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San Diego County Regional Airport Authority The Authority’s Financial Update

Item A. San Diego County Regional Airport Authority The Authority’s Financial Update. Presented by: Vernon D. Evans, CPA, CIA, CMA, CFE, CGFM Vice-President-Finance/Treasurer and CFO. December 3, 2009. Economic Update.

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San Diego County Regional Airport Authority The Authority’s Financial Update

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  1. Item A San Diego County Regional Airport Authority The Authority’s Financial Update Presented by: Vernon D. Evans, CPA, CIA, CMA, CFE, CGFM Vice-President-Finance/Treasurer and CFO December 3, 2009

  2. Economic Update “Significant economic challenges remain. The flow of credit remains constrained, economic activity weak and unemployment much too high. Future setbacks are possible.” (Fed Chairman Bernanke 11/16/09) 2

  3. Economic Update “Significant economic challenges remain. The flow of credit remains , economic activity weak and unemployment much too high. Future setbacks are possible.” (Fed Chairman Bernanke 11/16/09) The flow of credit remains constrained 3

  4. Consumer Credit Outstanding * BAB Spread to US Treasuries 4

  5. Economic Update “Significant economic challenges remain. The flow of credit remains constrained, economic activity weak and unemployment much too high. Future setbacks are possible.” (Fed Chairman Bernanke 11/16/09) economic activity weak 5

  6. Gross Domestic Product 6

  7. U. S. Home Sales

  8. Economic Update “Significant economic challenges remain. The flow of credit remains constrained, economic activity weak and unemployment much too high. Future setbacks are possible.” (Fed Chairman Bernanke 11/16/09) unemployment much too high 8

  9. Unemployment Rates • October Rates US 10.2%; CA 12.5%; SD 10.5%

  10. 000s FY10 YTD Act vs FY09 YTD Act - 2.7% FY10 Actuals FY10 Budget FY09 Actuals 10

  11. FY10 Budget FY 10Actuals FY09 Actuals 000,000s 11

  12. FY10 Budget FY10 Actuals FY09 Actuals FY10 YTD Act vs FY09 YTD Act -9.51% October Act vs October Bud -5.91% FY10 YTD Act vs FY10 YTD Bud 4.93% 12

  13. FY10 Budget FY10 Actuals FY09 Actuals $000s FY10 YTD Act vs FY09 YTD Act -15.59% October Act vs October Bud -10.46% FY10 YTD Act vs FY10 YTD Bud 8.64% 13

  14. Unaudited Financial Statements For the Four Months Ended October 31, 2009

  15. Balance Sheets (Unaudited)ASSETS

  16. Balance Sheets (Unaudited)ASSETS

  17. Balance Sheets (Unaudited)ASSETS

  18. Balance Sheets (Unaudited)ASSETS

  19. Balance Sheets (Unaudited) LIABILITIES AND NET ASSETS

  20. Balance Sheets (Unaudited) LIABILITIES AND NET ASSETS

  21. Balance Sheets (Unaudited) LIABILITIES AND NET ASSETS

  22. Revenues and Expenses (Unaudited)For the four months ended October 31, 2009

  23. Monthly Operating Revenue(Unaudited)

  24. Operating RevenuesFor the Four Months EndedOctober 31, 2009 (Unaudited)

  25. Monthly Operating Expenses(Unaudited)

  26. Operating ExpensesFor the Four Months EndedOctober 31, 2009 (Unaudited)

  27. Financial SummaryFor the Four Months EndedOctober 31, 2009 (Unaudited)

  28. Nonoperating RevenuesFor the Four Months EndedOctober 31, 2009 (Unaudited)

  29. Authority’s Investments

  30. Total Portfolio Summary (1)

  31. Authority’s Debt

  32. Summary of Outstanding Commercial PaperOctober 31, 2009

  33. Bond Market Recent Events * BAB Spread to US Treasuries • Rating Agency Actions for Airports since June 2009 • 16 downgrades, 5 upgrades • 36 outlook downgrades; 3 outlook upgrades • Enplanements, Financial Pressure, CPE cited most frequently as reason for downgrades NOVEMBER AIRPORT BOND DEALS 33

  34. Questions ? 34

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