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BOARD02312
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Last modified
8/16/2009 3:14:33 PM
Creation date
10/4/2006 7:13:52 AM
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Board Meetings
Board Meeting Date
11/19/2001
Description
CWCB Director's Report
Board Meetings - Doc Type
Memo
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<br />e <br /> <br />e <br /> <br />e <br /> <br />Water Project Construction Loan Program <br />Financial Activity and Loan Repayment Delinquency Report <br /> <br />Loan Financial Activity Report <br /> <br />Loan Financial Activity relative to the Water Project Construction Loan Program for the period from July 2001 <br />through October 2001 is detailed on the following attachment. Funds received relative to loans in repayment totaled <br />$4.6 M for this period of Fiscal Year 2002. Funds disbursed relative to new project loans totaled $6. I M for the same <br />period. Net activity resulted in $1.5 M disbursed from the CWCB Construction Fund and the Severance Tax Trust <br />Fund Perpetual Base Account (STTFPBA) over the total received. <br /> <br />Further breakdown is summarized as follows: The Construction Fund portion consists of $4.1 M in receivables and <br />$6.0 M in disbursements for a total net activity of $1.9 M disbursed over received. The STTFPBA consists of $0.5 M <br />in receivables and $0.1 M in disbursements for a total net activity of $0.4 M received over disbursed. <br /> <br />Loan Repayment Delinquency Report <br /> <br />Loan Repayments received relative to the Water Project Construction Loan Program have been reviewed for the period <br />covering July 2001 through October 2001. The effective due date of the payment is inclusive of the Board's current 30 <br />day late policy. Hence, the date the payment was received was compared to the last day allowable prior to the <br />payment being considered late. <br /> <br />Repayments due for the first four months of Fiscal Year 2002 totaled 83. There were four payments not received on <br />time during this period. Two loan payments for the City of Greeley have not been received to date. The loan payment <br />for Cache la Poudre Reservoir Company was received between 30 and 60 days late. The payment for Pinon Mesa <br />Ranches Community Association is currently overdue for this 120-day period. Thus, the on-time performance for the <br />total repayments due was 95% in compliance or 5% not in compliance. <br /> <br />The Town of Starkville is currently two years in arrears. Coon Creek Reservoir & Ditch Company is currently two years <br />in arrears. Pinon Mesa Ranches Community Association had an interest during construction payment due in July 2000, <br />which has not been received to date. The first annual payment of Pinon Mesa was due in July 2001. We are currently <br />working with each of these borrowers to resolve their repayment problems in order to bring them into compliance with <br />their loan contracts. <br /> <br />Loan Activitv <br />CONSTRUCTION FUND <br />Period PrinciDal Interest Total Received Disbursements Net Activitv <br />Julv 2001' $ 690,799 $ 1,165,757 $ 1,856,556 $ 616,791 $ 1,239,765 <br />August 2001 $ 881,862 $ 568,221 $ 1,450,083 $ $ 423,756 <br /> 1,026,327 <br />Sentember 2001 $ 75.338 $ 59,536 $ 134,874 $ 2,270,353 $ (2,135,479 <br />October 2001 $ 364,585 $ 310,191 $ 674,775 $ 2,151,447 $ !1,476,67;? <br />November 2001 $ - $ - $ . $ . $ - <br />December 2001 $ - $ - $ . $ . $ - <br />Januarv 2002 $ - $ - $ . $ . $ - <br />Februarv 2002 $ - $ . $ . $ . $ - <br />March 2002 $ - $ . $ - $ - $ . <br />Anril 2002 $ - $ - $ - $ - $ . <br />Mav 2002 $ - $ - $ - $ . $ - <br />June 2002 $ - $ . $ . $ - $ - <br />FY 2002 Totals $ 2.012,583 $ 2,103,705 $ 4,116,289 $ 6,064.919 $ (l,948,630 <br /> <br />22 <br />
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