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<br />CURRENT INDICATORS alue Weak AVerag. Strong <br />current Debt/capita: 260 >$2000 $1-2000 ..1L <$1000 <br />Current+New Debt/Capita: 1186 >$2000 ..lL $1-2000 <$1000 <br />current+New Debt/EQR: 2823 >$5000 ..lL $2500-5000 <$2500 <br />Debt/Assessed Value: 1.03 >50\ 25-50\ ..lL <25\ <br />Debt/Actual Value: .60, >10\ 5-10\ ..lL <5\ <br />Current Water Debt + New <br />Debt/EQR/MHI: 12.73 >20\ ..lL 10-20\ <10\ <br />Curr. Ratio Water <br />Fund (CA/CLl: 295.89 <100\ 100-200\ ..lL >200\ <br />Water Fund Reserves <br />/Curr. Expense: 279.41 <50\ 50-100\ ..1L >100\ <br />current Water Rates/MHI: 1.08 >1.75\ 1. 25-1. 75\ ..lL <1. 2 5\ <br />Current Water Rates + <br />Water Debt Srvc/MHI: 1.54 >3.0\ ..A. 1.5-3.0\ ..1L <1.5\ <br />Water Operating <br />Ratio (OR/OE) : 108.72 <100\ ..lL 100-120\ >120\ <br />Coverage Ratio (TR-OE)/DS: 323.47 <120\ 120-170\ ..1L >170\ <br />coverage Ratio inc. Loan: 144.10 <120\ ..lL 120-170\ >170% <br />BOND RATING LAST FIVE YEARS: The district's taxable Water Revenue Refunding <br />Bonds of 1988 were not rated. <br /> <br />4..', .~-=- <br /> <br />. <br /> <br />ARTICLE X, SECTION 20 (TABOR Amendment): Because the district receives a <br />significant portion of its annual revenue from property tax (approximately 21.7\ <br />budgeted for 1994), certain spending and revenue limits prescribed by Article X, <br />Section 20 of the state constitution may apply to the district's finances. <br /> <br />ECONOMIC ANALYSIS: <br /> <br />population: <br />The district's engineer has estimated population growth in the <br />district to have increased from 3,600 in 1990 to 4,600 in 1994. This <br />represents an annual population increase of approximately 6.94\. The <br />state demographer's office shows tne growth for Morgan County as a <br />whole to have increased at a rate Qf 3.99\ during the same period. The <br />demographer's office further projects annual population growth to slow <br />to 1.69\ from 1994 to 2000, and continue at an average annual rate of <br />roughly 1.39\ from 2000 to 2020. <br /> <br />. <br /> <br />Development: <br />. The district was formed in 1978, and the rate of increase in <br />customers has fluctuated over the ~ears. The three year period from <br />1987 to 1990 saw the number of EQR$ (residential customer equivalents) <br />increase by 74. But the three yea~ period from 1991 to 1994 saw EQRs <br />increase by 306. This data suggests how difficult it is to forecast <br />future growth in the area. Howeve~, it is probably safe to assume that <br />growth patterns will not be steady. <br /> <br />. The district serves a large untncorporated rural area, including <br />homeowners without private wells in the unincorporated communities of <br />Goodrich, Orchard, Snyder and Weldona. These communities likely serve <br />as "bedroom communities" to many ~rsons employed in larger cities such <br />as Brush and Fort Morgan. <br /> <br />Largest Employers: <br />. There are several large private employers in the'Fort 'Morgan area, <br />including the Excel corporation, wtth 1580 employees, Western Sugar, <br />and Leprino Foods, each with appro~imately 200 employees. <br />. Large public employers include the Morgan County government and the <br />area's school districts. <br /> <br />. <br />