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C150237 Increase Approval Letter
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C150237 Increase Approval Letter
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Last modified
5/8/2015 9:58:25 AM
Creation date
11/21/2014 12:01:15 PM
Metadata
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Template:
Loan Projects
Contract/PO #
CT2015-040
C150237
Contractor Name
Penrose Water District
Contract Type
Loan
County
Fremont
Bill Number
SB 07-122
Loan Projects - Doc Type
Approval Letter
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Penrose Water District Consent Agenda Item 4a. <br /> November 19-20,2014 Board Meeting(Updated November 21, 2014) <br /> Page 4 of 4 <br /> TABLE 3: FINANCIAL RATIOS <br /> Financial Ratio Past 3 Years Future <br /> w/Project <br /> 159% 100% <br /> Operating Ratio (revenues/expenses) (average) <br /> weak: <100% - average: 100% - 120% - strong: >120% (strong) $1,372K / <br /> $1,273K / $800K $1,366K <br /> Debt Service Coverage Ratio 101% <br /> (revenues-expenses)/debt service No current debt (average) <br /> weak: <100% - average: 100% - 120%II- !strong: >120%I ($1,372K $800K) <br /> / $566K <br /> Cash Reserves to Current Expenses 109% 64% <br /> weak: <50% - average: 50% - 100% - strong: >1001 (strong) (average) <br /> $873K / $800K $873K / $1,366K <br /> Monthly Residential Water Bill $49.61 $55 <br /> (weak: >$60 - average: $30-$60 I- strong: <$301 (average) (average) <br /> Collateral: Security for the loan will remain as a pledge of the District's base water use revenues <br /> backed by a rate covenant, and all revenues from the voter authorized 3.00 mill Special Revenue Fund <br /> levy. This is in compliance with the CWCB Financial Policy#5 (Collateral). <br /> cc: Ron Gasser, President, Penrose Water District <br /> Jason Meyer, P.E., GMS <br /> Susan Schneider/Jennifer Mete, Colorado Attorney General's Office <br /> Attachment: Water Project Loan Program - Project Data Sheet <br />
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