C150016 Parity Lein

• Contract/PO #: C150016
• Contractor Name: Idaho Springs, City of
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

CITY OF IDAHO SPRINGS
2019 Parity Certificate
Exhibit A
2018 Unaudited *22%Rate Unaudited incl.
Before Rate Increase 2019 Rate
Increase Total Factor Increase
Operating Revenues $ 796,198 $ 175,164 $ 971,362
Investment Earnings 14,451 - 14,451
Lease Revenue 28,405 - 28,405
Hauled Water 22,121 - 22,121
Other Revenue 9,872 - 9,872
Total Revenues 871,047 175,164 1,046,211
Expenditures (1,227,926) - (1,227,926)
Less:Capital Outlay 338,883 - 338,883 (1)
Less: Debt Service 236,039 - 236,039
Less: Depreciation - - -
Net Operating Expenses (653,004) - (653,004)
Net Revenues $ 218,043 $ 175,164 393,206
Debt Service(2021) 340,942 340,942
Debt Coverage Ratio 110% 110%
Required Debt Coverage 375,036 375,036
Excess(Shortfall) $ (156,993) $ 18,170
*Additional revenue that would have been earned had the City passed rate increase
from Ordinance No.4 Series 2019 for the 2018 fiscal year
(1)Based on City historically capitalizing 64%of CIP fund capital expenditures(2015-2017)