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Financial Security Package

	Forms or Guidance	Sample Submittals Instructions	Information
Financial Security Package	Package	Instructions	Complete the Financial SecurityPackage and submit with the listed attachments below.
Audited Financial Statements (F1)	No link/form currently exists	No sample exists	Provide COMPLETE audited financial statements for the most recent three years. Submit via hardcopy, CD, email, or web link. Refer to the schedule below: Application Date Required Financial Statements January 1st through June 30th Most recent three years, including last Fiscal Year Example: Application on March 1, 2013 requires Financial Statements for Fiscal Years 2009/10; 2010/11; and 2012/12. July 1st through December 31st Most recent three years prior to current Fiscal Year Example: Application on September 1, 2012, requires Financial Statements for Fiscal Years 2008/09; 2009/10; and 2010/11 Identify any restricted funds and the reason for the restrictions as well as all sources of security to be pledged. If using real property, provide at least two appraisals of the value, how the value was determined, and whether the property is currently pledged as security on any other debt.
Tax Questionnaire (F2)	Form	Sample	The Tax Questionnaire provides basic information about project costs, accounting, and who will own and operate the project. The applicant's response to the Tax Questionnaire and Reimbursement Resolution (see below) are reviewed by the State Water Board's CWSRF tax attorney (CWSRF tax attorney) to determine whether the applicant is eligible to receive funds from tax-exempt revenue bond sales. After reviewing these documents,you may be required to sign a Tax Certificate which will be forwarded to you for signature by your Authorized Representative..
Reimbursement Resolution (F3)	Form	Sample	An adopted Reimbursement Resolution is required for review by the CWSRF tax attorney. The language may not vary from the language provided by the template. The Reimbursement Resolution should be a stand-alone resolution.
Authorizing Resolution (F4)	Form	Sample	This resolution or ordinance designates the Authorized Representative(s) for the project, who will have the authority to sign and submit the CWSRF application materials, certify compliance with applicable state and federal laws, execude the financial assistance agreement and amendments, and certify disbursement requests. To minimize the potential for problems, use the exact language in the template resolution. Enter the title of the Authorized Representative, NOT a person's name. Do not modify the words financing or financial assistance to other terms such as "loan", "grant", or "principal forgiveness". Use of these terms will create legal complications; the terms "financing" and "financial assistance" are broad enough to be applicable to all of the above. It is not necessary to specify the requested amount of financing. If you do specify an amout, to allow some flexibility, please specify the maximum anticipaged amount of financing as follows: "Financial assistance shall not exceed $__________."
Rate Adoption Resolution (F5)	No template exists	No sample exists	This is your most recent rate adoption resolution, if wastewater project.
Pledged Revenues and Fund(s) Resolution (F6)	Form	No sample exists	Federal law requires applicants to establish a dedicated source of revenue for repayment. The financing agreement will identify the pledge revenue(s) and fund(s) (PRF). The majority of CWSRF applications for wastewater projects are secured with "the Wastewater Enterprise fund and Net Revenues thereof". If your CWSRF financing agreement will also be secured with other PRFs such as special assessments or a special tax, the template language will need to be modified accordingly. If you are uncertain as to the appropriate wording, a draft version may be submitted with the initial application. A reserve fund may also be required.
Existing Related Debt (F7)	Form	No sample exists	Submit a schedule of all debt secured by the PRFs, along with a copy of each relevant debt document. This schedule will be an exhibit to the CWSRF debt (senior, parity, or subordinate). If the applicant has not other debt (except other CWSRF debt), the Authorized Representative must provide a letter stating this. In most cases, the CWSRF debt will be on priority with other existing related debt.
New Tax, Fee Charge Projections (if applicable) (F8)	No template exists	No sample exists	If applicable, provide budget projections based on proposed taxes, fees, charges or assessments.
Extended Term Financing Request (if applicable) (F9)	No template exists	No sample exists	If requesting extended term (21 to 30-year) financing, provide an affordability analysis and a useful life analysis to show that the useful life of the project is at least equal to or greater than the requested financing term and the requested financing term is necessary to make the project affordable.
Relevant Service Management, Operating, or Joint Powers Agreements (if applicable) (F10)	No template exists	No sample exists	If applicable, provide a copy of any relevant, service, management, operating or joint powers agreements and any amendments.
Future Capital Needs (if applicable) (F11)	No template exists	No sample exists	The applicant should describe any capital improvement plans and the long-term indebtedness needed to fund its future capital improvements. The applicant must provide any formal CIP it has to the Division.

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