C150367 Approval Letter - Laserfiche WebLink

Home Browse Search

City of Lamar September 13, 2013 (Updated September 26, 2013) Page 8 of 8 TABLE 5: FINANCIAL RATIOS Agenda Item29a Collateral: As security for the loan, the City's Enterprise will pledge water rate revenues backed by a rate covenant and will provide annual financial reporting. This is in compliance with the CWCB Financial Policy #5 (Collateral). cc: John Sutherland, City Administrator, City of Lamar Josh Cichocki, Water /Wastewater Director, City of Lamar Susan Schneider /Jennifer Mele, Colorado Attorney General's Office Attachment: Water Project Loan Program — Project Data Sheet Future Financial Ratio 2009 -2011 w/ Project Operating Ratio (operating revenues /operating expenses) 105% 105% weak: <100% - average: 100% - 120% - strong: >120% (average) $6M/$5.7M (average) $6M/$5.5M Debt Service Coverage Ratio 138% 132% (total eligible revenues - operating expenses) /total debt service (strong) (strong) weak: <100% 1 - I average: 100% - 120% - stron : >120 °/ $(6M- 4.8M)/$871K ($6M- 4.8M)/$912K Cash Reserves to Current Expenses 8% 8% weak: <a /, - average: 50% - 100% - strong: : > 100% (weak) $482K/$5.7M (weak) $482K/$5.7M Debt per Tap (Based on 3,500Taps) $3,429 $3,714 weak: >$5,000 - average: $2,500 - $5,000 - 1 strong: <$2,50 (average) $12M/3,500 (average) $13M/3,500 Average Monthly Water Bill $60 $61 avera e: $30 - $60 - strong: >$3 (average /weak) (weak) Collateral: As security for the loan, the City's Enterprise will pledge water rate revenues backed by a rate covenant and will provide annual financial reporting. This is in compliance with the CWCB Financial Policy #5 (Collateral). cc: John Sutherland, City Administrator, City of Lamar Josh Cichocki, Water /Wastewater Director, City of Lamar Susan Schneider /Jennifer Mele, Colorado Attorney General's Office Attachment: Water Project Loan Program — Project Data Sheet