BOARD00356

• Board Meeting Date: 5/22/2000
• Description: CWCB Director's Report
• Board Meetings - Doc Type: Memo

Director's Report Attachment, Water Project Construction LoaD Program
May 22-23, 2000 Board Meeting -
Water Project Construction Loan Program - General and Financial Matters

Summary reports of the Colorado Financial Reporting System (COFRS) reports for the
Construction Fund have been prepared to give the Board a continuing update on financial activity
in the Construction Fund. Summary reports for Period 8 (February I - February 29), and Period
9 (March I - March 31) are attached.

A total of $6.55 million was received in loan deposits in the first 9 calendar months of
state FY 1999-00. Of this amount, $2.88 miJlion was return of principal and $3.67 million was
interest. In contrast, loan disbursements totaling $3,783,886.52 were made in the first 9 calendar
months of state FY 1999-00.

Loan Repayment Delinquency Report

Loan Repayments received relative to the Water Project Construction Loan Program have
been reviewed for the period covering July 1999 through April 2000. 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 the first ten months of the Fiscal Year 2000 totaled 133. There were
three payments not received on time during t11is period. This includes two received between I
and 30 days late (Handy Ditch Company and Mancos Water Conservancy District), and one
received between 31 and 60 days late (Coon Creek Reservoir and Ditch Company). Thus, the
on-time performance for the total repayments due was 98% in compliance or 2% not in
compliance. Procedures have been recently implemented to ensure a more successful on-time
performance result as depicted above.

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