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<br />Laporte Area Water Authority <br />Cash Projections <br /> <br />Beginning Balance <br /> <br />Projected Revenue Water <br />Projected Interest <br />Projected Debt Service Revenue <br />Projected Debt Service Expenses <br />Projected Operating Expenses <br /> <br />Cash available <br /> <br />Projected Revenue Water&Debt <br />Projected Expenses Water <br />Projected Debt Service <br />Total Cash Available <br />Projected Restricted Cash <br />Cash after Bond Covenants <br /> <br />Projected Capital Expenses <br /> <br />End of Year Due from General <br /> <br />Cash <br /> <br />$1,679,581.70 <br /> <br />660,298.14 estimate through 9/30/04 <br />11,998.35 <br />390,153.54 <br />(181,831.00) <br />(556,956.54) <br /> <br />$2,003,244.19 at 9/30/04 <br /> <br />1,783,320.00 <br />(1,011,732.00) <br />(771,588.00) <br />2,003,244.19 before bond convenants <br />(1,595,840.00) bond covenants <br />407,404.19 at 9/30/05 * <br /> <br />(833,181.00) <br /> <br />($425,776.81 ) <br /> <br />LAPAWA cash position has decreased significantly since the purchase of $3,412,000 from Galveston, purchase <br />of upgrade $1,009,108 and a rebate to member cities of $537,284. <br />We do not want to fall below our bond covenanants requirements. Consequently, <br />we will borrow $500,000 dollars from the Utility Fund and repay this fund through capital recovery fees of <br />$98,577.04 yearly for approximately 6 years. The remaining $331,181 will come from (fund 16) LPAWA Reserves.* <br />