Financial Statement Analysis of CVP Contractors

This report provides an analysis of the condensed financial statements of the 10 largest Central Valley Project (CVP) irrigation contractors in the San Joaquin Valley (Valley). The 10 were selected because of their size measured by CVP water deliveries, relative to both aggregate CVP deliveries in the Valley and for all of California.

The report includes, for those contractors, a summary of those financial statements for eight years, respective net capital repayment obligations, and acre-feet (AF) of water delivered.

This is the third of several written reports which ENTRIX will complete relative to CVP Financing and Repayment Issues. Subsequent reports will include an analysis and discussion of the generation and distribution of hydroelectric power from CVP facilities and a comprehensive document summarizing revised forms of all reports submitted.