C150361 Approval Letter

• Contract/PO #: CT2015-059
• Contract/PO #: C150361
• Contractor Name: Lone Cabin Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• Loan Projects - Doc Type: Approval Letter

Lone Cabin Ditch & Reservoir Company
September 13, 2013(UPDATED September 26, 2013)
Page 7 of 7
TABLE 4: FINANCIAL RATIOS
Agenda Item 29c
Collateral - Security for the loan shall be a pledge of the Company's assessment revenues backed
by a rate covenant and the Company's storage rights in the Lone Cabin Reservoir. This is in
compliance with CWCB Financial Policy 45 (Collateral).
c: Jim Briscoe, President, Lone Cabin Ditch & Reservoir Company
Susan Schneider /Jennifer Mele, Colorado Attorney General's Office
Attachment: Water Project Loan Program — Project Data Sheet
Future
Financial Ratio
2010 -2012
w/ Project
Operating Ratio (operating revenues /operating expenses)
124%
101%
(strong)
(average)
weak: <100% I - I average: 100% - 120% - strong: >120 °/
$22.7K/$18.2K
$30.7K/$30.4K
Debt Service Coverage Ratio
135%
101%
(total eligible revenues - operating expenses) /total debt service
(strong)
(average)
weak: <100% 1 - I average: 100% - 120% - I strong: >120%
($22.7K- $6.2K)i$12.2K
($30.7 - /$24.2K
13%
196%
Cash Reserves to Current Expenses
(weak)
(strong)
weak: <2/ - average: 50% - 100% - stron : >100 °/
$2.3K/$18.2K
$2.OK/$30.4K
Annual Operating Cost per Acre -Foot (based on 950 AF)
$19.20
$32.00
avera e: $10 - $20 - stron : <$10
(average)
(wear)
$18.2K/950
$30.4K/950
Collateral - Security for the loan shall be a pledge of the Company's assessment revenues backed
by a rate covenant and the Company's storage rights in the Lone Cabin Reservoir. This is in
compliance with CWCB Financial Policy 45 (Collateral).
c: Jim Briscoe, President, Lone Cabin Ditch & Reservoir Company
Susan Schneider /Jennifer Mele, Colorado Attorney General's Office
Attachment: Water Project Loan Program — Project Data Sheet