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<br />;:c <br /> <br />'i <br /> <br />DEPARTMENT OF LOCAL AFFAIRS <br />OFFICE OF FIELD SERVICES <br /> <br />STATE OF COLORADO <br />RECEIVED <br /> <br />July 18, 1989 <br /> <br />JUL 1 9 '89 <br />COLOf\AUU v'4ATER <br />CONSERVATION <br />BOAR" <br /> <br /> <br />1313 Sherman Street, Rm. 520 <br />Denwr, Colorado 80203 <br />Phonf> (03) 866~2156 <br /> <br />Roy Romer <br />Governor <br />Timothy W. Schultz <br />Executive Director <br /> <br />Ms. Barbara Wyatt <br />Idledale Water and Sanitation District <br />P.O. Box 171 <br />Idledale, C~lorado 80453 <br /> <br />Dear Barbara: <br /> <br />Enclosed is a financial scenerio table which depicts future projects the <br />District is considering, identifies revenue sources and shows the <br />shortfall which will occur, This is a limited view of the future <br />utilizing certain assumptions, but I think you'll find it interesting. It <br />certainly makes the case for steady increases in user fees and/or property <br />taxes to address the District's future needs. A little bit of luck is <br />also needed to get outside assistance in the form of grants and <br />below-market loans. <br /> <br />Under "Expenses", the table shows the current Impact loan and your $30,000 <br />loan obligation ending in 1998. The next line shows your anticipated <br />operating expense and assumes a 2% inflation rate. <br /> <br />The following references to future projects are from the Summary of Water <br />System/Treatment Imorovements by Ken Mangelson, Rocky Mountain <br />Consultants, Inc. <br /> <br />The Phase II, Part 2 expense of $87,000 (new dam and reservoir) begins in <br />1991 (accounts for the time lag necessary for Legislative approval of <br />loan) and it is assumed the District could get a $43,500 CWCB loan @ 5% <br />over 20 years and an Impact grant of $43,500 to finance the project. <br /> <br />The next item is Phase III work which includes Phase II, Part 1 ($40,000) <br />and Part 3 ($109,500). Realistically, the District will probably not have <br />the financial capability to address this work until 1993. <br /> <br />"Total Expenses" is the sum of all items r..flected on an annual basis. <br /> <br />Revenues are shown next with "property taxes" and "user fees." It is <br />assumed the District will take at least its minimum revenue raising limit <br />of 5.5% and maintain user charges at $26 per month/per tap. <br />