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Little Thompson Water District <br /> Notes to Financial Statements <br /> December 31, 2009 <br /> Note 12-Commitments and Contingencies <br /> Knoth Reservoir Project <br /> At the January 5, 2006 board meeting Little Thompson Water District entered into a contract for <br /> $600,000 (20%) participation with the Supply Irrigation Ditch Company and the Brand family for <br /> rehabilitation of the Knoth Reservoir. During 2009 the District did not incur any costs on this project. <br /> Litigation <br /> The District has received notices of claim from various parties related to surface water on their <br /> respective properties at the Dry Creek Reservoir, which is jointly owned by the District and CWCWD. <br /> The amounts of these claims have not been stated. Based on these facts and circumstances, <br /> management of the District is unable to determine whether these claims will have a material adverse <br /> impact on the District's financial position. <br /> Note 13-Subsequent Events <br /> In preparing the financial statements, the District has evaluated events and transactions for potential <br /> recognition or disclosure through April 8, 2010, the date that the financial statements were available to <br /> be issued." <br /> 23 <br />