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<br />Chapter IX - Financial Analysis for the CWCWD <br /> <br />Chapter IX - Financial Analysis for the CWCWD <br /> <br />The overall financial situation for the CWCWD is consistent with the descriptions provided <br />in the original 2002 study. Table VIll-l presents the annual expenditures and revenues for the <br />CWCWD. It is assumed that the CWCWD will make their first payment in 2007 based on the <br />assumption that the project is completed in 2006 and since CWCB payments must start one year after <br />the completion of the project. The annual revenues and expenses shown in Table VIII-I are based on <br />the 2004 financial statement. The debt service is based on outstanding bonds, the last of which <br />expires in 2012, and the annual debt of$291,012 for the 2002 CWCB loan. The annual revenues are <br />based on 2004 income without any increase in tap fees and are assumed to be constant, however <br />adjustments may be necessary on a year-by-year basis. The expenses are based on 2004 operating <br />expenses, less depreciation, plus 0.5 percent annual increases over the debt period. At this time, the <br />CWCWD plans to cover additional costs for the loan from cash reserves, without raising rates. If it <br />becomes necessary, the District can choose to raise rates or utilize a revenue bond. This will be re- <br />evaluated as necessary. <br /> <br />Dry Creek Reservoir Project <br /> <br />26 <br />