20260424Comment_1.pdf

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4-24-2026 IPUC Case number SWS-W-25-02
I represent the Stoneridge Recreational Club Condominium Owners Association, Inc which is also known
as Stoneridge Resort. We are a separate entity and owned by approximately 4000+timeshare and
residential owners. We are rate payers on the water system. In reading part of the rationale for the rate
increase, it appears that the depreciation is being changed from a 30-year to a 7-year, concurrent with the
refinancing of the loan from the DEQ to the StoneRidge Utilities. I do not understand the process if the
utility owner has already been depreciating the loan over the years, with or without payment to the DEQ.
Theoretical overview of balance due:
1. 2018 IPUC report,filed by Chan Karupiah
• Long Term Debt is shown as$220,000(of$425,000)with the 2%interest.
2. Loan was after October 2004, so let's say Jan. of 2005
• Letter from DEQ shows terms of$26,210 yr(2%interest)x 20 years =$524,200 total with interest
• Around the 13-year threshold,the paydown should have been approximately$340,730 by 2018
(depending on origination date, etc.)
o Balance would be roughly$183,470
o Balance was$220,986 in December of 2018 (so it appears that the loan may have been in
arrears by$37,516 at the time of purchase?)
• Utility Company's recent report to IPUC shows long term debt of$100,000 so the utility had been
paying debt down since 2018.
o If they have a balance of$100,000,
■ then they paid $120,986 over 7 years, so estimated that they roughly paid $17,287
avg per month with balance of$100,000
If Loan payment of$26,210 a month x 7 years with payments of about$183,470 over this time had a
balance of$37,516 instead of$100,000, it does create a shortfall. Wouldn't a shortfall in loan payments
result in more funds being available to the operator during that period?
I realize there are many aspects of the financial evaluation of this proposed rate increase, and I trust the
IPUC staff to do its due diligence in all matters, but I just wanted to point out one component that was
perplexing me.
Keep in mind that the proposed rate does not just impact residential community members. The water
rate increase for Stoneridge Resort would be as follows:
Proposed Rates 2026 1 PUC
Existing2025-26 new rates rec center $ 115.50 $ 158.80 $ 1,905.60
rec center $ 115.50 $ 1,386.00 rec center $ 115.50 $ 158.80 $ 1,905.60
rec center laundry $ 115.50 $ 1,386.00 park $ 205.00 $ 282.26 $ 3,387.12
park $ 205.00 $ 2,460.00 bldg6 $ 205.00 $ 282.26 $ 3,387.12
bldg 6 $ 205.00 $ 2,460.00 bldg 7 $ 205.00 $ 282.26 $ 3,387.12
bldg 7 $ 205.00 $ 2,460.00 bldg 8 $ 205.00 $ 282.26 $ 3,387.12
bldg 8 $ 205.00 $ 2,460.00 bldg 9 $ 205.00 $ 282.26 $ 3,387.12
bldg 9 $ 205.00 $ 2,460.00 GRAND TO $1,256.00 $ 1,728.90 $ 20,746.80
GRANDTOTAL $ 1,256.00 $ 15,072.00 Potential Increase $ 5,674.80
Sincerely,
Cindy Thomas
General Manager
Stoneridge Resort 150 Holiday Loop, Blanchard, ID 83804