PROJ00504

• Contract/PO #: C153334
• Contractor Name: Henry Waneka Mutual Reservoir Company c/o City of
• Contract Type: Loan
• Water District: 6
• County: Boulder
• Bill Number: FSA
• Loan Projects - Doc Type: Feasibility Study

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III. FINANCIAL STATUS AND REVENUE SOURCES

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A. General Information

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For the purpose of the feasibility study, the financial information
includes the revenues and expenditures of the City of Lafayette as well
as the Henry Waneka Mutual Reservoir Company (HWMRC). The City currently
owns 62% of the shares by the HWMRC, thus entitling the City to their pro-
portionate share of the storage yield and volume available in the reservoir.
The City will bear the major portion of the financial burden of the improvements
to the facility and will also realize the major benefits. In addition,
Lafayette has embarked on a program of acquiring sufficient water rights and
storage to meet its growing population demands. The Waneka Reservoir is
expected to play a major role in maximizing the yield of the acquired water
rights and preserve their historic consumptive use.

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A detailed auditors report is available for the City of Lafayette, a

summary of which is included herein. An auditors report has not been prepared

for the reservoir company due to the financial burden that would be imposed

on the stockholders. Presently, the revenues are generated by the stock

assessments which are only assessed to cover operating and maintenance costs.

No additional revenue is generated by other sources. A financial statement

can be made available in the future at a cost of about $3,000 if required by

the CWCB.

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B. City of Lafayette

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I - Financial Status

Financial statements and auditors reports for 1979 and 1980, prepared

by the Alexander Grant Company, were made available to the consultant.

Portions of the both reports are enclosed in Appendix-B, including the

Combined Balance Sheet, and the Combined Statement of Revenues Expenditures

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