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<br />Director's Report Attachment, <br />Agenda Item 3b, July 24 - 25, 2000, Board Meeting- <br />Water Project Construction Loan Program <br />General Financial Matters <br /> <br />. <br /> <br />Financial Activity for February and March, FYOO <br /> <br />Summary reports of the Colorado Financial Reporting System (COFRS) reports for the <br />Construction Fund have been prepared to give the Board a continuing update on financial activity <br />in the Construction Fund. Summary reports for Period 10 (April 1 - April 30), Period 11 (May 1 <br />- May 31), and Period 12 (June 1 ~ June 30) are attached, <br /> <br />A total of $8.75 million was received' in loan deposits in the 12 calendar months of state <br />FY 1999-00, Of this amount, $3.82 million was return of principal and $4.93 million was <br />interest. In contrast, loan disbursements totaling $5,475,362.85 were made in the 12 calendar <br />months of state FY 1999-00. <br /> <br />Loan Repayment Delinquency Report <br /> <br />Loan Repayments received relative to the Water Project Construction Loan Program have <br />been reviewed for the period covering July 1999 through June 2000. The effective due date of <br />the payment is inclusive of the Board's current 30 day late policy. Hence, the date the payment <br />was received was compared to the last day allowable prior to the payment being considered late. <br /> <br />Repayments due for the Fiscal Year 2000 totaled 167. There were three payments not <br />received on time during this period. This includes two received between I and 30 days late . <br />(Handy Ditch Company and Mancos Water Conservancy District); one received between 31 and <br />60 days late (Coon Creek Reservoir and Ditch Company). Thus, the on-time performance for the <br />total repayments due was 98% in compliance or 2% not in compliance. Procedures have been <br />recently implemented to ensure a more successful on-time performance result as depicted above. <br /> <br />. <br />