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Water Project Construction Loan Finan~ial Activity aud Delinquency Report . Finaucial Activity Loan Financial Activity relative to the Water Project Construction Loan Program for the period from July 2001 through June 2002 is detailed on the following attachment. Funds received relative to loans in repayment totaled $12.1 M for Fiscal Year 2002. Funds disbursed relative to new project loans totaled $18.6 M for the same period. Net activity resulted in $6.5 M disbursed from the CWCB Construction Fund and the Severance Tax Trust Fund Perpetual Base Account (STTFPBA) over the total received. . Further breakdown is summarized as follows: The Construction Fund portion consists of $10.0 M in receivables and $16.8 M in disbursements for a total net activity of$6.8 M disbursed over received. The STTFPBA consists of$2.1 M in receivables and $1.8 M in disbursements for a total net activitY of $0.3 M received over disbursed. Loau Repayments Loan Repayments received relative to the Water Project Construction Loan Program have been reviewed for the period covering July 2001 through June 2002. The effective due date, of the payment is inclusive of the Board's current 30 day late policy. Hence, the date the payment was received was compared to the last day allowable prior to the payment being considered late. Repayments due for Fiscal Year 2002 totaled 194. There were seven payments not received on time during this period. Two loan payments for the City of Greeley were received between 1 and 30 days late. The loan payment for Cache La Poudre Reservoir Company was received between 30 and 60 days late. The payment for Coon Creek Reservoir & Ditch Company was received over 60 days late. Tp.e payment for Pinon Mesa Ranches Community Ass~ciation is currently overdue for this year. The payment for ,Arkansas Groundwater Us~rs Association has u~t bee. receIved to date and a deferment has been requested. The payn).ent for the Town of Starkvllle has not been received to date. Thus, the on-time performance for the total repayments dlie was 96% in compliance or 4% not in compliance. The CWCB staff has been unable to maintain communication with the Starkville. There does not appear to be any town council or other governing body nor any indication that Starkville has been fulfilling its statutory duties. The CWCB staff has been in communication with the Las Animas County Attorney and the Colorado Department of Local Affairs, Field Services to determine if Las Animas County can take over the business of Starkville including its debt service. ' The Town of Starkville and Coon Creek Reservoir & Ditch Cqmpany are currently two years in arrears. Pinon Mesa Ranches Community Association had an interest during constr,uction payment due in July 2000 and their first annual payment due in July 2001, which have not been received to date. We are currently working with each of these borrowers to resolve their repayment problems in order to bring them into compliance with their loan contracts. .