Financial Feasibility studies

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Presentation transcript:

Financial Feasibility studies Brian Stavenger, CPA, Partner July 24, 2018

Presentation overview Financial Feasibility Study Components Challenges in the Application Process Missteps in the Application Process Questions and Discussion These seminar materials are intended to provide the seminar participants with guidance and a better understanding of the financial feasibility study. The materials do not constitute, and should not be treated as professional advice regarding financial feasibility studies. Every effort has been made to assure the accuracy of these materials. Eide Bailly LLP and the author do not assume responsibility for any individual's reliance upon the written or oral information provided during the seminar. Seminar participants should independently verify all statements made before applying them to a particular fact situation, and should independently determine consequences of any particular technique before recommending the technique to a client or implementing it on the client's behalf.

Financial Feasibility study Components Required for most Significant Debt Issuances Agreed-Upon Procedures, Compilation, and Examination Detailed Description and Evaluation of Project and Related Assumptions Business Plan for Management Industry Experience and Expertise is Necessary

Financial Feasibility study components Overall summary Financial statements Description of the organization Project description Financing plan Accounting policies Financial assumptions Market assumptions Sensitivity analysis

Financial Feasibility study components Financial Assumptions Understanding Financial Statements and Ratios Understanding Industry and Revenue Streams Understanding Current Economic Conditions and Marketplace Market Assumptions Understanding “Competition” Understanding Data Available Understanding Future Trends Management and Governance Evaluation Sensitivity Analysis

Challenges in the Application process Upfront Planning (Lack Thereof) Client, Architect, Advisors, etc. Financial Strength of the Applicant Historical Performance Project Size and Scope Balance Facility Needs with Capacity Understanding Terms Cash Flow Non-Project Related Initiatives Information Technology Recruitment

Missteps in the application process Preliminary Architectural Feasibility Report Debt Structure / Test for Other Credit Direct vs. Guaranteed Terms and Rates Existing Debt Timing and Updates to the Forecast Construction Costs Interest Rates Updated Financial Information

QUESTIONS and Discussions

Brian Stavenger, CPA Partner bstavenger@eidebailly.com 701.239.8518 THANK YOU Brian Stavenger, CPA Partner bstavenger@eidebailly.com 701.239.8518