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lake Cana} Reservoir Company <br />Septerr�ber 2, 20[ I(L!pdated September 20, 2011) <br />Page 4 of 5 <br />TABLE 3: FINANCIAL SUMMARY <br />Agenda Ctem 20a <br />Creditworthi�tess: The Company has two existing loans with Cl�e CWCB. Tl�e first was a <br />$160,000 loan for the Gray La.ke Resenoir ditch rehabilitation. This loan has a balance of $43,I16 <br />($6,920 ann�al payment) with a maturity date of July 2018. The second laan was for South Gray <br />Reservair rehabilitation and the breach of Gray Na. 3. This project has not been closed out and is <br />therefore not yet in repayment. T�e loan was appraved for $393,900 with annual payrnents <br />expected to be $2Q,5�0. Ta date, $251,718 has been disbursed for this project. <br />TABLE �: FINAI�CIAL RATIOS <br />F"u�t�re <br />F'in�acis� .R�r#iv Pa�t 2. Xea�'s wf Projed <br />Operating Ratio (revenues/expenses) 132% 1.44°10 <br />��� � � � (Strong) (Average) <br />weak: <}.00% - avera =e: l00% - 120% - stron : >120°/ $70K/$531C $82K/$?4IC <br />Debt Service Coverage Ratio 343% lfl9°10 <br />(revenues�-expenses)/debt service* (Strong) {Average) <br />weak: <2 QQ% - a�vera�e: I00% - 120%� - stron :> 120°/ ($70K-$46K); ($82K-$461C)/ <br />$7K $33K <br />Cash Reserves to Current Expenses l`�Q% ��% <br />weak: <SO% - aV�Iage: SO% - I OO°/� - Stro� :>� oa�i (Strong) (Average} <br />$74K1`$53 K $6 i K!$79K <br />Annual Operatin� Cost per Acre-Faot (1 120 �4F} � $47 $7I <br />eaEc: >$20 - average: � l 0 - �20 - stron ; <$1 ('�'eak) (UVeak} <br />$53K/1,1.20 $79KJ1,1�0 <br />Cpllatera�l: �s security f�r the loan, the �;ompar�y vv�1l piedge assessmen.t revenr�es backeci by a <br />ra�e covenant and the land under North Crray Ites�re%air. This is in compliance with the CW�`B <br />�'inancia� Pc�iicy #5 (Callateral). <br />