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The financial ratios for the District are shown in Table 3 below. <br />Table 3. Financial Ratios <br />Financial Ratio Without With project <br />the project Future Year <br />2003 2009+ <br />Operating Ratio (revenues/expenses) 128% 145% <br />weak: <100% - avera e: 100% - 120% - stron : >120°/ (strong) (strong) <br />(368K/254K <br />Debt Service Coverage Ratio 180% 109% <br />(revenues-expenses)/debt service (strong) (strong) <br />weak: <100% - avera e: 100% - 120% - stron :�>1200� 368K-254K/IOSK <br />Cash Reserves to Current Expenses 110% 146% <br />weak: <50% - avera e: 50% - 100% - stron :>100°/ stron stron <br />j524K/3S9K� <br />Annual Operating Cost per Acre-Ft. (18,000 AF) * $12.68 $19.92 <br />eak: >$ 2 avera e: $10 - $20 - stron : <$1 (average) (average) <br />*total water delivered by the system. <br />(359K/18K) <br />Collateral: As security for the loan, the District will continue to pledge its assessment revenues. <br />This is in compliance with CWCB Financial Policy #5 (Collateral). <br />Recommendation <br />Staffrecommends that the Board approve an increase of $485,103 ($480,300 for project costs <br />and $4,803 for a 1% Loan Service Fee) to the District from the Construction Fund Account at its <br />current interest rate of 2.5% for 30 years. The District's total amended loan amount will be <br />$1,515,000 ($1,500,000 for project costs and $15,000 for a 1% Loan Service Fee) for the <br />rehabilitation of the District's system infrastructure. Security for the loan shall be collateral in <br />compliance with CWCB Loan Policy No. 5. <br />ACTION TAKEN BY THE CWCB BOARD ON NOVEMBER 19, 2008 <br />Board approved staff recommendations. <br />c: Pearl Knight, Secretary— Silt Water Conservancy District <br />Amy Stengel, AGO <br />