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<br />Water Project Construction Loan Financial Activity and Delinquency Report
<br />
<br />Financial Activity
<br />
<br />Loan Financial Activity relative to the Water Project Construction Loan Program for the period from July
<br />2001 through April 2002 is detailed on the following attachment, Funds received relative to loans in
<br />repayment totaled $11,3 M for this period of Fiscal Year 2002, Funds disbursed relative to new project loans
<br />totaled $17,0 M for the same period, Net activity resulted in $5,7 M disbursed from the CWCB Construction
<br />Fund and the Severance Tax Trust Fund Perpetual Base Account (STTFPBA) over the total received,
<br />
<br />Further breakdown is summarized as follows: The Construction Fund portion consists of $9,3 M in
<br />receivables and $16,3 M in disbursements for a total net activity of $7,0 M disbursed over received, The
<br />STTFPBA consists of $2,0 M in receivables and $0,7 M in disbursements for a total net activity of $1.3 M
<br />received over disbursed,
<br />
<br />Loan Repayments
<br />
<br />Loan Repayments received relative to the Water Project Construction Loan Program have been reviewed for
<br />the period covering July 2001 through April 2002, The effective due date of the payment is inclusive of the
<br />Board's current 30 day late policy, Hence, the date the payment was received was compared to the last day
<br />allowable prior to the payment being considered late,
<br />
<br />Repayments due for the fust ten months of Fiscal Year 2002 totaled 153, There were six payments not
<br />received on time during this period, Two loan payments for the City of Greeley were received between 1 and
<br />30 days late, The loan payment for Cache la Poudre Reservoir Company was received between 30 and 60
<br />days late, The payment for Coon Creek Reservoir & Ditch Company was received over 60 days late, The
<br />payment for Pinon Mesa Ranches Community Association is currently overdue for this 300-day period, The
<br />payment for Arkansas Groundwater Users Association has not been received to date, Thus, the on-time
<br />performance for the total repayments due was 96% in compliance or 4% not in compliance,
<br />
<br />The Town of Starkville and Coon Creek Reservoir & Ditch Company are currently two years in arrears,
<br />Pinon Mesa Ranches Community Association had an interest during construction payment due in July 2000
<br />and their first annual payment due in July 2001, which have not been received to date, We are currently
<br />working with each of these borrowers to resolve their repayment problems in order to bring them into
<br />compliance with their loan contracts,
<br />
<br />CONSTRUCTION FUND
<br />Period Principal Interest Total Received Disbursements Net Activity
<br />July 200 I $ $ $ $ $
<br /> 690,799 1,165,757 1,856,556 616,791 1,239,765
<br />August 200 I $ $ $ $ $
<br /> 881,862 568,221 1,450,083 1,026,327 423,756
<br />September 200 I $ $ $ $ $
<br /> 75,338 59,536 134,874 2,270,353 112,135,479)
<br />October 200 I $ $ $ $ $
<br /> 364,585 310,191 674,775 2,151,447 111,476,672)
<br />November 2001 $ $ $ $ $
<br /> 380,109 657,890 1,037,999 823,881 214,118
<br />December 200 I $ $ $ $ $
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