Reclamation will consider the following factors:
(a) Economic factors for the project area, relative to the state average, including:
(1) Per capita income;
(2) Median household income; and
(3) The poverty rate;
(b) The ability of the project sponsor to raise tax revenues or assess fees such as user fees and ad valorum taxes or issue bonds;
(c) The strength of the project sponsor financial statements in comparison to other similar entities over the previous 4 years, including a review of:
(1) Current (includes cash and inventory) and non-current assets (property, plants etc.);
(2) Net Assets (total assets minus total liabilities);
(3) Changes to net assets;
(4) Operating revenues (water and power sales);
(5) Operating expenses (variable costs and depreciation, maintenance and repair);
(6) Cash flow from operating activities (positive value from water sales minus payments to supplies and employees);
(7) Current (current bonds payable and accounts payable) and non-current liabilities (long term debt payable);
(8) Outstanding debts and all other financial obligations;
(9) Collateral/equity as appropriate;
(10) Cash flows from capital and related financing activities (negative value from principle paid on bonds and interest payments);
(11) Net cash flow; and
(12) Any non-operating revenues and expenses;
(d) Funding commitments from non-Federal sources, other than the non-Federal project sponsor, including resources committed by state, county, or local governments;
(e) The existing cost of water and the cost to develop new water supplies in the region; and
(f) The impact of the proposed project on water rates;
(g) The projected impact of the proposed project on the non-Federal project sponsor's ability to raise or generate revenues;
(h) The non-Federal project sponsor's financial history including their past performance on repaying loans and other debts; and
(i) Any other financial means of the non-Federal project sponsor that is not captured in this subsection.