IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

CHOWCHILLA WD - BUCHANAN UNIT

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $341,520.00 $0.00

O&M Expenses (268,227.89) 0.00

Subtotal 73,292.11 0.00

CFO & PFR Principal Adjustment - 

PFR Interest Adjustment 240.31 

Results of Operations - Surplus/(Deficit) 0.00 73,532.42

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 3.70 (88,800.00)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) - (15,267.58) 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

CLEAR CREEK CSD - CLR CRK UNIT

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $39,777.90 $0.00 $39,777.90

O&M Expenses (41,742.97) 0.00 ($41,742.97)

Subtotal (1,965.07) 0.00 (1,965.07)

PFR Interest Adjustment 108.30 $108.30

PFR Principal Adjustment to FY 01 $0.00

Results of Operations - Surplus/(Deficit) 1/ (1,856.77) 0.00 (1,856.77)

Water Deliveries

Irrigation

Class 1 3,735 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 3,735 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 3,735 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 3,735 X 0.00 2/ 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($1,856.77) $0.00 ($1,856.77)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Irrigation capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

CORNING WD - CORNING CANAL

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $131,882.82 $0.00

O&M Expenses (152,028.71) 0.00

Subtotal (20,145.89) 0.00

CFO/PFR Principal Adjustment 0.00

PFR Interest Adjustment 4,406.22

Results of Operations - Surplus/(Deficit) 1/ (15,739.67) 0.00

Water Deliveries

Class 1 9,908 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 9,908 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 9,908 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 9,908 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * ($15,739.67) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

PROBERTA WD - CORNING CANAL

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $27,486.72 $0.00

O&M Expenses (32,134.11) 0.00

Subtotal (4,647.39) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 982.16

Results of Operations - Surplus/(Deficit) 1/ (3,665.24) 0.00

Water Deliveries

Class 1 2,441 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 2,441 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 2,441 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 2,441 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * ($3,665.24) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

THOMES CREEK WD - CORNING CANAL

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $43,296.51 $0.00

O&M Expenses (50,128.45) 0.00

Subtotal (6,831.94) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 1,420.47

Results of Operations - Surplus/(Deficit) 1/ (5,411.47) 0.00

Water Deliveries

Class 1 4,098 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 4,098 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 4,098 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 4,098 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) 2/ ($5,411.47) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

BELLA VISTA WD - COW CREEK UNIT

REFUND PROVISION ANALYSIS 

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $177,046.20 $0.00 $177,046.20

O&M Expenses (182,764.16) 0.00 (182,764.16)

Subtotal (5,717.96) 0.00 (5,717.96)

PFR Interest Adjustment 661.05 661.05

PFR Principal Adjustment to FY 01 0.00

Results of Operations - Surplus/(Deficit) 1/ (5,056.92) 0.00 (5,056.92)

Water Deliveries

Irrigation

Class 1 11,354 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 11,354 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 11,354 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 11,354 X 0.00 2/ 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($5,056.92) $0.00 ($5,056.92)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

COUNTY OF FRESNO - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $1,880.94 $0.00 $1,880.94

O&M Expenses (4,733.22) 0.00 ($4,733.22)

Subtotal ($2,852.28) $0.00 ($2,852.28)

PFR Interest Adjustment $642.27 $642.27

PFR Principal Adjustment to FY 01 $0.00

Results of Operations - Surplus/(Deficit) 1/ ($2,210.01) $0.00 ($2,210.01)

Water Deliveries

Irrigation

Class 1 87 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 87 X 1.19 (103.53) (103.53)

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 87 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 87 X 5.55 (482.85) (482.85)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($2,796.39) $0.00 ($2,796.39)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

COUNTY OF TULARE - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $114,783.47 $0.00 $114,783.47

O&M Expenses (78,086.56) 0.00 ($78,086.56)

Subtotal $36,696.91 $0.00 $36,696.91

PFR Interest Adjustment 445.99 $445.99

PFR Principal Adjustment to FY 01 $0.00

Results of Operations - Surplus/(Deficit) 1/ $37,142.90 $0.00 $37,142.90

Water Deliveries

Irrigation

Class 1 4,138 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 4,138 X 3.38 (13,986.44) (13,986.44)

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 4,138 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 4,138 X 5.28 (21,848.64) (21,848.64)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) * $1,307.82 $0.00 $1,307.82

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

* ACH Vendor / Miscellaneous Payment Enrollment Form attached.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

HILLS VALLEY ID - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $1,792.56 $0.00

O&M Expenses ($5,202.30) $0.00

Subtotal (3,409.74) 0.00

PFR Interest Adjustment 0.81

Results of Operations - Surplus/(Deficit) 1/ (3,408.93) 0.00

Water Deliveries

Class 1 97 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 97 X 0.18 (17.46)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 97 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 97 X 4.86 (471.42)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($3,897.81) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

LOWER TULE RIVER ID - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $600,569.32 $0.00

O&M Expenses ($493,713.76) $0.00

Subtotal 106,855.56 0.00

PFR Interest Adjustment 10,041.59 

Results of Operations - Surplus/(Deficit) 116,897.15 0.00

Water Deliveries

Class 1 26,024 A/F

Class 2 N/A A/F

Interest Bearing A/F Rate

Class 1 26,024 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 26,024 X 5.18 (134,804.32)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($17,907.17) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

PIXLEY ID - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $527,553.24 $0.00

O&M Expenses ($418,078.87) 0.00

Subtotal 109,474.37 0.00

CFO/PFR Principal Adjustment - 

PFR Interest Adjustment 90.65 

Results of Operations - Surplus/(Deficit) 109,565.02 0.00

Water Deliveries

Class 1 21,524 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 21,524 X 0.36 (7,748.64)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 21,524 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 21,524 X 5.17 (111,279.08)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($9,462.70) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

KERN TULARE WD - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $161,740.36 $0.00

O&M Expenses ($183,697.11) 0.00

Subtotal ($21,956.75) 0.00

CFO/PFR Principal Adjustment - 

PFR Interest Adjustment 167.53 

Results of Operations - Surplus/(Deficit) ($21,789.22) $0.00

Water Deliveries

Class 1 8,048 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 8,048 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 8,048 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 8,048 X 5.25 ($42,252.00)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($64,041.22) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

RAG GULCH WD - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $0.00 $0.00

O&M Expenses ($14,457.62) 0.00

Subtotal ($14,457.62) 0.00

CFO/PFR Principal Adjustment (22,204.52)

PFR Interest Adjustment 489.15

Results of Operations - Surplus/(Deficit) ($36,172.99) $0.00

Water Deliveries

Class 1 0 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 0 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 0 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 0 X 5.26 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($36,172.99) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

TRI-VALLEY WD - CROSS VALLEY CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $20,012.30 $0.00

O&M Expenses ($15,823.15) 0.00

Subtotal $4,189.15 0.00

CFO/PFR Principal Adjustment ($1,618.52)

PFR Interest Adjustment $10.06

Results of Operations - Surplus/(Deficit) $2,580.69 $0.00

Water Deliveries

Class 1 823 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 823 X 0.45 ($370.35)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 823 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 823 X 5.09 ($4,189.07)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($1,978.73) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

LAGUNA WD - DM POOL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $11,526.88 $0.00

O&M Expenses (7,642.35) 0.00

Subtotal 3,884.53 0.00

CFO & PFR Principal Adjustment (293.51) 

PFR Interest Adjustment 5.61 

Results of Operations - Surplus/(Deficit) 3,596.63 0.00

Water Deliveries

Class 1 622 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 622 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 622 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 622 X 7.99 (4,969.78)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($1,373.15) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

BANTA-CARBONA ID - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $338,818.90 $0.00

O&M Expenses (200,362.69) 0.00

Subtotal 138,456.21 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 944.94

Results of Operations - Surplus/(Deficit) 1/ 139,401.15 0.00

Water Deliveries

Class 1 17,262 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 17,262 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 17,262 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 17,262 X 9.07 (156,566.34)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($17,165.19) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

CENTINELLA WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $31,385.85 $0.00

O&M Expenses (19,893.64) 0.00

Subtotal 11,492.21 0.00

CFO & PFR Principal Adjustment (1,053.44) 

PFR Interest Adjustment 17.36 

Results of Operations - Surplus/(Deficit) - 10,456.13 

Water Deliveries

Class 1 1,656 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,656 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 1,656 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 1,656 X 8.42 (13,943.52)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) - (3,487.39) 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

DEL PUERTO WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $1,891,563.18 $0.00 $1,891,563.18

O&M Expenses (1,131,270.84) 0.00 (1,131,270.84)

Subtotal 760,292.34 0.00 760,292.34

PFR Interest Adjustment 50,693.86 50,693.86

PFR Principal Adjustment to FY 01 0.00

Expense Adjustment to FY 01 0.00

Results of Operatons - Surplus/(Deficit) 810,986.21 0.00 810,986.21

Water Deliveries

Irrigation

Class 1 90,693 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 90,693 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 90,693 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 90,693 X 10.31 (935,044.83) (935,044.83)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($124,058.62) $0.00 ($124,058.62)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

EAGLE FIELD WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $53,135.37 $0.00

O&M Expenses (32,331.68) 0.00

Subtotal 20,803.69 0.00

CFO & PFR Principal Adjustment

PFR Interest Adjustment 1,239.06

Results of Operatons - Surplus/(Deficit) 1/ 22,042.75 0.00

Water Deliveries

Class 1 2,634 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 2,634 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 2,634 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 2,634 X 9.53 (25,102.02)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($3,059.27) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

MERCY SPRINGS WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $93,525.76 $0.00

O&M Expenses (52,438.14) 0.00

Subtotal 41,087.62 0.00

CFO & PFR Principal Adjustment - 

PFR Interest Adjustment 3,708.80 

Results of Operations - Surplus/(Deficit) 44,796.42 0.00

Water Deliveries

Class 1 4,000 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 4,000 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 4,000 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 4,000 X 12.67 (50,680.00)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($5,883.58) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

ORO LOMA WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $62,734.80 $0.00

O&M Expenses (39,488.42) 0.00

Subtotal 23,246.38 0.00

CFO & PFR Principal Adjustment

PFR Interest Adjustment 1,242.53

Results of Operations - Surplus/(Deficit) 1/ 24,488.90 0.00

Water Deliveries

Class 1 3,123 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 3,123 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 3,123 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 3,123 X 9.52 (29,730.96)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($5,242.06) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

PATTERSON WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $264,872.59 $0.00

O&M Expenses (144,804.38) 0.00

Subtotal 120,068.21 0.00

CFO & PFR Principal Adjustment - 

PFR Interest Adjustment 9,112.14 

Results of Operations - Surplus/(Deficit) 129,180.35 0.00

Water Deliveries

Class 1 11,299 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 11,299 X 2.61 (29,490.39)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 11,299 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 11,299 X 10.27 (116,040.73)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($16,350.77) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

PLAIN VIEW WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $217,797.06 $0.00 $217,797.06

O&M Expenses (132,397.24) 0.00 ($132,397.24)

Subtotal 85,399.82 0.00 $85,399.82

PFR Interest Adjustment 9,354.35 9,354.35

PFR Principal Adjustment to FY 01 0.00

Results of Operations - Surplus/(Deficit) 2/ 94,754.17 0.00 94,754.17

Water Deliveries

Irrigation

Class 1 10,275 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 10,275 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 10,275 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 10,275 X 10.42 (107,065.50) (107,065.50)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($12,311.33) $0.00 ($12,311.33)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

WEST SIDE ID - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $102,832.63 $0.00

O&M Expenses (65,118.00) 0.00

Subtotal 37,714.63 0.00

CFO & PFR Principal Adjustment

PFR Interest Adjustment 0.87

Results of Operations - Surplus/(Deficit) 1/ 37,715.51 0.00

Water Deliveries

Class 1 5,381 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 5,381 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 5,381 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 5,381 X 8.57 (46,115.17)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($8,399.66) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

WEST STANISLAUS ID - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $790,469.04 $0.00

O&M Expenses (451,861.62) 0.00

Subtotal 338,607.42 0.00

CFO & PFR Principal Adjustment 0.00

PFR Interest Adjustment 23,353.77

Results of Operations - Surplus/(Deficit) 361,961.19 0.00

Water Deliveries

Class 1 37,520 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 37,520 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 37,520 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 37,520 X 10.48 (393,209.60)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($31,248.41) $0.00
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

WIDREN WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $0.00 $0.00

O&M Expenses (2,887.14) 0.00

Subtotal (2,887.14) 0.00

CFO & PFR Principal Adjustment

PFR Interest Adjustment 1,606.52

Results of Operations - Surplus/(Deficit) 1/ (1,280.62) 0.00

Water Deliveries

Class 1 0 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 0 X 2.58 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 0 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 0 X 10.42 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($1,280.62) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

BROADVIEW WD - DMC

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $360,667.96 $0.00 $360,667.96

O&M Expenses (213,236.97) 0.00 (213,236.97)

Subtotal 147,430.99 0.00 147,430.99

PFR Interest Adjustment 7,115.95 7,115.95

PFR Principal Adjustment to FY 01 0.00

Results of Operations - Surplus/(Deficit) 1/ 154,546.94 0.00 154,546.94

Water Deliveries

Irrigation

Class 1 17,776 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 17,776 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 17,776 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 17,776 X 9.73 (172,960.48) (172,960.48)

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($18,413.54) $0.00 ($18,413.54)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

ARVIN-EDISON WSD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $535,918.96 $336,829.92 $872,748.88

O&M Expenses (312,723.87) (440,873.48) (753,597.34)

Subtotal 223,195.09 (104,043.56) 119,151.54

Revenue Adjustment (from Class 1 to Class 2) (104,043.56) 104,043.56 0.00

PFR Interest Adjustment 557.11 1,716.18 2,273.29

PFR Principal Adjustment to FY 01 0.00

Results of Operations - Surplus/(Deficit) $119,708.64 $1,716.18 $121,424.82

Water Deliveries

Irrigation

Class 1 26,930 A/F

Class 2 33,394 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 26,930 X 0.00 0.00

IRR Class 2 33,394 X 0.00 0.00

Non-Interest Bearing 

IRR Class 1 26,930 X 0.00 0.00

IRR Class 2 33,394 X 0.00 0.00

Less Capital Recovery

IRR Class 1 26,930 X 9.29 (250,179.70) (250,179.70)

IRR Class 2 33,394 X 4.12 (137,583.28) (137,583.28)

NET OVER (UNDER) ($130,471.06) ($135,867.10) ($266,338.16)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

DELANO-EARLIMART ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $2,316,365.32 $61,348.89 $2,377,714.21

O&M Expenses (1,368,905.65) (75,703.39) (1,444,609.05)

Subtotal 947,459.67 (14,354.50) 933,105.16

Revenue Adjustment (from Class 1 to Class 2) (14,354.50) 14,354.50 0.00

PFR Interest Adjustment 7,115.63 710.01 7,825.64

PFR Principal Adjustment to FY 01 0.00

Results of Operations - Surplus/(Deficit) 940,220.79 710.01 940,930.80

Water Deliveries

Irrigation

Class 1 119,156 A/F

Class 2 6,000 A/F

M&I 181 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 119,156 X 0.00 0.00 0.00

IRR Class 2 6,000 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 119,156 X 0.00 0.00 0.00

Class 2 6,000 X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 119,156 X 8.87 (1,056,913.72) (1,056,913.72)

IRR Class 2 6,000 X 4.20 (25,200.00) (25,200.00)

NET CLASS 1 & CLASS 2 OVER (UNDER) ($116,692.93) ($24,489.99) ($141,182.92)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

EXETER ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $209,409.78 $16,809.67 $226,219.45

O&M Expenses (130,279.76) (30,047.47) (160,327.23)

Subtotal 79,130.02 (13,237.80) 65,892.22

Revenue Adjustment (from Class 1 to Class 2) (13,237.80) 13,237.80 0.00

CFO & PFR Principal Adjustment 0.00 0.00 0.00

PFR Interest Adjustment 806.82 39.57 846.39

Results of Operations - Surplus/(Deficit) 66,699.04 39.57 66,738.61

Water Deliveries

Class 1 10,814 A/F

Class 2 1,737 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 10,814 X 0.00 0.00 0.00

Class 2 1,737 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 10,814 X 0.00 0.00 0.00

Class 2 1,737 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 10,814 X 8.82 (95,379.48) (95,379.48)

Class 2 1,737 X 3.87 (6,722.19) (6,722.19)

NET CLASS 1 & CLASS 2 OVER (UNDER) ($28,680.44) ($6,682.62) ($35,363.06)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

GARFIELD WD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $98,304.56 $0.00 $98,304.56

O&M Expenses (44,917.12) 0.00 (44,917.12)

Subtotal 53,387.44 0.00 53,387.44

CFO & PFR Principal Adjustment 0.00 0.00

PFR Interest Adjustment 19,379.43 19,379.43

Results of Operations - Surplus/(Deficit) 72,766.86 0.00 72,766.86

Water Deliveries

Class 1 3,855 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 3,855 X 4.14 (15,959.70) (15,959.70)

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 3,855 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 3,855 X 10.59 (40,824.45) (40,824.45)

Class 2 N/A X 0.00 0.00 0.00

NET CLASS 1 & CLASS 2 OVER (UNDER) 15,982.71 0.00 15,982.71

Less balance due for water account #9421L (13,883.14) (13,883.14)

NET OVER (UNDER) * $2,099.57 $0.00 $2,099.57

* ACH Vendor / Miscellaneous Payment Enrollment Form attached.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

INTERNATIONAL WD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $23,270.28 $0.00 $23,270.28

O&M Expenses (13,829.08) 0.00 (13,829.08)

Subtotal 9,441.20 0.00 9,441.20

CFO & PFR Principal Adjustment 0.00

PFR Interest Adjustment 679.48 679.48

Results of Operations - Surplus/(Deficit) 1/ 10,120.68 0.00 10,120.68

Water Deliveries

Class 1 1,156 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,156 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 1,156 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 1,156 X 9.56 (11,051.36) (11,051.36)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($930.68) $0.00 ($930.68)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

IVANHOE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $153,921.58 $7,180.90 $161,102.48

O&M Expenses (93,439.24) (11,442.43) (104,881.67)

Subtotal 60,482.34 (4,261.53) 56,220.81

Revenue Adjustment (from Class 1 to Class 2) (4,261.53) 4,261.53 0.00

CFO & PFR Principal Adjustment 0.00 0.00 0.00

PFR Interest Adjustment 572.80 18.77 591.57

Results of Operations - Surplus/(Deficit) 56,793.61 18.77 56,812.38

Water Deliveries

Class 1 7,874 A/F

Class 2 722 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 7,874 X 0.00 0.00 0.00

Class 2 722 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 7,874 X 0.00 0.00 0.00

Class 2 722 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 7,874 X 8.99 (70,787.26) (70,787.26)

Class 2 722 X 4.14 (2,989.08) (2,989.08)

NET OVER (UNDER) ($13,993.65) ($2,970.31) ($16,963.96)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

LEWIS CREEK WD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $0.00 $0.00 $0.00

O&M Expenses (1,725.32) 0.00 (1,725.32)

Subtotal (1,725.32) 0.00 (1,725.32)

CFO & PFR Principal Adjustment 0.00

PFR Interest Adjustment 1,047.60 1,047.60

Results of Operations - Surplus/(Deficit) 1/ (677.72) 0.00 (677.72)

Water Deliveries

Class 1 0 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 0 X 5.38 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 0 X 0.02 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 0 X 10.38 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($677.72) $0.00 ($677.72)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

LINDMORE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $589,245.93 $20,086.71 $609,332.64

O&M Expenses (366,665.31) (34,790.38) (401,455.69)

Subtotal 222,580.62 (14,703.67) 207,876.95

Revenue Adjustment (from Class 1 to Class 2) (14,703.67) 14,703.67 0.00

CFO & PFR Principal Adjustment - - 0.00

PFR Interest Adjustment 760.71 53.48 814.19

Results of Operations - Surplus/(Deficit) 208,637.66 53.48 208,691.14

Water Deliveries

Class 1 30,345 A/F

Class 2 2,011 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 30,345 X 0.00 0.00 0.00

Class 2 2,011 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 30,345 X 0.00 0.00 0.00

Class 2 2,011 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 30,345 X 8.88 (269,463.60) (269,463.60)

Class 2 2,011 X 4.16 (8,365.76) (8,365.76)

NET OVER (UNDER) ($60,825.94) ($8,312.28) ($69,138.22)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

ORANGE COVE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $739,984.83 $0.00 $739,984.83

O&M Expenses (447,160.76) 0.00 (447,160.76)

Subtotal 292,824.07 0.00 292,824.07

CFO & PFR Principal Adjustment 0.00 0.00 0.00

PFR Interest Adjustment 4,935.22 0.00 4,935.22

Results of Operations - Surplus/(Deficit) 297,759.29 0.00 297,759.29

Water Deliveries

Class 1 37,731 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 37,731 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 37,731 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 37,731 X 9.04 (341,088.24) (341,088.24)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($43,328.95) $0.00 ($43,328.95)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

PORTERVILLE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $318,963.97 $28,321.62 $347,285.59

O&M Expenses (199,371.62) (46,998.26) (246,369.88)

Subtotal 119,592.35 (18,676.64) 100,915.71

Revenue Adjustment (from Class 1 to Class 2) (18,676.64) 18,676.64 0.00

CFO/PFR Adjustment - - 0.00

PFR Interest Adjustment 4,065.10 403.83 4,468.92

Results of Operations - Surplus/(Deficit) 104,980.81 403.83 105,384.63

Water Deliveries

Class 1 17,324 A/F

Class 2 2,743 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 17,324 X 0.00 0.00 0.00

Class 2 2,743 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 17,324 X 0.00 0.00 0.00

Class 2 2,743 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 17,324 X 9.63 (166,830.12) (166,830.12)

Class 2 2,743 X 4.52 (12,398.36) (12,398.36)

NET OVER (UNDER) ($61,849.31) ($11,994.53) ($73,843.85)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

SAUCELITO ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Class 1 Class 2

Results of Operations

$417,473.08 $29,619.02 $447,092.10

Water Revenues (252,828.84) (41,016.82) (293,845.66)

O&M Expenses

164,644.24 (11,397.80) 153,246.44

Subtotal

Revenue Adjustment (from Class 1 to Class 2) (11,397.80) 11,397.80 0.00

CFO & PFR Principal Adjustment 0.00

PFR Interest Adjustment 1,851.34 406.25 2,257.59

155,097.78 406.25 155,504.03

Results of Operations - Surplus/(Deficit)

Water Deliveries

Class 1 21,188 A/F

Class 2 2,999 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 21,188 X 0.00 0.00 0.00

Class 2 2,999 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 21,188 X 0.00 0.00 0.00

Class 2 2,999 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 21,188 X 9.14 (193,658.32) (193,658.32)

Class 2 2,999 X 4.07 (12,205.93) (12,205.93)

NET OVER (UNDER) ($38,560.54) ($11,799.68) ($50,360.22)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

SHAFTER-WASCO ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $986,859.09 $37,844.98 $1,024,704.07

O&M Expenses (557,926.00) (60,055.49) (617,981.49)

Subtotal 428,933.09 (22,210.51) 406,722.58

Revenue Adjustment (from Class 1 to Class 2) (22,210.51) 22,210.51 0.00

PFR Interest Adjustment 19,225.04 330.44 19,555.48

PFR Principal Adjustment to FY 01 0.00

Results of Operations - Surplus/(Deficit) 425,947.63 330.44 426,278.07

Water Deliveries

Class 1 47,322 A/F

Class 2 3,617 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 47,322 X 0.00 0.00 0.00

IRR Class 2 3,617 X 0.00 0.00 0.00

Non-Interest Bearing 

IRR Class 1 47,322 X 0.00 0.00 0.00

IRR Class 2 3,617 X 0.00 0.00 0.00

Less Capital Recovery

IRR Class 1 47,322 X 10.23 (484,104.06) (484,104.06)

IRR Class 2 3,617 X 4.44 (16,059.48) (16,059.48)

NET OVER (UNDER) ($58,156.43) ($15,729.04) ($73,885.47)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

SO SAN JOAQUIN MUD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $2,020,832.60 $46,383.78 $2,067,216.38

O&M Expenses (1,176,751.11) (79,072.00) (1,255,823.11)

Subtotal 844,081.49 (32,688.22) 811,393.27

Revenue Adjustment (from Class 1 to Class 2) (32,688.22) 32,688.22 0.00

CFO & PFR Principal Adjustment - - 0.00

PFR Interest Adjustment 23,231.88 813.46 24,045.34

Results of Operations - Surplus/(Deficit) 834,625.14 813.46 835,438.61

Water Deliveries

Class 1 100,978 A/F

Class 2 4,571 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 100,978 X 0.00 0.00 0.00

Class 2 4,571 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 100,978 X 0.00 0.00 0.00

Class 2 4,571 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 100,978 X 9.45 (954,242.10) (954,242.10)

Class 2 4,571 X 4.34 (19,838.14) (19,838.14)

NET OVER (UNDER) ($119,616.96) ($19,024.68) ($138,641.63)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

STONE CORRAL ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $185,220.12 $0.00 $185,220.12

O&M Expenses (115,169.88) 0.00 (115,169.88)

Subtotal 70,050.24 0.00 70,050.24

CFO & PFR Principal Adjustment - 0.00 - 

PFR Interest Adjustment 386.23 0.00 386.23 

Results of Operations - Surplus/(Deficit) 0.00 70,436.47 70,436.47

Water Deliveries

Class 1 9,452 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 9,452 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 9,452 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 9,452 X 9.03 (85,351.56) (85,351.56)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($14,915.09) $0.00 ($14,915.09)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

TEA POT DOME WD - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $146,046.35 $0.00 $146,046.35

O&M Expenses (89,316.76) 0.00 (89,316.76)

Subtotal 56,729.59 0.00 56,729.59

CFO & PFR Principal Adjustment 0.00 0.00

PFR Interest Adjustment 64.54 64.54

Results of Operations - Surplus/(Deficit) 56,794.12 0.00 56,794.12

Water Deliveries

Class 1 7,353 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 7,353 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 7,353 X 0.00 0.00 0.00

Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 7,353 X 9.32 (68,529.96) (68,529.96)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($11,735.84) $0.00 ($11,735.84)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

TERRA BELLA ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $564,213.34 $0.00 $564,213.34

O&M Expenses (351,063.45) 0.00 (351,063.45)

Subtotal 213,149.89 0.00 213,149.89

PFR Interest Adjustment 1,714.42 0.00 1,714.42

PFR Principal Adjustment to FY 01 0.00

Results of Operations - Surplus/(Deficit) 214,864.31 0.00 214,864.31

Water Deliveries

Irrigation

Class 1 28,624 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 28,624 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 28,624 X 0.00 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

Less Capital Recovery

Class 1 28,624 X 9.17 (262,482.08) (262,482.08)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($47,617.77) $0.00 ($47,617.77)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

TULARE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $785,674.85 $84,313.02 $869,987.87

O&M Expenses (458,141.36) (117,204.17) (575,345.53)

Results of Operations - Surplus/(Deficit) 327,533.49 (32,891.15) 294,642.34

Revenue Adjustment (from Class 1 to Class 2) (32,891.15) 32,891.15 0.00

CFO & PFR Principal Adjustment 0.00 0.00 0.00

PFR Interest Adjustment 294.88 545.82 840.70

Results of Operations - Surplus/(Deficit) 294,937.22 545.82 295,483.04

Water Deliveries

Class 1 40,906 A/F

Class 2 8,921 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 40,906 X 0.00 0.00 0.00

Class 2 8,921 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 40,906 X 0.00 0.00 0.00

Class 2 8,921 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 40,906 X 8.60 (351,791.60) (351,791.60)

Class 2 8,921 X 3.94 (35,148.74) (35,148.74)

NET OVER (UNDER) ($56,854.38) ($34,602.92) ($91,457.30)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

LINDSAY-STRATHMORE ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $537,026.37 $0.00 $537,026.37

O&M Expenses (318,956.57) 0.00 (318,956.57)

Subtotal 218,069.80 0.00 218,069.80

PFR Interest Adjustment 6,476.01 6,476.01

PFR Principal Adjustment to FY 01 0.00

Results of Operations - Surplus/(Deficit) 224,545.81 0.00 224,545.81

Water Deliveries

Irrigation

Class 1 26,873 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 26,873 X 0.00 0.00 $0.00

IRR Class 2 N/A X 0.00 0.00 $0.00

Non-Interest Bearing 

Class 1 26,873 X 0.00 0.00 $0.00

Class 2 N/A X 0.00 0.00 $0.00

Less Capital Recovery

IRR Class 1 26,873 X 9.43 (253,412.39) ($253,412.39)

IRR Class 2 N/A X 0.00 0.00 $0.00

NET OVER (UNDER) ($28,866.58) $0.00 ($28,866.58)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

LOWER TULE RIVER ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $1,135,075.14 $275,474.16 $1,410,549.30

O&M Expenses (671,779.74) (328,661.35) (1,000,441.09)

Subtotal 463,295.40 (53,187.19) 410,108.21

Revenue Adjustment (from Class 1 to Class 2) (53,187.19) 53,187.19 0.00

CFO & PFR Principal Adjustment 0.00 0.00 0.00

PFR Interest Adjustment 6,495.65 1,994.67 8,490.31

Results of Operations - Surplus/(Deficit) 416,603.85 1,994.67 418,598.52

Water Deliveries

Class 1 58,967 A/F

Class 2 27,736 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 58,967 X 0.00 0.00 0.00

Class 2 27,736 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 58,967 X 0.00 0.00 0.00

Class 2 27,736 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 58,967 X 8.72 (514,192.24) (514,192.24)

Class 2 27,736 X 4.03 (111,776.08) (111,776.08)

NET OVER (UNDER) ($97,588.39) ($109,781.41) ($207,369.80)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

FRESNO ID - FK CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION Total

Results of Operations Class 1 Class 2

Water Revenues $0.00 $69,936.00 $69,936.00

O&M Expenses 10,199.64 (43,828.96) (33,629.32)

Subtotal 10,199.64 26,107.04 36,306.68

CFO & PFR Principal Adjustment 0.00

PFR Interest Adjustment 3,615.23 893.59 4,508.82

Results of Operations - Surplus/(Deficit) 1/ 13,814.87 27,000.62 40,815.49

Water Deliveries

Class 1 0 A/F

Class 2 6,503 A/F

Less Deficit Recovery

Interest Bearing A/F Rate 0.00 0.00

Class 1 0 X 0.00 (5,007.31) (5,007.31)

Class 2 6,503 X 0.77

Non-Interest Bearing 0.00 0.00

Class 1 0 X 0.00 0.00 0.00

Class 2 6,503 X 0.00

Less Capital Recovery 0.00 0.00

Class 1 0 X 0.00 (27,442.66) (27,442.66)

Class 2 6,503 X 4.22

NET OVER (UNDER) $13,814.87 ($5,449.35) $8,365.52

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

* ACH Vendor / Miscellaneous Payment Enrollment Form attached.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

GRAVELLY FORD WD - FRIANT D & R - CLASS 2

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $0.00 $45,663.05

O&M Expenses 0.00 (57,127.25)

Subtotal 0.00 (11,464.20)

CFO/PFR Principal Adjustment

PFR Interest Adjustment 1.35

Results of Operations - Surplus/(Deficit) 1/ 0.00 (11,462.85)

Water Deliveries

Class 1 N/A A/F

Class 2 8,285 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 N/A X 0.00 0.00

Class 2 8,285 X 0.00 0.00

Non-Interest Bearing 

Class 1 N/A X 0.00 0.00

Class 2 8,285 X 0.00 0.00

Less Capital Recovery

Class 1 N/A X 0.00 0.00

Class 2 8,285 X 0.00 0.00

NET OVER (UNDER) $0.00 ($11,462.85)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount may be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

MADERA ID - HIDDEN UNIT

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $348,960.00 $0.00 $348,960.00

O&M Expenses (268,227.89) 0.00 (268,227.89)

Subtotal 80,732.11 0.00 80,732.11

CFO/PFR Principal Adjustment 0.00 0.00

PFR Interest Adjustment 1/ (650.53) (650.53)

Results of Operations - Surplus/(Deficit) 80,081.58 0.00 80,081.58

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 4.01 (96,240.00) (96,240.00)

Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) ($16,158.42) $0.00 ($16,158.42)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

CHOWCHILLA WD - MADERA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $1,089,450.95 $147,448.22 $1,236,899.17

O&M Expenses (615,504.78) (126,700.30) (742,205.07)

Subtotal 473,946.17 20,747.92 494,694.10

CFO/PFR Principal Adjustment 0.00 0.00 0.00

PFR Interest Adjustment 13,387.10 1,765.95 15,153.06

Results of Operations - Surplus/(Deficit) 487,333.28 22,513.88 509,847.15

Water Deliveries

Class 1 55,073 A/F

Class 2 14,538 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 55,073 X 0.00 0.00 0.00

Class 2 14,538 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 55,073 X 0.00 0.00 0.00

Class 2 14,538 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 55,073 X 9.62 (529,802.26) (529,802.26)

Class 2 14,538 X 4.34 (63,094.92) (63,094.92)

NET OVER (UNDER) ($42,468.98) ($40,581.04) ($83,050.03)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

MADERA ID - MADERA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $1,791,065.70 $173,465.04 $1,964,530.74

O&M Expenses (1,009,397.92) (264,005.94) (1,273,403.86)

Subtotal 781,667.78 (90,540.90) 691,126.88

Revenue Adjustment (from Class 1 to Class 2) (90,540.90) 90,540.90 0.00

CFO/PFR Principal Adjustment 0.00 0.00 0.00

PFR Interest Adjustment 20,010.29 2,251.03 22,261.32

Results of Operations - Surplus/(Deficit) 711,137.17 2,251.03 713,388.20

Water Deliveries

Class 1 89,142 A/F

Class 2 17,012 A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 89,142 X 0.00 0.00 0.00

Class 2 17,012 X 0.00 0.00 0.00

Non-Interest Bearing 

Class 1 89,142 X 0.00 0.00 0.00

Class 2 17,012 X 0.00 0.00 0.00

Less Capital Recovery

Class 1 89,142 X 9.55 (851,306.10) (851,306.10)

Class 2 17,012 X 4.39 (74,682.68) (74,682.68)

NET OVER (UNDER) ($140,168.93) ($72,431.65) ($212,600.58)
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

FEATHER WD - SACRAMENTO RIVER/WILLOWS

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Results of Operations Class 1 Class 2

Water Revenues $137,358.20 $0.00

O&M Expenses ($107,738.20) 0.00

Subtotal 29,620.00 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 1.57

Results of Operations - Surplus/(Deficit) 1/ 29,621.56 0.00

Water Deliveries

Class 1 9,640 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 9,640 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 9,640 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 9,640 X 3.74 (36,053.60)

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($6,432.04) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount may be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

EL DORADO ID - SLY PARK D & R

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

IRRIGATION TOTAL

Results of Operations Class 1 Class 2

Water Revenues $25,047.84 $0.00 $25,047.84

O&M Expenses ($24,652.73) 0.00 ($24,652.73)

Subtotal 395.11 0.00 395.11

PFR Interest Adjustment 0.74 0.74

Results of Operations - Surplus/(Deficit) 395.85 0.00 395.85

Water Deliveries

Irrigation

Class 1 4,566 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 4,566 X 0.00 0.00 $0.00

IRR Class 2 N/A X 0.00 0.00 $0.00

Non-Interest Bearing 

Class 1 4,566 X 0.00 0.00 $0.00

Class 2 N/A X 0.00 0.00 $0.00

Less Capital Recovery

IRR Class 1 4,566 X 0.00 - - 

IRR Class 2 N/A X 0.00 0.00 $0.00

Less balance due from water account #0949F (25,048.58) (25,048.58)

NET OVER (UNDER) * ($24,652.73) $0.00 ($24,652.73)

* ACH Vendor / Miscellaneous Payment Enrollment Form attached.
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

COLUSA COUNTY WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

(IRRIGATION CONTRACTOR)

Irrigation Total

Results of Operations Class 1 Class 2

Water Revenues $678,096.31 $0.00 $678,096.31

O&M Expenses ($667,276.80) 0.00 ($667,276.80)

Subtotal 10,819.51 0.00 10,819.51

CFO/PFR Principal Adjustment 0.00

PFR Interest Adjustment 12,374.72 12,374.72

Results of Operations - Surplus/(Deficit) 1/ 23,194.23 0.00 23,194.23

Water Deliveries

Irrigation

Class 1 43,384 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

IRR Class 1 43,384 X 1.39 (60,303.76) (60,303.76)

IRR Class 2 N/A X 0.00 0.00 0.00

Non-Interest Bearing 

IRR Class 1 43,384 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 43,384 X 0.00 2/ 0.00 0.00

IRR Class 2 N/A X 0.00 0.00 0.00

NET OVER (UNDER) * ($37,109.53) $0.00 ($37,109.53)

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

DAVIS WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $24,598.22 $0.00

O&M Expenses ($22,550.06) 0.00

Subtotal 2,048.16 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 1,032.49

Results of Operations - Surplus/(Deficit) 1/ 3,080.65 0.00

Water Deliveries

Class 1 1,853 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,853 X 2.73 (5,058.69)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 1,853 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 1,853 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

Less balance due from water account #6001F (26.52)

NET OVER (UNDER) * ($2,004.56) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

DUNNIGAN WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $191,687.26 $0.00

O&M Expenses ($190,866.55) 0.00

Subtotal 820.71 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 3,057.24

Results of Operations - Surplus/(Deficit) 1/ 3,877.95 0.00

Water Deliveries

Class 1 15,962 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 15,962 X 1.09 (17,398.58)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 15,962 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 15,962 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($13,520.63) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

GLIDE WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $112,113.46 $0.00

O&M Expenses ($130,440.88) 0.00

Subtotal (18,327.42) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 717.71

Results of Operations - Surplus/(Deficit) 1/ (17,609.71) 0.00

Water Deliveries

Class 1 10,639 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 10,639 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 10,639 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 10,639 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($17,609.71) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

KANAWHA WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Class 1 Class 2

Water Revenues $456,086.76 $0.00

O&M Expenses ($504,542.02) 0.00

Subtotal (48,455.26) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 3,953.44

Results of Operations - Surplus/(Deficit) 1/ (44,501.83) 0.00

Water Deliveries

Class 1 41,490 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 41,490 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 41,490 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 41,490 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($44,501.83) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

LA GRANDE WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $63,527.80 $0.00

O&M Expenses ($65,278.51) 0.00

Subtotal (1,750.71) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 1,418.25

Results of Operations - Surplus/(Deficit) 1/ (332.46) 0.00

Water Deliveries

Class 1 5,383 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 5,383 X 1.27 (6,836.41)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 5,383 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 5,383 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($7,168.87) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

ORLAND-ARTOIS WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $665,078.05 $0.00

O&M Expenses ($692,112.29) 0.00

Subtotal (27,034.24) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 9,498.41

Results of Operations - Surplus/(Deficit) 1/ (17,535.83) 0.00

Water Deliveries

Class 1 53,712 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 53,712 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 53,712 X 0.10 (5,371.20)

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 53,712 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * ($22,907.03) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

WESTSIDE WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $622,423.51 $0.00

O&M Expenses ($587,802.58) 0.00

Subtotal 34,620.93 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 9,133.28

Results of Operations - Surplus/(Deficit) 1/ 43,754.21 0.00

Water Deliveries

Class 1 48,779 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 48,779 X 1.13 (55,120.27)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 48,779 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 48,779 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * ($11,366.06) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

4-M WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $25,439.46 $0.00

O&M Expenses ($28,545.02) 0.00

Subtotal (3,105.56) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 108.36

Results of Operations - Surplus/(Deficit) 1/ (2,997.20) 0.00

Water Deliveries

Class 1 2,375 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 2,375 X 0.14 (332.50)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 2,375 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 2,375 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($3,329.70) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

CORTINA WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $9,912.55 $0.00

O&M Expenses ($10,529.30) 0.00

Subtotal (616.75) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 360.36

Results of Operations - Surplus/(Deficit) 1/ (256.39) 0.00

Water Deliveries

Class 1 815 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 815 X 1.58 (1,287.70)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 815 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 815 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($1,544.09) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

GLENN VALLEY WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $9,794.26 $0.00

O&M Expenses ($9,548.22) 0.00

Subtotal 246.04 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 230.52

Results of Operations - Surplus/(Deficit) 1/ 476.56 0.00

Water Deliveries

Class 1 761 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 761 X 1.68 (1,278.48)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 761 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 761 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($801.92) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

HOLTHOUSE WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $14,834.52 $0.00

O&M Expenses ($15,840.40) 0.00

Subtotal (1,005.88) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 521.87

Results of Operations - Surplus/(Deficit) 1/ (484.01) 0.00

Water Deliveries

Class 1 1,342 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,342 X 0.69 (925.98)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 1,342 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 1,342 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($1,409.99) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

KIRKWOOD WD - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $15,980.33 $0.00

O&M Expenses ($16,086.69) 0.00

Subtotal (106.36) 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 175.75

Results of Operations - Surplus/(Deficit) 1/ 69.39 0.00

Water Deliveries

Class 1 1,380 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 1,380 X 0.77 (1,062.60)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 1,380 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 1,380 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) ($993.21) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis. 
IRR 2002 Refund Provision Analysis.Z06.XLS

07/25/2003

CENTRAL VALLEY PROJECT

MYERS-MARSH MWC - TEHAMA-COLUSA CANAL

REFUND PROVISION ANALYSIS

FOR FISCAL YEAR ENDED SEPTEMBER 30, 2002

IRRIGATION CONTRACTOR

Results of Operations Class 1 Class 2

Water Revenues $1,989.24 $0.00

O&M Expenses ($1,619.93) 0.00

Subtotal 369.31 0.00

CFO/PFR Principal Adjustment

PFR Interest Adjustment 95.31

Results of Operations - Surplus/(Deficit) 1/ 464.62 0.00

Water Deliveries

Class 1 121 A/F

Class 2 N/A A/F

Less Deficit Recovery

Interest Bearing A/F Rate

Class 1 121 X 5.91 (715.11)

Class 2 N/A X 0.00 0.00

Non-Interest Bearing 

Class 1 121 X 0.00 0.00

Class 2 N/A X 0.00 0.00

Less Capital Recovery

Class 1 121 X 0.00 2/ 0.00

Class 2 N/A X 0.00 0.00

NET OVER (UNDER) * ($250.49) $0.00

1/ For those contractors who chose to spread the reclassified costs over the 5-year period, this

amount will be different than the adjusted results of operations shown on the Sch. B-1.

The difference is due to the "Provision for Replacement" interest adjustment and will be reflected

in the Statement of Cumulative Operations.

2/ Capital rate is zero as a result of the payment capacity analysis.