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Table 15
<br />Penrose Water District
<br />ected Revenues and Expenditures for Life of CWCB
<br />Loan Feasibility Study for
<br />Raw Water Acquisition and Utilization
<br />Page 45
<br />Continued
<br />Miscellaneous fees and other 7) _ 14,758 15,201 15,657 16,127 16,611 17,109 17,622 18,151 18,696 19,256 19,834 20,429 21,042 21,673 22,324 22,993 23,683
<br />Total Revenues 1,557,483 1 592 402 1,496,685 1 514 733 1,540,426 1 566 623 1,593,329 1 620 544 1,640,772 1 668 639 1,697,003 1 725 862 1,755,214 1 777 559 1,807,517 1 837 942 1,868,827
<br />Expenditures:
<br />Operations and Maintenance 8) 895,440 922,303
<br />949,972 978,471 1,007,826 1,038,060
<br />1,069,202 1,101,278
<br />1,134,317 1,168,346 1,203,396 1,239,498 1,276,683 1,314,984 1,354,433 1,395,066 1,436,918
<br />Estimated With Loan
<br />150,000 - - -
<br />- 150,000
<br />- - - - 150,000 - - - -
<br />Debt service 10) 461,334 461,334
<br />461,334 461,334 461,334 461,334
<br />461,334 461,334
<br />461,334 461,334 461,334 461,334 461,334 461,334 461,334 461,334 461,334
<br />Total Expenditures 1,356,774 1,383,637
<br />1,561,306 1,439,805 1,469,160 1,499,394
<br />_a
<br />1,595,651 1,629,680 1,664,730 1,700,832 1,888,017 1,776,318 1,815,767 1,856,400 1,898,252
<br />J4
<br />Available Resources: January 1
<br />3,790,829
<br />3 991 538
<br />4,200,303
<br />4 135 682
<br />4,210,610
<br />4 281 876
<br />4,349,105
<br />4 411 898 4,319,830 4 364 951
<br />4 403 911
<br />4,436,183
<br />461 212
<br />4,328,410
<br />4 329 651
<br />4,321,401
<br />4 302 943
<br />Revenues:
<br />User charge revenue 1) 2) 3)
<br />1,165,627
<br />1,182,565
<br />1,200,012
<br />1,217,981
<br />1,236,490
<br />1,255,554
<br />1,275,189
<br />1,295,414 1,316,246 1,337,703
<br />1,359,803
<br />1,382,566
<br />1,406,012
<br />1,430,162
<br />1,455,036
<br />1,480,656
<br />1,507,045
<br />Taxes 4)
<br />187,556
<br />195,058
<br />71,001
<br />73,841
<br />76,795
<br />79,867
<br />83,061
<br />86,384 89,839 93,433
<br />97,170
<br />101,057
<br />105,099
<br />109,303
<br />113,675
<br />118,222
<br />122,951
<br />Tap Fees 5)
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />- - -
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />Interest 6)
<br />189,541
<br />199,577
<br />210,015
<br />206,784
<br />210,530
<br />214,094
<br />217,455
<br />220,595 215,991 218,248
<br />220,196
<br />221,809
<br />223,061
<br />216,420
<br />216,483
<br />216,070
<br />215,147
<br />Miscellaneous fees and other 7) _ 14,758 15,201 15,657 16,127 16,611 17,109 17,622 18,151 18,696 19,256 19,834 20,429 21,042 21,673 22,324 22,993 23,683
<br />Total Revenues 1,557,483 1 592 402 1,496,685 1 514 733 1,540,426 1 566 623 1,593,329 1 620 544 1,640,772 1 668 639 1,697,003 1 725 862 1,755,214 1 777 559 1,807,517 1 837 942 1,868,827
<br />Expenditures:
<br />Operations and Maintenance 8) 895,440 922,303
<br />949,972 978,471 1,007,826 1,038,060
<br />1,069,202 1,101,278
<br />1,134,317 1,168,346 1,203,396 1,239,498 1,276,683 1,314,984 1,354,433 1,395,066 1,436,918
<br />Capital outlay 9) - -
<br />150,000 - - -
<br />- 150,000
<br />- - - - 150,000 - - - -
<br />Debt service 10) 461,334 461,334
<br />461,334 461,334 461,334 461,334
<br />461,334 461,334
<br />461,334 461,334 461,334 461,334 461,334 461,334 461,334 461,334 461,334
<br />Total Expenditures 1,356,774 1,383,637
<br />1,561,306 1,439,805 1,469,160 1,499,394
<br />1,530,536 1,712,612
<br />1,595,651 1,629,680 1,664,730 1,700,832 1,888,017 1,776,318 1,815,767 1,856,400 1,898,252
<br />Excess (Deficiency) of
<br />Revenues Over Expenditures 200,709 208,765 (64,621) 74,928 71,266 67,229 62,792 (92,068) 45,122 38,959 32,272 25,029 (132,803) 1,241 (8,250) (18,458) (29,426)
<br />Available Resources:
<br />As of December 31 3,991,538 4,200,303 4,135,682 4,210,610 4 281 876 4,349,105 4,411,898 41319,830 41364,951 4,403,911 4,436,183 4,461,212 4,328,410 4,329,651 4,321,401 4,302,943 4,273,517
<br />1) User charge revenues are the combined contributions from the base water sales and the water consumption sales.
<br />2) User charges increase in year 2036 by 5 %.
<br />3) The assumption is made that the District's 1,838 EQR's will stay constant for the duration of the loan.
<br />4) Taxes are assumed to increase at 4% annually.
<br />5) No tap fees are assumed to be collected for the duration of the loan
<br />6) Interest is assumed to be 5% on retained earnings for the duration of the loan.
<br />7) Miscellaneous fees are assumed to increase 3% annually.
<br />8) Operations and maintenance includes payroll, office related expenses, plant and distribution repairs, and general government. All expenses are assumed to increase 3% annually.
<br />9) In year 2015 the assumption is made that the District will have to replace a portion of its distribution system resulting in a $1,000,000 capital outlay. Thereafter, the assumption is made that the District
<br />will have ongoing replacement of water treatment
<br />10) Retirement of the USDA and DOLA loans will be undertaken in year 2010 with District retained earnings. In 2012, the privately held bonds will be fully paid resulting in only the CWCB loan thereafter.
<br />Leonard Rice Engineers, Inc. August 2006 - 1018PEN05
<br />GMS, Inc.
<br />
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