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, a <br />Snowmass Water & Sanitation District <br />May 12, 2009 (UPDATED May 22, 2009) <br />Page 5 of 5 <br />Table 2 shows the Financial Ratios for the District. <br />Agenda Item 17f <br />Table 2. Financial Ratios <br /> Future <br />Financial Ratio Past Years (2012) <br />Operating Ratio (revenues/expenses) 104% <br />(Average) 102% <br />(Average) <br />weak: <100% - avera e: 100% - 120% - stron : >120°/ $2.98M/2.87M $3.32M/3.24M <br />Debt Service Coverage Ratio 159% <br />(revenues-expenses)/debt service No Debt (Strong) <br />weak: <100% - avera e: 100°/b - 120% - stron :>120°/ $3.3-3.1M/0.14M <br />Cash Reserves to Current Expenses 219% <br />(Strong) 62%* <br />(Average) <br />weak: <50% - avera e: 50% - 100% - strong: >100°/ $6.3M/2.87M $2.OM/3.24M <br />Average Monthly Residential Water Bill (1 EQR= 3BR) $25/Month $25/Month <br />eak: >$60 - avera e: $60 - $30 - stron : <$3 (Strong) (Strong) <br />*$5 million needed to enlarge Ziegler Reservoir and future caprta~ improvement pro~ects <br />Collateral - Security for the CWCB loan will be a pledge of its water activity enterprise revenues <br />backed by a rate covenant and annual financial reporting. This is in compliance with CWCB <br />Financial Policy #5 (Collateral). <br />Staff Recommendation (Board approved Staff Recommendation on May 19, 2009) <br />Staff recommends the Board approve a loan not to exceed $1,952,805 ($1,933,470 for project costs <br />and $19,335 for the 1% Loan Service Fee) to the Snowmass Water & Sanitation District, acting by <br />and through its water activity enterprise, for the Ziegler Reservoir Water Management System from <br />the Construction Fund Account. The loan terms shall be an interest rate of 4.25% per annum for 20 <br />years. Security for the loan shall be in compliance with CWCB Financial Policy #5. <br />cc: Kit Hamby, District Manager <br />Susan Schneider, AGO <br />Attachment: Water Project Loan Program - Project Data Sheet <br />