IN REPLY 

 REFER TO:

United States Department of the Interior

BUREAU OF RECLAMATION 

Mid-Pacific Regional Office 

2800 Cottage Way 

Sacramento, California 95825-1898

MP-3400 July 30, 2004 

FIN-4.00 

«Name» 

«Address» 

«Address1» 

«Address2» 

«Address3» 

Subject: Refund Provision Analysis for Fiscal Year 2003 Central Valley Project (CVP), 

 Irrigation and/or Municipal and Industrial (M&I) Water 

Dear Water Contractor, 

We have prepared subject analysis for fiscal year 2003 to determine if you have an overpayment 

and are entitled to a refund in accordance with your CVP water service contract. The enclosed 

exhibit shows your results of operations for fiscal year 2003, less deficit and capital recovery. 

The resulting balance indicates either a positive or negative result. A negative amount “Net 

(Under)” indicates you did not qualify for a refund and no further action is required. However, if 

the result is a positive amount “Net Over”, you may be entitled to a refund. Note: The amount 

to be refunded will be reduced or possibly eliminated by any outstanding water and/or 

Restoration Fund charges due through February 2004. The Bureau of Reclamation will 

notify you if your refundable amount is adjusted, after your initial response. 

Your refundable amount can be applied in a combination of ways: 

1. Voluntary payment for: 

a. Prior fiscal year(s) deficit (irrigation) 

b. Prior fiscal year(s) accumulated deficit (M&I) 

2. Voluntary payment for fiscal year 2004; 

3. Other water payment; and/or 

4. Refund. 

Please advise Reclamation in writing within 30 days from the date of this letter, as to how you 

wish to apply your refundable amount. We process all refunds by electronic fund transfer. 
Subject: Refund Provision Analysis for Fiscal Year 2003 Central Valley Project (CVP), 

 Irrigation and/or Municipal and Industrial (M&I) Water 

2

If you choose a refund, please complete the enclosed ACH Vendor/Miscellaneous Payment 

Enrollment Form if you have not submitted one previously or if the information has changed and 

return it with your response. 

If we do not receive your response, the overpayment/refundable amount will be applied in 

accordance with the standard priority of crediting as follows: 

Irrigation – deficit interest, principal on interest bearing deficits, non-interest bearing 

deficits and capital repayment; 

 M&I – capital repayment and the accumulated deficit, if any. 

If you have any questions, please contact the applicable Ratesetting Service staff: 

Irrigation: Ms. Linda Bringle at 916-978-5391, lbringle@mp.usbr.gov. or; 

 Ms. Maureen Reynoso at 916-978-5374, mreynoso@mp.usbr.gov., 

M&I: Ms. Masako Altman at 916-978-5365, maltman@mp.usbr.gov. or; 

 Ms. Tasia Papajohn at 916-978-5367, tpapajohn@mp.usbr.gov., 

Or any of the above at TDD 916-978-5608. 

To assist us in our ongoing effort to provide better and more timely customer service, please 

verify your address and provide a point of contact for our Ratesetting Services correspondence 

file. 

Sincerely, 

Lawrence J. Bauman 

Manager, Ratesetting Services 

Enclosure 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

CHOWCHILLA WD - BUCHANAN UNIT

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $374,640.00 $0.00

O&M Expenses (262,209.22) 0.00

Subtotal 112,430.78 0.00

PFR Principal & Interest Adjustment (Option 1) 36.07 

Results of Operations - Surplus/(Deficit) 0.00 112,466.85

Water Deliveries

Class 1 24,000 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 24,000 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 24,000 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 24,000 X 3.76 (90,240.00)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) - 22,226.85 

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

CORNING WD - CORNING CANAL

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $148,634.69 $0.00

O&M Expenses (123,349.36) 0.00

Subtotal 25,285.33 0.00

CFO/PFR Expense Adjustment (Option 2) (24,474.06)

Results of Operations - Surplus/(Deficit) 811.27 0.00

Water Deliveries

Class 1 9,257 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 9,257 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 9,257 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 9,257 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * $811.27 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

PROBERTA WD - CORNING CANAL

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $49,203.44 $0.00

O&M Expenses (38,438.84) 0.00

Subtotal 10,764.60 0.00

CFO/PFR Expense Adjustment (Option 2) (5,645.78)

Results of Operations - Surplus/(Deficit) 5,118.82 0.00

Water Deliveries

Class 1 3,289 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 3,289 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 3,289 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 3,289 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * $5,118.82 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

THOMES CREEK WD - CORNING CANAL

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $49,734.87 $0.00

O&M Expenses (38,107.74) 0.00

Subtotal 11,627.13 0.00

CFO/PFR Expense Adjustment (Option 2) (7,694.91)

Results of Operations - Surplus/(Deficit) 3,932.22 0.00

Water Deliveries

Class 1 3,488 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 3,488 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 3,488 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 3,488 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $3,932.22 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

BELLA VISTA WD - COW CREEK UNIT

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $250,227.04 $0.00 $250,227.04

O&M Expenses (202,622.18) 0.00 (202,622.18)

Subtotal 47,604.86 0.00 47,604.86

CFO/PFR Expense Adjustment (Option 2) (18,013.61) (18,013.61)

Results of Operations - Surplus/(Deficit) 29,591.26 0.00 29,591.26

Water Deliveries

Irrigation

Class 1 13,706 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 13,706 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

IRR Class 1 13,706 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 13,706 X 0.00 1/ 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $29,591.26 $0.00 $29,591.26

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

COUNTY OF FRESNO - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $50,615.46 $0.00 $50,615.46

O&M Expenses (31,781.15) 0.00 (31,781.15)

Subtotal 18,834.31 0.00 18,834.31

CFO/PFR Expense Adjustment (Option 2) (2,600.97) (2,600.97)

Results of Operations - Surplus/(Deficit) 16,233.33 0.00 16,233.33

Water Deliveries

Irrigation

Class 1 1,946 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 1,946 X 0.84 (1,634.64) (1,634.64)

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 1,946 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 1,946 X 5.63 (10,955.98) (10,955.98)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $3,642.71 $0.00 $3,642.71
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

HILLS VALLEY ID - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $85,748.88 $0.00

O&M Expenses ($58,989.48) $0.00

Subtotal 26,759.40 0.00

CFO/PFR Expense Adjustment (Option 2) (2,776.45)

Results of Operations - Surplus/(Deficit) 23,982.95 0.00

Water Deliveries

Class 1 3,612 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 3,612 X 0.07 (252.84)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 3,612 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 3,612 X 4.90 (17,698.80)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $6,031.31 $0.00
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

LOWER TULE RIVER ID - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $81,688.89 $0.00

O&M Expenses (102,447.67) 0.00

Subtotal (20,758.78) 0.00

Revenue Adjustment (from FKC - Class 1) 20,758.78 0.00

PFR Principal & Interest Adjustment (Option 1) 0.00 0.00

Results of Operations - Surplus/(Deficit) 0.00 0.00

Water Deliveries

Class 1 6,273 A/F

Class 2 N/A A/F

Interest Bearing A/F Rate

Class 1 6,273 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 6,273 X 5.29 (33,184.17)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($33,184.17) $0.00
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

PIXLEY ID - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $43,456.23 $0.00

O&M Expenses ($28,955.80) 0.00

Subtotal 14,500.43 0.00

PFR Principal & Interest Adjustment (Option 1) (3.40) 

Results of Operations - Surplus/(Deficit) 14,497.03 0.00

Water Deliveries

Class 1 1,773 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,773 X 0.32 (567.36)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 1,773 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 1,773 X 5.33 (9,450.09)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $4,479.58 $0.00
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

KERN TULARE WD - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $700,837.11 $0.00

O&M Expenses ($478,399.44) 0.00

Subtotal $222,437.67 0.00

PFR Principal & Interest Adjustment (Option 1) 0.00

Results of Operations - Surplus/(Deficit) $222,437.67 $0.00

Water Deliveries

Class 1 29,293 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 29,293 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 29,293 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 29,293 X 5.36 ($157,010.48)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $65,427.19 $0.00
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

RAG GULCH WD - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $255,507.17 $0.00

O&M Expenses ($174,306.40) 0.00

Subtotal $81,200.77 0.00

PFR Principal & Interest Adjustment (Option 1) 0.00

Results of Operations - Surplus/(Deficit) $81,200.77 $0.00

Water Deliveries

Class 1 10,673 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 10,673 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 10,673 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 10,673 X 5.40 (57,634.20)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $23,566.57 $0.00
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

TRI-VALLEY WD - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $1,569.92 $0.00

O&M Expenses ($1,045.22) 0.00

Subtotal $524.70 0.00

PFR Principal & Interest Adjustment (Option 1) $0.00

Results of Operations - Surplus/(Deficit) $524.70 $0.00

Water Deliveries

Class 1 64 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 64 X 0.47 ($30.08)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 64 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 64 X 5.15 ($329.60)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $165.02 $0.00
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

BANTA-CARBONA ID - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $503,181.17 $0.00 $503,181.17

O&M Expenses (254,037.04) 0.00 (254,037.04)

Subtotal 249,144.13 0.00 249,144.13

CFO/PFR Expense Adjustment (Option 2) (19,251.93) (19,251.93)

Results of Operations - Surplus/(Deficit) 229,892.21 0.00 229,892.21

Water Deliveries

Class 1 23,252 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 23,252 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 23,252 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 23,252 X 9.11 (211,825.72) (211,825.72)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $18,066.49 $0.00 $18,066.49
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

CENTINELLA WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $38,418.75 $0.00 $38,418.75

O&M Expenses (20,485.10) 0.00 (20,485.10)

Subtotal 17,933.65 0.00 17,933.65

PFR Principal & Interest Adjustment (Option 1) 39.07 39.07

Results of Operations - Surplus/(Deficit) 0.00 17,972.72 17,972.72

Water Deliveries

Class 1 1,875 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,875 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 1,875 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 1,875 X 8.64 (16,200.00) (16,200.00)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) 0.00 1,772.72 1,772.72
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

DEL PUERTO WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $2,163,552.16 $0.00 $2,163,552.16

O&M Expenses (1,083,437.59) 0.00 (1,083,437.59)

Subtotal 1,080,114.57 0.00 1,080,114.57

PFR Principal & Interest Adjustment (Option 1) 3,703.11 3,703.11

Results of Operatons - Surplus/(Deficit) 1,083,817.68 0.00 1,083,817.68

Water Deliveries

Irrigation

Class 1 99,167 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 99,167 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

IRR Class 1 99,167 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 99,167 X 10.45 (1,036,295.15) (1,036,295.15)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $47,522.53 $0.00 $47,522.53
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

EAGLE FIELD WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $86,655.55 $0.00 $86,655.55

O&M Expenses (44,499.09) 0.00 (44,499.09)

Subtotal 42,156.46 0.00 42,156.46

CFO/PFR Expense Adjustment (Option 2) (3,567.36) (3,567.36)

Results of Operatons - Surplus/(Deficit) 38,589.10 0.00 38,589.10

Water Deliveries

Class 1 4,073 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 4,073 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 4,073 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 4,073 X 9.60 (39,100.80) (39,100.80)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($511.70) $0.00 ($511.70)
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

MERCY SPRINGS WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $36,236.00 $0.00 $36,236.00

O&M Expenses (16,617.51) 0.00 (16,617.51)

Subtotal 19,618.49 0.00 19,618.49

PFR Principal & Interest Adjustment (Option 1) 268.32 268.32

Results of Operations - Surplus/(Deficit) 19,886.81 0.00 19,886.81

Water Deliveries

Class 1 1,521 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,521 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 1,521 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 1,521 X 12.95 (19,696.95) (19,696.95)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $189.86 $0.00 $189.86
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

ORO LOMA WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $80,826.85 $0.00 $80,826.85

O&M Expenses (40,653.36) 0.00 (40,653.36)

Subtotal 40,173.49 0.00 40,173.49

CFO/PFR Expense Adjustment (Option 2) (2,518.10) (2,518.10)

Results of Operations - Surplus/(Deficit) 37,655.40 0.00 37,655.40

Water Deliveries

Class 1 3,721 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 3,721 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 3,721 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 3,721 X 9.54 (35,498.34) (35,498.34)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $2,157.06 $0.00 $2,157.06
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

PATTERSON WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $247,667.01 $0.00 $247,667.01

O&M Expenses (108,827.75) 0.00 (108,827.75)

Subtotal 138,839.26 0.00 138,839.26

PFR Principal & Interest Adjustment (Option 1) 260.57 260.57 

Results of Operations - Surplus/(Deficit) 139,099.82 0.00 139,099.82

Water Deliveries

Class 1 9,961 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 9,961 X 2.68 (26,695.48) (26,695.48)

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 9,961 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 9,961 X 10.48 (104,391.28) (104,391.28)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $8,013.06 $0.00 $8,013.06
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

PLAIN VIEW WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $245,255.62 $0.00 $245,255.62

O&M Expenses (119,053.91) 0.00 ($119,053.91)

Subtotal 126,201.71 0.00 $126,201.71

CFO/PFR Expense Adjustment (Option 2) (16,427.96) (16,427.96)

Results of Operations - Surplus/(Deficit) 109,773.74 0.00 109,773.74

Water Deliveries

Irrigation

Class 1 10,897 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 10,897 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

IRR Class 1 10,897 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 10,897 X 10.49 (114,309.53) (114,309.53)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($4,535.79) $0.00 ($4,535.79)
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

WEST SIDE ID - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $116,298.60 $0.00 $116,298.60

O&M Expenses (58,844.12) 0.00 (58,844.12)

Subtotal 57,454.48 0.00 57,454.48

CFO/PFR Expense Adjustment (Option 2) (6,904.04) (6,904.04)

Results of Operations - Surplus/(Deficit) 50,550.44 0.00 50,550.44

Water Deliveries

Class 1 5,386 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 5,386 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 5,386 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 5,386 X 8.57 (46,158.02) (46,158.02)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $4,392.42 $0.00 $4,392.42
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

WEST STANISLAUS ID - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $856,150.76 $0.00 $856,150.76

O&M Expenses (418,999.41) 0.00 (418,999.41)

Subtotal 437,151.35 0.00 437,151.35

PFR Principal & Interest Adjustment (Option 1) 1,251.51 1,251.51

Results of Operations - Surplus/(Deficit) 438,402.85 0.00 438,402.85

Water Deliveries

Class 1 38,351 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 38,351 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 38,351 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 38,351 X 10.67 (409,205.17) (409,205.17)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $29,197.68 $0.00 $29,197.68
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

WIDREN WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $50,754.88 $0.00 $50,754.88

O&M Expenses (23,511.43) 0.00 (23,511.43)

Subtotal 27,243.45 0.00 27,243.45

CFO/PFR Expense Adjustment (Option 2) (2,536.28) (2,536.28)

Results of Operations - Surplus/(Deficit) 24,707.17 0.00 24,707.17

Water Deliveries

Class 1 2,152 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 2,152 X 1.47 (3,163.44) (3,163.44)

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 2,152 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 2,152 X 10.73 (23,090.96) (23,090.96)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($1,547.23) $0.00 ($1,547.23)
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

BROADVIEW WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $438,689.87 $0.00 $438,689.87

O&M Expenses (214,498.07) 0.00 (214,498.07)

Subtotal 224,191.80 0.00 224,191.80

CFO/PFR Expense Adjustment (Option 2) (23,854.51) (23,854.51)

Results of Operations - Surplus/(Deficit) 200,337.29 0.00 200,337.29

Water Deliveries

Irrigation

Class 1 19,633 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 19,633 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 19,633 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 19,633 X 9.76 (191,618.08) (191,618.08)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $8,719.21 $0.00 $8,719.21
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

LAGUNA WD - DM POOL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $12,012.00 $0.00

O&M Expenses (6,555.23) 0.00

Subtotal 5,456.77 0.00

PFR Principal & Interest Adjustment (Option 1) 11.20 

Results of Operations - Surplus/(Deficit) 5,467.97 0.00

Water Deliveries

Class 1 600 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 600 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 600 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 600 X 8.17 (4,902.00)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $565.97 $0.00
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

GRAVELLY FORD WD - FRIANT D & R - CLASS 2

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $0.00 $49,758.64

O&M Expenses 0.00 (42,918.33)

Subtotal 0.00 6,840.31

CFO/PFR Expense Adjustment (Option 2) (2,202.04)

Results of Operations - Surplus/(Deficit) 0.00 4,638.27

Water Deliveries

Class 1 N/A A/F

Class 2 8,018 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 N/A X 0.00 0.00

Class 2 8,018 X 0.00 0.00

Non-Interest Bearing 

Class 1 N/A X 0.00 0.00

Class 2 8,018 X 0.00 0.00

Less Capital Recovery

Class 1 N/A X 0.00 0.00

Class 2 8,018 X 0.00 0.00

NET OVER (UNDER) $0.00 $4,638.27

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

ARVIN-EDISON WSD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $623,544.44 $518,254.14 $1,141,798.58

O&M Expenses (427,204.38) (257,718.72) (684,923.10)

Subtotal 196,340.06 260,535.42 456,875.48

PFR Principal & Interest Adjustment (Option 1) (1,861.37) 0.00 (1,861.37)

Results of Operations - Surplus/(Deficit) $194,478.69 $260,535.42 $455,014.11

Water Deliveries

Irrigation

Class 1 39,102 A/F

Class 2 48,147 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 39,102 X 0.00 0.00 0.00

IRR Class 2 48,147 X 0.00 0.00 0.00

Non-Interest Bearing 

IRR Class 1 39,102 X 0.00 0.00 0.00

IRR Class 2 48,147 X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 39,102 X 9.74 (380,853.48) (380,853.48)

IRR Class 2 48,147 X 4.10 (197,402.70) (197,402.70)

NET OVER (UNDER) ($186,374.79) $63,132.72 ($123,242.07)

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

DELANO-EARLIMART ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $2,028,344.39 $319,696.04 $2,348,040.43

O&M Expenses (1,065,672.91) (163,767.30) (1,229,440.21)

Subtotal 962,671.48 155,928.74 1,118,600.22

PFR Principal & Interest Adjustment (Option 1) (5,000.87) 0.00 (5,000.87)

Results of Operations - Surplus/(Deficit) 957,670.61 155,928.74 1,113,599.35

Water Deliveries

Irrigation

Class 1 97,541 A/F

Class 2 30,595 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 97,541 X 0.00 0.00 0.00

IRR Class 2 30,595 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 97,541 X 0.00 0.00 0.00

Class 2 30,595 X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 97,541 X 9.05 (882,746.05) (882,746.05)

IRR Class 2 30,595 X 4.21 (128,804.95) (128,804.95)

NET CLASS 1 & CLASS 2 OVER (UNDER) $74,924.56 $27,123.79 $102,048.35

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

EXETER ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $222,671.64 $20,957.50 $243,629.14

O&M Expenses (118,398.39) (11,106.95) (129,505.34)

Subtotal 104,273.25 9,850.55 114,123.80

PFR Principal & Interest Adjustment (Option 1) (338.30) 0.00 (338.30)

Results of Operations - Surplus/(Deficit) 103,934.95 9,850.55 113,785.50

Water Deliveries

Class 1 10,837 A/F

Class 2 2,075 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 10,837 X 0.00 0.00 0.00

Class 2 2,075 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 10,837 X 0.00 0.00 0.00

Class 2 2,075 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 10,837 X 8.97 (97,207.89) (97,207.89)

Class 2 2,075 X 3.82 (7,926.50) (7,926.50)

NET CLASS 1 & CLASS 2 OVER (UNDER) $6,727.06 $1,924.05 $8,651.11

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

GARFIELD WD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $89,068.30 $0.00 $89,068.30

O&M Expenses (37,288.34) 0.00 (37,288.34)

Subtotal 51,779.96 0.00 51,779.96

PFR Principal & Interest Adjustment (Option 1) (120.63) (120.63)

Results of Operations - Surplus/(Deficit) 51,659.34 0.00 51,659.34

Water Deliveries

Class 1 3,413 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 3,413 X 3.59 (12,252.67) (12,252.67)

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 3,413 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 3,413 X 10.98 (37,474.74) (37,474.74)

Class 2 N/A X 0.00 0.00 0.00

NET CLASS 1 & CLASS 2 OVER (UNDER) 1,931.93 0.00 1,931.93

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

INTERNATIONAL WD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $27,813.17 $0.00 $27,813.17

O&M Expenses (13,940.79) 0.00 (13,940.79)

Subtotal 13,872.38 0.00 13,872.38

CFO/PFR Expense Adjustment (Option 2) (982.73) (982.73) 

Results of Operations - Surplus/(Deficit) 12,889.65 0.00 12,889.65

Water Deliveries

Class 1 1,276 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,276 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 1,276 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 1,276 X 9.56 (12,198.56) (12,198.56)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $691.09 $0.00 $691.09

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

IVANHOE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $163,589.92 $43,357.26 $206,947.18

O&M Expenses (86,649.22) (22,358.43) (109,007.65)

Subtotal 76,940.70 20,998.83 97,939.53

PFR Principal & Interest Adjustment (Option 1) (189.29) 0.00 (189.29)

Results of Operations - Surplus/(Deficit) 76,751.40 20,998.83 97,750.24

Water Deliveries

Class 1 7,931 A/F

Class 2 4,177 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 7,931 X 0.00 0.00 0.00

Class 2 4,177 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 7,931 X 0.00 0.00 0.00

Class 2 4,177 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 7,931 X 9.11 (72,251.41) (72,251.41)

Class 2 4,177 X 4.10 (17,125.70) (17,125.70)

NET OVER (UNDER) $4,499.99 $3,873.13 $8,373.13

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

LINDMORE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $666,952.55 $57,006.80 $723,959.35

O&M Expenses (353,053.79) (29,333.05) (382,386.85)

Subtotal 313,898.76 27,673.75 341,572.50

PFR Principal & Interest Adjustment (Option 1) (909.26) 0.00 (909.26)

Results of Operations - Surplus/(Deficit) 312,989.49 27,673.75 340,663.24

Water Deliveries

Class 1 32,315 A/F

Class 2 5,480 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 32,315 X 0.00 0.00 0.00

Class 2 5,480 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 32,315 X 0.00 0.00 0.00

Class 2 5,480 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 32,315 X 9.01 (291,158.15) (291,158.15)

Class 2 5,480 X 4.13 (22,632.40) (22,632.40)

NET OVER (UNDER) $21,831.34 $5,041.35 $26,872.69

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

ORANGE COVE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $720,835.13 $0.00 $720,835.13

O&M Expenses (382,814.54) 0.00 (382,814.54)

Subtotal 338,020.59 0.00 338,020.59

PFR Principal & Interest Adjustment (Option 1) (790.69) (790.69)

Results of Operations - Surplus/(Deficit) 337,229.90 0.00 337,229.90

Water Deliveries

Class 1 35,039 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 35,039 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 35,039 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 35,039 X 9.17 (321,307.63) (321,307.63)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $15,922.27 $0.00 $15,922.27

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

PORTERVILLE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $359,160.99 $115,389.12 $474,550.11

O&M Expenses (182,628.72) (57,295.81) (239,924.53)

Subtotal 176,532.27 58,093.31 234,625.58

PFR Principal & Interest Adjustment (Option 1) (689.77) 0.00 (689.77)

Results of Operations - Surplus/(Deficit) 175,842.50 58,093.31 233,935.81

Water Deliveries

Class 1 16,716 A/F

Class 2 10,704 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 16,716 X 0.00 0.00 0.00

Class 2 10,704 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 16,716 X 0.00 0.00 0.00

Class 2 10,704 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 16,716 X 9.74 (162,813.84) (162,813.84)

Class 2 10,704 X 4.50 (48,168.00) (48,168.00)

NET OVER (UNDER) $13,028.66 $9,925.31 $22,953.97

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

SAUCELITO ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $449,464.26 $97,862.26 $547,326.52

O&M Expenses (236,545.50) (50,835.04) (287,380.54)

Subtotal 212,918.76 47,027.22 259,945.98

PFR Principal & Interest Adjustment (Option 1) (452.63) 0.00 (452.63)

Results of Operations - Surplus/(Deficit) 212,466.13 47,027.22 259,493.35

Water Deliveries

Class 1 21,651 A/F

Class 2 9,497 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 21,651 X 0.00 0.00 0.00

Class 2 9,497 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 21,651 X 0.00 0.00 0.00

Class 2 9,497 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 21,651 X 9.29 (201,137.79) (201,137.79)

Class 2 9,497 X 4.06 (38,557.82) (38,557.82)

NET OVER (UNDER) $11,328.34 $8,469.40 $19,797.74

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

SHAFTER-WASCO ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $953,479.04 $160,734.16 $1,114,213.20

O&M Expenses (477,646.88) (80,521.38) (558,168.25)

Subtotal 475,832.16 80,212.78 556,044.95

PFR Principal & Interest Adjustment (Option 1) (1,828.20) 0.00 (1,828.20)

Results of Operations - Surplus/(Deficit) 474,003.96 80,212.78 554,216.75

Water Deliveries

Class 1 43,719 A/F

Class 2 15,043 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 43,719 X 0.00 0.00 0.00

IRR Class 2 15,043 X 0.00 0.00 0.00

Non-Interest Bearing 

IRR Class 1 43,719 X 0.00 0.00 0.00

IRR Class 2 15,043 X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 43,719 X 10.39 (454,240.41) (454,240.41)

IRR Class 2 15,043 X 4.43 (66,640.49) (66,640.49)

NET OVER (UNDER) $19,763.55 $13,572.29 $33,335.85

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

SO SAN JOAQUIN MUD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $2,115,868.32 $228,449.80 $2,344,318.12

O&M Expenses (1,088,616.22) (115,415.94) (1,204,032.16)

Subtotal 1,027,252.10 113,033.86 1,140,285.96

PFR Principal & Interest Adjustment (Option 1) (3,172.25) 0.00 (3,172.25)

Results of Operations - Surplus/(Deficit) 1,024,079.85 113,033.86 1,137,113.71

Water Deliveries

Class 1 99,641 A/F

Class 2 21,562 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 99,641 X 0.00 0.00 0.00

Class 2 21,562 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 99,641 X 0.00 0.00 0.00

Class 2 21,562 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 99,641 X 9.60 (956,553.60) (956,553.60)

Class 2 21,562 X 4.32 (93,147.84) (93,147.84)

NET OVER (UNDER) $67,526.25 $19,886.02 $87,412.27

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

STONE CORRAL ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $239,234.08 $0.00 $239,234.08

O&M Expenses (126,384.85) 0.00 (126,384.85)

Subtotal 112,849.23 0.00 112,849.23

PFR Principal & Interest Adjustment (Option 1) (61.58) 0.00 (61.58) 

Results of Operations - Surplus/(Deficit) 0.00 112,787.66 112,787.66

Water Deliveries

Class 1 11,568 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 11,568 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 11,568 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 11,568 X 9.11 (105,384.48) (105,384.48)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $7,403.18 $0.00 $7,403.18

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

TEA POT DOME WD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $132,131.12 $0.00 $132,131.12

O&M Expenses (68,436.61) 0.00 (68,436.61)

Subtotal 63,694.51 0.00 63,694.51

PFR Principal & Interest Adjustment (Option 1) (166.83) (166.83)

Results of Operations - Surplus/(Deficit) 63,527.69 0.00 63,527.69

Water Deliveries

Class 1 6,264 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 6,264 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 6,264 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 6,264 X 9.48 (59,382.72) (59,382.72)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $4,144.97 $0.00 $4,144.97

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

TERRA BELLA ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $531,716.04 $0.00 $531,716.04

O&M Expenses (276,641.66) 0.00 (276,641.66)

Subtotal 255,074.38 0.00 255,074.38

PFR Principal & Interest Adjustment (Option 1) (538.24) 0.00 (538.24)

Results of Operations - Surplus/(Deficit) 254,536.14 0.00 254,536.14

Water Deliveries

Irrigation

Class 1 25,321 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 25,321 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

IRR Class 1 25,321 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 25,321 X 9.31 (235,738.51) (235,738.51)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $18,797.63 $0.00 $18,797.63

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

TULARE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $646,223.55 $409,728.56 $1,055,952.11

O&M Expenses (342,335.99) (215,212.55) (557,548.55)

Subtotal 303,887.56 194,516.01 498,403.56

PFR Principal & Interest Adjustment (Option 1) (1,439.86) 0.00 (1,439.86)

Results of Operations - Surplus/(Deficit) 302,447.70 194,516.01 496,963.71

Water Deliveries

Class 1 31,334 A/F

Class 2 40,206 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 31,334 X 0.00 0.00 0.00

Class 2 40,206 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 31,334 X 0.00 0.00 0.00

Class 2 40,206 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 31,334 X 8.85 (277,305.90) (277,305.90)

Class 2 40,206 X 3.93 (158,009.58) (158,009.58)

NET OVER (UNDER) $25,141.80 $36,506.43 $61,648.23

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

LINDSAY-STRATHMORE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $553,532.10 $0.00 $553,532.10

O&M Expenses (286,103.04) 0.00 (286,103.04)

Subtotal 267,429.06 0.00 267,429.06

PFR Principal & Interest Adjustment (Option 1) (939.82) (939.82)

Results of Operations - Surplus/(Deficit) 266,489.24 0.00 266,489.24

Water Deliveries

Irrigation

Class 1 26,187 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 26,187 X 0.00 0.00 $0.00

IRR Class 2 N/A X 0.00 0.00 $0.00

Non-Interest Bearing 

Class 1 26,187 X 0.00 0.00 $0.00

Class 2 N/A X 0.00 0.00 $0.00

Less Capital Recovery

IRR Class 1 26,187 X 9.57 (250,609.59) ($250,609.59)

IRR Class 2 N/A X 0.00 0.00 $0.00

NET OVER (UNDER) $15,879.65 $0.00 $15,879.65

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

LOWER TULE RIVER ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $891,953.40 $629,690.50 $1,521,643.90

O&M Expenses (469,409.14) (327,240.20) (796,649.34)

Subtotal 422,544.26 302,450.30 724,994.56

Revenue Adjustment (to Cross Valley Canal) (20,758.78) 0.00 (20,758.78)

PFR Principal & Interest Adjustment (Option 1) (2,558.55) 0.00 (2,558.55)

Results of Operations - Surplus/(Deficit) 399,226.94 302,450.30 701,677.24

Water Deliveries

Class 1 42,965 A/F

Class 2 61,135 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 42,965 X 0.00 0.00 0.00

Class 2 61,135 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 42,965 X 0.00 0.00 0.00

Class 2 61,135 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 42,965 X 8.91 (382,818.15) (382,818.15)

Class 2 61,135 X 4.02 (245,762.70) (245,762.70)

NET OVER (UNDER) $16,408.79 $56,687.60 $73,096.39

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

FRESNO ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $0.00 $48,357.15 $48,357.15

O&M Expenses 0.00 (20,790.07) (20,790.07)

Subtotal 0.00 27,567.08 27,567.08

CFO/PFR Expense Adjustment (Option 2) * (0.00) (15,712.57) (15,712.57)

Results of Operations - Surplus/(Deficit) (0.00) 11,854.51 11,854.51

Water Deliveries

Class 1 0 A/F

Class 2 3,884 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 0 X 0.00 0.00 0.00

Class 2 3,884 X 0.84 (3,262.56) (3,262.56)

Non-Interest Bearing 

Class 1 0 X 0.00 0.00 0.00

Class 2 3,884 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 0 X 0.00 0.00 0.00

Class 2 3,884 X 4.21 (16,351.64) (16,351.64)

NET OVER (UNDER) ($0.00) ($7,759.69) ($7,759.69)

* Includes Class 1 costs moved to Class 2. Contractor is no longer a Class 1 contractor.

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

MADERA ID - HIDDEN UNIT

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $382,320.00 $0.00 $382,320.00

O&M Expenses (262,209.22) 0.00 (262,209.22)

Subtotal 120,110.78 0.00 120,110.78

PFR Principal & Interest Adjustment (Option 1) 1,403.04 1,403.04

Results of Operations - Surplus/(Deficit) 121,513.82 0.00 121,513.82

Water Deliveries

Class 1 24,000 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 24,000 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 24,000 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 24,000 X 4.08 (97,920.00) (97,920.00)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) $23,593.82 $0.00 $23,593.82

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

CHOWCHILLA WD - MADERA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $1,176,347.38 $359,421.56 $1,535,768.94

O&M Expenses (595,553.63) (180,987.09) (776,540.71)

Subtotal 580,793.75 178,434.47 759,228.23

PFR Principal & Interest Adjustment (Option 1) (2,533.52) 0.00 (2,533.52)

Results of Operations - Surplus/(Deficit) 578,260.24 178,434.47 756,694.71

Water Deliveries

Class 1 54,511 A/F

Class 2 33,812 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 54,511 X 0.00 0.00 0.00

Class 2 33,812 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 54,511 X 0.00 0.00 0.00

Class 2 33,812 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 54,511 X 9.73 (530,392.03) (530,392.03)

Class 2 33,812 X 4.35 (147,082.20) (147,082.20)

NET OVER (UNDER) $47,868.21 $31,352.27 $79,220.48

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

MADERA ID - MADERA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $1,500,322.28 $474,225.80 $1,974,548.08

O&M Expenses (762,821.26) (238,796.76) (1,001,618.02)

Subtotal 737,501.02 235,429.04 972,930.06

PFR Principal & Interest Adjustment (Option 1) (4,081.53) 0.00 (4,081.53)

Results of Operations - Surplus/(Deficit) 733,419.49 235,429.04 968,848.53

Water Deliveries

Class 1 69,821 A/F

Class 2 44,612 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 69,821 X 0.00 0.00 0.00

Class 2 44,612 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 69,821 X 0.00 0.00 0.00

Class 2 44,612 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 69,821 X 9.70 (677,263.70) (677,263.70)

Class 2 44,612 X 4.38 (195,400.56) (195,400.56)

NET OVER (UNDER) $56,155.79 $40,028.48 $96,184.27

In accordance with your Long-Term Renewal contract, results of analysis of more than $1,000.00

can be refunded.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

FEATHER WD - SACRAMENTO RIVER/WILLOWS

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $146,318.98 $0.00

O&M Expenses ($91,926.18) 0.00

Subtotal 54,392.80 0.00

CFO/PFR Expense Adjustment (Option 2) (15,928.33) 0.00

Results of Operations - Surplus/(Deficit) 38,464.46 0.00

Water Deliveries

Class 1 8,414 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 8,414 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 8,414 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 8,414 X 3.70 (31,131.80)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $7,332.66 $0.00
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

EL DORADO ID - SLY PARK D & R

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $0.00 $0.00 $0.00

O&M Expenses $0.00 0.00 $0.00

Subtotal 1/ 0.00 0.00 0.00

PFR Principal & Interest Adjustment (Option 1) 0.00 0.00

Results of Operations - Surplus/(Deficit) 0.00 0.00 0.00

Water Deliveries

Irrigation

Class 1 0 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 0 X 0.00 0.00 $0.00

IRR Class 2 N/A X 0.00 0.00 $0.00

Non-Interest Bearing 

Class 1 0 X 0.00 0.00 $0.00

Class 2 N/A X 0.00 0.00 $0.00

Less Capital Recovery

IRR Class 1 0 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 $0.00

0.00

NET OVER (UNDER) 1/ $0.00 $0.00 $0.00

1/ Contractor removed from Schedules B-2 and B-1 due to title transfer.
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

COLUSA COUNTY WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

(IRRIGATION CONTRACTOR)

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $698,484.26 $0.00

O&M Expenses ($538,392.43) 0.00

Subtotal 160,091.83 0.00

CFO/PFR Expense Adjustment (Option 2) (69,012.25)

Results of Operations - Surplus/(Deficit) 91,079.58 0.00

Water Deliveries

Irrigation

Class 1 38,488 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 38,488 X 1.16 (44,646.08)

IRR Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

IRR Class 1 38,488 X 0.00 0.00

IRR Class 2 N/A X 0.00 0.00

Less Capital Recovery

IRR Class 1 38,488 X 0.00 1/ 0.00

IRR Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * $46,433.50 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

DAVIS WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $34,515.36 $0.00

O&M Expenses ($21,916.32) 0.00

Subtotal 12,599.04 0.00

CFO/PFR Expense Adjustment (Option 2) (4,880.48)

Results of Operations - Surplus/(Deficit) 7,718.56 0.00

Water Deliveries

Class 1 2,006 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 2,006 X 2.87 (5,757.22)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 2,006 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 2,006 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * $1,961.34 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

DUNNIGAN WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $192,220.65 $0.00

O&M Expenses ($151,916.17) 0.00

Subtotal 40,304.48 0.00

CFO/PFR Expense Adjustment (Option 2) (16,648.42)

Results of Operations - Surplus/(Deficit) 23,656.06 0.00

Water Deliveries

Class 1 13,806 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 13,806 X 1.01 (13,944.06)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 13,806 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 13,806 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $9,712.00 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

GLIDE WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $141,015.00 $0.00

O&M Expenses ($114,716.54) 0.00

Subtotal 26,298.46 0.00

CFO/PFR Expense Adjustment (Option 2) (12,386.89)

Results of Operations - Surplus/(Deficit) 13,911.57 0.00

Water Deliveries

Class 1 10,500 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 10,500 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 10,500 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 10,500 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $13,911.57 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

KANAWHA WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Class 1 Class 2

Water Revenues $385,627.20 $0.00

O&M Expenses ($319,361.68) 0.00

Subtotal 66,265.52 0.00

CFO/PFR Expense Adjustment (Option 2) (44,785.63)

Results of Operations - Surplus/(Deficit) 21,479.90 0.00

Water Deliveries

Class 1 27,984 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 27,984 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 27,984 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 27,984 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $21,479.90 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

LA GRANDE WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $83,826.54 $0.00

O&M Expenses ($63,028.54) 0.00

Subtotal 20,798.00 0.00

CFO/PFR Expense Adjustment (Option 2) (7,125.06)

Results of Operations - Surplus/(Deficit) 13,672.94 0.00

Water Deliveries

Class 1 5,769 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 5,769 X 1.28 (7,384.32)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 5,769 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 5,769 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $6,288.62 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

ORLAND-ARTOIS WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $679,804.18 $0.00

O&M Expenses ($525,557.10) 0.00

Subtotal 154,247.08 0.00

CFO/PFR Expense Adjustment (Option 2) (72,152.10)

Results of Operations - Surplus/(Deficit) 82,094.97 0.00

Water Deliveries

Class 1 45,533 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 45,533 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 45,533 X 0.10 (4,553.30)

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 45,533 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * $77,541.67 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

WESTSIDE WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $656,356.26 $0.00

O&M Expenses ($516,060.25) 0.00

Subtotal 140,296.01 0.00

CFO/PFR Expense Adjustment (Option 2) (50,089.27)

Results of Operations - Surplus/(Deficit) 90,206.74 0.00

Water Deliveries

Class 1 46,313 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 46,313 X 1.17 (54,186.21)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 46,313 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 46,313 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * $36,020.53 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

4-M WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $21,919.67 $0.00

O&M Expenses ($18,070.59) 0.00

Subtotal 3,849.08 0.00

CFO/PFR Expense Adjustment (Option 2) (3,324.20)

Results of Operations - Surplus/(Deficit) 524.88 0.00

Water Deliveries

Class 1 1,654 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,654 X 0.14 (231.56)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 1,654 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 1,654 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $293.32 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

CORTINA WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $13,831.31 $0.00

O&M Expenses ($9,963.95) 0.00

Subtotal 3,867.36 0.00

CFO/PFR Expense Adjustment (Option 2) (1,840.75)

Results of Operations - Surplus/(Deficit) 2,026.61 0.00

Water Deliveries

Class 1 912 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 912 X 1.64 (1,495.68)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 912 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 912 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $530.93 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

HOLTHOUSE WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $28,735.30 $0.00

O&M Expenses ($23,107.19) 0.00

Subtotal 5,628.11 0.00

CFO/PFR Expense Adjustment (Option 2) (2,469.36)

Results of Operations - Surplus/(Deficit) 3,158.75 0.00

Water Deliveries

Class 1 2,115 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 2,115 X 0.52 (1,099.80)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 2,115 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 2,115 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) $2,058.95 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

KIRKWOOD WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $5,381.27 $0.00

O&M Expenses ($4,293.68) 0.00

Subtotal 1,087.59 0.00

CFO/PFR Expense Adjustment (Option 2) (970.27)

Results of Operations - Surplus/(Deficit) 117.32 0.00

Water Deliveries

Class 1 393 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 393 X 0.79 (310.47)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 393 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 393 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($193.15) $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2003 Refund Provision Analysis.Z07.XLS

07/30/2004

CENTRAL VALLEY PROJECT

MYERS-MARSH MWC - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

IRRIGATION CONTRACTOR

Irrigation

Results of Operations Class 1 Class 2

Water Revenues $5,115.30 $0.00

O&M Expenses ($2,785.97) 0.00

Subtotal 2,329.33 0.00

CFO/PFR Expense Adjustment (Option 2) (330.62)

Results of Operations - Surplus/(Deficit) 1,998.71 0.00

Water Deliveries

Class 1 255 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 255 X 5.89 (1,501.95)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 255 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 255 X 0.00 1/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * $496.76 $0.00

1/ Capital rate is zero as a result of the payment capacity analysis. 
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

DEL PUERTO WD - DELTA MENDOTA CANAL

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $372.33

O&M Expenses (166.54)

Interest (60.91)

Subtotal 144.88

Results of Operations - Surplus (Deficit) 1/ 144.88

A/F Rate

Less Deficit Recovery 14 $0.00 0.00

Less Capital Recovery 14 19.23 (269.22)

NET OVER (UNDER) ($124.34)

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

PLAIN VIEW WD - DELTA MENDOTA CANAL

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $33,610.12

O&M Expenses (16,384.72)

Interest (1,080.11)

Subtotal 16,145.29

CFO/PFR Expense Adjustment (Option 2) (458.05)

Results of Operations - Surplus (Deficit) 1/ 15,687.24

A/F Rate

Less Deficit Recovery 1,279 0.00

Less Capital Recovery 1,279 15.28 (19,543.12)

NET OVER (UNDER) ($3,855.88)

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

SAN JUAN WD - FOLSOM D&R

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $110,214.65

O&M Expenses (82,602.55)

Interest 0.00

Subtotal 27,612.10

CFO/PFR Expense Adjustment (Option 2) (24,465.28)

Results of Operations - Surplus (Deficit) 1/ 3,146.82

A/F Rate

Less Deficit Recovery 6,448 $0.00 0.00

Less Capital Recovery 6,448 5.95 (38,365.60)

NET OVER (UNDER) ($35,218.78)

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

FRESNO COUNTY WW # 18 - FRIANT DAM

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $2,145.00

O&M Expenses (1,831.91)

Interest 0.00

Subtotal 313.09

CFO/PFR Expense Adjustment (Option 2) (183.80)

Results of Operations - Surplus (Deficit) 1/ 129.29

A/F Rate

Less Deficit Recovery 143 $0.00 0.00

Less Capital Recovery 143 0.00 0.00

NET OVER (UNDER) $129.29

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

Note: In accordance with your Long Term Renewal contract, results of 

analysis of more than $1,000.00 can be refunded.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

CITY OF ORANGE COVE - FRIANT-KERN CANAL

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $80,689.50

O&M Expenses (20,266.32)

Interest (18,432.06)

Subtotal 41,991.12

CFO/PFR Expense Adjustment (Option 2) 1/ 6,898.94

Results of Operations - Surplus (Deficit) 2/ 48,890.06

A/F Rate

Less Deficit Recovery 1,582 $21.28 (33,664.96)

Less Capital Recovery 1,582 18.97 (30,010.54)

SUB TOTAL OVER (UNDER) (14,785.44)

NET OVER (UNDER) ($14,785.44)

1/ A credit of $ 6,898.94 was included due to an additional PFR adjustment calculated 

in the Fiscal Year 2002 accountings. There will be no CFO/PFR adjustment in the

Fiscal Years 2004 through 2007 accountings.

CFO Adjustment in the 2001 accountings 12,734.06 

PFR Adjustment in the 2001 accountings (3,188.39) 

PFR Adjustment in the 2002 accountings (16,444.61) 

 Net (6,898.94) 

2/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

Note: In accordance with your Long Term Renewal contract, results of 

analysis of more than $1,000.00 can be refunded.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

DELANO EARLIMART ID - FRIANT-KERN CANAL

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $3,969.13

O&M Expenses (1,921.59)

Interest (1,084.23)

Subtotal 963.31

Results of Operations - Surplus (Deficit) 1/ 963.31

A/F Rate

Less Deficit Recovery 150 $0.00 0.00

Less Capital Recovery 150 17.17 (2,575.50)

NET OVER (UNDER) ($1,612.19)

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

Note: In accordance with your Long Term Renewal contract, results of 

analysis of more than $1,000.00 can be refunded.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

LINDSAY-STRATHMORE ID - FRIANT-KERN CANAL

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $10,179.04

O&M Expenses (4,586.18)

Interest (1,065.72)

Subtotal 4,527.14

Results of Operations - Surplus (Deficit) 1/ 4,527.14

A/F Rate

Less Deficit Recovery 358 $0.00 0.00

Less Capital Recovery 358 18.70 (6,694.60)

NET OVER (UNDER) ($2,167.46)

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

Note: In accordance with your Long Term Renewal contract, results of 

analysis of more than $1,000.00 can be refunded.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

SHAFTER-WASCO - FRIANT-KERN CANAL

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $14,324.55

O&M Expenses (6,161.88)

Interest (3,959.90)

Subtotal 4,202.77

Results of Operations - Surplus (Deficit) 1/ 4,202.77

A/F Rate

Less Deficit Recovery 481 $0.00 0.00

Less Capital Recovery 481 20.39 (9,807.59)

NET OVER (UNDER) ($5,604.82)

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

Note: In accordance with your Long Term Renewal contract, results of 

analysis of more than $1,000.00 can be refunded.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

BROADVIEW WD - SAN LUIS CANAL - TRACY

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $1,114.24

O&M Expenses (358.70)

Interest (163.22)

Subtotal 592.33

CFO/PFR Expense Adjustment (Option 2) (52.26)

Results of Operations - Surplus (Deficit) 1/ 540.07

A/F Rate

Less Deficit Recovery 28 $1.43 (40.04)

Less Capital Recovery 28 26.64 (745.92)

NET OVER (UNDER) ($245.89)

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

COLUSA COUNTY WD - TEHAMA-COLUSA CANAL

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $3,255.20

O&M Expenses (1,447.59)

Interest (717.45)

Subtotal 1,090.15

CFO/PFR Expense Adjustment (Option 2) (52.48)

Results of Operations - Surplus (Deficit) 1/ 1,037.68

A/F Rate

Less Deficit Recovery 113 $0.46 (51.98)

Less Capital Recovery 113 14.88 (1,681.44)

NET OVER (UNDER) ($695.74)

1/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

7/30/2004
2003 M&I Refund Provision Analysis.Z07.xls

CENTRAL VALLEY PROJECT

CITY OF SHASTA LAKE - TOYON PIPELINE

M&I REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2003

Results of Operations

Water Revenues $62,564.24

O&M Expenses (32,282.63)

Interest 0.00

Subtotal 30,281.61

CFO/PFR Expense Adjustment (Option 2) 1/ 40,217.75

Results of Operations - Surplus (Deficit) 2/ 70,499.36

A/F Rate

Less Deficit Recovery 2,520 $0.00 0.00

Less Capital Recovery 2,520 7.43 (18,723.60)

NET OVER (UNDER) $51,775.76

1/ A credit of $ 40,217.75 was included due to an additional PFR adjustment calculated 

in the Fiscal Year 2002 accountings. There will be no CFO/PFR adjustment in the

Fiscal Years 2004 through 2007 accountings.

CFO Adjustment in the 2001 accountings 30,826.25 

PFR Adjustment in the 2001 accountings (4,257.29) 

PFR Adjustment in the 2002 accountings (66,786.71) 

 Net (40,217.75) 

2/ Included in the accounting is an adjustment to remove facility costs and associated

interest impacts applicable to Sugar Pine and Sly Park Dams & Reservoirs. The

legislative adjustment covers the periods 1949 - 2002.

7/30/2004