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S.A.C. FINANCIAL RESULTS
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<br /> Since the S.~A.C. concept of allocating reserve capacity became -
<br /> effective,' the financial results have been excellent, with the exception.
<br /> of the earlier years, especially the year-1973 which, for the most part,
<br /> was caused by the high issuance of connection and/or building permits
<br /> 'in December,. 1972 and the housing slump during 19..~'-' . The S.A.C.?~-~-
<br /> system, which-~6'~t into effect January-l'%i. 1973, -r~quired. S.A:C. payment~-~
<br /> on all permits'"i'~s~6d 6~ that 'date and"~h~.eaft~r~?~ Permits ~ssued!.~' ..~j:~
<br /> prior to this ~ate were net"required t6 pay/h~6%~, the actual '..'~.~'.'~-
<br /> hookups took place during the '1973 fiscal ye.ar.-'~, tabulation of annual
<br /> debt service costs and S.A:~C~.7'revenues'is a'~ .f011~S: ~/ - :'i' '. ' '. ; '~'
<br />
<br /> YEAR'. DEBT SERVICE '~- S.AiC. COLLECT. OVER OR UNDER (-) - TOTAL TO DATE
<br /> 1973 $5,972,396.59 $4,.0.73,790.49 ($1,898,606.10) ($1,898,606.10)
<br />
<br /> 1974 5,545~336.47 4,473~486.28 ( z. 801,859.19) .~-~.( 2,700,456.29)
<br />
<br /> '-. 1975 4,525,122.63 4,~69,975.25 (. 355,147.38) '~( 3,055,603.67)
<br /> ~76 4,635,960.25 5,546~ 873.40' ' · 910~ 913.15 ( 2,144,690.52)
<br />
<br /> 1977 4,595,030.88 8,053,106.23 - - ~ 3,458,075.35 1,313,384.83
<br /> 1978 . 4,196,410.00 8,702,290.45 4,505,880.45 5,819,265.28
<br /> 1979 3,753,684.00 8,781,646.00 5,027,962..00 10,847,227.::>8
<br />
<br /> 1980 4,071,055.00 6,380,773.53 2,309,718.53 *i3,156,945.81~'
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<br /> *Reflects refunds of $1,146,982 .to nine (9) communities in accordance
<br />-.-. with Supreme. Court S;A-~C.~ Lawsuit decision effective April 1, 1979~.~
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