C150345 Feasibility Study

• Contract/PO #: CT2015-082
• Contract/PO #: C150345
• Contractor Name: Twenty Two Road Lateral, Inc.
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Loan Projects - Doc Type: Feasibility Study

amounts due. Table 5 shows the Financial Ratios for the Twenty Two Road Lateral Company
and indicates a strong ability to repay. A and B represent situations previously described.
Table 4 Twenty Two Road Lateral Statement Summaries
Table 5. Financial Ratios
Financial Ratio
Item
Amount
With Project - B
Operating Ratio (Revenue /expense)
120% (Strong)
Jan. 1, 2008
Balance
$2,574.99
(Strong)
Debit Service Coverage Ratio
No Debt (Strong)
122%
Assessment
$1,540.00
(Average)
2008 Assessments Due in 2008
$2,835.00
Interest
$5.43
Total Collected to Date
$2,605.00
161%
Subtotal
$4,120.42
(Strong)
Currently Past Due
$230.00
$6.90
Expenses
$0.00
22RL Asm
(1,265 acre -feet available.)
$8.15 GVIC Asm
$8.15
GVIC Asm
$2.76
GVIC Asm
Total Cost per Acre -foot
$10.50
Jan. 1, 2009
Balance
$4,120.42
2009 Assessments Billed in 2010
Assessment 2008
$490.00
2009 Assessments Due in 2010
$2,930.00
Interest
$1.01
Total Collected to Date
$2,575.00
Subtotal
$4,611.43
Currently Past Due
$355.00
Expenses
$3,110.26
Jan. 1, 2010
Balance
$1,501.17
2010 Assessments Blled in 2011
Assessment Paid
$2,620.00
2010 Assessments Due in 2011
$2,975.00
Interest
$1.00
Total Collected to Date
$1,635.00
Subtotal
$4,122.17
Total Due
$1,345.00
Expenses
$1,729.94
Jan. 1, 2011 *
Balance
$2,392.23
2011 Assessments
$2,975.00
Assessment Paid
$3,100.00
Total Collected to Date
$850.00
Interest
$0.35
Total Due
$2,125.00
Subtotal
$5,492.58
Expenses
$1,622.53
Balance
$3,870.05
* part year to Mayl, 2011
Table 5. Financial Ratios
Financial Ratio
Without Project
With Project - A
With Project - B
Operating Ratio (Revenue /expense)
120% (Strong)
118%
(Strong)
113%
(Strong)
Debit Service Coverage Ratio
No Debt (Strong)
122%
(Average)
122%
(Average)
(revenues-ex pens es)/debt service
Cash Reserves to Current Expense
238% (Strong)
161%
(Strong)
144%
(Strong)
Annual Cost per Acre -foot
$2.35 22RL Asm
$6.90
22RL Asm
$9.65
22RL Asm
(1,265 acre -feet available.)
$8.15 GVIC Asm
$8.15
GVIC Asm
$2.76
GVIC Asm
Total Cost per Acre -foot
$10.50
1$16.22
J$12.41
Alternative financial considerations: The Twenty Two Road Lateral Company would not be
able to fund this project without NRCS grant.
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