Revenue Bond Coverage Clean Water Statistical Section Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2004

FOR THE YEAR ENDED JUNE 30,	GROSS REVENUES(1)	DIRECT OPERATING EXPENSES (2)	NET REVENUE AVAILABLE FOR DEBT SERVICE	DEBT SERVICE REQUIREMENTS
Revenue Bond Coverage
Clean Water
Last Three Fiscal Years
(Expressed in Thousands)
FOR THE YEAR ENDED JUNE 30,	GROSS REVENUES(1)	DIRECT OPERATING EXPENSES (2)	NET REVENUE AVAILABLE FOR DEBT SERVICE	PRINCIPAL	INTEREST	TOTAL	COVERAGE
2002	48,471	986	47,485	31,040	29,917	60,957	0.78
2003	50,566	804	49,672	27,050	28,031	55,681	0.89
2004	37,338	604	36,734	36,723	24,155	60,878	0.60
(1) Includes Operating, Non-Operating Revenues and Federal Grants
(2) Includes Operating Expenses Less Depreciation and Interest Expenses.
SOURCE:	Clean Water Financial Statements