OCR Text |
Show (4) Progress of return and repayment thereon; and (5) Estimated rate of progress, year by year, in accomplishing full repayment. Because of the nature of project activities during the fiscal year, this sixth annual report deals primarily with construction progress to June 30, 1962, and only limited coments are furnished with respect to the remaining items required to be reported upon. 1. STATUS OF REVENUES Revenues received during fiscal year 1962 amounted to $6,529. Of this amount, $3,025 represents operating revenues from the sale of water from the Navajo storage unit under short-term water sales contracts, and $3,504 was collected from miscellaneous sources. Total revenues to June 30, 1962, amount to $46,389 and were derived from the following sources: Operating revenues: Sale of water...................................................................$ 3,025 Nonoperating revenues: Lease of land for grazing and agricultural use...................................... 31,765 Miscellaneous............................................-.........__..................................... 11,599 Total........................................................................................................... 46,389 2. COST OF CONSTRUCTING, OPERATING, AND MAINTAINING THE PROJECT The cost of constructing the project to June 30, 1962, is reflected in the following attached financial exhibits: Exhibit A - Comparative balance sheets at June 30, 1962, and June 30, 1961. ¦ Exhibit B - Statement of source and application of funds and other credits as of June 30, 1962. Exhibit A sets forth comparatively the financial condition of the project at June 30, 1962, and June 30, 1961. The cumulative funds and other credits available to the project at June 30, 1962, and the manner in which such funds and credits were used or applied are set forth on exhibit B. Activities during fiscal year 1962 were directed mainly to construction work on the storage project units, the transmission system, and on the Emery County, Florida, Hammond, Seedskadee, Smith Fork, Paonia, and Vernal unit participating projects. In addition, advance planning continued on the Crystal Dam, Reservoir, and powerplant of the Curecanti storage unit, and on the central Utah, La Barge, Lyman, and Silt participating projects. Costs incurred 86 |