000s 2,325,687 - - -
South King 2007 $000s 1,332,190 - - -
East King 2007 $000s 3,152,797 - - -
Pierce 2007 $000s 195,325 - - -
Regional Express Bus
Snohomish 2007 $000s 44,949 - - -
North King 2007 $000s - - - -
South King 2007 $000s 84,651 - - -
East King 2007 $000s 98,370 - - -
Pierce 2007 $000s 48,222 - - -
Commuter Rail
Snohomish 2007 $000s 54,603 - - -
North King 2007 $000s - - - -
South King 2007 $000s 92,240 - - -
East King 2007 $000s - - - -
Pierce 2007 $000s 649,497 - - -
Regional Fund
Regional Fund 2007 $000s 111,550 1,527 1,527 1,527
O&M Costs by Department/Mode — Subarea Detail
Imported from I/O model - macro driven.
Light Rail
Snohomish 2007 $000s 16,737 18,331 19,337 19,337
North King 2007 $000s 65,867 25,925 27,347 27,347
South King 2007 $000s 16,024 16,047 16,927 16,927
9
SOUND TRANSIT ST2 FINANCIAL MODEL-A
User Row Inputs (Time Series)
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
21 22 23 24 25 26 27 28 29 30 31 32
Unit 2009-2023 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
East King 2007 $000s 60,405 28,942 30,529 30,529
Pierce 2007 $000s - - - -
Regional Express Bus
Snohomish 2007 $000s 45,499 (1,421) (1,421) (1,421)
North King 2007 $000s - - - -
South King 2007 $000s 15,246 1,386 1,386 1,386
East King 2007 $000s 50,768 (1,735) (1,735) (1,735)
Pierce 2007 $000s 26,782 2,240 2,240 2,240
Commuter Rail
Snohomish 2007 $000s 3,567 1,019 1,019 1,019
North King 2007 $000s - - - -
South King 2007 $000s 2,520 240 240 240
East King 2007 $000s - - - -
Pierce 2007 $000s 93,680 12,960 12,960 12,960
Regional Fund
Regional Fund 2007 $000s 799,398 21,674 21,950 21,950
Ridership and Fares
Imported from Fare Revenue Forecast sheet (rows 95, 111, & 103) in ST2+SM model.
Average Fare Per Boarding Imported from Fare Revenue Forec
Light Rail Nominal $ 18 1.58 1.63 1.67 1.71 1.76 1.80 1.85 1.90 1.95 2.00 2.05 2.10
Commuter Rail Nominal $ 56 5.05 5.18 5.31 5.45 5.59 5.74 5.89 6.04 6.20 6.36 6.53 6.70
Regional Express Nominal $ 24 2.15 2.20 2.26 2.31 2.38 2.44 2.50 2.57 2.63 2.70 2.77 2.85
Imported from Fare Revenue Forecast sheet (rows 73, 23 & 48) in ST2+SM model.
Ridership
Light Rail 000s 89,237 36,296 37,155 38,038 38,418 38,802 39,190 39,582 39,978 40,378 40,782 41,189 41,601
Commuter Rail 000s 14,580 2,291 2,319 2,348 2,376 2,406 2,435 2,465 2,495 2,526 2,557 2,588 2,620
Regional Express 000s 24,118 (149) (151) (154) (157) (159) (162) (165) (168) (171) (174) (177) (180)
Imported from Fare Revenue Forecast sheet (rows 65-85) in SM Only model.
Sound Move Fare Revenues
Snohomish Nominal $000s 78,008 8,774 9,157 9,557 9,976 10,422 10,884 11,365 11,867 12,391 12,939 13,513 14,113
North King Nominal $000s 284,001 43,243 44,789 46,397 48,066 49,840 51,661 53,538 55,480 57,496 59,590 61,764 64,021
South King Nominal $000s 125,123 15,495 16,112 16,757 17,429 18,144 18,883 19,648 20,443 21,271 22,135 23,036 23,975
East King Nominal $000s 159,228 18,074 18,882 19,728 20,614 21,558 22,539 23,559 24,624 25,738 26,906 28,127 29,406
Pierce Nominal $000s 165,706 18,600 19,390 20,217 21,082 22,002 22,955 23,945 24,976 26,053 27,178 28,354 29,583
Total Nominal $000s 812,065 104,185 108,330 112,656 117,167 121,967 126,923 132,054 137,389 142,949 148,749 154,796 161,097
Imported from Fare Revenue Forecast sheet (rows 65-85) in ST2+SM model.
SM +ST2 Consolidated Fare Revenues
Snohomish Nominal $000s 99,666 20,531 21,329 22,162 23,029 23,951 24,901 25,885 26,907 27,971 29,080 30,235 31,438
North King Nominal $000s 354,803 69,115 71,993 75,006 77,705 80,571 83,516 86,550 89,690 92,949 96,334 99,849 103,496
South King Nominal $000s 147,390 19,794 20,645 21,536 22,384 23,287 24,219 25,183 26,183 27,226 28,313 29,446 30,625
East King Nominal $000s 196,904 33,118 34,784 36,538 38,022 39,602 41,234 42,926 44,686 46,521 48,437 50,435 52,519
Pierce Nominal $000s 228,409 30,391 31,635 32,933 34,288 35,732 37,223 38,769 40,377 42,055 43,806 45,634 47,539
Total Nominal $000s 1,027,174 172,949 180,385 188,175 195,429 203,143 211,094 219,313 227,844 236,723 245,971 255,598 265,617
Grant Awards
Imported from Grant Awards sheet (rows 69 and 61) in ST2+SM model.
FFGA Nominal $000s 600,000 - - - - - - - - - - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 4,000 6,000 12,000 6,000 4,000 14,000 4,000 6,000 12,000 6,000 4,000 14,000
ST2 5307 and 5309 Nominal $000s 58,499 23,736 24,061 24,275 24,517 39,722 40,119 40,520 40,925 41,334 41,748 61,845 62,463
Sources
Imported from Subarea Cash Flows sheet (rows 358-365) in SM only model.
Sound Move
Tax Revenues Nominal $000s 7,990,067 762,327 800,236 839,165 878,154 918,571 961,249 1,006,513 1,054,507 1,105,075 1,158,203 1,213,972 1,272,558
Fares & Operating Revenue Nominal $000s 812,065 104,185 108,330 112,656 117,167 121,967 126,923 132,054 137,389 142,949 148,749 154,796 161,097
Interest Earnings (DSR) Nominal $000s 468,913 132,339 141,126 150,725 161,263 172,458 184,500 197,447 211,368 226,333 242,405 259,653 278,159
Federal Grants (Capital) Nominal $000s 909,265 - - - - - - - - - - - -
Federal Grants (Formula) Nominal $000s 479,139 46,912 47,381 47,882 48,361 48,845 49,333 49,826 50,325 50,828 51,336 51,849 52,368
Grant Anticipation Notes Nominal $000s - - - - - - - - - - - - -
Inter-subarea Transfers Nominal $000s - - - - - - - - - - - - -
Other Sources Nominal $000s 80,944 852 852 852 852 852 852 852 852 852 852 852 852
Uses
Imported from Subarea Cash Flows sheet (rows 368-377) in SM only model.
Sound Move
Subarea Operating + Non-Cap Costs Nominal $000s 3,766,108 469,440 492,186 516,105 541,217 567,774 595,560 624,661 655,184 687,227 720,873 756,200 793,286
Subarea capital projects (Bus,CR,LRT, Tran Svcs) Nominal $000s 2,594,370 4,410 3,874 - - - - - - - - - -
Regional Fund O&M Nominal $000s 375,006 40,404 41,912 43,475 45,097 46,780 48,526 50,338 52,217 54,166 56,189 58,287 60,465
Regional Fund capital projects Nominal $000s 76,214 4,873 5,061 5,255 5,457 5,666 5,884 6,109 6,344 6,588 6,840 7,103 7,376
Scheduled Debt Service Payments Nominal $000s 2,066,901 161,963 161,972 161,975 161,987 161,992 162,005 162,013 162,024 162,035 162,042 162,057 162,098
GAN Repayments Nominal $000s - - - - - - - - - - - - -
O&M reserve contribution Nominal $000s 55,690 5,785 6,063 6,371 6,683 7,060 7,383 7,728 8,100 8,498 8,917 9,356 9,816
Capital reserve contribution Nominal $000s 747,959 72,725 73,095 73,299 79,037 79,223 79,462 79,713 80,024 80,508 80,851 80,851 80,851
Cash Transfer from Sound Move to ST2 Nominal $000s 2,339,520 287,097 313,858 344,896 366,432 394,312 424,170 456,273 490,699 527,182 566,007 607,454 651,375
Minimum GF balance contribution Nominal $000s - - - - - - - - - - - - -
10
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Cost Indices and Present Value Factors
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
History Projected Values Projected Values Projected Values
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Seattle CPI-U
O&M, Other Capital 2.210 3.51%
CPI-U Index 215.5 227.8 237.7 245.8 253.9 262.2 270.7 279.5 288.6 297.9 307.6 317.6 327.9 339.0 350.4 362.3 374.7 387.5 400.7 414.4 429.0 444.2 459.9 476.3 493.2 510.9
CPI-U Annual Growth Factor 1.041 1.057 1.044 1.034 1.033 1.033 1.033 1.032 1.032 1.032 1.033 1.032 1.032 1.034 1.034 1.034 1.034 1.034 1.034 1.034 1.035 1.035 1.035 1.036 1.036 1.036
CPI-U Annual % Change 4.1% 5.7% 4.4% 3.4% 3.3% 3.3% 3.3% 3.2% 3.2% 3.2% 3.3% 3.2% 3.2% 3.4% 3.4% 3.4% 3.4% 3.4% 3.4% 3.4% 3.5% 3.5% 3.5% 3.6% 3.6% 3.6%
CPI-U Factor 1.0000 1.0569 1.1029 1.1407 1.1781 1.2165 1.2562 1.2970 1.3391 1.3826 1.4275 1.4739 1.5218 1.5729 1.6261 1.6814 1.7387 1.7979 1.8593 1.9229 1.9908 2.0613 2.1343 2.2101 2.2889 2.3706
3.52%
Seattle BCI
Construction 2.323 3.73%
BCI Index 4,578.1 4,852.8 5,071.2 5,263.9 5,443.8 5,646.8 5,843.7 6,054.7 6,264.0 6,485.1 6,713.9 6,969.2 7,217.2 7,466.4 7,725.5 7,997.8 8,279.8 8,576.7 8,895.1 9,218.7 9,557.6 9,906.4 10,262.5 10,636.8 11,025.5 11,428.4
BCI Annual Growth Factor 1.041 1.060 1.045 1.038 1.034 1.037 1.035 1.036 1.035 1.035 1.035 1.038 1.036 1.035 1.035 1.035 1.035 1.036 1.037 1.036 1.037 1.036 1.036 1.036 1.037 1.037
BCI Annual % Change 4.1% 6.0% 4.5% 3.8% 3.4% 3.7% 3.5% 3.6% 3.5% 3.5% 3.5% 3.8% 3.6% 3.5% 3.5% 3.5% 3.5% 3.6% 3.7% 3.6% 3.7% 3.6% 3.6% 3.6% 3.7% 3.7%
BCI Factor 1.0000 1.0600 1.1077 1.1498 1.1891 1.2334 1.2764 1.3225 1.3682 1.4165 1.4665 1.5223 1.5764 1.6309 1.6875 1.7470 1.8086 1.8734 1.9429 2.0136 2.0877 2.1638 2.2416 2.3234 2.4083 2.4963
3.77%
ST ROWI
Right-of-Way 2.847 4.65%
ROW Index 176.8 186.4 196.3 205.1 213.9 223.0 232.7 243.1 254.0 265.7 277.9 291.0 304.7 319.2 334.2 349.8 366.0 382.9 400.6 419.2 438.9 459.3 480.7 503.3 526.8 551.5
ROWI Annual Growth Factor 1.117 1.055 1.053 1.045 1.043 1.043 1.044 1.045 1.045 1.046 1.046 1.047 1.047 1.047 1.047 1.047 1.046 1.046 1.046 1.046 1.047 1.047 1.047 1.047 1.047 1.047
ROWI Annual % Change 11.7% 5.5% 5.3% 4.5% 4.3% 4.3% 4.4% 4.5% 4.5% 4.6% 4.6% 4.7% 4.7% 4.7% 4.7% 4.7% 4.6% 4.6% 4.6% 4.6% 4.7% 4.7% 4.7% 4.7% 4.7% 4.7%
ROW Factor 1.0000 1.0546 1.1103 1.1600 1.2101 1.2617 1.3167 1.3754 1.4372 1.5029 1.5720 1.6461 1.7239 1.8055 1.8905 1.9789 2.0708 2.1663 2.2664 2.3713 2.4827 2.5984 2.7195 2.8470 2.9805 3.1202
4.65%
PV factors for 2007$
2007 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Seattle CPI-U 1.000 0.946 0.907 0.877 0.849 0.822 0.796 0.771 0.747 0.723 0.701 0.678 0.657 0.636 0.615 0.595 0.575 0.556 0.538 0.520 0.502 0.485 0.469 0.452 0.437 0.422
Seattle BCI 1.000 0.943 0.903 0.870 0.841 0.811 0.783 0.756 0.731 0.706 0.682 0.657 0.634 0.613 0.593 0.572 0.553 0.534 0.515 0.497 0.479 0.462 0.446 0.430 0.415 0.401
ST ROWI 1.000 0.948 0.901 0.862 0.826 0.793 0.759 0.727 0.696 0.665 0.636 0.608 0.580 0.554 0.529 0.505 0.483 0.462 0.441 0.422 0.403 0.385 0.368 0.351 0.336 0.320
ST2 O&M Real Growth Rates (above CPI)
Regional Express Bus 0.0% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42%
Sounder Commuter Rail 0.0% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46%
Link Light Rail 0.0% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75%
ST2 O&M Escalation Factors (CPI + Real Growth)
Regional Express Bus 1.041 1.072 1.058 1.049 1.048 1.047 1.047 1.047 1.047 1.047 1.047 1.047 1.047 1.048 1.049 1.049 1.049 1.049 1.049 1.049 1.050 1.050 1.050 1.050 1.050 1.050
Sounder Commuter Rail 1.041 1.062 1.048 1.039 1.038 1.037 1.037 1.037 1.037 1.037 1.037 1.037 1.037 1.038 1.039 1.039 1.039 1.039 1.039 1.039 1.040 1.040 1.040 1.040 1.040 1.040
Link Light Rail 1.041 1.065 1.051 1.042 1.041 1.040 1.040 1.040 1.040 1.040 1.040 1.040 1.040 1.041 1.042 1.042 1.042 1.042 1.042 1.042 1.043 1.043 1.043 1.043 1.043 1.043
PV factors for O&M Escalation 2007$
[click to change PV base year] 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Regional Express Bus 1.000 1.072 1.135 1.190 1.247 1.306 1.367 1.432 1.499 1.570 1.644 1.722 1.803 1.890 1.982 2.078 2.179 2.286 2.397 2.515 2.641 2.773 2.912 3.058 3.212 3.374
Sounder Commuter Rail 1.000 1.062 1.113 1.156 1.200 1.245 1.291 1.339 1.389 1.441 1.494 1.550 1.608 1.669 1.734 1.801 1.871 1.943 2.019 2.097 2.181 2.269 2.360 2.455 2.554 2.658
Link Light Rail 1.000 1.065 1.119 1.166 1.214 1.263 1.314 1.366 1.421 1.478 1.538 1.600 1.664 1.733 1.805 1.880 1.959 2.041 2.126 2.215 2.310 2.410 2.514 2.623 2.737 2.856
Note: Indices are annual averages and are based on forecasts by Dick Conway & Associates (CPI), DRI-WEFA (BCI) and FABA (ROWI).
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Cost Indices, 7/20/2008, 10:45 AM page 11 of 85
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Cost Indices and Present Value Factors
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
History Projected Values
2007 2008 2033 2034 2035 2036 2037 2038 2039 2040
Seattle CPI-U
O&M, Other Capital
CPI-U Index 215.5 227.8 529.6 548.8 568.6 589.1 610.3 632.4 655.3 679.1
CPI-U Annual Growth Factor 1.041 1.057 1.037 1.036 1.036 1.036 1.036 1.036 1.036 1.036
CPI-U Annual % Change 4.1% 5.7% 3.7% 3.6% 3.6% 3.6% 3.6% 3.6% 3.6% 3.6%
CPI-U Factor 1.0000 1.0569 2.4575 2.5466 2.6385 2.7335 2.8321 2.9345 3.0408 3.1511
Seattle BCI
Construction
BCI Index 4,578.1 4,852.8 11,846.0 12,278.8 12,727.5 13,192.5 13,674.6 14,174.3 14,692.2 15,229.0
BCI Annual Growth Factor 1.041 1.060 1.037 1.037 1.037 1.037 1.037 1.037 1.037 1.037
BCI Annual % Change 4.1% 6.0% 3.7% 3.7% 3.7% 3.7% 3.7% 3.7% 3.7% 3.7%
BCI Factor 1.0000 1.0600 2.5875 2.6821 2.7801 2.8816 2.9869 3.0961 3.2092 3.3265
ST ROWI
Right-of-Way
ROW Index 176.8 186.4 577.4 604.5 632.8 662.5 693.5 726.0 760.1 795.7
ROWI Annual Growth Factor 1.117 1.055 1.047 1.047 1.047 1.047 1.047 1.047 1.047 1.047
ROWI Annual % Change 11.7% 5.5% 4.7% 4.7% 4.7% 4.7% 4.7% 4.7% 4.7% 4.7%
ROW Factor 1.0000 1.0546 3.2664 3.4196 3.5799 3.7477 3.9234 4.1073 4.2998 4.5014
PV factors for 2007$
2007 2007 2008 2033 2034 2035 2036 2037 2038 2039 2040
Seattle CPI-U 1.000 0.946 0.407 0.393 0.379 0.366 0.353 0.341 0.329 0.317
Seattle BCI 1.000 0.943 0.386 0.373 0.360 0.347 0.335 0.323 0.312 0.301
ST ROWI 1.000 0.948 0.306 0.292 0.279 0.267 0.255 0.243 0.233 0.222
ST2 O&M Real Growth Rates (above CPI)
Regional Express Bus 0.0% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42% 1.42%
Sounder Commuter Rail 0.0% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46%
Link Light Rail 0.0% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75%
ST2 O&M Escalation Factors (CPI + Real Growth)
Regional Express Bus 1.041 1.072 1.051 1.051 1.051 1.051 1.051 1.051 1.051 1.051
Sounder Commuter Rail 1.041 1.062 1.041 1.041 1.041 1.041 1.041 1.041 1.041 1.041
Link Light Rail 1.041 1.065 1.044 1.044 1.044 1.044 1.044 1.044 1.044 1.044
PV factors for O&M Escalation 2007$
[click to change PV base year] 2007 2008 2033 2034 2035 2036 2037 2038 2039 2040
Regional Express Bus 1.000 1.072 3.548 3.729 3.918 4.117 4.326 4.546 4.778 5.022
Sounder Commuter Rail 1.000 1.062 2.768 2.881 2.999 3.121 3.248 3.381 3.520 3.664
Link Light Rail 1.000 1.065 2.982 3.114 3.250 3.392 3.541 3.696 3.859 4.029
Note: Indices are annual averages and are based on forecasts by Dick Conway & Ass
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Cost Indices, 7/20/2008, 10:45 AM page 12 of 85
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Tax Revenue
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6
Unit 2009-2023 2009 2010 2011 2012 2013 2014
Tax Base
Sales & Use Tax Base
Snohomish Nominal $000s 201,499,644 9,035,560 9,632,910 10,168,116 10,737,145 11,313,723 11,906,151
North King Nominal $000s 429,082,970 20,354,739 21,549,700 22,570,623 23,642,096 24,719,945 25,829,290
South King Nominal $000s 283,442,226 13,445,867 14,235,230 14,909,628 15,617,419 16,329,420 17,062,228
East King Nominal $000s 421,907,259 20,014,340 21,189,316 22,193,166 23,246,721 24,306,544 25,397,337
Pierce Nominal $000s 263,642,370 12,160,280 12,879,414 13,541,868 14,240,467 14,945,188 15,685,909
total, ST district Nominal $000s 1,599,574,469 75,010,786 79,486,570 83,383,401 87,483,847 91,614,820 95,880,914
Tax Rate
Phase 2 Sales Tax Rate
Rate % 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
Tax Revenue
Sales & Use Tax Revenue
Snohomish Nominal $000s 976,705 22,424 47,667 50,395 53,212 56,088 59,037
North King Nominal $000s 2,079,340 50,617 106,753 112,002 117,318 122,702 128,222
South King Nominal $000s 1,373,563 33,437 70,518 73,986 77,497 81,054 84,700
East King Nominal $000s 2,044,566 49,771 104,967 110,129 115,356 120,650 126,078
Pierce Nominal $000s 1,277,681 30,159 63,798 67,157 70,620 74,139 77,812
total, ST district Nominal $000s 7,751,856 186,408 393,703 413,670 434,002 454,632 475,849
MVET Revenue
Snohomish
North King
South King
East King
Pierce
total, ST district
Rental Car Tax Revenue
Snohomish
North King
Unit 2009-2023 2009 2010 2011 2012 2013 2014
South King
East King
Pierce
total, ST district
Total Tax Revenue
Snohomish Nominal $000s 976,705 22,424 47,667 50,395 53,212 56,088 59,037
North King Nominal $000s 2,079,340 50,617 106,753 112,002 117,318 122,702 128,222
South King Nominal $000s 1,373,563 33,437 70,518 73,986 77,497 81,054 84,700
East King Nominal $000s 2,044,566 49,771 104,967 110,129 115,356 120,650 126,078
Pierce Nominal $000s 1,277,681 30,159 63,798 67,157 70,620 74,139 77,812
total, ST district Nominal $000s 7,751,856 186,408 393,703 413,670 434,002 454,632 475,849
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Tax Revenue
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
7 8 9 10 11 12
Unit 2009-2023 2015 2016 2017 2018 2019 2020
Tax Base
Sales & Use Tax Base
Snohomish Nominal $000s 201,499,644 12,519,171 13,162,686 13,834,387 14,538,443 15,258,835 16,055,958
North King Nominal $000s 429,082,970 26,969,091 28,155,834 29,387,606 30,672,432 31,972,631 33,439,396
South King Nominal $000s 283,442,226 17,815,154 18,599,089 19,412,769 20,261,495 21,120,376 22,089,287
East King Nominal $000s 421,907,259 26,518,077 27,684,974 28,896,147 30,159,485 31,437,941 32,880,177
Pierce Nominal $000s 263,642,370 16,449,341 17,249,312 18,083,910 18,957,171 19,848,750 20,824,334
total, ST district Nominal $000s 1,599,574,469 100,270,835 104,851,894 109,614,819 114,589,026 119,638,533 125,289,152
Tax Rate
Phase 2 Sales Tax Rate
Rate % 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
Tax Revenue
Sales & Use Tax Revenue
Snohomish Nominal $000s 976,705 62,085 65,277 68,612 72,106 75,694 79,616
North King Nominal $000s 2,079,340 133,896 139,790 145,912 152,291 158,780 165,975
South King Nominal $000s 1,373,563 88,448 92,342 96,386 100,600 104,886 109,639
East King Nominal $000s 2,044,566 131,656 137,452 143,471 149,745 156,124 163,199
Pierce Nominal $000s 1,277,681 81,611 85,580 89,724 94,058 98,501 103,309
total, ST district Nominal $000s 7,751,856 497,696 520,442 544,105 568,800 593,985 621,737
MVET Revenue
Snohomish
North King
South King
East King
Pierce
total, ST district
Rental Car Tax Revenue
Snohomish
North King
Unit 2009-2023 2015 2016 2017 2018 2019 2020
South King
East King
Pierce
total, ST district
Total Tax Revenue
Snohomish Nominal $000s 976,705 62,085 65,277 68,612 72,106 75,694 79,616
North King Nominal $000s 2,079,340 133,896 139,790 145,912 152,291 158,780 165,975
South King Nominal $000s 1,373,563 88,448 92,342 96,386 100,600 104,886 109,639
East King Nominal $000s 2,044,566 131,656 137,452 143,471 149,745 156,124 163,199
Pierce Nominal $000s 1,277,681 81,611 85,580 89,724 94,058 98,501 103,309
total, ST district Nominal $000s 7,751,856 497,696 520,442 544,105 568,800 593,985 621,737
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Tax Revenue
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
13 14 15 16 17 18
Unit 2009-2023 2021 2022 2023 2024 2025 2026
Tax Base
Sales & Use Tax Base
Snohomish Nominal $000s 201,499,644 16,891,161 17,762,713 18,682,685 19,660,055 20,695,782 21,780,200
North King Nominal $000s 429,082,970 34,983,209 36,579,322 38,257,056 40,029,908 41,893,734 43,828,496
South King Nominal $000s 283,442,226 23,109,094 24,163,449 25,271,721 26,442,826 27,674,026 28,952,085
East King Nominal $000s 421,907,259 34,398,172 35,967,593 37,617,270 39,360,473 41,193,130 43,095,537
Pierce Nominal $000s 263,642,370 21,843,078 22,906,803 24,026,545 25,209,474 26,457,083 27,762,270
total, ST district Nominal $000s 1,599,574,469 131,224,715 137,379,879 143,855,278 150,702,736 157,913,754 165,418,588
4.76%
2.55%
Tax Rate
Phase 2 Sales Tax Rate
Rate % 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
Tax Revenue
Sales & Use Tax Revenue
Snohomish Nominal $000s 976,705 83,760 88,087 92,647 97,486 102,616 107,997
North King Nominal $000s 2,079,340 173,630 181,567 189,887 198,672 207,915 217,530
South King Nominal $000s 1,373,563 114,696 119,939 125,435 131,238 137,344 143,695
East King Nominal $000s 2,044,566 170,726 178,530 186,712 195,350 204,438 213,892
Pierce Nominal $000s 1,277,681 108,366 113,648 119,200 125,062 131,246 137,724
total, ST district Nominal $000s 7,751,856 651,177 681,770 713,880 747,807 783,560 820,839
MVET Revenue
Snohomish
North King
South King
East King
Pierce
total, ST district
Rental Car Tax Revenue
Snohomish
North King
Unit 2009-2023 2021 2022 2023 2024 2025 2026
South King
East King
Pierce
total, ST district
Total Tax Revenue
Snohomish Nominal $000s 976,705 83,760 88,087 92,647 97,486 102,616 107,997
North King Nominal $000s 2,079,340 173,630 181,567 189,887 198,672 207,915 217,530
South King Nominal $000s 1,373,563 114,696 119,939 125,435 131,238 137,344 143,695
East King Nominal $000s 2,044,566 170,726 178,530 186,712 195,350 204,438 213,892
Pierce Nominal $000s 1,277,681 108,366 113,648 119,200 125,062 131,246 137,724
total, ST district Nominal $000s 7,751,856 651,177 681,770 713,880 747,807 783,560 820,839
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Tax Revenue
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
19 20 21 22 23 24
Unit 2009-2023 2027 2028 2029 2030 2031 2032
Tax Base
Sales & Use Tax Base
Snohomish Nominal $000s 201,499,644 22,948,213 24,192,094 25,517,376 26,929,525 28,387,913 29,847,246
North King Nominal $000s 429,082,970 45,898,002 48,085,929 50,399,978 52,845,557 55,326,962 57,790,370
South King Nominal $000s 283,442,226 30,319,152 31,764,446 33,293,053 34,908,545 36,547,703 38,174,974
East King Nominal $000s 421,907,259 45,130,433 47,281,771 49,557,121 51,961,801 54,401,709 56,823,921
Pierce Nominal $000s 263,642,370 29,164,096 30,648,392 32,220,609 33,878,966 35,597,052 37,338,973
total, ST district Nominal $000s 1,599,574,469 173,459,896 181,972,632 190,988,137 200,524,394 210,261,338 219,975,483
Tax Rate
Phase 2 Sales Tax Rate
Rate % 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
Tax Revenue
Sales & Use Tax Revenue
Snohomish Nominal $000s 976,705 113,768 119,924 126,482 133,471 140,724 148,020
North King Nominal $000s 2,079,340 227,765 238,606 250,072 262,190 274,567 286,899
South King Nominal $000s 1,373,563 150,457 157,618 165,191 173,196 181,373 189,519
East King Nominal $000s 2,044,566 223,956 234,616 245,889 257,805 269,975 282,101
Pierce Nominal $000s 1,277,681 144,652 152,005 159,793 168,013 176,554 185,243
total, ST district Nominal $000s 7,751,856 860,598 902,769 947,428 994,675 1,043,193 1,091,782
MVET Revenue
Snohomish
North King
South King
East King
Pierce
total, ST district
Rental Car Tax Revenue
Snohomish
North King
Unit 2009-2023 2027 2028 2029 2030 2031 2032
South King
East King
Pierce
total, ST district
Total Tax Revenue
Snohomish Nominal $000s 976,705 113,768 119,924 126,482 133,471 140,724 148,020
North King Nominal $000s 2,079,340 227,765 238,606 250,072 262,190 274,567 286,899
South King Nominal $000s 1,373,563 150,457 157,618 165,191 173,196 181,373 189,519
East King Nominal $000s 2,044,566 223,956 234,616 245,889 257,805 269,975 282,101
Pierce Nominal $000s 1,277,681 144,652 152,005 159,793 168,013 176,554 185,243
total, ST district Nominal $000s 7,751,856 860,598 902,769 947,428 994,675 1,043,193 1,091,782
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Tax Revenue
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
25 26 27 28 29 30
Unit 2009-2023 2033 2034 2035 2036 2037 2038
Tax Base
Sales & Use Tax Base
Snohomish Nominal $000s 201,499,644 31,360,282 32,956,501 34,652,359 36,455,060 38,361,061 40,373,620
North King Nominal $000s 429,082,970 60,368,066 63,103,888 66,011,158 69,094,568 72,335,803 75,734,030
South King Nominal $000s 283,442,226 39,877,740 41,684,960 43,605,435 45,642,264 47,783,348 50,028,138
East King Nominal $000s 421,907,259 59,358,509 62,048,579 64,907,229 67,939,074 71,126,105 74,467,503
Pierce Nominal $000s 263,642,370 39,156,859 41,064,695 43,076,332 45,201,885 47,440,980 49,798,353
total, ST district Nominal $000s 1,599,574,469 230,121,455 240,858,624 252,252,513 264,332,852 277,047,296 290,401,644
Tax Rate
Phase 2 Sales Tax Rate
Rate % 0.50% 0.50% 0.50% 0.50% 0.50% 0.00%
Tax Revenue
Sales & Use Tax Revenue
Snohomish Nominal $000s 976,705 155,541 163,452 171,849 180,773 190,217 -
North King Nominal $000s 2,079,340 299,692 313,240 327,633 342,903 358,978 -
South King Nominal $000s 1,373,563 197,970 206,919 216,427 226,514 237,133 -
East King Nominal $000s 2,044,566 294,680 308,001 322,154 337,169 352,975 -
Pierce Nominal $000s 1,277,681 194,269 203,734 213,705 224,238 235,339 -
total, ST district Nominal $000s 7,751,856 1,142,152 1,195,345 1,251,768 1,311,597 1,374,641 -
MVET Revenue
Snohomish
North King
South King
East King
Pierce
total, ST district
Rental Car Tax Revenue
Snohomish
North King
Unit 2009-2023 2033 2034 2035 2036 2037 2038
South King
East King
Pierce
total, ST district
Total Tax Revenue
Snohomish Nominal $000s 976,705 155,541 163,452 171,849 180,773 190,217 -
North King Nominal $000s 2,079,340 299,692 313,240 327,633 342,903 358,978 -
South King Nominal $000s 1,373,563 197,970 206,919 216,427 226,514 237,133 -
East King Nominal $000s 2,044,566 294,680 308,001 322,154 337,169 352,975 -
Pierce Nominal $000s 1,277,681 194,269 203,734 213,705 224,238 235,339 -
total, ST district Nominal $000s 7,751,856 1,142,152 1,195,345 1,251,768 1,311,597 1,374,641 -
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Tax Revenue
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
31 32
Unit 2009-2023 2039 2040
Tax Base
Sales & Use Tax Base
Snohomish Nominal $000s 201,499,644 42,496,448 44,737,229
North King Nominal $000s 429,082,970 79,295,242 83,031,669
South King Nominal $000s 283,442,226 52,380,592 54,848,788
East King Nominal $000s 421,907,259 77,969,159 81,643,100
Pierce Nominal $000s 263,642,370 52,278,100 54,887,712
total, ST district Nominal $000s 1,599,574,469 304,419,542 319,148,498
Tax Rate
Phase 2 Sales Tax Rate
Rate % 0.00% 0.00%
Tax Revenue
Sales & Use Tax Revenue
Snohomish Nominal $000s 976,705 - -
North King Nominal $000s 2,079,340 - -
South King Nominal $000s 1,373,563 - -
East King Nominal $000s 2,044,566 - -
Pierce Nominal $000s 1,277,681 - -
total, ST district Nominal $000s 7,751,856 - -
MVET Revenue
Snohomish
North King
South King
East King
Pierce
total, ST district
Rental Car Tax Revenue
Snohomish
North King
Unit 2009-2023 2039 2040
South King
East King
Pierce
total, ST district
Total Tax Revenue
Snohomish Nominal $000s 976,705 - -
North King Nominal $000s 2,079,340 - -
South King Nominal $000s 1,373,563 - -
East King Nominal $000s 2,044,566 - -
Pierce Nominal $000s 1,277,681 - -
total, ST district Nominal $000s 7,751,856 - -
SOUND TRANSIT ST2 FINANCIAL MODEL-A
O&M Costs
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6 7 8 9 10 11 12
Unit 2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
O&M Costs
Light Rail 2007 $000s 159,032 - - - - - - 1,248 2,496 2,496 2,496 2,496 14,922
Regional Express 2007 $000s 138,294 6,400 6,400 6,400 6,400 6,400 12,900 13,585 13,770 13,770 13,770 13,770 9,820
Commuter Rail 2007 $000s 99,767 - - - - 490 980 980 6,680 12,380 12,380 12,380 12,890
Regional Fund 2007 $000s 799,398 17,013 27,575 40,163 43,648 46,183 51,319 59,529 73,555 79,617 73,306 75,599 66,914
Total Gross O&M 2007 $000s 1,196,491 23,413 33,975 46,563 50,048 53,073 65,199 75,342 96,501 108,263 101,952 104,245 104,546
Total Net O&M 2007 $000s 1,196,491 23,413 33,975 46,563 50,048 53,073 65,199 75,342 96,501 108,263 101,952 104,245 104,546
Light Rail Nominal $000s 295,455 - - - - - - 1,774 3,690 3,839 3,993 4,153 25,857
Regional Express Nominal $000s 220,882 7,261 7,616 7,978 8,355 8,751 18,469 20,367 21,618 22,638 23,706 24,824 18,558
Commuter Rail Nominal $000s 165,223 - - - - 633 1,312 1,361 9,623 18,499 19,188 19,902 21,515
Regional Fund Nominal $000s 1,141,438 18,765 31,454 47,317 53,100 58,016 66,560 79,714 101,696 113,657 108,048 115,045 105,250
Total Gross O&M Nominal $000s 1,822,998 26,026 39,070 55,296 61,455 67,399 86,342 103,216 136,628 158,633 154,935 163,925 171,181
Total Net O&M Nominal $000s 1,822,998 26,026 39,070 55,296 61,455 67,399 86,342 103,216 136,628 158,633 154,935 163,925 171,181
Operating Reserve Nominal $000s 53,728 6,506 3,261 4,056 1,540 1,486 4,736 4,218 8,353 5,501 (924) 2,247 1,814
Total Nominal $000s 53,728 6,506 3,261 4,056 1,540 1,486 4,736 4,218 8,353 5,501 (924) 2,247 1,814
Capital Costs
Light Rail — Construction 2007 $000s 5,186,933 123 2,277 13,517 49,970 120,817 217,819 355,552 546,488 759,700 873,362 824,959 659,141
Light Rail — ROW 2007 $000s 996,326 869 18,550 75,385 109,372 106,764 118,714 164,003 193,167 159,249 38,263 3,717 4,727
Light Rail — Other Capital 2007 $000s 1,734,709 1,000 12,782 34,120 61,207 88,035 118,713 176,881 208,345 208,198 149,336 228,852 192,235
Regional Express — Construction 2007 $000s 135,290 341 5,107 26,100 32,952 39,166 26,144 5,480 - - - - -
Regional Express — ROW 2007 $000s 37,067 4,490 17,958 13,613 575 431 - - - - - - -
Regional Express — Other Capital 2007 $000s 103,834 3,124 8,118 11,166 8,625 4,065 1,014 5,095 - - 16,687 16,687 16,687
Commuter Rail — Construction 2007 $000s 421,823 604 7,415 37,316 55,070 27,167 5,764 2,774 - 522 7,153 28,397 38,875
Commuter Rail — ROW 2007 $000s 47,386 2,603 10,412 7,975 500 - - - - 1,421 12,105 5,277 4,053
Commuter Rail — Other Capital 2007 $000s 327,130 3,790 9,363 47,560 42,182 39,425 50,787 50,686 38,667 2,796 9,241 10,943 10,170
Regional Fund — Other Capital 2007 $000s 111,550 18,816 5,000 5,000 5,823 5,000 13,194 5,823 5,000 5,000 5,823 13,194 5,764
Total 2007 $000s 9,102,049 35,761 96,981 271,752 366,275 430,870 552,148 766,294 991,667 1,136,887 1,111,970 1,132,027 931,652
Light Rail — Construction Nominal $000s 7,920,216 136 2,618 16,073 61,635 154,215 288,072 486,481 774,120 1,114,105 1,329,493 1,300,498 1,074,985
Light Rail — ROW Nominal $000s 1,416,528 965 21,518 91,222 137,990 140,577 163,276 235,701 290,308 250,341 62,984 6,407 8,535
Light Rail — Other Capital Nominal $000s 2,508,905 1,103 14,580 40,198 74,460 110,592 153,969 236,858 288,055 297,211 220,109 348,264 302,372
Regional Express — Construction Nominal $000s 169,996 378 5,872 31,035 40,644 49,993 34,576 7,498 - - - - -
Regional Express — ROW Nominal $000s 43,583 4,985 20,832 16,472 725 568 - - - - - - -
Regional Express — Other Capital Nominal $000s 146,972 3,445 9,260 13,156 10,493 5,106 1,315 6,823 - - 24,596 25,395 26,248
Commuter Rail — Construction Nominal $000s 655,031 669 8,526 44,372 67,924 34,677 7,623 3,796 - 766 10,889 44,767 63,401
Commuter Rail — ROW Nominal $000s 69,571 2,890 12,078 9,651 631 - - - - 2,234 19,925 9,097 7,318
Commuter Rail — Other Capital Nominal $000s 428,126 4,180 10,679 56,033 51,315 49,527 65,871 67,872 53,460 3,991 13,620 16,653 15,996
Regional Fund — Other Capital Nominal $000s 152,822 20,753 5,703 5,891 7,084 6,281 17,112 7,797 6,913 7,138 8,582 20,078 9,066
Total Nominal $000s 13,511,750 39,506 111,667 324,102 452,901 551,536 731,816 1,052,826 1,412,856 1,675,785 1,690,199 1,771,159 1,507,921
2020 ST2 Additional Reserve Nominal $000s - -
Capital Reserve Nominal $000s -
Total Nominal $000s - - - - - - - - - - - - -
Capital Costs by Department/Mode — Subarea Detail
Light Rail Capital
Snohomish 2007 $000s 911,969 - - - - - - 18,376 42,604 59,740 81,060 110,208 150,669
North King 2007 $000s 2,325,687 - 418 23,451 85,531 132,742 180,181 231,791 266,561 312,164 299,916 304,914 253,747
Unit 2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
South King 2007 $000s 1,332,190 - - - - - 18,497 78,819 147,378 214,938 240,012 212,197 153,700
East King 2007 $000s 3,152,797 - 26,126 87,740 117,454 163,965 239,640 349,133 460,382 507,277 421,152 417,594 292,565
Pierce 2007 $000s 195,325 1,992 7,064 11,831 17,563 18,909 16,928 18,317 31,076 33,028 18,820 12,615 5,422
Regional Express Bus Capital
Snohomish 2007 $000s 44,949 1,422 5,237 6,806 6,679 6,117 2,932 - - - 3,743 3,743 3,743
North King 2007 $000s - - - - - - - - - - - - -
South King 2007 $000s 84,651 922 5,291 17,229 9,128 13,418 12,661 5,575 - - 4,129 4,129 4,129
East King 2007 $000s 98,370 3,700 13,621 17,702 17,372 15,910 7,626 5,000 - - 5,813 5,813 5,813
Pierce 2007 $000s 48,222 1,911 7,035 9,142 8,972 8,217 3,939 - - - 3,002 3,002 3,002
Commuter Rail Capital
Snohomish 2007 $000s 54,603 - - - - - - - - - 10,578 12,368 11,889
North King 2007 $000s - - - - - - - - - - - - -
South King 2007 $000s 92,240 1,225 4,875 11,840 16,283 11,268 9,155 7,184 - - - 1,332 4,803
East King 2007 $000s - - - - - - - - - - - - -
Pierce 2007 $000s 649,497 5,773 22,314 81,012 81,468 55,324 47,397 46,276 38,667 4,740 17,921 30,918 36,406
Regional Fund Capital
Regional Fund 2007 $000s 111,550 18,816 5,000 5,000 5,823 5,000 13,194 5,823 5,000 5,000 5,823 13,194 5,764
Weighted Average Capital Cost Inflation Factors
Light Rail – Composite Cumulative Inflation Factor 1.1064 1.1520 1.1989 1.2427 1.2844 1.3297 1.3771 1.4267 1.4742 1.5199 1.5651 1.6188
Regional Express – Composite Cumulative Inflation Factor 1.1073 1.1533 1.1923 1.2304 1.2750 1.3216 1.3542 1.0000 1.0000 1.4739 1.5218 1.5729
Commuter Rail – Composite Cumulative Inflation Factor 1.1061 1.1506 1.1853 1.2263 1.2645 1.2996 1.3406 1.3826 1.4752 1.5592 1.5805 1.6331
Light Rail Capital
Snohomish Nominal $000s 1,482,737 - - - - - - 25,305 60,782 88,069 123,206 172,490 243,908
North King Nominal $000s 3,449,921 - 482 28,116 106,293 170,497 239,578 319,191 380,294 460,197 455,852 477,230 410,775
South King Nominal $000s 2,061,241 - - - - - 24,594 108,540 210,259 316,865 364,802 332,116 248,816
East King Nominal $000s 4,580,270 - 30,096 105,193 145,965 210,600 318,638 480,780 656,813 747,835 640,121 653,588 473,616
Pierce Nominal $000s 271,480 2,205 8,138 14,184 21,827 24,287 22,508 25,224 44,335 48,691 28,605 19,745 8,777
Regional Express Bus Capital
Snohomish Nominal $000s 60,335 1,575 6,040 8,115 8,218 7,799 3,875 - - - 5,517 5,697 5,888
North King Nominal $000s - - - - - - - - - - - - -
South King Nominal $000s 112,673 1,021 6,102 20,542 11,231 17,108 16,733 7,550 - - 6,085 6,283 6,494
East King Nominal $000s 125,978 4,097 15,709 21,106 21,374 20,284 10,079 6,771 - - 8,568 8,846 9,144
Pierce Nominal $000s 61,566 2,116 8,113 10,900 11,039 10,476 5,205 - - - 4,425 4,569 4,722
Commuter Rail Capital
Snohomish Nominal $000s 89,926 - - - - - - - - - 16,492 19,547 19,415
North King Nominal $000s - - - - - - - - - - - - -
South King Nominal $000s 128,871 1,355 5,610 14,033 19,968 14,248 11,897 9,631 - - - 2,105 7,844
East King Nominal $000s - - - - - - - - - - - - -
Pierce Nominal $000s 933,932 6,385 25,674 96,022 99,902 69,956 61,597 62,037 53,460 6,992 27,943 48,865 59,456
Regional Fund Capital
Regional Fund Nominal $000s 152,822 20,753 5,703 5,891 7,084 6,281 17,112 7,797 6,913 7,138 8,582 20,078 9,066
O&M Costs by Department/Mode — Subarea Detail
Light Rail O&M
Snohomish 2007 $000s 16,737 - - - - - - - - - - - -
North King 2007 $000s 65,867 - - - - - - 1,248 2,496 2,496 2,496 2,496 7,655
South King 2007 $000s 16,024 - - - - - - - - - - - 134
East King 2007 $000s 60,405 - - - - - - - - - - - 7,133
Pierce 2007 $000s - - - - - - - - - - - - -
Regional Express Bus O&M
Snohomish 2007 $000s 45,499 1,700 1,700 1,700 1,700 1,700 3,889 3,979 3,979 3,979 3,979 3,979 3,979
North King 2007 $000s - - - - - - - - - - - - -
South King 2007 $000s 15,246 400 400 400 400 400 958 1,201 1,386 1,386 1,386 1,386 1,386
East King 2007 $000s 50,768 3,400 3,400 3,400 3,400 3,400 5,933 6,165 6,165 6,165 6,165 6,165 2,215
Unit 2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Pierce 2007 $000s 26,782 900 900 900 900 900 2,120 2,240 2,240 2,240 2,240 2,240 2,240
Commuter Rail O&M
Snohomish 2007 $000s 3,567 - - - - - - - - - - - 510
North King 2007 $000s - - - - - - - - - - - - -
South King 2007 $000s 2,520 - - - - 120 240 240 240 240 240 240 240
East King 2007 $000s - - - - - - - - - - - - -
Pierce 2007 $000s 93,680 - - - - 370 740 740 6,440 12,140 12,140 12,140 12,140
Regional Fund O&M
Regional Fund 2007 $000s 799,398 17,013 27,575 40,163 43,648 46,183 51,319 59,529 73,555 79,617 73,306 75,599 66,914
Light Rail O&M
Snohomish Nominal $000s 32,383 - - - - - - - - - - - -
North King Nominal $000s 119,320 - - - - - - 1,774 3,690 3,839 3,993 4,153 13,265
South King Nominal $000s 30,918 - - - - - - - - - - - 233
East King Nominal $000s 112,834 - - - - - - - - - - - 12,359
Pierce Nominal $000s - - - - - - - - - - - - -
Regional Express Bus O&M
Snohomish Nominal $000s 75,419 1,929 2,023 2,119 2,219 2,324 5,569 5,965 6,247 6,541 6,850 7,173 7,519
North King Nominal $000s - - - - - - - - - - - - -
South King Nominal $000s 26,274 454 476 499 522 547 1,372 1,800 2,176 2,278 2,386 2,498 2,619
East King Nominal $000s 73,870 3,857 4,046 4,238 4,439 4,649 8,494 9,243 9,679 10,136 10,614 11,114 4,186
Pierce Nominal $000s 45,319 1,021 1,071 1,122 1,175 1,231 3,035 3,359 3,517 3,683 3,857 4,039 4,234
Commuter Rail O&M
Snohomish Nominal $000s 6,359 - - - - - - - - - - - 851
North King Nominal $000s - - - - - - - - - - - - -
South King Nominal $000s 3,970 - - - - 155 321 333 346 359 372 386 401
East King Nominal $000s - - - - - - - - - - - - -
Pierce Nominal $000s 154,894 - - - - 478 991 1,028 9,278 18,141 18,816 19,516 20,264
Regional Fund O&M
Regional Fund Nominal $000s 1,141,438 18,765 31,454 47,317 53,100 58,016 66,560 79,714 101,696 113,657 108,048 115,045 105,250
Capital Reserve by Subarea
Snohomish Nominal $000s
North King Nominal $000s
South King Nominal $000s
East King Nominal $000s
Pierce Nominal $000s
SOUND TRANSIT ST2 FINANCIAL MODEL-A
O&M Costs
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
13 14 15 16 17 18 19 20 21 22 23 24
Unit 2009-2023 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
O&M Costs
Light Rail 2007 $000s 159,032 30,527 43,460 58,890 64,768 69,664 74,559 79,454 84,349 89,245 94,140 94,140 -
Regional Express 2007 $000s 138,294 5,870 5,870 3,170 470 470 470 470 470 470 470 470 -
Commuter Rail 2007 $000s 99,767 13,399 13,399 13,809 14,219 14,219 14,219 14,219 14,219 14,219 14,219 14,219 -
Regional Fund 2007 $000s 799,398 57,015 49,527 38,435 20,850 20,574 20,849 21,124 21,399 21,674 21,950 21,950 -
Total Gross O&M 2007 $000s 1,196,491 106,811 112,256 114,304 100,307 104,927 110,097 115,267 120,438 125,608 130,779 130,779 -
Total Net O&M 2007 $000s 1,196,491 106,811 112,256 114,304 100,307 104,927 110,097 115,267 120,438 125,608 130,779 130,779 -
Light Rail Nominal $000s 295,455 55,094 81,709 115,347 132,162 148,099 165,151 183,579 203,294 224,377 246,919 257,630 268,805
Regional Express Nominal $000s 220,882 11,632 12,198 6,909 1,074 1,126 1,182 1,241 1,303 1,368 1,437 1,509 1,585
Commuter Rail Nominal $000s 165,223 23,228 24,129 25,832 27,631 28,704 29,822 31,018 32,262 33,558 34,909 36,319 37,785
Regional Fund Nominal $000s 1,141,438 92,713 83,277 66,827 37,487 38,253 40,090 42,055 44,110 46,260 48,511 50,239 52,030
Total Gross O&M Nominal $000s 1,822,998 182,666 201,313 214,914 198,354 216,182 236,243 257,892 280,970 305,563 331,776 345,698 360,206
Total Net O&M Nominal $000s 1,822,998 182,666 201,313 214,914 198,354 216,182 236,243 257,892 280,970 305,563 331,776 345,698 360,206
Operating Reserve Nominal $000s 53,728 2,871 4,662 3,400 (4,140) 4,457 5,015 5,412 5,769 6,148 6,553 3,480 3,627
Total Nominal $000s 53,728 2,871 4,662 3,400 (4,140) 4,457 5,015 5,412 5,769 6,148 6,553 3,480 3,627
Capital Costs
Light Rail — Construction 2007 $000s 5,186,933 387,549 253,161 122,498 - - - - - - - - -
Light Rail — ROW 2007 $000s 996,326 3,545 - - - - - - - - - - -
Light Rail — Other Capital 2007 $000s 1,734,709 138,998 115,139 868 - - - - - - - - -
Regional Express — Construction 2007 $000s 135,290 - - - - - - - - - - - -
Regional Express — ROW 2007 $000s 37,067 - - - - - - - - - - - -
Regional Express — Other Capital 2007 $000s 103,834 4,189 4,189 4,189 - - - - - - - - -
Commuter Rail — Construction 2007 $000s 421,823 63,665 94,976 52,124 - - - - - - - - -
Commuter Rail — ROW 2007 $000s 47,386 3,040 - - - - - - - - - - -
Commuter Rail — Other Capital 2007 $000s 327,130 8,387 2,792 342 - - - - - - - - -
Regional Fund — Other Capital 2007 $000s 111,550 6,587 5,764 5,764 1,587 764 1,527 1,527 1,527 1,527 1,527 1,527 -
Total 2007 $000s 9,102,049 615,960 476,020 185,784 1,587 764 1,527 1,527 1,527 1,527 1,527 1,527 -
Light Rail — Construction Nominal $000s 7,920,216 653,977 442,263 221,546 - - - - - - - - -
Light Rail — ROW Nominal $000s 1,416,528 6,703 - - - - - - - - - - -
Light Rail — Other Capital Nominal $000s 2,508,905 226,028 193,597 1,509 - - - - - - - - -
Regional Express — Construction Nominal $000s 169,996 - - - - - - - - - - - -
Regional Express — ROW Nominal $000s 43,583 - - - - - - - - - - - -
Regional Express — Other Capital Nominal $000s 146,972 6,811 7,043 7,283 - - - - - - - - -
Commuter Rail — Construction Nominal $000s 655,031 107,432 165,920 94,270 - - - - - - - - -
Commuter Rail — ROW Nominal $000s 69,571 5,747 - - - - - - - - - - -
Commuter Rail — Other Capital Nominal $000s 428,126 13,638 4,694 594 - - - - - - - - -
Regional Fund — Other Capital Nominal $000s 152,822 10,710 9,691 10,021 2,853 1,420 2,937 3,041 3,148 3,260 3,376 3,496 -
Total Nominal $000s 13,511,750 1,031,046 823,208 335,223 2,853 1,420 2,937 3,041 3,148 3,260 3,376 3,496 -
2020 ST2 Additional Reserve Nominal $000s - -
Capital Reserve Nominal $000s - - - - 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975
Total Nominal $000s - - - - 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975
Capital Costs by Department/Mode — Subarea Detail
Light Rail Capital
Snohomish 2007 $000s 911,969 214,374 176,471 58,467 - - - - - - - -
North King 2007 $000s 2,325,687 115,589 79,896 38,786 - - - - - - - -
Unit 2009-2023 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
South King 2007 $000s 1,332,190 133,995 107,071 25,583 - - - - - - - -
East King 2007 $000s 3,152,797 64,641 4,597 530 - - - - - - - -
Pierce 2007 $000s 195,325 1,494 264 - - - - - - - - -
Regional Express Bus Capital
Snohomish 2007 $000s 44,949 1,508 1,508 1,508 - - - - - - - -
North King 2007 $000s - - - - - - - - - - - -
South King 2007 $000s 84,651 2,680 2,680 2,680 - - - - - - - -
East King 2007 $000s 98,370 - - - - - - - - - - -
Pierce 2007 $000s 48,222 - - - - - - - - - - -
Commuter Rail Capital
Snohomish 2007 $000s 54,603 5,971 8,908 4,889 - - - - - - - -
North King 2007 $000s - - - - - - - - - - - -
South King 2007 $000s 92,240 9,056 10,025 5,194 - - - - - - - -
East King 2007 $000s - - - - - - - - - - - -
Pierce 2007 $000s 649,497 60,064 78,834 42,383 - - - - - - - -
Regional Fund Capital
Regional Fund 2007 $000s 111,550 6,587 5,764 5,764 1,587 764 1,527 1,527 1,527 1,527 1,527 1,527
Weighted Average Capital Cost Inflation Factors
Light Rail – Composite Cumulative Inflation Factor 1.6727 1.7265 1.8081 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
Regional Express – Composite Cumulative Inflation Factor 1.6261 1.6814 1.7387 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
Commuter Rail – Composite Cumulative Inflation Factor 1.6888 1.7451 1.8081 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
Light Rail Capital
Snohomish Nominal $000s 1,482,737 358,592 304,673 105,712 - - - - - - - - -
North King Nominal $000s 3,449,921 193,350 137,939 70,128 - - - - - - - - -
South King Nominal $000s 2,061,241 224,138 184,856 46,255 - - - - - - - - -
East King Nominal $000s 4,580,270 108,128 7,937 959 - - - - - - - - -
Pierce Nominal $000s 271,480 2,499 456 - - - - - - - - - -
Regional Express Bus Capital
Snohomish Nominal $000s 60,335 2,453 2,536 2,623 - - - - - - - - -
North King Nominal $000s - - - - - - - - - - - - -
South King Nominal $000s 112,673 4,358 4,507 4,660 - - - - - - - - -
East King Nominal $000s 125,978 - - - - - - - - - - - -
Pierce Nominal $000s 61,566 - - - - - - - - - - - -
Commuter Rail Capital
Snohomish Nominal $000s 89,926 10,085 15,546 8,840 - - - - - - - - -
North King Nominal $000s - - - - - - - - - - - - -
South King Nominal $000s 128,871 15,295 17,495 9,391 - - - - - - - - -
East King Nominal $000s - - - - - - - - - - - - -
Pierce Nominal $000s 933,932 101,438 137,573 76,633 - - - - - - - - -
Regional Fund Capital
Regional Fund Nominal $000s 152,822 10,710 9,691 10,021 2,853 1,420 2,937 3,041 3,148 3,260 3,376 3,496 -
O&M Costs by Department/Mode — Subarea Detail
Light Rail O&M
Snohomish 2007 $000s 16,737 - 5,068 11,669 13,304 14,309 15,315 16,320 17,326 18,331 19,337 19,337 -
North King 2007 $000s 65,867 14,203 15,591 17,186 18,815 20,237 21,659 23,081 24,503 25,925 27,347 27,347 -
South King 2007 $000s 16,024 298 4,972 10,619 11,646 12,526 13,406 14,286 15,167 16,047 16,927 16,927 -
East King 2007 $000s 60,405 16,026 17,829 19,417 21,004 22,592 24,179 25,767 27,354 28,942 30,529 30,529 -
Pierce 2007 $000s - - - - - - - - - - - - -
Regional Express Bus O&M
Snohomish 2007 $000s 45,499 3,979 3,979 1,279 (1,421) (1,421) (1,421) (1,421) (1,421) (1,421) (1,421) (1,421) -
North King 2007 $000s - - - - - - - - - - - - -
South King 2007 $000s 15,246 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 1,386 -
East King 2007 $000s 50,768 (1,735) (1,735) (1,735) (1,735) (1,735) (1,735) (1,735) (1,735) (1,735) (1,735) (1,735) -
Unit 2009-2023 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Pierce 2007 $000s 26,782 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 2,240 -
Commuter Rail O&M
Snohomish 2007 $000s 3,567 1,019 1,019 1,019 1,019 1,019 1,019 1,019 1,019 1,019 1,019 1,019 -
North King 2007 $000s - - - - - - - - - - - - -
South King 2007 $000s 2,520 240 240 240 240 240 240 240 240 240 240 240 -
East King 2007 $000s - - - - - - - - - - - - -
Pierce 2007 $000s 93,680 12,140 12,140 12,550 12,960 12,960 12,960 12,960 12,960 12,960 12,960 12,960 -
Regional Fund O&M
Regional Fund 2007 $000s 799,398 57,015 49,527 38,435 20,850 20,574 20,849 21,124 21,399 21,674 21,950 21,950 -
Light Rail O&M
Snohomish Nominal $000s 32,383 - 9,529 22,855 27,147 30,420 33,923 37,708 41,757 46,088 50,718 52,918 55,214
North King Nominal $000s 119,320 25,632 29,312 33,661 38,392 43,021 47,975 53,328 59,055 65,179 71,728 74,839 78,085
South King Nominal $000s 30,918 538 9,348 20,800 23,764 26,629 29,695 33,009 36,554 40,345 44,398 46,324 48,333
East King Nominal $000s 112,834 28,923 33,521 38,031 42,860 48,028 53,558 59,534 65,928 72,765 80,076 83,549 87,173
Pierce Nominal $000s - - - - - - - - - - - - -
Regional Express Bus O&M
Snohomish Nominal $000s 75,419 7,884 8,268 2,787 (3,249) (3,407) (3,574) (3,753) (3,941) (4,138) (4,346) (4,565) (4,795)
North King Nominal $000s - - - - - - - - - - - - -
South King Nominal $000s 26,274 2,746 2,880 3,020 3,168 3,322 3,485 3,659 3,843 4,036 4,238 4,452 4,676
East King Nominal $000s 73,870 (3,438) (3,605) (3,781) (3,966) (4,159) (4,363) (4,581) (4,811) (5,052) (5,306) (5,573) (5,854)
Pierce Nominal $000s 45,319 4,439 4,655 4,882 5,121 5,371 5,633 5,915 6,212 6,523 6,851 7,196 7,558
Commuter Rail O&M
Snohomish Nominal $000s 6,359 1,767 1,835 1,907 1,981 2,057 2,138 2,223 2,313 2,405 2,502 2,603 2,708
North King Nominal $000s - - - - - - - - - - - - -
South King Nominal $000s 3,970 416 432 449 466 484 503 524 545 566 589 613 638
East King Nominal $000s - - - - - - - - - - - - -
Pierce Nominal $000s 154,894 21,045 21,861 23,476 25,184 26,162 27,181 28,271 29,405 30,587 31,818 33,103 34,439
Regional Fund O&M
Regional Fund Nominal $000s 1,141,438 92,713 83,277 66,827 37,487 38,253 40,090 42,055 44,110 46,260 48,511 50,239 52,030
Capital Reserve by Subarea
Snohomish Nominal $000s - 14,951 14,951 14,951 14,951 14,951 14,951 14,951 14,951 14,951
North King Nominal $000s - 36,917 36,917 36,917 36,917 36,917 36,917 36,917 36,917 36,917
South King Nominal $000s - 23,310 23,310 23,310 23,310 23,310 23,310 23,310 23,310 23,310
East King Nominal $000s - 47,884 47,884 47,884 47,884 47,884 47,884 47,884 47,884 47,884
Pierce Nominal $000s - 12,913 12,913 12,913 12,913 12,913 12,913 12,913 12,913 12,913
135,975 135,975 135,975
SOUND TRANSIT ST2 FINANCIAL MODEL-A
O&M Costs
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
25 26 27 28 29 30 31 32
Unit 2009-2023 2033 2034 2035 2036 2037 2038 2039 2040
O&M Costs
Light Rail 2007 $000s 159,032 - - - - - - - -
Regional Express 2007 $000s 138,294 - - - - - - - -
Commuter Rail 2007 $000s 99,767 - - - - - - - -
Regional Fund 2007 $000s 799,398 - - - - - - - -
Total Gross O&M 2007 $000s 1,196,491 - - - - - - - -
Total Net O&M 2007 $000s 1,196,491 - - - - - - - -
Light Rail Nominal $000s 295,455 280,488 292,934 305,831 319,229 333,199 347,801 363,070 379,033
Regional Express Nominal $000s 220,882 1,665 1,751 1,840 1,934 2,032 2,135 2,244 2,358
Commuter Rail Nominal $000s 165,223 39,314 40,941 42,621 44,360 46,169 48,054 50,019 52,068
Regional Fund Nominal $000s 1,141,438 53,889 55,862 57,889 59,977 62,137 64,379 66,707 69,123
Total Gross O&M Nominal $000s 1,822,998 375,356 391,489 408,182 425,500 443,537 462,369 482,040 502,583
Total Net O&M Nominal $000s 1,822,998 375,356 391,489 408,182 425,500 443,537 462,369 482,040 502,583
Operating Reserve Nominal $000s 53,728 3,788 4,033 4,173 4,330 4,509 4,708 4,918 5,136
Total Nominal $000s 53,728 3,788 4,033 4,173 4,330 4,509 4,708 4,918 5,136
Capital Costs
Light Rail — Construction 2007 $000s 5,186,933 - - - - - - - -
Light Rail — ROW 2007 $000s 996,326 - - - - - - - -
Light Rail — Other Capital 2007 $000s 1,734,709 - - - - - - - -
Regional Express — Construction 2007 $000s 135,290 - - - - - - - -
Regional Express — ROW 2007 $000s 37,067 - - - - - - - -
Regional Express — Other Capital 2007 $000s 103,834 - - - - - - - -
Commuter Rail — Construction 2007 $000s 421,823 - - - - - - - -
Commuter Rail — ROW 2007 $000s 47,386 - - - - - - - -
Commuter Rail — Other Capital 2007 $000s 327,130 - - - - - - - -
Regional Fund — Other Capital 2007 $000s 111,550 - - - - - - - -
Total 2007 $000s 9,102,049 - - - - - - - -
Light Rail — Construction Nominal $000s 7,920,216 - - - - - - - -
Light Rail — ROW Nominal $000s 1,416,528 - - - - - - - -
Light Rail — Other Capital Nominal $000s 2,508,905 - - - - - - - -
Regional Express — Construction Nominal $000s 169,996 - - - - - - - -
Regional Express — ROW Nominal $000s 43,583 - - - - - - - -
Regional Express — Other Capital Nominal $000s 146,972 - - - - - - - -
Commuter Rail — Construction Nominal $000s 655,031 - - - - - - - -
Commuter Rail — ROW Nominal $000s 69,571 - - - - - - - -
Commuter Rail — Other Capital Nominal $000s 428,126 - - - - - - - -
Regional Fund — Other Capital Nominal $000s 152,822 - - - - - - - -
Total Nominal $000s 13,511,750 - - - - - - - -
2020 ST2 Additional Reserve Nominal $000s -
Capital Reserve Nominal $000s - 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975
Total Nominal $000s - 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975
Capital Costs by Department/Mode — Subarea Detail
Light Rail Capital
Snohomish 2007 $000s 911,969
North King 2007 $000s 2,325,687
Unit 2009-2023 2033 2034 2035 2036 2037 2038 2039 2040
South King 2007 $000s 1,332,190
East King 2007 $000s 3,152,797
Pierce 2007 $000s 195,325
Regional Express Bus Capital
Snohomish 2007 $000s 44,949
North King 2007 $000s -
South King 2007 $000s 84,651
East King 2007 $000s 98,370
Pierce 2007 $000s 48,222
Commuter Rail Capital
Snohomish 2007 $000s 54,603
North King 2007 $000s -
South King 2007 $000s 92,240
East King 2007 $000s -
Pierce 2007 $000s 649,497
Regional Fund Capital
Regional Fund 2007 $000s 111,550
Weighted Average Capital Cost Inflation Factors
Light Rail – Composite Cumulative Inflation Factor 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
Regional Express – Composite Cumulative Inflation Factor 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
Commuter Rail – Composite Cumulative Inflation Factor 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
Light Rail Capital
Snohomish Nominal $000s 1,482,737 - - - - - - - -
North King Nominal $000s 3,449,921 - - - - - - - -
South King Nominal $000s 2,061,241 - - - - - - - -
East King Nominal $000s 4,580,270 - - - - - - - -
Pierce Nominal $000s 271,480 - - - - - - - -
Regional Express Bus Capital
Snohomish Nominal $000s 60,335 - - - - - - - -
North King Nominal $000s - - - - - - - - -
South King Nominal $000s 112,673 - - - - - - - -
East King Nominal $000s 125,978 - - - - - - - -
Pierce Nominal $000s 61,566 - - - - - - - -
Commuter Rail Capital
Snohomish Nominal $000s 89,926 - - - - - - - -
North King Nominal $000s - - - - - - - - -
South King Nominal $000s 128,871 - - - - - - - -
East King Nominal $000s - - - - - - - - -
Pierce Nominal $000s 933,932 - - - - - - - -
Regional Fund Capital
Regional Fund Nominal $000s 152,822 - - - - - - - -
O&M Costs by Department/Mode — Subarea Detail
Light Rail O&M
Snohomish 2007 $000s 16,737 - - - - - - - -
North King 2007 $000s 65,867 - - - - - - - -
South King 2007 $000s 16,024 - - - - - - - -
East King 2007 $000s 60,405 - - - - - - - -
Pierce 2007 $000s - - - - - - - - -
Regional Express Bus O&M
Snohomish 2007 $000s 45,499 - - - - - - - -
North King 2007 $000s - - - - - - - - -
South King 2007 $000s 15,246 - - - - - - - -
East King 2007 $000s 50,768 - - - - - - - -
Unit 2009-2023 2033 2034 2035 2036 2037 2038 2039 2040
Pierce 2007 $000s 26,782 - - - - - - - -
Commuter Rail O&M
Snohomish 2007 $000s 3,567 - - - - - - - -
North King 2007 $000s - - - - - - - - -
South King 2007 $000s 2,520 - - - - - - - -
East King 2007 $000s - - - - - - - - -
Pierce 2007 $000s 93,680 - - - - - - - -
Regional Fund O&M
Regional Fund 2007 $000s 799,398 - - - - - - - -
Light Rail O&M
Snohomish Nominal $000s 32,383 57,613 60,170 62,819 65,571 68,441 71,440 74,576 77,855
North King Nominal $000s 119,320 81,479 85,095 88,841 92,733 96,791 101,033 105,468 110,105
South King Nominal $000s 30,918 50,434 52,672 54,991 57,400 59,912 62,537 65,283 68,153
East King Nominal $000s 112,834 90,962 94,998 99,181 103,526 108,056 112,791 117,743 122,920
Pierce Nominal $000s - - - - - - - - -
Regional Express Bus O&M
Snohomish Nominal $000s 75,419 (5,037) (5,296) (5,566) (5,849) (6,146) (6,458) (6,787) (7,133)
North King Nominal $000s - - - - - - - - -
South King Nominal $000s 26,274 4,912 5,164 5,428 5,703 5,993 6,297 6,618 6,955
East King Nominal $000s 73,870 (6,149) (6,465) (6,795) (7,140) (7,502) (7,884) (8,285) (8,707)
Pierce Nominal $000s 45,319 7,940 8,348 8,774 9,219 9,687 10,179 10,697 11,243
Commuter Rail O&M
Snohomish Nominal $000s 6,359 2,818 2,935 3,055 3,180 3,309 3,444 3,585 3,732
North King Nominal $000s - - - - - - - - -
South King Nominal $000s 3,970 664 691 719 749 779 811 844 879
East King Nominal $000s - - - - - - - - -
Pierce Nominal $000s 154,894 35,833 37,316 38,847 40,432 42,080 43,798 45,590 47,458
Regional Fund O&M
Regional Fund Nominal $000s 1,141,438 53,889 55,862 57,889 59,977 62,137 64,379 66,707 69,123
Capital Reserve by Subarea
Snohomish Nominal $000s 14,951 14,951 14,951 14,951 14,951 14,951 14,951 14,951
North King Nominal $000s 36,917 36,917 36,917 36,917 36,917 36,917 36,917 36,917
South King Nominal $000s 23,310 23,310 23,310 23,310 23,310 23,310 23,310 23,310
East King Nominal $000s 47,884 47,884 47,884 47,884 47,884 47,884 47,884 47,884
Pierce Nominal $000s 12,913 12,913 12,913 12,913 12,913 12,913 12,913 12,913
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Ridership and Fares
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
Unit 2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Average Fare Per Boarding
Light Rail Nominal $ 1.00 1.03 1.04 1.07 1.09 1.11 1.14 1.16 1.19 1.22 1.25 1.27 1.30 1.34 1.37 1.40 1.44 1.47 1.51 1.55 1.58 1.63 1.67
Commuter Rail Nominal $ 3.15 3.24 3.32 3.39 3.47 3.55 3.63 3.71 3.79 3.88 3.97 4.06 4.16 4.26 4.36 4.46 4.57 4.68 4.80 4.92 5.05 5.18 5.31
Regional Express Nominal $ 1.34 1.38 1.41 1.44 1.48 1.51 1.54 1.58 1.61 1.65 1.69 1.73 1.77 1.81 1.85 1.90 1.94 1.99 2.04 2.09 2.15 2.20 2.26
Total Nominal $ 1.34 1.38 1.41 1.44 1.58 1.62 1.65 2.18 2.54 1.86 1.78 1.74 1.61 1.58 1.57 1.57 1.61 1.64 1.68 1.71 1.79 1.83 1.88
Ridership
Light Rail 000 89,237 - - - - - - - - - 4,837 7,045 9,504 16,619 22,282 28,951 36,139 37,223 38,340 39,267 43,713 36,296 37,155 38,038
Commuter Rail 000 14,580 - - - - 61 124 125 947 1,789 1,811 1,833 1,893 1,953 1,977 2,065 2,156 2,182 2,209 2,236 2,263 2,291 2,319 2,348
Regional Express 000 24,118 1,030 1,030 1,045 1,072 1,099 2,201 2,341 2,401 2,436 2,472 2,508 1,807 1,084 1,101 491 (139) (141) (143) (145) (147) (149) (151) (154)
Total 000 127,935 1,030 1,030 1,045 1,072 1,161 2,325 2,467 3,348 4,226 9,120 11,386 13,203 19,655 25,360 31,507 38,156 39,265 40,406 41,358 45,829 38,437 39,323 40,231
Fare Revenues by Mode (ST2)
Light Rail Nominal $000s 117,856 - - - - - - - - - 5,891 8,772 12,114 21,686 29,775 39,617 50,645 53,422 56,356 59,183 67,556 57,519 60,382 63,402
Commuter Rail Nominal $000s 58,927 - - - - 212 440 455 3,515 6,788 7,026 7,272 7,684 8,118 8,415 9,003 9,623 9,976 10,342 10,735 11,142 11,565 12,006 12,465
Regional Express Nominal $000s 38,326 1,381 1,416 1,474 1,546 1,622 3,321 3,611 3,787 3,929 4,076 4,228 3,118 1,915 1,993 910 (264) (274) (284) (296) (308) (320) (333) (348)
Total Nominal $000s 215,110 1,381 1,416 1,474 1,546 1,835 3,761 4,066 7,302 10,717 16,992 20,272 22,916 31,719 40,183 49,530 60,004 63,124 66,414 69,622 78,390 68,764 72,055 75,519
Fare Revenues by Subarea (ST2)
Snohomish Nominal $000s 21,659 438 469 488 511 536 1,191 1,265 1,312 1,362 1,413 1,466 1,673 1,894 1,969 5,673 9,516 10,041 10,596 10,969 11,356 11,757 12,173 12,605
North King Nominal $000s 70,802 - - - - - - - - - 4,090 6,871 9,729 13,436 16,851 19,827 23,653 24,950 26,320 27,685 33,529 25,872 27,203 28,609
South King Nominal $000s 22,267 70 69 72 75 113 265 325 378 392 2,207 2,323 2,823 3,486 4,044 5,627 7,287 7,679 8,093 8,539 9,010 4,300 4,533 4,779
East King Nominal $000s 37,676 717 738 768 806 846 1,538 1,658 1,720 1,783 1,849 1,918 716 4,636 8,747 9,236 9,751 10,296 10,871 11,491 13,138 15,044 15,902 16,810
Pierce Nominal $000s 62,704 156 140 147 154 340 767 818 3,892 7,180 7,433 7,695 7,975 8,267 8,572 9,168 9,797 10,158 10,534 10,937 11,356 11,791 12,244 12,716
Total Nominal $000s 215,109 1,381 1,416 1,474 1,546 1,835 3,761 4,066 7,302 10,717 16,992 20,272 22,916 31,719 40,183 49,530 60,004 63,124 66,414 69,622 78,390 68,764 72,055 75,519
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Ridership and Fares
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
24 25 26 27 28 29 30 31 32
Unit 2009-2023 2032 2033 2034 2035 2036 2037 2038 2039 2040
Average Fare Per Boarding
Light Rail Nominal $ 1.71 1.76 1.80 1.85 1.90 1.95 2.00 2.05 2.10
Commuter Rail Nominal $ 5.45 5.59 5.74 5.89 6.04 6.20 6.36 6.53 6.70
Regional Express Nominal $ 2.31 2.38 2.44 2.50 2.57 2.63 2.70 2.77 2.85
Total Nominal $ 1.93 1.98 2.03 2.08 2.14 2.19 2.25 2.31 2.37
Ridership
Light Rail 000 89,237 38,418 38,802 39,190 39,582 39,978 40,378 40,782 41,189 41,601
Commuter Rail 000 14,580 2,376 2,406 2,435 2,465 2,495 2,526 2,557 2,588 2,620
Regional Express 000 24,118 (157) (159) (162) (165) (168) (171) (174) (177) (180)
Total 000 127,935 40,638 41,048 41,463 41,882 42,305 42,733 43,164 43,601 44,041
Fare Revenues by Mode (ST2)
Light Rail Nominal $000s 117,856 65,683 68,106 70,595 73,160 75,814 78,569 81,431 84,402 87,485
Commuter Rail Nominal $000s 58,927 12,942 13,449 13,972 14,512 15,072 15,655 16,261 16,892 17,548
Regional Express Nominal $000s 38,326 (363) (379) (396) (413) (431) (450) (470) (491) (512)
Total Nominal $000s 215,110 78,262 81,177 84,172 87,259 90,455 93,774 97,222 100,803 104,520
Fare Revenues by Subarea (ST2)
Snohomish Nominal $000s 21,659 13,053 13,529 14,017 14,520 15,040 15,580 16,141 16,722 17,325
North King Nominal $000s 70,802 29,638 30,732 31,855 33,012 34,210 35,453 36,744 38,085 39,476
South King Nominal $000s 22,267 4,955 5,143 5,336 5,535 5,741 5,955 6,178 6,409 6,650
East King Nominal $000s 37,676 17,409 18,044 18,696 19,367 20,062 20,783 21,531 22,308 23,113
Pierce Nominal $000s 62,704 13,207 13,730 14,268 14,824 15,402 16,002 16,628 17,279 17,957
Total Nominal $000s 215,109 78,262 81,177 84,172 87,259 90,455 93,774 97,222 100,803 104,520
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Grants
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6 7
Unit 2009-2023 2009 2010 2011 2012 2013 2014 2015
Grant Awards
FFGA Nominal $000s 600,000 - - - 20,000 40,000 50,000 75,000
ST2 Non-New Starts Capital Nominal $000s 237,000 - 31,000 14,000 19,000 26,000 20,000 14,000
ST2 5307 and 5309 Nominal $000s 58,499 - - - 2,666 1,620 1,916 2,156
Total Grants Nominal $000s 895,499 - 31,000 14,000 41,666 67,620 71,916 91,156
Grant Drawdowns
FFGA Nominal $000s 600,000 - - - 20,000 40,000
ST2 Non-New Starts Capital Nominal $000s 237,000 31,000 14,000 19,000 26,000 20,000 14,000
ST2 5307 and 5309 Nominal $000s 58,499 - - - 2,666 1,620 1,916 2,156
Total Grants Nominal $000s 895,499 - 31,000 14,000 21,666 27,620 41,916 56,156
Sound Move Grants (Drawdown)
Snohomish Nominal $000s 35,822 2,735 1,409 1,279 45 27 33 23
North King Nominal $000s 992,467 54,115 119,317 120,926 121,263 131,741 127,193 122,998
South King Nominal $000s 100,872 27,256 8,797 5,459 74 141 138 245
East King Nominal $000s 85,700 12,741 693 - 807 1,541 596 1,107
Pierce Nominal $000s 110,543 19,802 19,500 4,544 4,674 1,117 - -
Total Nominal $000s -
SM +ST2 Consolidated Grants (Drawdown) 2,735 7,609 4,079 4,090 5,409 4,101 3,858
Snohomish Nominal $000s 1,456,123 54,115 125,517 123,726 115,320 122,771 129,338 139,598
North King Nominal $000s 188,596 27,256 14,997 8,259 5,659 8,347 8,938 9,164
South King Nominal $000s 300,613 12,741 6,893 2,800 13,372 16,932 20,569 22,711
East King Nominal $000s 183,946 19,802 25,700 7,344 10,088 8,731 6,930 5,199
Pierce Nominal $000s -
Total Nominal $000s -
ST2 Only Grants (Drawdown)
Snohomish Nominal $000s 55,803 - 6,200 2,800 4,045 5,382 4,068 3,835
North King Nominal $000s 463,657 - 6,200 2,800 (5,943) (8,971) 2,145 16,600
South King Nominal $000s 87,724 - 6,200 2,800 5,585 8,206 8,800 8,918
East King Nominal $000s 214,912 - 6,200 2,800 12,565 15,390 19,973 21,604
Pierce Nominal $000s 73,403 - 6,200 2,800 5,414 7,613 6,930 5,199
Total Nominal $000s 895,499 - 31,000 14,000 21,666 27,620 41,916 56,156
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Grants
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
8 9 10 11 12 13 14
Unit 2009-2023 2016 2017 2018 2019 2020 2021 2022
Grant Awards
FFGA Nominal $000s 600,000 90,000 120,000 120,000 85,000 - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 39,000 4,000 10,000 18,000 10,000 4,000 24,000
ST2 5307 and 5309 Nominal $000s 58,499 3,743 6,263 7,493 4,399 4,932 5,275 5,915
Total Grants Nominal $000s 895,499 132,743 130,263 137,493 107,399 14,932 9,275 29,915
Grant Drawdowns
FFGA Nominal $000s 600,000 50,000 75,000 90,000 120,000 120,000 85,000 -
ST2 Non-New Starts Capital Nominal $000s 237,000 39,000 4,000 10,000 18,000 10,000 4,000 24,000
ST2 5307 and 5309 Nominal $000s 58,499 3,743 6,263 7,493 4,399 4,932 5,275 5,915
Total Grants Nominal $000s 895,499 92,743 85,263 107,493 142,399 134,932 94,275 29,915
Sound Move Grants (Drawdown)
Snohomish Nominal $000s 35,822 67 3,594 3,864 4,369 4,459 4,534 4,645
North King Nominal $000s 992,467 148,374 5,547 5,972 6,747 6,879 6,983 7,140
South King Nominal $000s 100,872 322 7,002 8,296 8,814 8,349 8,476 8,670
East King Nominal $000s 85,700 1,322 7,861 8,484 9,630 9,869 10,072 10,361
Pierce Nominal $000s 110,543 169 7,259 7,793 8,798 8,969 9,105 9,317
Total Nominal $000s -
SM +ST2 Consolidated Grants (Drawdown) 10,287 4,938 6,527 8,281 6,343 4,852 10,338
Snohomish Nominal $000s 1,456,123 178,252 66,797 80,579 106,424 107,043 79,588 15,087
North King Nominal $000s 188,596 14,752 11,055 14,312 16,640 13,668 10,692 13,224
South King Nominal $000s 300,613 29,620 22,203 26,776 33,744 33,497 27,596 17,060
East King Nominal $000s 183,946 10,085 11,533 13,707 15,669 12,906 10,717 14,340
Pierce Nominal $000s -
Total Nominal $000s -
ST2 Only Grants (Drawdown)
Snohomish Nominal $000s 55,803 10,220 1,344 2,663 3,912 1,884 318 5,693
North King Nominal $000s 463,657 29,878 61,250 74,607 99,676 100,164 72,606 7,947
South King Nominal $000s 87,724 14,430 4,053 6,016 7,826 5,319 2,216 4,554
East King Nominal $000s 214,912 28,298 14,342 18,293 24,114 23,628 17,524 6,699
Pierce Nominal $000s 73,403 9,916 4,273 5,915 6,870 3,937 1,612 5,023
Total Nominal $000s 895,499 92,743 85,263 107,493 142,399 134,932 94,275 29,915
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Grants
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
15 16 17 18 19 20 21
Unit 2009-2023 2023 2024 2025 2026 2027 2028 2029
Grant Awards
FFGA Nominal $000s 600,000 - - - - - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 4,000 6,000 12,000 6,000 4,000 14,000 4,000
ST2 5307 and 5309 Nominal $000s 58,499 12,121 15,687 13,397 13,512 13,559 13,829 23,736
Total Grants Nominal $000s 895,499 16,121 21,687 25,397 19,512 17,559 27,829 27,736
Grant Drawdowns
FFGA Nominal $000s 600,000 - - - - - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 4,000 6,000 12,000 6,000 4,000 14,000 4,000
ST2 5307 and 5309 Nominal $000s 58,499 12,121 15,687 13,397 13,512 13,559 13,829 23,736
Total Grants Nominal $000s 895,499 16,121 21,687 25,397 19,512 17,559 27,829 27,736
Sound Move Grants (Drawdown)
Snohomish Nominal $000s 35,822 4,741 4,789 5,184 5,250 5,314 5,369 5,441
North King Nominal $000s 992,467 7,270 7,324 7,903 7,976 8,050 8,107 8,187
South King Nominal $000s 100,872 8,833 8,905 9,619 9,720 9,820 9,901 10,011
East King Nominal $000s 85,700 10,616 10,768 11,702 11,898 12,086 12,255 12,462
Pierce Nominal $000s 110,543 9,495 9,579 10,354 10,472 10,586 10,683 10,811
Total Nominal $000s -
SM +ST2 Consolidated Grants (Drawdown) 8,180 8,750 10,089 8,971 8,642 10,732 10,110
Snohomish Nominal $000s 1,456,123 11,968 13,287 14,700 13,618 13,323 15,454 15,638
North King Nominal $000s 188,596 11,633 12,932 14,353 13,284 12,999 15,143 15,291
South King Nominal $000s 300,613 14,099 15,587 17,103 16,111 15,895 18,115 18,833
East King Nominal $000s 183,946 11,196 12,497 13,913 12,844 12,557 14,699 14,776
Pierce Nominal $000s -
Total Nominal $000s -
ST2 Only Grants (Drawdown)
Snohomish Nominal $000s 55,803 3,439 3,960 4,905 3,721 3,328 5,363 4,669
North King Nominal $000s 463,657 4,698 5,963 6,797 5,642 5,273 7,347 7,451
South King Nominal $000s 87,724 2,800 4,026 4,734 3,564 3,179 5,241 5,279
East King Nominal $000s 214,912 3,483 4,819 5,401 4,213 3,808 5,861 6,371
Pierce Nominal $000s 73,403 1,701 2,918 3,559 2,372 1,971 4,017 3,965
Total Nominal $000s 895,499 16,121 21,687 25,397 19,512 17,559 27,829 27,736
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Grants
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
22 23 24 25 26 27 28
Unit 2009-2023 2030 2031 2032 2033 2034 2035 2036
Grant Awards
FFGA Nominal $000s 600,000 - - - - - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 6,000 12,000 6,000 4,000 14,000 4,000 6,000
ST2 5307 and 5309 Nominal $000s 58,499 24,061 24,275 24,517 39,722 40,119 40,520 40,925
Total Grants Nominal $000s 895,499 30,061 36,275 30,517 43,722 54,119 44,520 46,925
Grant Drawdowns
FFGA Nominal $000s 600,000 - - - - - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 6,000 12,000 6,000 4,000 14,000 4,000 6,000
ST2 5307 and 5309 Nominal $000s 58,499 24,061 24,275 24,517 39,722 40,119 40,520 40,925
Total Grants Nominal $000s 895,499 30,061 36,275 30,517 43,722 54,119 44,520 46,925
Sound Move Grants (Drawdown)
Snohomish Nominal $000s 35,822 5,498 5,559 5,617 5,675 5,734 5,793 5,854
North King Nominal $000s 992,467 8,242 8,304 8,363 8,426 8,488 8,551 8,613
South King Nominal $000s 100,872 10,094 10,184 10,269 10,357 10,446 10,535 10,625
East King Nominal $000s 85,700 12,636 12,815 12,988 13,157 13,329 13,504 13,682
Pierce Nominal $000s 110,543 10,911 11,021 11,125 11,230 11,336 11,443 11,551
Total Nominal $000s -
SM +ST2 Consolidated Grants (Drawdown) 10,608 11,895 10,783 12,437 14,545 12,653 13,162
Snohomish Nominal $000s 1,456,123 16,176 17,499 16,423 19,273 21,430 19,586 20,144
North King Nominal $000s 188,596 15,846 17,186 16,127 18,934 21,109 19,286 19,863
South King Nominal $000s 300,613 19,480 20,902 19,926 23,598 25,869 24,143 24,822
East King Nominal $000s 183,946 15,332 16,675 15,619 18,323 20,499 18,678 19,258
Pierce Nominal $000s -
Total Nominal $000s -
ST2 Only Grants (Drawdown)
Snohomish Nominal $000s 55,803 5,110 6,337 5,166 6,762 8,811 6,860 7,309
North King Nominal $000s 463,657 7,934 9,195 8,060 10,848 12,941 11,036 11,531
South King Nominal $000s 87,724 5,752 7,002 5,858 8,577 10,663 8,751 9,239
East King Nominal $000s 214,912 6,843 8,087 6,938 10,441 12,539 10,639 11,140
Pierce Nominal $000s 73,403 4,421 5,654 4,494 7,094 9,164 7,235 7,707
Total Nominal $000s 895,499 30,061 36,275 30,517 43,722 54,119 44,520 46,925
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Grants
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
29 30 31 32
Unit 2009-2023 2037 2038 2039 2040
Grant Awards
FFGA Nominal $000s 600,000 - - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 12,000 6,000 4,000 14,000
ST2 5307 and 5309 Nominal $000s 58,499 41,334 41,748 61,845 62,463
Total Grants Nominal $000s 895,499 53,334 47,748 65,845 76,463
Grant Drawdowns
FFGA Nominal $000s 600,000 - - - -
ST2 Non-New Starts Capital Nominal $000s 237,000 12,000 6,000 4,000 14,000
ST2 5307 and 5309 Nominal $000s 58,499 41,334 41,748 61,845 62,463
Total Grants Nominal $000s 895,499 53,334 47,748 65,845 76,463
Sound Move Grants (Drawdown)
Snohomish Nominal $000s 35,822 5,914 5,976 6,038 6,100
North King Nominal $000s 992,467 8,676 8,740 8,804 8,869
South King Nominal $000s 100,872 10,715 10,806 10,898 10,991
East King Nominal $000s 85,700 13,862 14,043 14,226 14,411
Pierce Nominal $000s 110,543 11,661 11,771 11,883 11,996
Total Nominal $000s -
SM +ST2 Consolidated Grants (Drawdown) 14,473 13,384 15,671 17,808
Snohomish Nominal $000s 1,456,123 21,502 20,463 24,290 26,487
North King Nominal $000s 188,596 21,243 20,224 24,028 26,251
South King Nominal $000s 300,613 26,303 25,388 30,399 32,750
East King Nominal $000s 183,946 20,641 19,625 23,307 25,535
Pierce Nominal $000s -
Total Nominal $000s -
ST2 Only Grants (Drawdown)
Snohomish Nominal $000s 55,803 8,559 7,409 9,633 11,707
North King Nominal $000s 463,657 12,826 11,723 15,486 17,618
South King Nominal $000s 87,724 10,528 9,418 13,129 15,260
East King Nominal $000s 214,912 12,442 11,345 16,173 18,339
Pierce Nominal $000s 73,403 8,980 7,853 11,424 13,539
Total Nominal $000s 895,499 53,334 47,748 65,845 76,463
Appendix C: Debt
Bond Reserve 7.15%
COI 1.50%
Reserve Earnings 3.00%
Cash Earnings 3.00%
#NAME? Bond Rate 6.00%
Minimum Cash Bal ($000) 5,000 <<< INPUT MINIMUM CASH BALANCE HERE
Early Principal Redemption Begins 2038 <<< INPUT FIRST YEAR OF EARLY PRINCIPAL REDEMPTION HERE (ENTER "1" FOR END OF CAPITAL EXPENDITURES)
Bond After CapEx Completed? Yes
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034
$000
CUSTOM PARAMETERS
Capital Expenditures 39,506 111,667 324,102 452,901 551,536 731,816 1,052,826 1,412,856 1,675,785 1,690,199 1,771,159 1,507,921 1,031,046 823,208 335,223 2,853 1,420 2,937 3,041 3,148 3,260 3,376 3,496 - - -
Cash Flow Before Financing #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending Cash Balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Bond Sizing
Sizing Type Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level
Bond Sizing (Manual or Calculated) Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Manual Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated
Term 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30
Interest Only 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5
Interest rate 5.00% 5.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
Manual Override of Bonds Issued - - - - - - - - - - - - - - - 125,000 - - - - - - - - - - -
Bonds Issued - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 125,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27
Sources and Uses 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000
Financing requirements - - - - - - - - - - - - - - - - - - - - - - - - - - -
Bond reserve, issuance costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Par amount of bonds #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Proceeds #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
DEBT SERVICE
Based on issue size of: #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
12/1/2008
Annual payments per series
2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
total annual payments - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27
total debt service - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
PRINCIPAL AMORTIZATION 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Issue Parameters
Dated/Delivery Date 12/1/2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
First Full Year of Interest Date #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
First Principal Date #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Last Principal Date #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Proceeds #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Proceeds Requirement - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 114,187.5 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Rounding #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Goal Seek "Check" to: - - - - - - - - - - - - - - - - - - - - - - - - - - -
Iterative Check (Check) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Iterative Margin (CALC1) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt Service Capacity FUDGE (CALC2) - 4.4 1.7 3.2 3.4 3.7 3.6 2.7 55,106.5 90,900.0 91,391.9 98,817.0 79,757.0 44,682.8 33,528.3 9,615.4 ############ ############ ############ 2.0 2.6 (748,492,160) 5.2 3.4 3.8 2.6 -
Year
2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 41 of 85
Appendix C: Debt
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Year
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2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 42 of 85
Appendix C: Debt
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total interest payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
TOTAL DS PAYMENTS 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Year
2008 - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total debt service payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level
30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30
5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5
6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
- - - - - - - - - - - - - - - - - - - - - - - - - - -
- - - 96,805 399,225 658,560 814,520 1,028,445 1,197,880 1,222,090 1,148,165 1,057,995 595,260 - - - - - - - - - - - - - -
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 43 of 85
Appendix C: Debt
Yes
2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060 2061 2062 2063 2064 2065 2066 2067 2068 2069 2070
- - - - - - - - - - - - - - - -
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? - - - - - - - - - -
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? - - - - - - - - - -
Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level
Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated
30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 Level Manual
5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 Wrap Calculated
6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
- - - - - - - - - - - - - - - -
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 5,475 5,475 5,475 5,475 5,475 5,475 5,475 5,475 5,475
28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43
100,000 100,000 100,000 100,000 100,000 100,000 - - - - - - - - - -
- - - - - - - - - - - - - - - -
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 5,001.4 5,001.4 5,001.4 5,001.4 5,001.4 5,001.4 5,001.4 5,001.4 5,001.4
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
- - - - - - - - - - - - - - - -
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
- - - - - - - 423.6 423.6 423.6 423.6 423.6 423.6 423.6 423.6 423.6
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 44 of 85
Appendix C: Debt
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 45 of 85
Appendix C: Debt
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 41,930,006.26 41,930.01
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 41,920,818.76 41,920.82
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 42,015,076.26 42,015.08
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 42,016,403.76 42,016.40
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 47,814,736.26 47,814.74
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 47,930,480.01 47,930.48
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 51,323,015.01 51,323.02
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 54,365,645.01 54,365.65
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 58,945,061.26 58,945.06
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 58,762,351.25 58,762.35
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 58,617,501.25 58,617.50
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 52,446,010.00 52,446.01
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 72,116,698.75 72,116.70
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 71,932,967.51 71,932.97
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 66,714,448.75 66,714.45
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 66,737,316.25 66,737.32
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 66,714,160.00 66,714.16
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 66,688,366.25 66,688.37
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 66,655,591.25 66,655.59
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 66,620,097.50 66,620.10
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 66,575,797.50 66,575.80
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 66,535,780.00 66,535.78
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 51,974,250.00 51,974.25
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 51,806,750.00 51,806.75
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
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#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME?
Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level Level
30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30
5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5
6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
- - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - -
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 46 of 85
Appendix C: Debt
2071 2072 2073
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
64 65 66
#NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 47 of 85
Appendix C: Debt
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 48 of 85
Appendix C: Debt
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls, Debt, 7/20/2008, 10:45 AM page 49 of 85
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Principal Redemption Module
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6 7 8 9 10 11 12 13
Redeem Principal Early? Yes 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Amortization
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
total principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Outstanding (Year End)
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?
#NAME? #NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
total principal outstanding #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt Service to Maturity
Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service to maturity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Redemption Calculation
Capital Expenditures 39,506 111,667 324,102 452,901 551,536 731,816 1,052,826 1,412,856 1,675,785 1,690,199 1,771,159 1,507,921
Cash Flow Available for Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending Cash Balance 438 469 488 511 536 1,191 1,265 1,312 1,362 1,413 1,466 1,673
Outstanding Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Flow Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Add'l Cash Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service after early redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Redemption Test
Capital Expenditures 39,506 111,667 324,102 452,901 551,536 731,816 1,052,826 1,412,856 1,675,785 1,690,199 1,771,159 1,507,921
Cash Flow Excluding Debt Service - - - - - - - - - - - -
Cash Flow for Early Redemption - - - - - - - - - - - -
Early Redemption
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Principal Redemption Module
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 14 15 16 17 18 19 20 21 22 23 24 25
Redeem Principal Early? Yes 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Amortization
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME?
total principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Outstanding (Year End)
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME?
total principal outstanding #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt Service to Maturity
Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service to maturity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Redemption Calculation
Capital Expenditures 1,031,046 823,208 335,223 2,853 1,420 2,937 3,041 3,148 3,260 3,376 3,496 -
Cash Flow Available for Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending Cash Balance 1,894 1,969 5,673 9,516 10,041 10,596 10,969 11,356 11,757 12,173 12,605 13,053
Outstanding Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Flow Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Add'l Cash Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service after early redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Redemption Test
Capital Expenditures 1,031,046 823,208 335,223 2,853 1,420 2,937 3,041 3,148 3,260 3,376 3,496 -
Cash Flow Excluding Debt Service - - - - - - - - - - - -
Cash Flow for Early Redemption - - - - - - - - - - - -
Early Redemption
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Principal Redemption Module
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 26 27 28 29 30 31 32 33 34 35 36 37
Redeem Principal Early? Yes 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Amortization
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Outstanding (Year End)
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total principal outstanding #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt Service to Maturity
Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service to maturity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Redemption Calculation
Capital Expenditures - - - - - - - - - - - -
Cash Flow Available for Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? - - - -
Ending Cash Balance 13,529 14,017 14,520 15,040 15,580 16,141 16,722 17,325 - - - -
Outstanding Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Flow Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Add'l Cash Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service after early redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Redemption Test
Capital Expenditures - - - - - - - - - - - -
Cash Flow Excluding Debt Service - - - - - - - - - - - -
Cash Flow for Early Redemption - - - - - - - - - - - -
Early Redemption
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Principal Redemption Module
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 38 39 40 41 42 43
Redeem Principal Early? Yes 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Amortization
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Outstanding (Year End)
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total principal outstanding #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt Service to Maturity
Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service to maturity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Redemption Calculation
Capital Expenditures - - - - - - - - - - - -
Cash Flow Available for Debt Service - - - - - - - - - - - -
Ending Cash Balance - - - - - - - - - - - -
Outstanding Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Flow Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Add'l Cash Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service after early redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Redemption Test
Capital Expenditures - - - - - - - ######### - - - -
Cash Flow Excluding Debt Service - - - - - - - - - - - -
Cash Flow for Early Redemption - - - - - - - - - - - -
Early Redemption
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Principal Redemption Module
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1
Redeem Principal Early? Yes 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Amortization
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Outstanding (Year End)
Series 2008 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total principal outstanding #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt Service to Maturity
Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service to maturity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Redemption Calculation
Capital Expenditures - - - - - - - - - - - -
Cash Flow Available for Debt Service - - - - - - - - - - - -
Ending Cash Balance - - - - - - - - - - - -
Outstanding Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Scheduled Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Flow Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Add'l Cash Available For Early Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
debt service after early redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Redemption Test
Capital Expenditures - - - - - - - - - - - -
Cash Flow Excluding Debt Service - - - - - - - - - - - -
Cash Flow for Early Redemption - - - - - - - - - - - -
Early Redemption
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Sources and Uses
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6 7 8 9 10 11
2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
AGENCY
Sources
Beginning cash balance - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 7,751,856 186,408 393,703 413,670 434,002 454,632 475,849 497,696 520,442 544,105 568,800 593,985
Sound Move Surplus 2,339,520 130,433 102,095 1,902 76,473 87,630 114,477 176,105 153,521 160,655 173,809 184,145
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 215,110 1,381 1,416 1,474 1,546 1,835 3,761 4,066 7,302 10,717 16,992 20,272
Interest earnings (DSR) #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 895,499 - 31,000 14,000 21,666 27,620 41,916 56,156 92,743 85,263 107,493 142,399
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 1,822,998 26,026 39,070 55,296 61,455 67,399 86,342 103,216 136,628 158,633 154,935 163,925
Capital Expenditures 13,511,750 39,506 111,667 324,102 452,901 551,536 731,816 1,052,826 1,412,856 1,675,785 1,690,199 1,771,159
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 53,728 6,506 3,261 4,056 1,540 1,486 4,736 4,218 8,353 5,501 (924) 2,247
Capital reserve contribution - - - - - - - - - - - -
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SNOHOMISH
Sources
Beginning cash balance 0 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 976,705 22,424 47,667 50,395 53,212 56,088 59,037 62,085 65,277 68,612 72,106 75,694
Sound Move Surplus 463,291 - - - 21,517 24,263 25,861 28,385 31,282 36,834 41,359 42,969
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 21,659 438 469 488 511 536 1,191 1,265 1,312 1,362 1,413 1,466
Interest earnings (DSR) #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 55,803 - 6,200 2,800 4,045 5,382 4,068 3,835 10,220 1,344 2,663 3,912
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 114,161 1,929 2,023 2,119 2,219 2,324 5,569 5,965 6,247 6,541 6,850 7,173
Capital Expenditures 1,632,997 1,575 6,040 8,115 8,218 7,799 3,875 25,305 60,782 88,069 145,216 197,734
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 11,288 1,728 866 1,077 409 368 1,333 1,071 1,494 800 (135) 330
Capital reserve contribution - - - - - - - - - - - -
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? 4,760 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
NORTH KING
2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Sources
Beginning cash balance 0 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 2,079,340 50,617 106,753 112,002 117,318 122,702 128,222 133,896 139,790 145,912 152,291 158,780
Sound Move Surplus 120,921 - - - - - - 53,221 20,435 - - -
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 70,802 - - - - - - - - - 4,090 6,871
Interest earnings (DSR) #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 463,657 - 6,200 2,800 (5,943) (8,971) 2,145 16,600 29,878 61,250 74,607 99,676
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 119,320 - - - - - - 1,774 3,690 3,839 3,993 4,153
Capital Expenditures 3,449,921 - 482 28,116 106,293 170,497 239,578 319,191 380,294 460,197 455,852 477,230
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 4,896 - - - - - - 318 882 470 (79) 191
Capital reserve contribution - - - - - - - - - - - -
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? 10,723 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SOUTH KING
Sources
Beginning cash balance 0 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 1,373,563 33,437 70,518 73,986 77,497 81,054 84,700 88,448 92,342 96,386 100,600 104,886
Sound Move Surplus 69,917 - - 1,902 - - - - - 260 - 3,607
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 22,267 70 69 72 75 113 265 325 378 392 2,207 2,323
Interest earnings (DSR) #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 87,724 - 6,200 2,800 5,585 8,206 8,800 8,918 14,430 4,053 6,016 7,826
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 61,162 454 476 499 522 702 1,693 2,134 2,522 2,637 2,758 2,884
Capital Expenditures 2,302,784 2,375 11,712 34,575 31,199 31,356 53,224 125,721 210,259 316,865 370,887 340,504
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 4,128 407 204 254 96 111 405 383 603 323 (54) 133
Capital reserve contribution - - - - - - - - - - - -
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? 7,084 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
EAST KING
Sources
2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Beginning cash balance 0 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 2,044,566 49,771 104,967 110,129 115,356 120,650 126,078 131,656 137,452 143,471 149,745 156,124
Sound Move Surplus 1,297,933 130,433 102,095 - 54,956 55,853 69,407 73,134 77,688 88,724 94,026 97,119
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 37,676 717 738 768 806 846 1,538 1,658 1,720 1,783 1,849 1,918
Interest earnings (DSR) #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 214,912 - 6,200 2,800 12,565 15,390 19,973 21,604 28,298 14,342 18,293 24,114
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 186,705 3,857 4,046 4,238 4,439 4,649 8,494 9,243 9,679 10,136 10,614 11,114
Capital Expenditures 4,706,248 4,097 45,805 126,299 167,339 230,884 328,717 487,551 656,813 747,835 648,689 662,435
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 19,683 3,457 1,732 2,155 818 736 2,033 1,659 2,314 1,240 (209) 511
Capital reserve contribution - - - - - - - - - - - -
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? 10,544 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
PIERCE
Sources
Beginning cash balance 0 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 1,277,681 30,159 63,798 67,157 70,620 74,139 77,812 81,611 85,580 89,724 94,058 98,501
Sound Move Surplus 387,458 - - - - 7,515 19,210 21,365 24,115 34,836 38,424 40,449
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 62,704 156 140 147 154 340 767 818 3,892 7,180 7,433 7,695
Interest earnings (DSR) #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 73,403 - 6,200 2,800 5,414 7,613 6,930 5,199 9,916 4,273 5,915 6,870
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 200,213 1,021 1,071 1,122 1,175 1,708 4,026 4,386 12,795 21,824 22,673 23,555
Capital Expenditures 1,266,978 10,705 41,925 121,107 132,768 104,719 89,310 87,261 97,795 55,682 60,973 73,178
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 13,733 915 459 570 217 271 964 787 3,060 2,669 (447) 1,083
Capital reserve contribution - - - - - - - - - - - -
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? 6,406 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SYSTEM-WIDE
Sources
Beginning cash balance 0 - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues -
2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Sound Move Surplus -
Bonds (less issuance costs) -
Fares & Operating Revenue -
Interest earnings (DSR) #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants -
Released Reserve Funds -
total sources #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 1,141,438 18,765 31,454 47,317 53,100 58,016 66,560 79,714 101,696 113,657 108,048 115,045
Capital Expenditures 152,822 20,753 5,703 5,891 7,084 6,281 17,112 7,797 6,913 7,138 8,582 20,078
Scheduled Debt Service Payments -
Early Principal Redemption -
O&M reserve contribution -
Capital reserve contribution -
Bond reserve -
Contribution from Subareas #NAME? (39,518) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
ALLOCATION DRIVERS
Financing Surplus (Deficit)
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Financing Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Financing Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cumulative Share of Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Shares of Capital
Snohomish 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12%
North King 26% 26% 26% 26% 26% 26% 26% 26% 26% 26% 26%
South King 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
East King 35% 35% 35% 35% 35% 35% 35% 35% 35% 35% 35%
Pierce 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Shares of O&M
Snohomish 27% 27% 27% 27% 25% 28% 25% 18% 15% 15% 15%
North King 0% 0% 0% 0% 0% 0% 8% 11% 9% 9% 8%
South King 6% 6% 6% 6% 7% 9% 9% 7% 6% 6% 6%
East King 53% 53% 53% 53% 50% 43% 39% 28% 23% 23% 23%
Pierce 14% 14% 14% 14% 18% 20% 19% 37% 49% 48% 48%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Shares of Tax Revenues
Snohomish 12% 12% 12% 12% 12% 12% 12% 13% 13% 13% 13%
North King 27% 27% 27% 27% 27% 27% 27% 27% 27% 27% 27%
South King 18% 18% 18% 18% 18% 18% 18% 18% 18% 18% 18%
East King 27% 27% 27% 27% 27% 26% 26% 26% 26% 26% 26%
Pierce 16% 16% 16% 16% 16% 16% 16% 16% 16% 17% 17%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Sources and Uses
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
12 13 14 15 16 17 18 19 20 21 22
2009-2023 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
AGENCY
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 7,751,856 621,737 651,177 681,770 713,880 747,807 783,560 820,839 860,598 902,769 947,428 994,675
Sound Move Surplus 2,339,520 205,473 232,601 257,117 283,085 308,877 338,701 370,273 384,792 398,746 287,097 313,858
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 215,110 22,916 31,719 40,183 49,530 60,004 63,124 66,414 69,622 78,390 68,764 72,055
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 895,499 134,932 94,275 29,915 16,121 21,687 25,397 19,512 17,559 27,829 27,736 30,061
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 1,822,998 171,181 182,666 201,313 214,914 198,354 216,182 236,243 257,892 280,970 305,563 331,776
Capital Expenditures 13,511,750 1,507,921 1,031,046 823,208 335,223 2,853 1,420 2,937 3,041 3,148 3,260 3,376
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 53,728 1,814 2,871 4,662 3,400 (4,140) 4,457 5,015 5,412 5,769 6,148 6,553
Capital reserve contribution - - - - - 135,975 135,975 135,975 135,975 135,975 135,975 135,975
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SNOHOMISH
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 976,705 79,616 83,760 88,087 92,647 97,486 102,616 107,997 113,768 119,924 126,482 133,471
Sound Move Surplus 463,291 46,244 50,845 54,981 58,753 61,771 68,645 73,977 79,755 85,942 59,095 63,491
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 21,659 1,673 1,894 1,969 5,673 9,516 10,041 10,596 10,969 11,356 11,757 12,173
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 55,803 1,884 318 5,693 3,439 3,960 4,905 3,721 3,328 5,363 4,669 5,110
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 114,161 8,370 9,651 19,632 27,548 25,879 29,070 32,486 36,178 40,129 44,355 48,874
Capital Expenditures 1,632,997 269,212 371,129 322,755 117,175 - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 11,288 230 308 775 633 (666) 728 831 907 977 1,052 1,131
Capital reserve contribution - - - - - 14,951 14,951 14,951 14,951 14,951 14,951 14,951
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
NORTH KING
2009-2023 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 2,079,340 165,975 173,630 181,567 189,887 198,672 207,915 217,530 227,765 238,606 250,072 262,190
Sound Move Surplus 120,921 - 7,953 15,086 24,226 31,263 36,999 45,920 36,370 24,177 42,991 51,802
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 70,802 9,729 13,436 16,851 19,827 23,653 24,950 26,320 27,685 33,529 25,872 27,203
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 463,657 100,164 72,606 7,947 4,698 5,963 6,797 5,642 5,273 7,347 7,451 7,934
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 119,320 13,265 25,632 29,312 33,661 38,392 43,021 47,975 53,328 59,055 65,179 71,728
Capital Expenditures 3,449,921 410,775 193,350 137,939 70,128 - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 4,896 365 818 1,158 773 (988) 1,078 1,227 1,337 1,438 1,545 1,659
Capital reserve contribution - - - - - 36,917 36,917 36,917 36,917 36,917 36,917 36,917
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SOUTH KING
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 1,373,563 109,639 114,696 119,939 125,435 131,238 137,344 143,695 150,457 157,618 165,191 173,196
Sound Move Surplus 69,917 11,246 14,368 17,510 21,024 24,864 29,770 34,259 38,597 43,720 18,257 21,769
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 22,267 2,823 3,486 4,044 5,627 7,287 7,679 8,093 8,539 9,010 4,300 4,533
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 87,724 5,319 2,216 4,554 2,800 4,026 4,734 3,564 3,179 5,241 5,279 5,752
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 61,162 3,253 3,700 12,660 24,269 27,398 30,436 33,684 37,192 40,941 44,947 49,225
Capital Expenditures 2,302,784 263,154 243,791 206,857 60,306 - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 4,128 90 118 500 557 (705) 762 861 933 997 1,066 1,139
Capital reserve contribution - - - - - 23,310 23,310 23,310 23,310 23,310 23,310 23,310
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
EAST KING
Sources
2009-2023 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 2,044,566 163,199 170,726 178,530 186,712 195,350 204,438 213,892 223,956 234,616 245,889 257,805
Sound Move Surplus 1,297,933 104,078 110,758 116,935 122,727 129,361 136,524 143,903 151,958 160,417 121,949 127,901
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 37,676 716 4,636 8,747 9,236 9,751 10,296 10,871 11,491 13,138 15,044 15,902
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 214,912 23,628 17,524 6,699 3,483 4,819 5,401 4,213 3,808 5,861 6,371 6,843
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 186,705 16,545 25,485 29,915 34,250 38,894 43,869 49,195 54,953 61,117 67,713 74,770
Capital Expenditures 4,706,248 482,759 108,128 7,937 959 - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 19,683 455 813 1,181 786 (1,001) 1,099 1,258 1,378 1,489 1,606 1,730
Capital reserve contribution - - - - - 47,884 47,884 47,884 47,884 47,884 47,884 47,884
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
PIERCE
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 1,277,681 103,309 108,366 113,648 119,200 125,062 131,246 137,724 144,652 152,005 159,793 168,013
Sound Move Surplus 387,458 43,905 48,677 52,607 56,355 61,618 66,763 72,214 78,114 84,490 44,805 48,896
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 62,704 7,975 8,267 8,572 9,168 9,797 10,158 10,534 10,937 11,356 11,791 12,244
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 73,403 3,937 1,612 5,023 1,701 2,918 3,559 2,372 1,971 4,017 3,965 4,421
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 200,213 24,498 25,485 26,516 28,359 30,305 31,533 32,814 34,186 35,617 37,110 38,669
Capital Expenditures 1,266,978 72,956 103,937 138,029 76,633 - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 13,733 674 813 1,047 651 (780) 790 839 857 868 880 895
Capital reserve contribution - - - - - 12,913 12,913 12,913 12,913 12,913 12,913 12,913
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SYSTEM-WIDE
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues -
2009-2023 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Sound Move Surplus -
Bonds (less issuance costs) -
Fares & Operating Revenue -
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants -
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 1,141,438 105,250 92,713 83,277 66,827 37,487 38,253 40,090 42,055 44,110 46,260 48,511
Capital Expenditures 152,822 9,066 10,710 9,691 10,021 2,853 1,420 2,937 3,041 3,148 3,260 3,376
Scheduled Debt Service Payments -
Early Principal Redemption -
O&M reserve contribution -
Capital reserve contribution -
Bond reserve -
Contribution from Subareas #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
ALLOCATION DRIVERS
Financing Surplus (Deficit)
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME?
Financing Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Financing Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cumulative Share of Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
2009-2023 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Shares of Capital
Snohomish 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12%
North King 26% 26% 26% 26% 26% 26% 26% 26% 26% 26% 26%
South King 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
East King 35% 35% 35% 35% 35% 35% 35% 35% 35% 35% 35%
Pierce 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Shares of O&M
Snohomish 13% 11% 17% 19% 16% 16% 17% 17% 17% 17% 17%
North King 20% 28% 25% 23% 24% 24% 24% 25% 25% 25% 25%
South King 5% 4% 11% 16% 17% 17% 17% 17% 17% 17% 17%
East King 25% 28% 25% 23% 24% 25% 25% 25% 26% 26% 26%
Pierce 37% 28% 22% 19% 19% 18% 17% 16% 15% 14% 14%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Shares of Tax Revenues
Snohomish 13% 13% 13% 13% 13% 13% 13% 13% 13% 13% 13%
North King 27% 27% 27% 27% 27% 27% 26% 26% 26% 26% 26%
South King 18% 18% 18% 18% 18% 18% 18% 17% 17% 17% 17%
East King 26% 26% 26% 26% 26% 26% 26% 26% 26% 26% 26%
Pierce 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
2009-2023 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
2009-2023 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Sources and Uses #NAME?
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls -
23 24 25 26 27 28 29 30 31 32
2009-2023 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
AGENCY
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 7,751,856 1,043,193 1,091,782 1,142,152 1,195,345 1,251,768 1,311,597 1,374,641 - - -
Sound Move Surplus 2,339,520 344,896 366,432 394,312 424,170 456,273 490,699 527,182 566,007 607,454 651,375
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 215,110 75,519 78,262 81,177 84,172 87,259 90,455 93,774 97,222 100,803 104,520
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 895,499 36,275 30,517 43,722 54,119 44,520 46,925 53,334 47,748 65,845 76,463
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 1,822,998 345,698 360,206 375,356 391,489 408,182 425,500 443,537 462,369 482,040 502,583
Capital Expenditures 13,511,750 3,496 - - - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 53,728 3,480 3,627 3,788 4,033 4,173 4,330 4,509 4,708 4,918 5,136
Capital reserve contribution - 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975 135,975
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SNOHOMISH
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 976,705 140,724 148,020 155,541 163,452 171,849 180,773 190,217 - - -
Sound Move Surplus 463,291 68,505 73,347 78,312 83,590 89,261 95,344 101,706 108,641 116,047 123,937
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 21,659 12,605 13,053 13,529 14,017 14,520 15,040 15,580 16,141 16,722 17,325
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 55,803 6,337 5,166 6,762 8,811 6,860 7,309 8,559 7,409 9,633 11,707
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 114,161 50,956 53,127 55,394 57,809 60,308 62,902 65,604 68,426 71,375 74,455
Capital Expenditures 1,632,997 - - - - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 11,288 600 625 653 695 718 745 776 809 845 882
Capital reserve contribution - 14,951 14,951 14,951 14,951 14,951 14,951 14,951 14,951 14,951 14,951
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
NORTH KING
2009-2023 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 2,079,340 274,567 286,899 299,692 313,240 327,633 342,903 358,978 - - -
Sound Move Surplus 120,921 60,662 65,430 74,597 84,423 94,944 106,185 118,094 130,654 143,887 157,853
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 70,802 28,609 29,638 30,732 31,855 33,012 34,210 35,453 36,744 38,085 39,476
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 463,657 9,195 8,060 10,848 12,941 11,036 11,531 12,826 11,723 15,486 17,618
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 119,320 74,839 78,085 81,479 85,095 88,841 92,733 96,791 101,033 105,468 110,105
Capital Expenditures 3,449,921 - - - - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 4,896 882 919 960 1,023 1,058 1,098 1,144 1,195 1,249 1,305
Capital reserve contribution - 36,917 36,917 36,917 36,917 36,917 36,917 36,917 36,917 36,917 36,917
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SOUTH KING
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 1,373,563 181,373 189,519 197,970 206,919 216,427 226,514 237,133 - - -
Sound Move Surplus 69,917 25,474 27,682 31,162 34,973 39,108 43,597 48,378 53,455 58,843 64,557
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 22,267 4,779 4,955 5,143 5,336 5,535 5,741 5,955 6,178 6,409 6,650
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 87,724 7,002 5,858 8,577 10,663 8,751 9,239 10,528 9,418 13,129 15,260
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 61,162 51,389 53,647 56,009 58,527 61,138 63,852 66,684 69,646 72,745 75,987
Capital Expenditures 2,302,784 - - - - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 4,128 605 631 660 703 728 756 788 824 861 900
Capital reserve contribution - 23,310 23,310 23,310 23,310 23,310 23,310 23,310 23,310 23,310 23,310
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
EAST KING
Sources
2009-2023 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 2,044,566 269,975 282,101 294,680 308,001 322,154 337,169 352,975 - - -
Sound Move Surplus 1,297,933 137,503 143,449 149,653 156,267 163,424 171,094 179,254 187,831 197,198 207,091
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 37,676 16,810 17,409 18,044 18,696 19,367 20,062 20,783 21,531 22,308 23,113
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 214,912 8,087 6,938 10,441 12,539 10,639 11,140 12,442 11,345 16,173 18,339
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 186,705 77,976 81,319 84,813 88,533 92,386 96,385 100,554 104,907 109,458 114,213
Capital Expenditures 4,706,248 - - - - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 19,683 919 957 999 1,064 1,101 1,142 1,189 1,241 1,296 1,353
Capital reserve contribution - 47,884 47,884 47,884 47,884 47,884 47,884 47,884 47,884 47,884 47,884
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
PIERCE
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues 1,277,681 176,554 185,243 194,269 203,734 213,705 224,238 235,339 - - -
Sound Move Surplus 387,458 52,753 56,524 60,587 64,917 69,536 74,479 79,749 85,426 91,480 97,937
Bonds (less issuance costs) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fares & Operating Revenue 62,704 12,716 13,207 13,730 14,268 14,824 15,402 16,002 16,628 17,279 17,957
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants 73,403 5,654 4,494 7,094 9,164 7,235 7,707 8,980 7,853 11,424 13,539
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 200,213 40,299 41,998 43,773 45,663 47,620 49,651 51,767 53,977 56,287 58,700
Capital Expenditures 1,266,978 - - - - - - - - - -
Scheduled Debt Service Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Early Principal Redemption #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M reserve contribution 13,733 475 494 516 549 567 588 612 638 666 695
Capital reserve contribution - 12,913 12,913 12,913 12,913 12,913 12,913 12,913 12,913 12,913 12,913
Bond reserve #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Contribution to System-wide Costs #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
SYSTEM-WIDE
Sources
Beginning cash balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Tax Revenues -
2009-2023 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
Sound Move Surplus -
Bonds (less issuance costs) -
Fares & Operating Revenue -
Interest earnings (DSR) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Federal Grants -
Released Reserve Funds -
total sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses
Subarea Operating + Non-Cap Costs 1,141,438 50,239 52,030 53,889 55,862 57,889 59,977 62,137 64,379 66,707 69,123
Capital Expenditures 152,822 3,496 - - - - - - - - -
Scheduled Debt Service Payments -
Early Principal Redemption -
O&M reserve contribution -
Capital reserve contribution -
Bond reserve -
Contribution from Subareas #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Increase (decrease) in cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Ending unrestricted cash #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
total uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Check #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-
ALLOCATION DRIVERS
Financing Surplus (Deficit)
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Financing Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Financing Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cumulative Share of Deficits
Snohomish #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
North King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
South King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
East King #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Pierce #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
2009-2023 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
Total #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Shares of Capital
Snohomish 12% 12% 12% 12% 12% 12% 12% 12% 12% 12%
North King 26% 26% 26% 26% 26% 26% 26% 26% 26% 26%
South King 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
East King 35% 35% 35% 35% 35% 35% 35% 35% 35% 35%
Pierce 9% 9% 9% 9% 9% 9% 9% 9% 9% 9%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Shares of O&M
Snohomish 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
North King 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
South King 17% 17% 17% 17% 17% 17% 17% 17% 18% 18%
East King 26% 26% 26% 26% 26% 26% 26% 26% 26% 26%
Pierce 14% 14% 14% 14% 14% 14% 14% 14% 14% 14%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Shares of Tax Revenues
Snohomish 14% 14% 14% 14% 14% 14% 14% 14% 14% 14%
North King 26% 26% 26% 26% 26% 26% 26% 26% 26% 26%
South King 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
East King 26% 26% 26% 26% 26% 26% 26% 26% 26% 26%
Pierce 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
2009-2023 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
2009-2023 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Sources and Uses
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
2009-2023
AGENCY
Sources
Beginning cash balance
Tax Revenues 7,751,856
Sound Move Surplus 2,339,520
Bonds (less issuance costs) #NAME?
Fares & Operating Revenue 215,110
Interest earnings (DSR) #NAME?
Federal Grants 895,499
Released Reserve Funds -
total sources #NAME?
Uses
Subarea Operating + Non-Cap Costs 1,822,998
Capital Expenditures 13,511,750
Scheduled Debt Service Payments #NAME?
Early Principal Redemption #NAME?
O&M reserve contribution 53,728
Capital reserve contribution -
Bond reserve #NAME?
subtotal #NAME?
Increase (decrease) in cash
Ending unrestricted cash #NAME?
total uses #NAME?
Check #NAME?
-
SNOHOMISH
Sources
Beginning cash balance
Tax Revenues 976,705
Sound Move Surplus 463,291
Bonds (less issuance costs) #NAME?
Fares & Operating Revenue 21,659
Interest earnings (DSR) #NAME?
Federal Grants 55,803
Released Reserve Funds -
total sources #NAME?
Uses
Subarea Operating + Non-Cap Costs 114,161
Capital Expenditures 1,632,997
Scheduled Debt Service Payments #NAME?
Early Principal Redemption #NAME?
O&M reserve contribution 11,288
Capital reserve contribution -
Bond reserve #NAME?
Contribution to System-wide Costs #NAME?
subtotal #NAME?
Increase (decrease) in cash
Ending unrestricted cash #NAME?
total uses #NAME?
Check #NAME?
-
NORTH KING
2009-2023
Sources
Beginning cash balance
Tax Revenues 2,079,340
Sound Move Surplus 120,921
Bonds (less issuance costs) #NAME?
Fares & Operating Revenue 70,802
Interest earnings (DSR) #NAME?
Federal Grants 463,657
Released Reserve Funds -
total sources #NAME?
Uses
Subarea Operating + Non-Cap Costs 119,320
Capital Expenditures 3,449,921
Scheduled Debt Service Payments #NAME?
Early Principal Redemption #NAME?
O&M reserve contribution 4,896
Capital reserve contribution -
Bond reserve #NAME?
Contribution to System-wide Costs #NAME?
subtotal #NAME?
Increase (decrease) in cash
Ending unrestricted cash #NAME?
total uses #NAME?
Check #NAME?
-
SOUTH KING
Sources
Beginning cash balance
Tax Revenues 1,373,563
Sound Move Surplus 69,917
Bonds (less issuance costs) #NAME?
Fares & Operating Revenue 22,267
Interest earnings (DSR) #NAME?
Federal Grants 87,724
Released Reserve Funds -
total sources #NAME?
Uses
Subarea Operating + Non-Cap Costs 61,162
Capital Expenditures 2,302,784
Scheduled Debt Service Payments #NAME?
Early Principal Redemption #NAME?
O&M reserve contribution 4,128
Capital reserve contribution -
Bond reserve #NAME?
Contribution to System-wide Costs #NAME?
subtotal #NAME?
Increase (decrease) in cash
Ending unrestricted cash #NAME?
total uses #NAME?
Check #NAME?
-
EAST KING
Sources
2009-2023
Beginning cash balance
Tax Revenues 2,044,566
Sound Move Surplus 1,297,933
Bonds (less issuance costs) #NAME?
Fares & Operating Revenue 37,676
Interest earnings (DSR) #NAME?
Federal Grants 214,912
Released Reserve Funds -
total sources #NAME?
Uses
Subarea Operating + Non-Cap Costs 186,705
Capital Expenditures 4,706,248
Scheduled Debt Service Payments #NAME?
Early Principal Redemption #NAME?
O&M reserve contribution 19,683
Capital reserve contribution -
Bond reserve #NAME?
Contribution to System-wide Costs #NAME?
subtotal #NAME?
Increase (decrease) in cash
Ending unrestricted cash #NAME?
total uses #NAME?
Check #NAME?
-
PIERCE
Sources
Beginning cash balance
Tax Revenues 1,277,681
Sound Move Surplus 387,458
Bonds (less issuance costs) #NAME?
Fares & Operating Revenue 62,704
Interest earnings (DSR) #NAME?
Federal Grants 73,403
Released Reserve Funds -
total sources #NAME?
Uses
Subarea Operating + Non-Cap Costs 200,213
Capital Expenditures 1,266,978
Scheduled Debt Service Payments #NAME?
Early Principal Redemption #NAME?
O&M reserve contribution 13,733
Capital reserve contribution -
Bond reserve #NAME?
Contribution to System-wide Costs #NAME?
subtotal #NAME?
Increase (decrease) in cash
Ending unrestricted cash #NAME?
total uses #NAME?
Check #NAME?
-
SYSTEM-WIDE
Sources
Beginning cash balance
Tax Revenues -
2009-2023
Sound Move Surplus -
Bonds (less issuance costs) -
Fares & Operating Revenue -
Interest earnings (DSR) #NAME?
Federal Grants -
Released Reserve Funds -
total sources #NAME?
Uses
Subarea Operating + Non-Cap Costs 1,141,438
Capital Expenditures 152,822
Scheduled Debt Service Payments -
Early Principal Redemption -
O&M reserve contribution -
Capital reserve contribution -
Bond reserve -
Contribution from Subareas #NAME?
subtotal #NAME?
Increase (decrease) in cash
Ending unrestricted cash #NAME?
total uses #NAME?
Check #NAME?
-
ALLOCATION DRIVERS
Financing Surplus (Deficit)
Snohomish
North King
South King
East King
Pierce
Total
Financing Deficits
Snohomish
North King
South King
East King
Pierce
Total
Financing Deficits
Snohomish
North King
South King
East King
Pierce
Total
Cumulative Share of Deficits
Snohomish
North King
South King
East King
Pierce
2009-2023
Total
Shares of Capital
Snohomish
North King
South King
East King
Pierce
Total
Shares of O&M
Snohomish
North King
South King
East King
Pierce
Total
Shares of Tax Revenues
Snohomish
North King
South King
East King
Pierce
Total
2009-2023
2009-2023
DRAFT
ST2 Financial Plan — Sources & Uses Summary 2009 through 2023 Millions of YOE Dollars
Scenar2023 Base Plan w/ 0.5% Tax — NG, OTC, 272nd 7/18/2008
North South East
Snohomish King King King Pierce System-wide Total From S&U
Sources of Funds
NOTES
1
Sound Move Taxes 463 121 70 1,298 387 2,340 - 2,340 -
2
ST2 Taxes 977 2,079 1,374 2,045 1,278 7,752 - 7,752 -
3
Federal Grants 56 464 88 215 73 895 - 895 -
4
Bonds (par less iss. costs) #NAME? #NAME? #NAME? #NAME? #NAME? - #NAME? #NAME? #NAME? #NAME?
5
Fares & Other Oper. Revenues 22 71 22 38 63 - 215 - 215 0
Interest #NAME? #NAME? #NAME? #NAME? #NAME?
6
Total Sources #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Uses of Funds
Capital Expenditures
7
Sounder Commuter Rail 90 - 129 - 934 1,153 -
8
ST Express Bus 60 - 113 126 62 361 -
9
Link Light Rail 1,483 3,450 2,061 4,580 271 11,846 -
10
System-wide Activities 153 153 -
Total Capital 1,633 3,450 2,303 4,706 1,267 153 13,512 - 13,512 -
O & M Expenditures
11
Sounder Commuter Rail 6 - 4 - 155 165 -
12
ST Express Bus 75 - 26 74 45 221 -
13
Link Light Rail 32 119 31 113 - 295 -
14
System-wide Activities - - - - - 1,141 1,141 -
Total O&M 114 119 61 187 200 1,141 1,823 - 1,823 -
15
Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? - #NAME? #NAME? #NAME? #NAME?
16
Contributions to Reserves #NAME? #NAME? #NAME? #NAME? #NAME? - #NAME? #NAME? #NAME? #NAME?
17
Contribution to System-wide #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Uses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Notes
1 Revenues from Sound Move (taxes, grants, fares and other misc. revenues) in excess of what is necessary
to support Sound Move O&M and debt service.
2 Revenues from new ST2 0.5% Sales and Use Tax increase.
3 Federal grants for ST2 capital programs (FTA formula and Full Funding Grant Agreements).
4 Estimated net issuance of bonds for ST2 capital projects.
5 Fares and other operating revenues from ST2 service.
6 Net interest on agency cash balances, attributed per financial policies first to fund System-wide costs.
7 Capital costs for expansion of the Sounder commuter rail system.
8 Capital costs for expansion of the ST Express bus system.
9 Capital costs for expansion of the Link light rail system.
10 Capital expenditures for System-wide activities (admin, R&T, Fare Integration, ST3 planning).
11 O&M costs for new service for the Sounder commuter rail system.
12 O&M costs for new service for the Regional Express bus system.
13 O&M costs for new service for the Link light rail system.
14 O&M expenditures for System-wide activities (admin, R&T, Fare Integration, ST3 planning).
15 Debt service (interest and principal) on bonds issued for ST2 capital projects.
16 Contribution to reserves (O&M, bond, capital replacement and ending cash balances).
17 Contribution by subareas to System-wide costs.
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Overall Agency Debt Service Coverage Ratios
Amounts other than Ratios in Thousands of Nominal Dollars
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Unit 2009-2023 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Cash Flow Available for Debt Service
+ Tax Revenues $000s 15,741,922 564,344 791,028 830,170 870,322 911,605 954,336 998,307 1,044,096 1,091,621 1,141,130 1,191,692 1,247,160 1,306,226 1,367,687 1,432,201 1,500,411 1,572,304 1,647,500 1,727,746 1,812,979 1,709,755 1,794,911 1,882,358 1,969,937 2,060,723
+ Fares & Operating Revenue $000s 1,027,175 25,823 34,416 37,728 39,450 41,453 45,154 47,303 57,164 73,474 82,655 88,975 94,884 107,126 119,210 132,359 146,000 152,413 159,131 166,010 178,598 172,949 180,385 188,175 195,429 203,143
+ Federal Grants $000s 479,139 25,864 24,636 22,208 26,862 28,568 28,959 29,373 29,855 31,263 34,409 38,358 38,525 39,170 40,134 40,955 41,365 44,762 45,316 45,857 46,315 46,912 47,381 47,882 48,361 48,845
+ Inter-subarea Transfers $000s - - - - - - - - - - - - - - - - - - - - - - - - - -
– Subarea Operating & Non-Cap Costs $000s 5,964,112 193,622 241,179 266,647 279,032 292,773 324,162 350,865 397,339 449,621 465,469 489,635 507,489 534,957 570,087 601,233 602,740 639,790 679,769 722,506 767,673 815,408 865,874 905,278 946,520 989,911
Cash Flow Available for Debt Service $000s 23,212,348 809,653 1,091,259 1,156,753 1,215,665 1,274,399 1,352,612 1,425,848 1,528,453 1,645,980 1,723,663 1,808,660 1,888,058 1,987,478 2,097,117 2,206,748 2,290,516 2,409,269 2,531,716 2,662,118 2,805,565 2,745,024 2,888,551 3,023,693 3,160,246 3,302,622
Debt Service Obligations
Scheduled Debt Service Payments $000s #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Debt service coverage ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Minimum Value: #NAME? #NAME?
Year of Minimum: #NAME?
Gross Debt service coverage ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Minimum Value: #NAME?
Year of Minimum: #NAME?
ST Total Agency Debt Service Coverage Ratios
10.0
9.0 Gross Debt service coverage ratio
8.0 Net Debt service coverage ratio
7.0
6.0
5.0
4.0
3.0
2.0
1.0
-
09
11
13
15
17
19
21
23
25
27
29
31
33
35
37
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Year
SOUND TRANSIT ST2 FINANCIAL MODEL-A
Overall Agency Debt Service Coverage Ratios
Amounts other than Ratios in Thousands of Nominal Dollars
2008 ST2 FM-A 0 5% 15-yr 7-18-08 TRB-P.xls
26 27 28 29
Unit 2009-2023 2034 2035 2036 2037
Cash Flow Available for Debt Service
+ Tax Revenues $000s 15,741,922 2,156,594 2,258,281 2,366,104 2,479,717
+ Fares & Operating Revenue $000s 1,027,175 211,094 219,313 227,844 236,723
+ Federal Grants $000s 479,139 49,333 49,826 50,325 50,828
+ Inter-subarea Transfers $000s - - - - -
– Subarea Operating & Non-Cap Costs $000s 5,964,112 1,035,575 1,083,180 1,132,901 1,184,930
Cash Flow Available for Debt Service $000s 23,212,348 3,452,596 3,610,600 3,777,174 3,952,198
Debt Service Obligations
Scheduled Debt Service Payments $000s #NAME? #NAME? #NAME? #NAME? #NAME?
Net Debt service coverage ratio #NAME? #NAME? #NAME? #NAME?
Minimum Value: #NAME? #NAME?
Year of Minimum: #NAME?
Gross Debt service coverage ratio #NAME? #NAME? #NAME? #NAME?
Minimum Value: #NAME?
Year of Minimum: #NAME?
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