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Home My WebLink AboutHealy_Reb_Exhibits 26-30.xlsSheet16 Sheet15 Sheet14 Sheet13 Sheet12 Sheet11 Sheet10 Sheet9 Sheet8 Exh 30 Exh 28 Exh 27 Exh 26 (5 of 5) Calc of Rev Req Exh 26 (4 of 5) Inc Tax Exh 26 (2&3 of 5) Ops Results Exh 26 (1 of 5) RateBase Page Page Page Page Page Page Page Page Page UNITED WATER IDAHO Calculation of Real and Personal Property Taxes September 30, 1999 Rebuttal Position Line No. Description Amount 1. Adjust Ad Valorem Tax 2. To adjust the amount of Property Tax expense $104,451.18 based on current appraisal and levy rates Details 3. Net Appraised Value as of January 1, 2000 based on Idaho State Tax Commission appraisal report $77,291,072.00 4. Most Recent Levy Rate based on 1999 taxes 0.02 5. Pro Forma Level of Ad Valorem Tax Expense $1,341,405.18 6. Test Year Expense $1,236,954.00 7. Adjustment $104,451.18 Exhibit No. 30 Case No. UWI-W-00-1 Healy, Company UNITED WATER IDAHO Details of Adjustments to Operation and Maintenance Expense At Present Rates Rebuttal Position Line No. Description Amount 1. Adjustment of Purchased Power Cost 2. To adjust purchased power cost based on test year usage and Idaho $9,815.00 Power Company rates in effect May 16, 2000 Details 3. Rate Schedule 07 $23,942.00 4. Rate Schedule 09 1066261.00 5. Rate Schedule 40 24.00 6. 7. Pro Forma Purchased Power $1,090,227.00 8. Test Year Expense $1,080,412.00 9. Adjustment $9,815.00 Exhibit No. 28 Case No. UWI-W-00-1 Healy, Company UNITED WATER IDAHO Details of Adjustments to Operation and Maintenance Expense At Present Rates Rebuttal Position Line No. Description Amount 1. Adjustment of Employee Health Care , LTD and Group Term Life Insurance Cost 2. To adjust employee health care, LTD and GTL cost $35,376.61 to the current level of such cost. Details 3. Pro Forma Net Monthly Health Care, LTD and GTL Premium $43,481.00 based on 98 employees 4. Frequency of Billing 12.00 5. Annual Health Care, LTD and GTL cost 521772.00 6. Monthly Premium per Employee $443.68 98.00 12.00 7. Frequency of Billing 12.00 8. Annual Cost per Employee 5324.20 9. Additional new employees 3.00 10. Additional Health Care, LTD and GTL Cost 15972.61 11. Pro Forma Health Care Cost (line 5+line10) $537,744.61 12. Test Year Expense $502,368.00 13. Adjustment $35,376.61 Exhibit No. 27 Case No. UWI-W-00-1 Healy, Company United Water Idaho Calculation of Revenue Requirement Test Year Ended September 30, 1999 1.00 Rate Base $98,881,234.00 2.00 Required Rate of Return 0.09 3.00 Required Net Operating Income $9,047,632.91 4.00 Adjusted Net Operating Income Realized 7271366.00 5.00 Net Operating Income Deficiency $1,776,266.91 6.00 Net to Gross Multiplier*** 1.68 7.00 Gross Revenue Increase $2,988,877.04 *** Incremental Income Tax Net to Gross Multiplier Calculation 8.00 Net Operating Income Requirement 1.00 9.00 Less IPUC Assessment Rate (2000) 2.80E-03 10.00 Less Uncollectible Accounts Expense 3.40E-03 11.00 State Taxable Income Residual 0.99 12.00 State Tax Rate 0.08 13.00 Effective Net State Tax Rate(L11*L12) 0.08 14.00 Federal Taxable Income Residual(L11-L13) 0.91 15.00 Incremental Federal Income Tax Rate 0.35 16.00 Effective Net Federal Rate(L14*L15) 0.32 17.00 Composite- Uncollectibles,Fees & Taxes(add line 9,10,13 & 16) 0.41 18.00 Composite Residual(L8-L17) 0.59 19.00 Net to Gross Multiplier(L18\L8) 1.68 Exhibit No. 26 UWI-W-00-1 Page 5 of 5 Healy Rebuttal UNITED WATER IDAHO Computation of State and Federal Income Taxes At Present and Proposed Rates Line EXISTING PROPOSED No. RATES RATES (1) (2) 1. OPERATING INCOME BEFORE INCOME TAXES $9,093,896.00 $12,064,242.00 2. LESS: TAX DEDUCTIONS 3. Interest Expense (A) $4,224,317.06 $4,224,317.06 4. Excess Tax Over Book Depreciation (B) $1,677,238.00 $1,677,238.00 5. TOTAL TAX DEDUCTIONS $5,901,555.06 $5,901,555.06 6. Taxable Income-State $3,192,340.94 $6,162,686.94 7. State Income Tax at 8% $255,387.27 0.08 $493,014.95 0.08 8. Federal Taxable Income (L.1-L.3-L.7) $4,614,191.66 $7,346,909.98 9. Federal Income Tax at 35% $1,614,967.08 0.35 $2,571,418.49 0.35 10. Less: Amortization of ITC ($47,824.00) ($47,824.00) 11. NET FEDERAL INCOME TAX EXPENSE $1,567,143.08 $2,523,594.49 12. (A) CALCULATION OF INTEREST EXPENSE DEDUCTION: 13. Pro Forma Rate Base $98,881,234.00 14. Debt Percentage of Capitalization 0.57 15. Debt Portion of Rate Base 56174429.04 0.57 16. Debt Rate 0.08 17. INTEREST EXPENSE $4,224,317.06 18. (B) EXCESS TAX OVER BOOK DEPRECIATION: 19. Pro Forma Tax Depreciation $6,189,895.00 20. Pro Forma Book Depreciation $4,512,657.00 21. EXCESS TAX OVER BOOK DEPRECIATION $1,677,238.00 Exhibit No. 26 UWI-W-00-1 Page 4 of 5 Healy Rebuttal United Water Idaho Results of Operations Rebuttal Position (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> <<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>> Per Company Staff Adj Company Staff Adj Staff Adj Staff Adjust Company Co Rebuttal Update Co Rebuttal Update Co Rebuttal Update Co Rebuttal Update Company Revenue Company Exhibit No. 11 Correct Company Corrected Position Eliminate Project Eliminate Project Correct IPUC Position Health Care Benefits Purchased Power Property Tax Depr Impact Adjusted Adjustment Rebuttal Column 4 Tax Calculation Tax Calculation C00J001 C00B001 Assessment After Uncontested Idaho Power PCA Based on 2000 C00A106 Rebuttal Proposed Rates for Interest Synchro. for Interest Synchro. Maint Software Chlor Equip Staff Adjustments Appraisal Collector #3 Rehab Existing Rates Rev Staff Exh No. 111 Rev Staff Exh No. 111 Rev Staff Exh No. 111 Rev Staff Exh No. 111 Healy Healy Healy Brown Page 1 of 2, Col B Page 1 of 2, Col C Page 1 of 2, Col D Page 1 of 2, Col H Rebuttal Rebuttal Rebuttal Rebuttal 1.00 Operating Revenues $26,412,890.00 26412890.00 $26,412,890.00 26412890.00 $2,988,877.00 $29,401,767.00 Operating Expenses: 2.00 Operations & Maintenance $11,031,562.00 11031562.00 5282.00 $11,036,844.00 -33821.00 89282.00 11092305.00 18531.00 11110836.00 3.00 Depreciation Expense 4518388.00 4518388.00 ($3,200.00) ($4,250.00) $4,510,938.00 $1,719.00 4512657.00 4512657.00 4.00 Amortization of PHFU 5.00 Amortization of UPAA 9328.00 9328.00 $9,328.00 9328.00 9328.00 Taxes Other Than Income: 6.00 Ad Valorem 1206079.00 1206079.00 $1,206,079.00 135325.00 1341404.00 1341404.00 7.00 Payroll 363300.00 363300.00 $363,300.00 363300.00 363300.00 8.00 Total Operating Expense $17,128,657.00 0.00 $17,128,657.00 -3200.00 -4250.00 5282.00 $17,126,489.00 -33821.00 89282.00 135325.00 1719.00 $17,318,994.00 18531.00 17337525.00 9.00 Operating Income Before Income Taxes $9,284,233.00 $0.00 $9,284,233.00 $3,200.00 $4,250.00 ($5,282.00) $9,286,401.00 $33,821.00 ($89,282.00) ($135,325.00) ($1,719.00) $9,093,896.00 $2,970,346.00 $12,064,242.00 Income Taxes: 10.00 State Income Taxes 299756.00 -29062.00 270694.00 255387.00 237628.00 493015.00 11.00 Federal Income Taxes 1743721.00 -116975.00 1626746.00 1567143.00 956451.00 2523594.00 12.00 Utility Operating Income $7,240,756.00 ($146,037.00) $7,386,793.00 $7,271,366.00 $1,776,267.00 $9,047,633.00 13.00 Rate Base $98,992,133.00 $98,992,133.00 $98,881,234.00 $98,881,234.00 14.00 Rate of Return on Rate Base 0.07 0.07 0.07 0.09 Rate Increase 0.11 Exhibit No. 26 UWI-W-00-1 Page 3 of 5 Healy Rebuttal Exhibit No. 26 UWI-W-00-1 Page 3 of 5 Healy Rebuttal United Water Idaho Calculation Of Rate Base Rebuttal Position (A) (B) (C) (D) (E) (F) Per Company Staff Adj Staff Adj Staff Adj Company Adj Company Ex.15, Eliminate Project Reduce Project Eliminate Project to Reflect aaditional Rebuttal Page 1 of 8 C00J001 C98A004 C00B001 cost of C00A106 Rate Base Maint Software Water Rights Chlor Equip Collector #3 Rehab 1.00 Utility Plant in Service $175,011,604.00 -16000.00 -70000.00 -85000.00 60100.00 $174,900,704.00 Less: 2.00 Accumulated Depreciation -40598443.00 -40598443.00 3.00 Net Utility Plant $134,413,161.00 ($16,000.00) ($70,000.00) ($85,000.00) $60,100.00 $134,302,261.00 Less: 4.00 Customer Advances for Construction -5850608.00 -5850608.00 5.00 Contributions in Aid of Construction -26908210.00 -26908210.00 6.00 Utility Plant Aquisition Adjustment 628595.00 628595.00 7.00 Accumulated Deferred Income Tax -6456432.00 -6456432.00 8.00 Pre 1971 Investment Tax Credits -19808.00 -19808.00 0.00 Plus: 0.00 9.00 Deferred Charges 946112.00 946112.00 10.00 Working Capital 2239324.00 2239324.00 11.00 Total Rate Base $98,992,133.00 1.00 ($16,000.00) ($70,000.00) ($85,000.00) $60,100.00 $98,881,234.00 Exhibit No. 26 UWI-W-00-1 Page 1 of 5 Healy Rebuttal