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I I CHAPTER VIII - FINANCIAL PROGRAM I The North Poudre Irrigation Company is an established non-profit Corporation. The majority of the Shareholders and users represent agricultural irrigation usage for water. Annual assessments have been levied upon the Shareholders since 1909. I I Beginning in 1981 assessments were increased to $80.00 per share and again increased to $100.00 per share in 1983 to provide for Reservoir Rehabilitation Projetts. l~is assessment was specif- ically set to pay for The North Poudre Irrigation Company's cash share of costs on the Rehabilitation of Fossil Creek Dam and Spillway. I I I I The following payout schedule was prepared delineating the method of payment for The North Poudre Trrigation Company's fifty percent cash contribution to the projett, and future debt service. I The chart shows the year, anticipated assessments in dollars per share, the total estimated revenues per year and the total amount per year designated to the company's ordinary operations and ma1n- tenance budget. Also shown are the debt service the company 1S currently obligated to on the Park Creek Bureau of Reclamation Loan and the Fossil Creek Colorado Water Conservation Board Loan. I I I I The Repayment Schedule for the Proposed Reservoir No. IS 1S In- cluded, plus the excess cash amounts each year which can be used by The North Poudre Irrigation Company, to finance their fifty percent contribution to the project. The accumulated total on Reservoir No. 15 represents The North Poudre Irrigation Company's total cash contributions to the project to date. I I I I I The North Poudre Irrigation Company has operated since the year 1901 with continuous business operations paid out of assessments. The Proposed Reservoir No. IS Project does not require additional increases in these assessments from the level they have been over the last three ynars. 31