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Pinery Water and Wastewater District Agenda Item 30d <br /> May 9,2014(Updated May 23,2014) <br /> Page 7 of 7 <br /> Creditworthiness: The District has $15,997 in outstanding debt tied its water activity enterprise <br /> revenues. <br /> TABLE 5: EXISTING DEBT <br /> Lender Original Current Annual Maturity Collateral <br /> Balance Balance Payment Date <br /> CWRPDA 2002 $ 7,045,000 $ 3,515,000 $ 467,949 8/1/2023 Water Revenues <br /> CWRPDA 2005 $ 4,800,000 $ 3,215,000 $ 342,322 8/2/2026 Water Revenues <br /> Wells Fargo 2010 <br /> Refunding Note $ 10,335,213 $ 9,267,440 $ 753,649 12/1/1930 Water Revenues <br /> Totals I $ 22,180,213 I $ 15,997,440 I $ 1,563,920 <br /> TABLE 6: ENTERPRISE FINANCIAL RATIOS <br /> Past 3 Years Future <br /> Financial Ratio wl Project <br /> Operating Ratio(revenues/expenses) 126% 116% <br /> weak: <100%I- average: 100% - 120%I- stron.: >120% (strong) (average) <br /> $6.8M/$5.4M $6.9M/$5.9M <br /> Debt Service Coverage Ratio * 189% 144% <br /> (revenues-expenses)/debt service (strong) (strong) <br /> weak: <100% - average: 100%- 120%I- strong: >120%� <br /> $3.8M)/$1.6M $3.8M)/$2.1M <br /> $3.8M)/$2.1M <br /> Cash Reserves to Current Expenses 114% 103% <br /> weak: <50% - average: 50% - 100% - strong: >100%I (strong) (strong) <br /> $6.1M/$5.4M $6.1M/$5.9M <br /> $3,732 $6,019 <br /> Debt per Tap(4,287 SFEs) (average) (weak) <br /> weak: >$5,000 - average: $2,500- $5,000 - stront: <$2,501 $16.0M/4,287 $25.8M/4,287 <br /> SFEs SFEs <br /> Monthly Residential Water Bill $67 $69 <br /> weak: >$60 I- average: $30-$60 I- strong: <$301 (weak) (Weak) <br /> Notes: * Debt service utilizing enterprise revenues only <br /> Collateral- Security for this loan will be a pledge of the District's water activity enterprise revenues <br /> backed by a rate covenant as evidenced by annual financial reporting. Parity status will be required <br /> with all existing revenue-secured loans. This security is in compliance with CWCB Loan Policy#5 <br /> (Collateral). <br /> cc: Heather Beasley, District Manager, Pinery Water and Wastewater District <br /> Eric Hecox, Executive Director, South Metro Water Supply Authority <br /> Susan Schneider/Jennifer Mele, Colorado Attorney General's Office <br /> Attachment: Water Project Loan Program—Project Data Sheet <br />