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COUNTY OF HAWAII
<br />Proprietary Funds
<br />Statement of Revenues, Expenses, and Changes in Fund Net Position
<br />For the Fiscal Year Ended June 30, 2015
<br />Business -type Activities -
<br />Enterprise Funds
<br />Kulaimano Ouli Ekahi
<br />Elderly Affordable
<br />Housing Housing
<br />Project Project
<br />Total
<br />Operating revenues:
<br />Rental receipts from tenants 110,861 $ 333,851 $ 444,712
<br />Rental subsidy from federal government - HUD 113,642 113,642
<br />Laundry receipts 3,182 - 3,182
<br />Other 5,410 5,410
<br />Total operating revenues 227,685 339,261 566,946
<br />Operating expenses:
<br />Utilities 38,412 58,765 97,177
<br />General and administration 108,614 99,903 208,517
<br />Maintenance and repairs 62,790 99,486 162,276
<br />Depreciation (note 6) 35,468 16,820 52,288
<br />Total operating expenses 245,284 274,974 520,258
<br />Operating income (loss) (17,599) 64,287 46,688
<br />Nonoperating revenues (expenses):
<br />Investment income 1,284 15 1,299
<br />Interest expense (41,365) - (41,365)
<br />Loss on disposal of fixed assets (48) (142) (190)
<br />Total nonoperating revenues (expenses) (40,129) (127) (40,256)
<br />Change in net position (57,728) 64,160 6,432
<br />Net position, beginning of year 556,535 906,064 1,462,599
<br />Net position, end of year
<br />See accompanying notes to the basic financial statements.
<br />$ 498,807 $ 970.224 $ 1,469,031
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