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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />! <br /> <br />Construction Fund Cash Forecast <br /> <br />In projecting future revenue from the long-term cash sources, the following conservative <br />assumptions were used: <br /> <br />. Interest on new loans will be amortized at an average 4.0% for 30 years <br /> <br />. Future Mineral Lease Fund cash distributions will start at the average of the previous <br />three years and decrease at 5.0% per year <br /> <br />. Interest from the State Treasurer will be 6.0% of the average cash balance. Section 15 <br />of Senate Bill 97-008 exempted the CWCB Construction Fund from the Treasur's 15- <br />percent management fee beginning in FY 1998. <br /> <br />. Loan recovery on existing loans will be assumed at 95% (although historically it has <br />been nigher). <br /> <br />Based on the above assumptions, the existing cash sources to the fund are proj ected to be <br />approximately $183.3 million over the next ten years (see Table 2 and Figure 3. pie chart). <br /> <br />The total cash balance of the Construction at the end ofFY 98-99 is estimated to decline from <br />about $88.8 million at the end of FY 99 to about $31.3 million by about the end ofFY03 and remain <br />at about that level to the end of the forecast period (see Table 2 and Figure 4 - bar graph). <br /> <br />~ <br /> <br />.A <br /> <br />.A <br /> <br />7 <br /> <br />.... <br />