Laserfiche WebLink
Sylvan Dale Ranch,LLLP Agenda Item 35a <br /> May 9,2014(Updated May 23,2014) <br /> Page 4 of 4 <br /> TABLE 3: FINANCIAL RATIOS <br /> Financial Ratio Past 3 Years Future <br /> w/Project <br /> Operating Ratio(revenues/expenses) 105% 105% <br /> Iweak: <100%1 average: 100%- 120%I- stron:: >120% (Average) (Average) <br /> $2.3M/$2.2M $2.3M/$2.2M <br /> Debt Service Coverage Ratio 313% 310% <br /> (revenues-expenses)/debt service (Strong) (Strong) <br /> I weak: <100% 'average: 100%- 120% - strop:: >120% $2.3M-$2.1M $2.3M-$2.1M <br /> I- <br /> $64K $64.5K(l) <br /> Cash Reserves to Current Expenses 23% 11% <br /> I weak: <50%I- 'average: 50%- 100%I- stron.: >100% (Weak) (Weak) <br /> $500K(z)/$2.2M $250K(2)/$2.2M <br /> Annual Operating Cost per Acre-Foot(166 AF) N/A(3) N/A(3) <br /> 'weak: >$20 I- .vera:e: $10-$20 - stron:: <$11 <br /> Notes: (1) Existing debt service was refinanced through American Ag Credit after the flood. Future payments were <br /> reduced to $59,000 annually. (2) While the Ranch has cash reserves, these will be drawn down with other flood <br /> recovery efforts at the Guest Ranch. The "Future w/ Project" cash reserves is an estimate. (3) Annual operating cost <br /> includes all Ranch operations including dude ranch, lodging, and special event expenses. The intended use for this ratio <br /> was for agricultural operations only, so the cost per acre-foot does not necessarily apply here. <br /> Collateral: As security for the loan, the Ranch will pledge C-BT units valued at minimum of 110% <br /> of the loan amount. This is in compliance with the CWCB Financial Policy#5 (Collateral). <br /> cc: David Jessup, General Partner, Sylvan Dale Ranch, LLLP <br /> Susan Schneider/Jennifer Mele, Colorado Attorney General's Office <br /> Attachment: Water Project Loan Program—Project Data Sheet <br />