Laserfiche WebLink
<br />I' <br /> <br />, <br />, <br /> <br />'. FINANCIAL ANALYSIS <br /> <br />The total estimated cost of the revised project is $306,565, of which the Company is requesting a <br />Construction Fund loan of $230,000, which is 75% of the total project cost. The Company is requesting an <br />amendment to their existing $200,000 loan with the CWCB in the amount of $30,000, for a new loan <br />amount of $230,000. <br /> <br />Table 3 is a summary of the fmancial aspects of the proj ect. Annual assessments would increase <br />from $12.50 up to $13.00 per share with a CWCB loan payment of$12,494 (including the 10% reserve <br />requirement.) This $13.00 assessment represents only $1.41 per acre-foot annual loan cost, based on <br />average annual diversions of 8,866 acre-feet. <br /> <br />Table 3. Financial Summary <br /> <br />Project Cost $306,565 <br />Loan Amount (75% of Project Cost) $230,000 <br />CWCB Loan Pavrnent Amount, including 10% loan reserve $12,494 <br />Number of Shareholders 51 <br />Number of Shares of Stock 1952 <br />Current Assessment per Share $12.50 <br />Future Assessment per Share $13.00 <br />Annual Loan Cost per acre-foot $1.41 <br />(Average annual diversions: 8,866 acre-feet) <br /> <br />. <br /> <br />Credit worthiness: The Pine River-Bayfield Ditch Company has an approved loan with CWCB in the <br />amount of$200,000. To-date the Company has withdrawn $65,955 of those available funds. Table 4 <br />shows the Company's Financial Ratios and indicates, with the exception of Cash Reserves, average to <br />strong ability to repay with the proposed loan increase. <br /> <br />Table 4. Financial Ratios <br /> <br />. <br /> <br />Financial Ratio With With <br /> Current project Amended project <br />Operating Ratio (revenue/expense) 196% 198% <br />weak: less than 100% (strong) (strong) <br />average: 100% - 120% <br />strong: greater than 120% <br />Debt Service Coverage Ratio 114% 101% <br />(revenues-expenses)/debt service (average) (average) <br />weak: less than 100% <br />average: 100% - 125% <br />strong: greater than 125% <br />Cash Reserves to Current Expense 49% 116% <br />weak: less than 50% (weak) (strong) <br />average: 50% - 100% <br />strong: greater than 100% <br /> <br />3 <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Plaruring <br />