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Cash and Cash Equivalents <br /> For purposes of the statements of cash flows,the Organization considers all highly liquid investments <br /> available for current use with an initial maturity of three months or less to be cash equivalents. <br /> Note B—Accounts Receivable <br /> Accounts receivable to the Organization are aged in the following manor: <br /> 30 days and under $999 <br /> 31 to 60 days (95) <br /> 61 to 90 days 580 <br /> Over 90 days 42.454 <br /> Total $43,938 <br /> Receivables from Members are reported at the amount management expects to collect on balances <br /> outstanding at year-end. The organization's Credit Loss Policy allows receivables that are deemed <br /> "uncollectible"or"likely uncollectible"by the AGUA office to be classified as bad debt and removed from <br /> Accounts Receivable,as of year-end, if the following criteria have been met: <br /> o There have been no payments received in a minimum of three(3)years. <br /> o The well is inoperable thus making it unlikely that it will ever be used again. <br /> o The AGUA Membership Certificate has been cancelled by appropriate AGUA Board action. <br /> In addition to the organization's Credit Loss Policy,the Division Office will not allow any well to pump <br /> water if there is an outstanding bill due to another association for augmentation water. <br /> Note C—Investments <br /> The organization investments consist of certificates of deposits as follows: <br /> Interest Maturity <br /> Bank Amount Rate Date Interest <br /> Fowler State Bank $21,575 .500% 08-04-13 Added to Principal Monthly <br /> Fowler State Bank 20,428 .150% 02-13-13 Added to Principal Monthly <br /> Fowler State Bank 20,908 .250% 05-13-13 Added to Principal Monthly <br /> Total Certificates of Deposit $ 62,911 <br /> A portion of the Short-Term Investments have been identified as Temporarily Restricted funds to <br /> accommodate a debt service reserve as stipulated in the loan agreements with the Colorado Water <br /> Conservation Board. The agreements stipulate that a debt service reserve will be maintained in which an <br /> amount equal to one-tenth of an annual payment will be deposited into said reserve on the due date of the <br /> first annual Ioan payment and annually thereafter for the first ten years of repayment of these loans. In the <br /> event funds from this reserve are applied to the repayment of the loan,these funds shall be replenished <br /> within 90 days of the withdrawal of the funds. <br /> Loan Number Payment of 10 Reserve Amount <br /> C150156 3 of 10 $13,626 <br /> C153808 10 of 10 30,698 <br /> Total $44,324 <br /> 7 <br />