BOARD02463

• Board Meeting Date: 3/22/2005
• Description: CWCB Director's Report
• Board Meetings - Doc Type: Memo

Water Project Construction Loan Program
Loan Repayment Delinquency Report
Loan Financial Activity Report
March 2005

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Loan Repayment Delinquency

Loan Repayments received relative to the Water Project Construction Loan Program have been reviewed
for the period covering July 2004 through February 2005. The effective due date of the payment is
inclusive of the Board's current 30 day late policy. Hence, the date the payment was received was
compared to the last day allowable prior to the payment being considered late.

Repayments due for the fust eight months of Fiscal Year 2005 totaled 148. There were five payments not
received on time during this period. A partial payment was received from Lone Cabin Ditch and
Reservoir Company less than 30 days late. The loan payments for the Handy Ditch Company, the Town
of Walden and Rodney Preisser were received between 30 and 60 days late. The loan payment for Shultz
Farm, Inc. was received over 60 days late. Thus, the on-time performance for the total repayments due
was 97% in compliance or 3% not in compliance.

Loan Financial Activity

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Loan Financial Activity relative to the Water Project Construction Loan Program for Fiscal Year 2005 is
detailed on the following attachment. Funds received relative to loans in repayment totaled $9.0 M for
this period. Funds disbursed relative to new project loans totaled $21.8 M for this period. Net activity -
resulted in $12.8 M disbursed from the CWCB Construction Fund and the Severance Tax Trust Fund
Perpetual Base Account (STTFPBA) over the total received.

Further breakdown is summarized as follows: The Construction Fund portion consists of $7.0 M in
receivables and $19.1 M in disbursements for a total net activity of$12.1 M disbursed over received. The
STTFPBA consists of$2.0 M in receivables and $2.7 M in disbursements for a total net activity of $0.7
M disbursed over received.

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