C150318 Feasibility Study - Laserfiche WebLink

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Last Chance Ditch Com The year 2011 income reflects annual assessment of $612 per share and the expenses reflect the iirst CWCB loan payment of $15,438.29. The Last Chance shareholders voted to allo�� an additional $612 a share if necessary for this year to cover expenses prior to the CWCB loan. A breakdown of projected income and expenses are included in the append�. 2010 2011 2012 2013 2014 2015 Income 14,352.00 12,240.00 27,678.40 27,678.40 27,678.40 27,678.40 Ex enses -17,907.42 -21,181.55 -21,181.55 -24,475.80 -21,181.55 -21,181.55 Profit* -3,555.42 1,472.49 11,521.14 8,226.89 11,521.14 11,521.14 *Proiit in this table does not reflect reserved funds in the certificate of deposit. Financial Ratios Financial Ratio Without Project With Project Operating Ratio 80% 130% revenue/ex enses Debt Service Coverage Ratio No debt 2.37 (revenues-ex enses)/debt service Cash Reserves to Current 2.68 2.33 Ex ense Loan Repayment Last Chance Ditch �vill repay the $250,000 loan with water assessments. Currently shares are assessed at $612 a share. The annual loan payment of $15,438.29 amounts to an additional assessment of $771.92 per share, this increase �vill have to be approved by the shareholders, bringing the new yearly assessment to $1,383.92. The increased assessment will generate the revenue needed to cover the CWCB payment. Project Cost (according to LCD bids from 2009/2010) $190,000.00 Total Loan Amount (100% of Project Cost) $250,000.00 CWCB Annual Loan Payment Amount $15,438.29 Number of Shareholders 14 Number of Shares of Stock 20 Current Annual Assessment per Share $612.00 Future Annual Assessment per Share $1,383.92 Base assessment values ��ill continue to be evaluated annually to reflect additional operatin� costs or to reflect savings due to decreased maintenance I ast ance itc ompany oan easi i ity tu y age o