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Farmers Pawnee Canal Company <br />March 4, 2011(UPDATED MarcN 16, 2011) <br />Page 3 of 3 <br />Financial Analysis <br />Consent Agenda Item 2a <br />Based on the share ownership the interest rate for the Company is the 2.5% for a 30-year term. <br />Creditworthiness: The Company's share assessment history is: $205 in 2009, $215 in 2010 and are <br />currently set at $225 for 2011. The current assessment rate will likely cover this loan increase. The <br />Company had a CWCB loan with an annual payment of $2,600 for the rehabilitation of its diversion <br />dam and headgate structure after flood damage in 1997. The loan was paid in full in October 2008 <br />with a history `on time' payments. <br />TABLE 2 <br />FINANCiAi. SiJMMARY <br />�� - '��° t 2 � �'� � � � w a �rw • �„€ .. .:�„ <br />.�� .. _ 3 a � a 'I s" � � !. i�� � � k'�' u? ����p` `� T' -� `� � � .� *.� �. <br />� � � � � � ��� � � � �a a�.�t�'c r � � �, r �, �, ��, s as.s€ '�� , � mrc �u� ::�� ri`" ��.# . � �. " ,�.' �. �. r'# � . <br />r h� f : t f'# ` '� „�� ��� +��� 5 � � t : �' K . � sp r ". � S u � .� <br />, t .�. , ;.; . � :.., at �,,,�w� , � ... �`t '�� ,� , . f. ., ,_�� ., .� � € *, . '� 5,_. � � �v. � t;c� �"� , t .� r� <br />,r< <br />Operating Ratio (revenues/expenses) � 99% 100% <br />eak: <100°/ - vera e: 100% - 120°/ - stron : >120°/ (weak) (Average) <br />$96/97K $109/109K <br />Debt Service Coverage Ratio (revenues-expenses)/debt service 47% 100% <br />eak: <100°/ - vera e: 100% - 120°/ - tron : >120°/ �eak) (Average) <br />96-97/2.6K $109-97/12K <br />Cash Reserves to Current Expenses 18% 15% <br />eak: <50°/ - verage: 50% - 100°/ - tron : >100°/ (Weak) (Weak) <br />$19/104K $16/109K <br />Annual Operating Cost per Acre-Foot (27,260 AF) $3.59 $4.02 <br />eak: >$2 - vera e: $10 - $2 - tron : <$1 (Strong) (Strong) <br />$97K/27K AF $109K/27K AF <br />Collateral — As security for the loan, the Company will remain a pledge assessment revenues. This <br />is in compliance with CWCB Financial Policy #5 (Collateral). <br />cc: John Guenzi, Member, Farmers Pawnee Canal Company <br />Susan Schneider, AGO <br />Attachment: Water Project Loan Program - Project Data Sheet <br />TABLE 1 <br />FINANCIAL SUMMARY <br />