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Castle Pines Metropolitan District Agenda Item 29b <br /> May 9,2014(Updated May 23,2014) <br /> Page 7 of 7 <br /> (20-years @ 2% interest, $110,000 annual payment). This water transfer line is not related to the <br /> previously described future improvements associated with the Reallocation. The"Future w/ <br /> Project" financial ratios shown in Table 6 do not include the 2003 Bond debt but does account for <br /> the pending CWRPDA debt in its future projections. The general fund debt (2008 Bond) is not <br /> included in Table 6 as the financial review looked at the ability of the water activity enterprise to <br /> repay the loan. <br /> TABLE 6: ENTERPRISE FINANCIAL RATIOS <br /> Financial Ratio Past 3 Years Future <br /> w/Project <br /> Operating Ratio(revenues/expenses) 129% 120% <br /> weak: <100%`- average: 100% - 120% - stron_: >120°/ (Strong) (Average) <br /> 1 $3.6M/$2.8M $3.6M/$3.0M <br /> Debt Service Coverage Ratio 316% 205% <br /> (revenues-expenses)/debt service (Strong) (Strong) <br /> weak: <100% - average: 100%- 120% - stron_: >120% (3.6M$-$2.43M) ($3.6M-$2.43M) <br /> $0.37M $0.57M <br /> Cash Reserves to Current Expenses 196% 167% <br /> weak: <50% - average: 50%- 100%`- strong: >100% (Strong) (Strong) <br /> 1 $5.5M/$2.8M $5M/$3M <br /> Debt per Tap(Based on 1,700 Taps) $1,200 $4,940 <br /> weak: >$5,0001- average: $2,500- $5,000 - strong: <$2,500 (Strong) (Average) <br /> 1 $2M/1.7K $8.4M/1.7K <br /> Average Monthly Water Bill $113 $113 <br /> 'weak: >$60 - average: $30- $60 - strong: <$301 (Weak) (Weak) <br /> Collateral- Security for this loan will be a pledge of the District's water activity enterprise <br /> revenues backed by a rate covenant as evidenced by annual financial reporting. Parity status will be <br /> required with the existing CWRPDA loans. This security is in compliance with CWCB Loan Policy <br /> #5 (Collateral). <br /> cc: Paul Dannels, District Manager, Castle Pines Metro District <br /> Susan Schneider/Jennifer Mele, Colorado Attorney General's Office <br /> Attachment: Water Project Loan Program—Project Data Sheet <br />