CT2015-040 Increase Financials

• Contract/PO #: CT2015-040
• Contract/PO #: C150237
• Contractor Name: Pnerose Water District
• Contract Type: Loan
• Loan Projects - Doc Type: Feasibility Study

PENROSE W A TER DISTRICT
340 Grant Street ' Penrose,CO 81240
1. Direct obligations of the U.S. Government, its agencies, and instrumentalities to which the full faith
and credit of the U.S.Government is pledged or obligations to the payment of which the full faith and
credit of the State is pledged;
2. Certificates of deposit or savings accounts that are either insured or secured with acceptable collateral
with in-state financial institutions, and fully insured certificates of deposit or savings accounts in out
of state financial institutions;
3. With certain limitation, negotiable certificates of deposit, prime bankers acceptances, prime
commercial paper,and repurchase agreements with certain limitations;
4. Town,municipal,or school district tax supported debt obligations;bond or revenue anticipation notes;
money; or bond or revenue anticipation notes of public trusts whose beneficiary is a town,
municipality,or school district;
5. Notes or bonds secured by a mortgage or trust deed insured by the Federal Housing Administrator and
debentures issued by the Federal Housing Administrator, and obligations of the National Mortgage
Association;and
6. Money market funds regulated by the Securities and Exchange Commission in which investments
consist of the investments in 1,2,3,and 4 above.
Concentrations of Credit Risk
The District places no limit on the amount it may investment in any one issuer.At December 31,2011 the District
had no concentration of investment credit risk.
The District invests excess funds under the prudent investor rule. Criteria for selection of investments and their
order of priority are: 1)Safety;2)liquidity;and 3)yield.
3. Restricted Cash and Investments
Cash and investments have been restricted as follows:
Purpose Amount
Repayment of 2003 revenue refunding bonds $113,135
Future capital improvement projects 24,358
Acquisition,delivery and storage of water by voter approval 49,757
Total $187,250
4. Property Taxes
Property tax revenue levied in 2011 and collectable in 2012 is$133,409.
5. Pension plan
The Penrose Water District has adopted a 401(k)pension plan known as the Penrose Water District Profit Sharing
Plan administered by Mutual of Omaha for all full-time employees who, after one year of service, are eligible to
participate. The District matches employee contributions up to 4%of employee compensation. The District has no
liability for further pension benefits. Four full-time employees are all participating in the plan. Employee and
employer contributions for each of the last 3 years were as follows:
Year Total Payroll Employee Contribution Employer Contribution
2011 $263,637 $6,489 $6489
2010 $247,064 $6,251 $6,251
2009 $239,513 $6,787 $6,787
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