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78 <br /> Orange County Transit Plan April 25, 2017 <br /> GoTriangle will maintain reserves for 0&M and debt service As for debt service, the LOBS assume a reserve equal to 10 <br /> using Tax District Revenue. percent of the initial amount borrowed.The TIFIA loan assumes <br /> a reserve that is the lowest of: a) 10 percent of initial amount <br /> • • borrowed, b) the maximum annual debt service, or c) 125 <br /> percent of the average annual payments. <br /> The 2017 Plan assumes GoTriangle will maintain cash reserves <br /> ir <br /> for 0&M equivalent to 25 percent of its annual system 6 Cash Flow SurnmEw <br /> operating budget, including allocations made by the Tax District <br /> to the transit providers for bus operations and maintenance. Figure 5.5-1 shows the projected cash balance of the 2017 Plan <br /> This reserve can be used to accommodate unexpected from fiscal year 2017 through fiscal year 2045.The cash balance <br /> increases in operating costs or temporary revenue shortfalls. in the first year reflects the amount of local transit tax revenues <br /> GoTriangle could also supplement 0&M funding with its cash that have been reserved during the Project Development phase <br /> balance. of the D-0 LRT Project. This balance will be used to cash fund <br /> engineering activities in fiscal years 2018 and 2019. At the end <br /> of 2019, the 2017 Plan anticipates the first disbursement of <br /> state funds for the project, followed by a federal Full Funding <br /> Figure 5.5-1. Cash Balances(YOE) <br /> $45,000,000 <br /> $30,000,000 <br /> $15,000,000 <br /> I <br /> $0 ! <br /> tiA ti� ti� do ,yti ,yti ti3 y° �`' ti� tiA ti� ti� ,�° 3ti �ti �3 �°` �`' ,�� �� �� �� �° t 'N t'' p, <br /> T do do do do do ,yo T ,yo ,yo do do ,yo do ,yo do do do do T, ,yo ,yo T ,yo ,yo ,yo ,yo yo �o <br /> Final Page 54 of 65 <br />