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1 <br /> Winter Park Water and Sanitation District <br /> MANAGEMENT'S DISCUSSION AND ANALYSIS <br /> (continued) <br /> Debt Administration <br /> As of December 31, 2010 the District had total debt obligations of $1,901,747. Of this amount, <br /> $828,000 is general obligation bonded debt and $1,073,747 represents notes payable to the <br /> State of Colorado and the Colorado Water Resources and Power Development Authority. <br /> Additional detail on the District's debt is in Note 5 of this report. <br /> Economic Factors and Next Year's Budget <br /> We are anticipating minimal growth with the current economic situation, so the tap fee revenue <br /> budget for 2011 is zero. As always, the budget is created with Total Budgeted Revenue (less <br /> tap revenue) covering Budgeted Operation/Maintenance expenses and Debt Retirement <br /> payments. ' <br /> Legal counsel and District staff continue to study and monitor water supply and water rights <br /> which are necessary to sustain our business of providing water and being able to meet future <br /> demand. <br /> Capital project expenditures are itemized based on 'growth' (projects necessary due to new <br /> customers coming on line) and `district' (projects necessary to upgrade existing infrastructure for <br /> old and new customers). Thus, `growth' projects are done only if/when tap fee revenue is <br /> available. <br /> Requests for Information <br /> This financial report is designed to provide a general overview of the District's finances. <br /> Questions concerning any of the information provided in this report or requests for additional <br /> financial information should be addressed to: <br /> District Manager <br /> Winter Park Water and Sanitation District <br /> P.O. Box 7 <br /> Winter Park, Colorado 80482 <br /> 1 <br /> 6 1 <br />