13-50 AGUA - Grant Request - Laserfiche WebLink

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Cash and Cash Equivalents For purposes of the statements of cash flows, the Organization considers all highly liquid investments available for current use with an initial maturity of three months or less to be cash equivalents. Note B — Accounts Receivable Accounts receivable to the Organization are aged in the following manor: 30 days and under $ 2,236 31 to 60 days 4,521 61 to 90 days (484) Over 90 days 71,290 Total $ 77,563 The organization does not have a bad debt / write off policy as shareholder policy states that if fees are not paid within a timely manner, that well / wells will be subject to curtailment by the Division Office until paid. Until such dues, assessments or fees are paid in full, the shareholder shall not be entitled to vote at any meeting, hold any office in AUGA, nor transfer their stock certificate. A lien in favor of AGUA shall apply against any certificate for which dues, assessments or fees remain unpaid. AUGA may sell such stock certificate to collect the then outstanding lien amount and all associated cost if such lien continues for two consecutive years, and AUGA shall pay to the former shareholder any amount it collects above the lien amount when such stock certificate is sold. The Division Office will not allow any well to pump if there is an outstanding bill due to another association for augmentation water. Note C — Investments The organization investments consist of certificates of deposits as follows: Total Certificates of Deposit $ 62,629 A portion of the Short-Term Investments have been identified as Temporarily Restricted funds to accommodate a debt service reserve as stipulated in the loan agreements with the Colorado Water Conservation Board. The agreements stipulate that a debt service reserve will be maintained in which an amount equal to one -tenth of an annual payment will be deposited into said reserve on the due date of the first annual loan payment and annually thereafter for the first ten years of repayment of these loans. In the event funds from this reserve are applied to the repayment of the loan, these funds shall be replenished within 90 days of the withdrawal of the funds. Loan Number Payment of 10 Reserve Amount Interest Maturity C153808 9 of 10 Bank Amount Rate Date Interest Fowler State Bank $ 21,430 .760% 08 -04 -12 Added to Principal Monthly Fowler State Bank 20,377 .260% 02 -13 -12 Added to Principal Monthly Fowler State Bank 20,822 .510% 05 -13 -12 Added to Principal Monthly Total Certificates of Deposit $ 62,629 A portion of the Short-Term Investments have been identified as Temporarily Restricted funds to accommodate a debt service reserve as stipulated in the loan agreements with the Colorado Water Conservation Board. The agreements stipulate that a debt service reserve will be maintained in which an amount equal to one -tenth of an annual payment will be deposited into said reserve on the due date of the first annual loan payment and annually thereafter for the first ten years of repayment of these loans. In the event funds from this reserve are applied to the repayment of the loan, these funds shall be replenished within 90 days of the withdrawal of the funds. Loan Number Payment of 10 Reserve Amount C 150156 2 of 10 $ 9,084 C153808 9 of 10 27,628 - Total $36,712 7