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Table 3 - Sources of Funds, Plateau Creek Project Source I Amount Remaining CWCBauthorizations $17,137,500 Funding request for year 2000 (CWCB) I 10,000,000 I Revenue bonds 15,000,000 District reserve funds 13,222,500 Total $55,360,000 The balance of the funding, about $27,8 million, will come from revenue bonds and District reserve funds. The District is eligible for funding from the Colorado Water Resources & Power Development Authority (please see the enclosed letter from Mike Brod of the Authority), Both the District and the Authority are apparently of the opinion that it would be most advantageous for the District to issue its own revenue bonds. Financial Summary The District's financial condition appears quite strong at the present time. Table 4 summarizes some key financial indicators based on information in the District's audited financial statements for the years 1996 to 1998, All of the indicators in Table 4 are in the strong category per the Board's creditworthiness policy. D'ebt service coverage was calculated on a conservative basis without tap fees. Table 4. Ute WCD Financial Indicators Item 1998 1997 1996 Operating ratio (1) , 1.49 1.37 1.50 Debt service coverage w/o tap fees (2) 2.21 2.05 1.87 Debt per tap , $815 $897 $904 Cash reserves to current expense 1.16 1.47 0,97 (1) Operating revenue/actual operating expense (2) (Total revenues-tap fees-actual operating expense)/debt service The District staff has provided a cash flow projection for all District revenues and costs through the year 2032. The projection indicates adequate debt service coverage and 'reserves in each year, The District currently has four Construction Fund loan contracts dating from 1982 to 1995 with a total outstanding balance of about $7,7 million, The District is current on all four loans, Total long-term debt amounts to $16,9 million, 4 " " ~ . .