20150521Doherty Direct.pdf

ORICINAL
Dean J. Miller (ISB #1968)
McDEWIT & MILLER LLP
420 West Bannock Street
P.O. Box 25&-83701.
Boise, D 83702
Tel: [phone]
Fax: [phone]L2
i [e-mail]
Attorney s for Applicant
IN THE MATTER OF THE APPLICATION
OF UNITED WATER IDAHO INC. FOR
AUTHORITY TO INCREASE ITS MTES
AND CHARGES FOR WATER SERVICE
IN THE STATE OF IDAHO
Fff 213t
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
Case No. UWhW-15-01
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
D]RECT TESTIMONY OF KEVIN H. DOHERW
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Please state your name and business address.
Kevin Doherty. My business address is 200 Old Hook Road, Harrington
Park, New Jersey 07640.
By whom are you employed and in what capacity?
I am employed by United Water Management and Services lnc. (UWM&S)
as Director-Regulatory Business.
Please describe your work experience.
Prior to joining United Water, from 1987 to 1989, I was employed by
Arthur Young and Company as a Staff Auditor. I participated in audits for
clients in the manufacturing, energy, and defense industries. I was
employed by Citizens Communications Company beginning in 1989.
From 1989 until 1994, lheld the position of Senior Capital Asset
Accountant, responsible for preparation of various plant in service and
depreciation reports, and I provided data for rate proceedings and certain
bond indenture requirements. ln 1994, I was promoted to Senior
Regulatory Accountant and participated in rate proceedings in the states
of Ohio and lllinois. ln 1995, lwas promoted to Regulatory Specialist, and
testified on rate base in rate proceedings in the states of Pennsylvania
and Arizona. ln 1999, laccepted a position as Manager of Regulatory
Accounting and testified on rate base and certain operating expenses in
the states of Vermont and Arizona. I joined United Water in 2003 and
have filed testimony on behalf of United Water in the states of ldaho,
Arkansas, Delaware, New Jersey, New York and Pennsylvania.
Doherty, Di 1
United Water Idaho Inc.
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Please summarize your educational background.
I graduated from Pace University in 1987 with a Bachelor of Business
Administration degree in Accounting, and have completed Pace
University's MBA program in Financial Management. I have attended
seminars and presentations that addressed accounting, rates and other
financial matters.
What is the purpose of your testimony?
The purpose of my testimony is to describe and present the calculation of
the revenue deficiency and the resulting request for rate relief, and
sponsor the calculation of Rate Base for the test year ending December
31, 2014 with proforma adjustments through November 30, 2015 for
United Water Idaho ("United Water" or "The Company"). Additionally, I am
sponsoring the calculation of the Company's Depreciation Expense for the
test year ending December 31, 2014 with proforma adjustments through
November 30, 201 5.
What level of increase is being sought by the Company in this
proceeding?
United Water is seeking a revenue increase of $5,881,914 or 13% over
current rates for the proforma period ending November 30, 2015.
Company witness Wyatt will be discussing the drivers of this increase.
What rate of return on rate base is this rate increase based upon?
It is based on an overall rate of return of 8.45o/o with a return on equity of
10.40o/".
Doherty, Di 2
United Water Idaho Inc.
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Have you prepared an Exhibit that shows the calculation of the
Company's proposed overall Rate of Return of 8.45o/"?
Yes. Exhibit 6, page 1 shows the capital structure of United Waterworks
along with the cost of debt as well as the return on equity of 10.40%. The
weighted average of these components is the 8.45% overall requested
rate of return.
Has the Commission previously approved the use of United
Waterworks' capital structure and cost of debt by the Company in its
rate case filings?
Yes it has. The Commission found the use of United Watenarorks' capital
structure and cost of debt to be reasonable for ratemaking purposes with
its Order No. 28505 in Case No. UWI-W-00-1.
Have you prepared from the Company's books and records a series
of exhibits depicting the Company's balance sheet and operating
income statement for the twelve months ended December 31,2014?
I have prepared Exhibits Numbered 7 and 8 illustrating the Company's
Balance Sheet (Exhibit No. 7) and Operating lncome Statement Per
Books (Exhibit No. 8) as of December 31,2014.
Have you prepared an exhibit that indicates the pro forma operating
income for the Company at existing and proposed rates?
Yes. I have prepared Exhibit No. 9, which is titled "Statement of Operating
lncome Per Books and Pro Forma under Present and Proposed Rates For
The Twelve Months Ending November 30, 2015".
Doherty, Di 3
United Water Idaho Inc.
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Column 1 of Exhibit No. 9 identifies the schedule on Exhibit Numbers 5, 6,
10 and 1 1 that detail the adjustments to the test year results indicated in
aggregate fashion on Exhibit No. 9. Column 2 of Exhibit No. 9 indicates
the elements of operating income: operations and maintenance expense,
depreciation and amortization expense, taxes other than income and
income taxes. The amounts therein are per books, as shown on Exhibit
No. 10. Column 3 of Exhibit No. 9 shows a summary of test year
adjustments made to revenues and expenses. The adjustment to
operating revenue shown on line 1 is detailed on Exhibit 5 and will be
explained by Witness Herbert. The adjustments to operation and
maintenance expenses, summarized on line 2, are detailed on Exhibit No.
10, Schedule 1 and they will be explained by Witness Cary. The
adjustments to depreciation expense and amortization of utility plant
acquisition adjustments summarized on lines 3 and 4 are detailed in
Exhibit No. 10, Schedule 2, pages 1 and 2, and will be explained later in
my testimony. The adjustments to operating taxes summarized on lines 6
and 7 are detailed in Exhibit No. 10, Schedule 3, pages 1 to 3, and will be
explained by Witness Cary. Column 4 of Exhibit No. 9 shows the adjusted
operating income at existing rates for the test period. Column 4 also
indicates that based on the test year adjustments made, the Company will
earn a 6.430/" overall rate of return on its rate base investment as of
November 30, 2015 with known and measurable adjustments taken into
consideration. Column 5 of Exhibit No. 9 indicates the adjustments to
Doherty, Di 4
United Water Idaho Inc.
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operating revenue, operation and maintenance expenses, and income
taxes under the increased rates proposed by the Company herein. The
adjustment to operating revenues of $5,881 ,914 was computed using an
8.45"/" rate of return on rate base. Column 6 of Exhibit No. 9 illustrates
the adjusted operating income necessary to produce the requested rate of
return,8.45o/o. The income taxes shown on lines 11 and 12 were
computed as indicated on Exhibit No. 10, Schedule 4, and will be
explained in conjunction therewith.
Returning to Golumn 3 of Exhibit No. 9, please explain the
adjus-tments to operating expenses?
Operation and maintenance expenses have been increased by
$1,933,051 (Exhibit 9, line 2). Depreciation and amortization expense
have been increased by $87,096 (Exhibit 9, line 5). Property Taxes have
been increased $109,634 (Exhibit 9, line 6). Payroll taxes have been
decreased $38,754 (Exhibit 9, line 7). Federal income taxes have been
increased by $529,309 and State income taxes have been increased by
$86,550 (Exhibit No. 9, lines 1 1 & 12).
The detailed support for the operating expense adjustments are shown on
the four Schedules following the Exhibit 10 Summary. Schedule 1, pages
1 to 26, provides detail for adjustments made to operation and
maintenance expenses that are explained by Witness Cary. Schedule 2,
pages 1 and 2, provides detail for adjustments to depreciation and
amortization expense. Schedule 3, pages 1 to 4, provides detail for
Doherty, Di 5
United Water Idaho Inc.
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adjustments to property and payroll tzxes. Schedule 4, page 1 provides
detail for adjustment of State and Federal income tax expense. Page 2 of
Schedule 4 shows the methodology I employed to compute the "Net to
Gross Multiplier" utilized in this case to gross up the Net Operating lncome
deficiency.
Please explain Exhibit No. 10, Schedule 2.
Exhibit No. 10. Schedule 2 consists of two pages indicating the
depreciable basis of Utility Plant by primary account, net of contributions
and advances (advances for construction are classified as non-
depreciable property until the Company acquires an investment in the
property through the payment of refunds on advances as required by
Order No. 28505 in Case UWI-W-00-1), the depreciation rate for each
plant account and the annual depreciation expense by primary account.
The depreciation rates utilized are the same as those used in prior rate
case filings and also including a 1Oo/o rala, representing a ten-year useful
life, for the CC&B system as approved by the Commission in its Order in
Case UWI-W-11-2. These assets are included in account 340-540, New
CIS System. Pro forma annual depreciation expense of $8,630,246 is
summarized at the bottom of the schedule, and the amortization of certain
utility plant acquisition adjustments that have previously been approved by
the IPUC of $19,745 (the calculation of this amortization is shown on
Exhibit 11, Schedule 7) is added. The total depreciation and amortization
of $8,649,951 is then compared to depreciation and amortization expense
Doherty, Di 6
United Water Idaho Inc.
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recorded in the test year of $8,543,110. The difference between the
proforma and recorded amounts yields an adjustment of $92,517.
Please explain Exhibit No.10, Schedule 3.
Exhibit No. 10, Schedule 3, shows the adjustments to both test year
property and payroll taxes and is explained by Witness Cary.
Please explain Exhibit No. 10, Schedule 4.
Exhibit No. 10. Schedule 4. Page 1 of 2 shows the calculation of State and
Federal income taxes at both existing and proposed rates. The amounts
shown on line 1 of columns 1 and 2 are the same as the amounts shown
on line 10 of columns 4 and 6 on Exhibit No. 10. These figures represent
operating income before income taxes. From these figures the applicable
statutory deductions must be deducted when computing the State and
Federal income taxes.
The first deduction is interest expense and it is deductible in the
computation of both State and Federal taxable income. The calculation for
the interest deduction is shown in Note A on lines 1 1 through 15. The
deduction of interest expense is shown on line 2.
The second deduction is the excess of pro forma tax depreciation over pro
forma book depreciation. The excess tax depreciation is deducted from
State taxable income only since State income taxes are calculated on the
basis of flowthrough accounting while Federal income taxes are
calculated on the basis of normalization accounting. Lines 17, 1B and 19
indicate the amounts used in determining excess tax depreciation.
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United Water Idaho Inc.
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The remaining calculations are self-explanatory except for the
amortization of investment tax credit shown on Line 9. Federal income tax
expense was reduced by the amortization of ITC that is amortized ratably
over the lives of the assets and represents 2o/o of the ITC claimed from
1971 through 1999.
Please explain the adjustment shown on line 2, Column 5 of Exhibit
No.9.
The adjustment shown on line 2, Column 5 of Exhibit No. 9 represents
additional uncollectible expense and IPUC assessment as a result of the
pro forma adjustment to operating revenue shown on line 1, Column 5 of
Exhibit No. 9,
Does this conclude your testimony regarding operating expenses?
Yes.
Please address your rate base testimony.
The Company was directed by the Commission in Case UWI-W-04-04,
Order Nos. 29838 and 29871, to file future rate cases utilizing a thirteen-
month average rate base methodology.
Has the Company complied with the Gommission directive stated
above?
Yes. The Company has computed rate base using essentially the same
methodology as was used by the IPUC Staff and approved by the
Commission in Case No. UWI-W-04-04. Major elements of rate base,
namely: plant in service, accumulated depreciation, contributions in aid of
Doherty, Di 8
United Water Idaho Inc.
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construction, advances for construction and utility plant acquisition
adjustments are all thirteen-month averaged. Working capital is computed
as of the Company's December 31,2014 balance sheet. Deferred debits
are not averaged but are included in rate base at their anticipated balance
as of November 30, 2015 the end of the proforma period.
What is the level of rate base the Company is requesting in this
proceeding?
The rate base is $173,322,068. Company Witness Greaves discusses the
plant in service additions that are a part of the reason for the increase in
his direct testimony.
Please explain Exhibit 11, Schedule 1, Page 1 of 1.
Exhibit 11. Schedule 1. Paoe 1 of 1, Rate Base Summary, shows the
elements of the Company's rate base as of November 30, 2015, using the
thirteen-month average methodology. The elements of rate base are as
follows: Utility Plant in Service; Accumulated Depreciation; Customer
Advances for Construction; Contributions ln Aid of Construction; Net Utility
Plant Acquisition Adjustments; Accumulated Deferred lncome Taxes; Pre-
1971 lnvestment Tax Credits; Deferred Charges and Working Capital.
Please explain Exhibit 11, Schedule2, Page 1 of 1.
Exhibit 11. Schedule 2, Page 1 of 1. Thirteen-Month Average Worksheet,
shows the monthly balances from November 30, 2014 to November 30,
2015 for those rate base components that are thirteen-month averaged.
Monthly balances are carried forward to this schedule from the supporting
Doherty, Di 9
United Water Idaho Inc.
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schedules for Plant in Service (Schedule 3), Accumulated Depreciation
and Amortization (Schedule 4), Customer Advances for Construction
(Schedule 5), Contributions in Aid of Construction (Schedule 6), Utility
Plant Acquisition Adjustment (Schedule 7) and Pre-1971 lnvestment Tax
Credits (Schedule 8). Schedule 2 shows the thirteen-month average
calculation of the balances from the respective schedules.
Please explain Exhibit 11, Schedule 3, Pages 1 through 3.
Exhibit 11. Schedule 3. Pages 1 through 3 shows the Company's Utility
Plant balance as of December 31 , 2014 by plant account. Schedule 3 then
summarizes the forecast plant additions and retirements by plant account
from January 2015 through November 2015. Witness Greaves' Exhibit 3
forms the basis for the plant activity shown on this schedule. The thirteen-
month average of Utility Plant in Service is $388,903,851.
Please explain Exhibit 11, Schedule 4, Page 1 of 1.
Exhibit 11, Schedule 4. Page 1 of 1 shows the Company's Accumulated
Depreciation and CIAC Amortization. The schedule shows the recorded
amounts for these rate base components for the months of November
2014 through March 2015. For the months beginning in April 2015, I
calculated a monthly incremental amount for both accumulated
depreciation and amortization of CIAC. To these monthly amounts, I
added any retirement, cost of removal or salvage information provided by
Witness Greaves, forming a balance for accumulated depreciation and
amortization of CIAC for the months of April through November 2015. The
Doherty, Di 10
United Water Idaho Inc.
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thirteen-month average of accumulated depreciation is $102,018,109,
while the thirteen-month average for amortization of CIAC is $29,41 1,792.
Please explain Exhibit 11, Schedule 5, Page 1 of 1.
Exhibit 11. Schedule 5. Page 1 of 1 summarizes change to advances for
construction for the test year. Since the issuance of Order No. 28505 in
case UWI-W-00-1, the Company does not depreciate advanced property.
This requires the Company to accurately track, by associated plant
account, all additions and refunds impacting the advance account. The
thirteen-month average balance of advances for construction is
$5,099,264.
Please explain Exhibit 11, Schedule 6, Page 1 of 1.
Exhibit 11, Schedule 6. Paqe 1 of 1 indicates activity in Contributions in
Aid of Construction (CIAC) during the test period. Like advances for
construction, CIAC funded assets are not depreciated for rate- making
purposes. The thirteen-month average balance of net CIAC is
$74,811,580.
Please explain Exhibit 11, ScheduleT, Page 1 of 1.
Exhibit 11. Schedule 7. Page 1 of 1 indicates the net change to the
balance of Utility Plant Acquisition Adjustment (UPAA). The UPAA gross
balance is comprised of both debit and credit balances. The gross value of
the six individual UPAA, all approved by the Commission in various
proceedings, is a positive $600,762. As of November 30,2015, the net
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United Water Idaho Inc.
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balance will be
$486,669.
the thirteen-month average balance is
Please explain Exhibit 11, Schedule 8, Page 1 of 1.
Exhibit 11. Schedule 8. Page 1 of 1 indicates the composition of
Accumulated Deferred lncome Taxes (ADIT) at the end of the test period.
The tax depreciation portion of this account was adjusted for assets in
service as of November 30, 2015. The balance of ADIT excludable from
rate base for rate-making purposes is $10,862,742.
Please explain Exhibit 11, Schedule 9, Page 1 of 1.
Exhibit 11. Schedule 9. Page 1 of 1, represents the activity related to the
remaining pre-1971 investment tax credits that are deducted from rate
base and amortized at a rate of $870 annually. The balance at November
30, 2015 will be $1,069. The thirteen-month average balance is $1,504.
Please explain Exhibit 11, Schedule 10, Page 1 of 1.
Exhibit 11. Schedule 10, Page 1 of 1, identifies the deferred items the
Company has included in rate base. The total balance is $2,377,014. Of
this balance, $1,596,599 is the net unamortized balance of deferred items
included in rate base from the Company's four previous rate cases. The
$780,415 of new deferred charges requested for inclusion in rate base in
this proceeding is comprised of four line items. First is the estimated cost
of preparing and presenting the current case of $170,000. Next is the cost
incurred by the Company to paint the interior of the Gowen tank. The cost
of this project was $208,040. As explained by Witness Cary, the Company
Doherty, Di 12
United Water Idaho Inc.
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is requesting a twenty year amortization of this expenditure, in line with the
amortization of tank paintings granted in case UWI-W-04-04 as well as in
the stipulations for the 2006, 2009 and 2011 rate cases. AIso included is
the Company's request to earn a return on relocation costs of $58,629
associated with the 2013 hiring of an Engineer position. Witness Cary
reflects the requested amortization of these costs in her Operating
Expense exhibits. Finally, the Company is reflecting a $343,746 increase
to its deferred debit account that represents additional AFUDC equity tax
gross-up for the period between the 2006 rate case and the end of the test
year in this case. These dollar amounts have been moved out of plant-in-
service pursuant to Order No. 29838 in Case UWI-W-04-04.
Please explain Exhibit 11, Schedule 11, Pages 1 through 6.
Exhibit 11. Schedule 11, Pages 1 through 6 indicates the calculation of the
allowance for working capital prepared by the Company using the balance
sheet dated December 31, 2014. The same methodology used in Case
UWI-W-11-02 was employed in the instant case. The working capital
allowance included in rate base is $3,759,525.
Does this conclude your direct testimony?
Yes.
Doherty, Di 13
United Water Idaho Inc.
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Dean J. Miller (lSB 1968)
McDEVITT & MILLER LLP
420 West Bannock Street
P.O. Box 2564-83701
Boise, lD 83702
Tel: [phone]
Fax: [phone]
ioe@mcdevitt-m i I ler. com
Attorneys for Applicant
IN THE MATTER OF THE APPLICATION
OF UNITED WATER IDAHO !NC. FOR
AUTHORITY TO INCREASE ITS RATES
AND CHARGES FOR WATER SERVICE
IN THE STATE OF IDAHO
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
Gase No. UWI-W-15-01
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
EXHIBIT TO ACCOMPANY THE
DIRECT TESTIMONY OF KEVIN DOHERTY
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iS
United Water ldaho
Balance Sheet Per Books
December 31,2014
Case No. UWI-W-I5-01
LineNo. Assets
Utility Plant1 Water Plant in Service2 Retirement Work in Progress3 Plant Held for Future Use4 Construction Work in Progress5 Utility Plant Acquisition Adjustment6 Less: Accumulated Depreciation and Amortization
7 Net Utility Plant
lnvestments
Other lnvestments
Equity Earnings Non-Consolidated Companies
Total lnvestments
Current Assets
1 1 Cash'12 Accts/Notes Receivable - Customers13 Other Receivables14 Provision for Uncollectable Accounts
15 lntercompany Money Pool Receivable16 Material & Supplies lnventory
17 Prepaid Expenses
18 Accrued Utility Revenue'19 Total Current Assets
Deferred Debits
Deferred Rate Case Expense
Other Defened Charges
Total Deferred Debits
Total Assets
380,682,967
0
11,054II
10
99,954
111,008
50,950
1,217,183
263,096
(88,867)
2,61 5,163
335,504
6,570
2,843,187
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
41
Cap ital izati o n a nd Li abi I ities
Capital
Common Stock lssued
Additional Paid-in Capital
Retained Earnings
Total Equity Capital
Liabilities
Accounts Payable
Notes Payable
Customer Deposits
Accrued Other Taxes Payable
Accrued lncome Taxes Payable
Misc Current & Accrued Liabilities
Advances for Construction
Other Deferred Liabilities
Accumulated lnvestment Tax Credits
Operating Reserves (Pension & Benefits)
Contributions in Aid of Construction
Accumulated Amortization of CIAC
Accumulated Deferred lncome Tax
Total Liabilities
Total Liabilities & Capital
1,261 ,750
76,704,330
2,298,183
0
0
1,101 ,518
3,549,442
830,222
5,276,606
9,571,012
808,594
10,103,728
102,188,1 14
(28,463,534)
3,385,008
1 10,648,894
Crse No. UWI-W-I5-01
Exhlbit No. 7
Page I of 1
K.Doherty
5,571 ,678
600,761
(128J 5s,947)
258,699,460
United Water ldaho
Statement of lncome
For the Twelve Months Ended December 31,2014
Case No. UWI-W-15-01
Line
No.
1
2
3
4
5
6
7
Operating Revenues
Operating Expenses
Operation and Maintenance Expense
Depreciation Expense
Amortization, Utility Plant Acquisition Adjustment
Taxes Other Than lncome Taxes
lncome Taxes
Total Operating Expenses
Net Operating Hevenues
Gains (Losses) from Disposition of Utility Plant
Utility Operating lncome
$ +5,742,657
16,s10,717
8,543,110
9,324
2,366,764
5,675,283
33,105,198
12,637,459
42,354
$12,679,813
Case No. UWI-W-I5-01
Exhibit No. 8
Page 1 of 1
K.Dohefty
B
I
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Unltsd Water ldaho
Calculatlon o, Depreclatlon Expenss and Amortizatlon ot UPAA
Caee UWFW-Is-{tl
3t 3-20
30&2W
303-30
303-40
303-50
Plant Aocount Dcacripllon
301-10 Organizatlon
Organization-CIAC
Land & Land Rights - Source oI Supply
Water Rlghls - Souroe of Supply
Land & tand Btlhts - Water Treatment
Land & Land Rights - Trans. & Dislrib.
Land & Land Rights - General Plant
Land and Land REhts{lAC
30rt-20 Structures and lmprovements - Sourco of Suppv
St & lmprv.-Source of Supply-CIAC
304-30 Structures end lmprovements - Water Treatment
304-40 Strudures and lmprovements - Trans, & Dlstrib.
304-50 Struc:lures and lmprovements - Gonsral Plant
305-20 Co[,ecting & lmpoundlng Rese]voirs - Source of Supply
Coll. & lmpound. Reservoirs-Sourco ol Supply-CIAC
'145,730
2,613309
4,42O,4'.t1
889,0:r4
888,898
213883
6,242986
15,659,286
2,303,276
3,303,071
1,172,321
8,443,265
60351
2,860,854
3,065,058
13,447,323
3,9r3,1 05
8,227,036
26,954,290
992,097
(335,756)
1267,2331
(6,s83)
(442,989)
.
(67r,56r)
(13,984
0,1ee.r91)
138,747
(9,878)
2,17O,32O
6,420,411
889,034
888,898
2I3,38:l
(335,756)
5,671,425
(267 2,331
t5,659,286
2,3,O3,276
3,303,071
0.00%
o.oo%
0.00%
0.00%
0.00%
0.00%
0.00%
0.oo%
2.OO%
2.OO%
2.OO.A
2,OO%
2.50%
2.@%
2.OA%
2.00%
2.86%
2.86%
2.OO%
2,OO%
2.00%
5.00%
5,00%
5,00%
0.oo%
5.00%
5.00%
5,00%
14-2a9t
5,00%
2.00%
2.OO&
0.00%
0.0096
2.OOf6
2.00%
2.501
250%
2.50%
2.50%
250%
2.50%
I 13,429
313,186
46,066
82,577
3o5.m
307-20
308-20
30s-20
310-20
31 1-20
31't-20
311-30
311-tO
3:!0-30
32{r-30
330"40
331-t0
3:lt-20
331-lO
Lake, River & Other lntakes
Wels & Sprlngs
Wells & SpringS-CIAC
lnlihration Galleries & Tunn6ls
Supply Mains
Supply Mains-CIAC
Pow€r G€noralion Equipment
Porver Electric Pumping Equipment - Sourco ol Supply
Eleciric Pump. Equip.-Source ol Supply-CIAC
Power Dissel Pumping Equipment - Source of Suppv
Povrer Pumping Equipment - Wate, Treatmonl
Po$,er Pumping Equipment - Trans. & Dislrib.
Water Treatment Equipmenl
Wator Tleatmenl Equipm6nt - Mombranes
Water Treatment Equipment-CIAC
Dislributlon Reservoirs & Standpipes
Dlslrlbutlon Reservoks & Standplpes-CIAC
Trans. & Distib. Mains & Accessories - lntangible
Trans. & Distrib. Mains & Accessories - SOS
Trans. & Oislrlb. Mains & Accessorl€s
T&D Malns & Accessodes-C|AC
(r,399,617)
(1,943,1 1 A
(1,279,9er)
171,638,441
(85,1 s4,91 1)
70,771,O21
(15,1s2,47n
13,1 15,144
(e4,2621
4,202,980- (1,090,644)
- cr2,695)- 1,172,321
039,780) 8,303,48s- 0,399,617)- 603s1(118,915) 2,741,939
- (epel)
- 3,065,058(656,551) 12,890.772- 0,943,117)
3,9't 3,105
4,27,036
26,940,3O9
992,097
(34,s70)
10,624,821
(1,279,991)
2344A
237,4AO
1,N7
54,839
153,253
644,539
(e7,156)
195,6s5
31 1,452
1 347,01s.
14r,671
(
0
212,496
3.386.505(2,313,215) 16g,X25,;27
- (8s,154,911)(298,06r) 70,472960- 115,152,47n- 13,115,144- (e4,262)
(6,986) 4,195,994- (1,090,644)
0333-lO Sorvlces
Servbes-CIAC334{0 MetBrs and Mgter lnsialhtions
Meters-CIAC
335-40 Hydrants
Hydrants-CIAC
1,761,824
(378,812)
327,879
(2,3s7)
't 04,900
|l27,2A61
Case No. UW-W-15-01
Exhibit No. 10
Schedule 2
Page 1 of2
K. Doherty
Gro'3 Plant h Ocprcclable
Sorulcc CIAC Advlnc.s Pl.nt D.pruclldon Deprcclatlon
Unlted Waler ldaho
Calculalion ol Depreciation Expense and Amortlzallon ol UPAA
Caso Uwl-W-15{1
Phnl
Accounl
Numbcr Plant Account De6cription
340-500
34GsAO
3rur-5AO
34G5HO
34G5t0
340-5SO
336-40 Bacldbw Prevention Devices
33s-10 Oiher Phnt & Misc. Equipment - lntangible
33&20 OtherPlant& Mbc. Equlpment-Sourceof Supply
330-30 Oth6r Phnt & Misc. Equipment - WaterTreatment
33840 Other Plant & Mlsc. Eguipmenl - Trans. & Distrib.39-50 Other Phnt & MIsc. Equipmgnl - Goneral Plent
Office Furniture and Equipment
Nsw CIS System
AM / FM System
Computer Equipment - Hardware
lT lnithtives
ComputBr Equipment - Software
Ollice Fumiture & Equipment-C|Ac
341-50 TransponatbnEquhment
342-50 StoresEquipmeril
343-50 Tools, Shop and Garage Equipment
343-50 Contined Space Monltor, Generator, Trench Shleld
344-50 LaboraloryEquipment
Laboratory EquipmentclAc
34s-so PowerOpeEtedEquhmont
345-50 PowerOp€ratedEquipmont
346-50 CommunlcationsEquipmenl
347-50 Miscellaneous Equipment
34740 Misce[aneousEquipment
348-50 OtherTanghlePropeny
348-50 Master Plan
TOTAL
Proforma DeFedaton ExpeGo
t oprechtlon ard Amrltsation R@rded al Oe€r$cr 3 1 , 20t 4
Protomr Adiurlm6nl
Amorlhatlon ol Utl0ty Plant Acquhltlon Adru8lrroor (Exh l,, Schz)
Total Depreciatlon and Arnortizallon of UPAA
s 8,630,246
8,543,1 t 0t 87,136
crcsr Plrnt ln Doprccleblo
Scrulcc CIAC Adyrncoa Plant Dcprccirtlon Deproclatlon
923,53;
5,226,07e
1,451,295
3,789,23i|
2,829,506
35,528
24,44
t,0r0,569
30?A2A
a1,574
3,269,604
62,571
30,426
1,860,839
(3e3)
{16,847)
(33,s22)
geg,sgs
5,225,O75
1451,295
3,789,233
2,829,506
(3e3)
35,528
24,444
1,0r0,569
3O7326
(1 6,847)
81,574
3,2s6,083
62,571
30,426
1,860,83S
o.0o%
0.00%
0.00%
o.0096
o.0o%
0.00%
6.67*
10.00%
0.00%
0.00%
10.00%
0.00%
6.6796
o,oo%
6.67%
6.67%
6.67%
6.67%
0.00%
0,00%
6.87%
0.00%
0,00%
2.00'6
10.00%
Case No. UW-W-15-01
Exhibit No. 10
Schedule 2
Page 2 of 2
K. Doherty
UNITED WATER IDAHO
Case UWI-W-I5-01
Computation of State and Federal lncome Taxes
At Present and Proposed Rates
Line
No.
PRESENT
RATES
(1)
$ 15,296,479
4,671,561
733,605
5,405J66
9,891 ,313
$ zst,zao
$ 9.873.178
$ 3,455,612
$ (48,240)
g_____3AAZilz
PROPOSED
RATES
(21
$ 21 ,'137,884
4,671,561
733,605
s-405J66
15,732,718
$ 1,195,697
$__l52t0s3z
$ 5,344,723
$ (48,240)
$___5296-48it
$ 173,322,068
44.698o/o
__-J7-4ZIS90
6.037"
$____4-6215CI1
$ 9,363,811
$ 8,630,206
$___J33.605
Case No. UWI-W-I5-01
Exhibit No. 10
Schedule 4
Page 1 of2
K. Doherty
1.OPERATING INCOME BEFORE INCOME TAXES
LESS:TAX DEDUCTIONS
lnterest Expense (A)
Excess Tax Over Book Depreciation (B)
TOTAL TAX DEDUCTIONS
Taxable lncome-State
State lncome Tax dt7.6o/"
Federal Taxable lncome (L. 1 -L.3-1.7)
Federal lncome Tax at 35%
Less: Amortization of ITC
NET FEDERAL INCOME TA)( EXPENSE
(A) CALCULATTON OF TNTEREST EXPENSE DEDUCTION:
Pro Forma Rate Base
Debt Percentage of Capitalization
Debt Portion of Rate Base
Debt Rate
INTEREST EXPENSE
(B) EXCESS TAX OVER BOOK DEPRECIATION:
Pro Forma Tax Depreciation
Pro Forma Book Depreciation
EXCESS TAX OVER BOOK DEPRECIATION (B)
2
3
4
5
6
7
B
I
10
11
12
't3
14
15
16
17
18
19
United Water ldaho
Case UWI-W-15-01
Calculation of Revenue Requirement & Net to Gross Multiplier
Flate Base
Required Rate of Return
Required Net Operating lncome
Adjusted Net Operating lncome Realized
Net Operating lncome Deficiency
Net To Gross Multiplier
Gross Revenue lncrease
Net Operating lncome Requirement
Less: IPUC Assessment Rate
Less: Uncollectible Accounts Expense
Rate Applicable to O&M Expense & IPUC Assessment
State Tax Rate
Effective Net State Tax Rate
Federal lncome Tax Residual
lncremental Federal lncome Tax Rate
Effective Federal Tax Rate
Composite:IPUC Fees, Uncollectibles & lncome Taxes
Composite Residual
Net to Gross Multiplier
173,322,068
8.45o/o
14,645,715
11,137,367
3,508,348
1.6765
_$__5,881911_
1.0000000
0.0024810
0.0044060
0.0068870
0.0760000
0.0754766
0.0823636
0.3500000
o.3211727
0.403536
0.596464
1.6765
5,881,914
40,509
443,947
1,889,1 10
2,373,566
3,508,349
5,881,914
$
$
$
Case No. UWI-W-I$01
Exhlblt No. t0
Schedule 4
Page 2 ot 2
K.Doherty
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United Water ldaho
Case UWI-W-I5{1
Summary of Net Utility Plant Acquisitlon Adiustments
Line No. Acquistion Description
Company
Proiect lD
lPUCOrder AmortizationMonth Perlod
Accumulated
UtilityPlant Amortization
Acquisition of UPAA Unamortized MonthlyAdiustment Through Balance at AmortizationAmount 11130114 11130114 Amounl
1 Warm Springs Mesa
2 Redwood Creek
3 lsland Woods
4 Raintree
5 South County Water
6 BarberWater
x00009
x0001 0
x0001 1
x00014
x00020
x00027
Aug-96
May-g5
Apr-95
Sep-00
Jan-99
Jan-99
20 Years
20 Years
20 Years
40 Years
40 Years
40 Years
$62,302
(1 10,249)
(1 79,67s)
(227,5s4)
1 ,009,01 1
($s7,1 ol )
1 08,868
176,678
81 ,128
(401,s33)
$5,201
(1,381)
(2,se7)
(146,466)
607,478
($260)
459
749
474
(2,102)
17
Annual Amortizatlon Amount $9,329
7
8I
10
11
Case No. UWI-W-I5-Ol
Exhlbit No. l1
Schedule 7
Page 1 of 1
K. Doherty
Monthly EndlngMonth Amorlizatlon Balance
November-14 $491,333December-14 ($777) 490,555January-ls (7771 4A9,778February-ls (7771 489,001
March-1s (777) 488,224
April-ls (777) 487,446
May-ls (7771 486,669June-1s (777) 485,891
July-1 5 (777) 485,1 14
August-1s (777\ 484,336Septemberls (7771 483,559October-1s (777) 482,782
1
United Water ldaho
Case UWI-W-15-01
Accumulated Deferred lncome Taxes as of November 30,2015
Account & Description
Accum ulated Deferred FIT-MACRS
Accumulated Deferred FIT Cost of Removal
Accumulated Deferred FIT AFUDC Equity
Def. FIT-Tank Painting
Def. SIT - Tank Painting
Def. SIT-AFUDC Equity
Def. S|T-Excess Deprec.
Def. SIT- Cost of Removal
Accumulated Deferred lncome Taxes at December 31,2O14
Pro Forma Tax Depreciation-State
Pro Forma Book Depreciation
Excess Tax Over Book Depreciation
State lncome Tax Rate
lncremental State Deferred lncome Tax
Pro Forma Tax Depreciation-Federal
Pro Forma Book Depreciation
Excess Tax Over Book Depreciation
Less: State Deferred lncome Tax
FederalAmount
Federal lncome Tax Rate
lncremental Federal Deferred lncome Tax
Total lncremental Deferred lncome Taxes
Total Deferred lncome Tax (Line 9 + Line 22)
Balance at Dec.
Pro Forma
Balance at
November 30,
201531.2014Line No.
1
2
3
4
5
6
7
B
9
10
11
12
13
14
15
16
17
1B
'19
20
21
22
23
$ 7,69'1,039
534,955
371,360
293,561
64,842
83,144
'1,577,341
105,765
-S 1o/12^oo?
$ 9,363,811
8,630,346
$ 733,565
7.60/"
55r751
$ 8,957,379
8,630,246
327,133
55.751
271,382
35.00%
94,984
150,735
10,862,742
Case No. UWI-W-I5-01
Exhibit No. 11
Schedule 8
Page 1 of 1
K.Doherty
United Water ldaho
Case No UWI-W-15-01
Pre-l971 lnvestment Tax Credit
Book Balance
Year Book Life at11l30l14
'1
2
3
4
5
6
1965 50 Years
1966 50 Years
1967 50 Years
1968 50 Years
1969 50 Years
23
134
272
803
707
176
136
't24
258
176
15
11
10
22
15
Case No. UWI-W-I5-01
Exhibit No. 11
Schedule 9
Page 1 of 1
K.Dohefi
7 Nov-14 $ 1,939
8 Dec-14 1 ,8679 Jan-15 1 ,79410 Feb-15 1,72211 Mar-15 1,64912 Apr-15 1,57713 May-15 1,50414 Jun-15 1 ,43215 Jul-15 1 ,35916 Aug-15 1 ,28717 Sep-15 1,21418 Oct-15 1 ,14219 Nov-15 1,069
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