PROJ00486

• Contract/PO #: C153502
• Contractor Name: Santa Maria Reservoir Company
• Contract Type: Loan
• Water District: 0
• County: Hinsdale
• Bill Number: SB 88-30
• Loan Projects - Doc Type: Feasibility Study

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2. Financial Reports

Summary financial information, including balance sheets, revenue
and expense statements, etc., prepared by the SMRC's certified public
accounts are included in this report under Appendix A.

The 1986 income for the S~1RC amounted to a little over $126,000;
96 percent of that income was derived from assessments. After depre-
ciation and expenses, which amounted to about $111,000, are deducted,
the 1986 net income for the SMRC was approximately $15,000. The
financial condition of the Company is solid and no lawsuits are
pending against the SMRC at this time.

3. Physical Assets

In addition to the two reservoirs, appurtenant structures, and the
water stored within the reservoirs, the S~1RC owns equipment used in
maintenance and in the daily operations of the Company. A listing of
this equipment is included in Table II-I.

O. Operational Aspects

Water is stored in the reservoirs until called out by SMRC
shareholders. Water is normally called out in July and August to
irrigate crops until harvest, but water may be requested up until
November 1st in some years. Shareholders may request their pro rata
share of water when river flow allows delivery.

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