2008Annual Report.pdf

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ANNUALREPORf!~;¥¿J
OF Æ.sf-W
As Pe.~ C~~e.'C We-t.r Co.'
NAME
10 s. ße.tArt.Ke. ß I vel. &~~Jc ~ c..",, ,lAT C¡V02.i
ADDRESS
TO THE
IDAHO PUBLIC
UTILITIES COMMISSION
FOR THE
YEAR ENDED 12. "'3\ -o~
ANNUAL REPORT FOR WATER UTILITIES TO
THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING December 31, 2008
11 Are there any affiliated companies? Yes
If yes, attach a list with names, addresses & descriptions. Explain any services
provided to the utilty.
12 Contact Information Name
President (Owner)
Vice President
Secretary
General Manager
Complaints or Billing
Engineering
Emergency Service
Accounting
13 Were any water systems acquired during the year or any additions/deletions madeto the service area during the year? No
If yes, attach a list with names, addresses & descriptions. Explain any services
provided to the utilty.
14 Where are the Company's books and records kept?
Street Address 10 S. Bear Lake Blvd.City Garden CityState UtahZip 84028
1 Give full name of utilty
Telephone Area Code (
E-mail address
2 Date of Organization
3 Organized under the laws of the state of
4 Address of Principal Office (number & street)
5 P.O. Box (if applicable)
6 City
7 State
8 Zip Code
9 Organization (proprietor, partnership, corp.)
10 Towns, Counties served
Rev 3/02
COMPANY INFORMATION
Aspen Creek Water Company, Inc.
435-946-3503
vistat§bearlake.com
12/28/1999
Idaho
10 S. Bear Lake Blvd.
Garden City
Utah
84028
Corporation
Fish Haven, Idaho
Phone No
A. Ray Ellott 435-946-3503
Norman Mecham 435-946-3503
Norman Mecham 435-946-3503
A. Ray Ellott 435-946-3503
Janie Sorochuk 435-946-3503
A. Ray Ellott 435-946-3503
A. Ray Ellott 435-946-3503
Janie Sorochuk 435-946-3503
Page 1
NAME: Ray Ellott. Aspen Creek Water Co.
COMPANY INFORMATION (Cont.)
For the Year Ended 12/31/2008
15 Is the system operated or maintained under aservice contract? No
16 If yes: With whom is the contract? n/a
When does the contract expire? n/a
What services and rates are included? n/a
17 Is water purchased for resale through the system?
18 If yes: Name of Organization n/a
Name of owner or operator n/aMailing Address n/a~ty ~aState n/aZip n/a
No
Water Purchased
19 Has any system(s) been disapproved by the
Idaho Division of Environmental Quality?
If yes, attach full explanation
20 Has the Idaho Division of Environmental Quality
recommended any improvements?
If yes, attach full explanation
21 Number of Complaints received during year concerning:
Quality of Service
High Bils
Disconnection
22 Number of Customers involuntarily disconnected
23 Date customers last received a copy of the Summary
of Rules required by IDAPA 31.21.01.701?
Attach a copy of the Summary
24 Did significant additions or retirements from the
Plant Accounts occur during the year?
If yes, attach full explanation
and an updated system map
Rev 3/02 Page 2
$AmountGallons/CCF
n/a
No
Yes
o
o
o
o
1-Apr-02 (New Customers Receive at
time of hookup)
No
Total Revenue (Add Lines 1 - 7)
(also enter result on Page 4, line 1)
9 * DEQ Fees Biled separately to customers
10 ** Hookup or Connection Fees Collected
11 ***Commission Approved Surcharges Collected
401 OPERATING EXPENSES
12 601.1-6 Labor - Operation & Maintenance
13 601.7 Labor - Customer Accounts
14 601.8 Labor - Administrative & General
15 603 Salaries, Officers & Directors
16 604 Employee Pensions & Benefits
17 610 Purchased Water
18 615-16 Purchased Power & Fuel for Power 4450
19 618 Chemicals
20 620.1-6 Materials & Supplies - Operation & Maint. 7337
21 620.7-8 Materials & Supplies - Administrative & General
22 631-34 Contract Services - Professional 3240
23 635 Contract Services - Water Testing
24 636 Contract Services - Other
25 641-42 Rentals - Property & Equipment
26 650 Transportation Expense27 656-59 Insurance 925
28 660 Advertising
29 666 Rate Case Expense (Amortization)
30 667 Regulatory Comm. Exp. (Other except taxes)31 670 Bad Debt Expense 5032 675 Miscellaneous 317
33 Total Operating Expenses (Add lines 12 .32, also enter on Pg 4, line 2) 16319
NAME: Ray Ellott. Aspen Creek Water Co.
REVENUE & EXPENSE DETAIL
For the Year Ended 12/31/2008
ACCT # DESCRIPTION
400 REVENUES
Unmetered Water Revenue
Metered Sales - Residential
Metered Sales - Commercial, Industrial
Fire Protection Revenue
1
2
3
4
5
6
7
8
460
461.1
461.2
462
464
465
466
400
Rev 3/02
9950
Other Water Sales Revenue
Irrigation Sales Revenue
Sales for Resale
2500
12450
Booked to Acct #
2500 Booked to Acct 'I
Booked to Acct #
464
Page 3
Name:Ray Ellott, Aspen Creek Water Co.
INCOME STATEMENT
For Year Ended 12/31/2008
ACCT#DESCRIPTION
1 Revenue (From Page 3, line 8)12450
2 Operating Expenses (From Page 3, line 33)16318
3 403 Depreciation Expense
4 406 Amortization, Utility Plant Aquisition Adj.
5 407 Amortization Exp. - Other
6 408.10 Regulatory Fees (PUC)
7 408.11 Property Taxes 64
8 408.12 Payroll Taxes
9A 408.13 Other Taxes (list)DEQ Fees
9B
9C
9D
10 409.10 Federal Income Taxes
11 409.11 State I ncome Taxes 20
12 410.10 Provision for Deferred Income Tax - Federal
13 410.11 Provision for Deferred Income Tax - State
14 411 Provision for Deferred Utility Income Tax Credits
15 412 Investment Tax Credits - Utiity
16 Total Expenses from operations before interest (add lines 2-15)16402
17 413 Income From Utility Plant Leased to Others
18 414 Gains (Losses) From Disposition of Utilty Plant
19 Net Operating Income (Add lines 1,17 &18 less line 16)-3952
20 415 Revenues, Merchandizing Jobbing and Contract Work
21 416 Expenses, Merchandizing, Jobbing & Contracts
22 419 Interest & Dividend Income
23 420 Allowance for Funds used During Construction
24 421 Miscellaneous Non-Utility Income
25 426 Miscellaneous Non-Utility Expense
26 408.20 Other Taxes, Non-Utility Operations
27 409-20 Income Taxes, Non-Utility Operations
28 Net Non-Utility Income (Add lines 20,22,23 & 24 less lines 21,25,26, & 27)0
29 Gross Income (add lines 19 & 28)-3952
30 427.3 Interest Exp. on Long-Term Debt
31 427.5 Other Interest Charges
32 NET INCOME (Line 29 less lines 30 & 31)(Also Enter on Pg 9, Line 2)-3952
Rev 3/02 Page 4
Name: Ray Ellott, Aspen Creek Water Co.
SUB
ACCT#
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
Rev 3/02
ACCOUNT 101 PLANT IN SERVICE DETAIL
For Year Ended 12/31/2008
DESCRIPTION
(Add lines 1 - 28)
Balance
Beginning
of Year
Added
During
Year
301 Organization
302 Franchises and Consents
303 Land & Land Rights 10000 10000
304 Structures and Improvements 14500 14500
305 Collecting & Impounding Reservoirs 90000 90000
306 Lake, River & Other Intakes
307 Wells 143380 143380
308 Infiltration Galleries & Tunnels
309 Supply Mains
310 Power Generation Equipment
311 Power Pumping Equipment 35793 4258 40051
320 Purification Systems
330 Distribution Reservoirs & Standpipes
331 Trans. & Distrib. Mains & Accessories 79650 79650
333 Services
334 Meters and Meter Installations 1500 1500
,
335 Hydrants 14500 14500
336 Backflow Prevention Devices
339 Other Plant & Misc. Equipment
340 Office Furniture and Equipment
341 Transportation Equipment
342 Stores Equipment
343 Tools, Shop and Garage Equipment
344 Laboratory Equipment
345 Power Operated Equipment
346 Communications Equipment
347 Miscellaneous Equipment
348 Other Tangible Property
TOTAL PLANT IN SERVICE 389323 4258 393581
Removed
During
Year
Balance
End of
Year
Enter beginning & end of year totals on Pg 7, Line 1
Page 5
Name: Ray Ellott, Aspen Creek Water Co.
For Year Ended 12/31/2008
ACCUMULATED DEPRECIATION ACCOUNT 108.1 DETAIL
SUB
Depreciation
Rate
Balance
Beginning
Balance
End of
Increase
or
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
ACCT#DESCRIPTION %of Year Year (Decrease)
304 Structures and Improvements 5 4625 5350 725
305 Collecting & Impounding Reservoirs 5 31500 36000 4500
306 Lake, River & Other Intakes
307 Wells 5 26640 32280 5640
308 Infiltration Galleries & Tunnels
309 Supply Mains
310 Power Generation Equipment
311 Power Pumping Equipment 10 15421 20046 4625
320 Purification Systems
330 Distribution Reservoirs & Standpipes
331 Trans. & Distrib. Mains & Accessories 5 23826 27808 3982
333 Services
334 Meters and Meter Installations 10 1050 1200 150
335 Hydrants 5 5075 5800 725
336 Backflow Prevention Devices
339 Other Plant & Misc. Equipment
340 Office Furniture and Equipment
341 Transportation Equipment
342 Stores Equipment
343 Tools, Shop and Garage Equipment
344 Laboratory Equipment
345 Power Operated Equipment
346 Communications Equipment
347 Miscellaneous Equipment
348 Other Tangible Propert
TOTALS (Add Lines 1 - 25)108137 128484 20347
Enter beginning & end of year totals on Pg 7, Line 7
Rev 3/02 Page 6
Name: Ray Ellott, Aspen Creek Water Co.
BALANCE SHEET
For Year Ended 12/31/2008
ASSETS Balance
Beginning
Balance
End of
Increase
or
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
ACCT#DESCRIPTION of Year Year (Decrease)
101 Utility Plant in Service (From Pg 5, Line 29)389323 393581 4258
102 Utility Plant Leased to Others
103 Plant Held for Future Use
105 Construction Work in Progress
114 Utility Plant Aquisition Adjustment
Subtotal (Add Lines 1 - 5)389323 393581 4258
108.1 Accumulated Depreciation (From Pg 6, Line 26)-108137 -128484 -20347
108.2 Accum. Depr. - Utility Plant Lease to Others
108.3 Accum. Depr. - Propert Held for Future Use
110.1 Accum. Amort. - Utility Plant in Service
110.2 Accum. Amort. - Utility Plant Lease to Others
115 Accumulated Amortization - Aquisition Adj.
Net Utility Plant (Line 6 less lines 7 - 12)281186 265097 -16089
123 Investment in Subsidiaries
125 Other Investments
Total Investments (Add lines 14 & 15)
131 Cash 734 8406 7672
135 Short Term Investments
141 AcctslNotes Receivable - Customers 500 0 -500
142 Other Receivables
145 Receivables from Associated Companies
151 Materials & Supplies Inventory
162 Prepaid Expenses
173 Unbiled (Accrued) Utility Revenue
143 Provision for Uncollectable Accounts
Total Current (Add lines 17 -24 less line 25)1234 8406 7172
181 Unamortized Debt Discount & Expense
183 Preliminary Survey & Investigation Charges
184 Deferred Rate Case Expenses
186 Other Deferred Charges (Escrow)0 0 0
Total Assets (Add lines 13, 16 & 26 - 30)282420 273503 -8917
Rev 3/02 Page 7
Name: Ray Ellott, Aspen Creek Water Co.
BALANCE SHEET
For Year Ended 12/31/2008
LIABILITIES & CAPITAL Balance
End of
Increase
or
Balance
Beginning
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
ACCT#DESCRIPTION of Year Year (Decrease)
201-3 Common Stock 3000 3000
204-6 Preferred Stock
207-13 Miscellaneous Capital Accounts 1559 1559
214 Appropriated Retained Earnings
215 Unappropriated Retained Earnings 7368 3416 -3952
216 Reacquired Capital Stock
218 Proprietary Capital
Total Equity Capital (Add Lines 1-5+7 less line 6)11927 7975 -3952
221-2 Bonds
223 Advances from Associated Companie~
224 Other Long - Term Debt
231 Accounts Payable 4129 431 -3698
232 Notes Payable
233 Accounts Payable - Associated Companies
235 Customer Deposits (Refundable)
236.11 Accrued Other Taxes Payable
236.12 Accrued Income Taxes Payable
236.2 Accrued Taxes - Non-Utility
237-40 Accrued Debt, Interest & Dividends Payable
241 Misc. Current & Accrued Liabilities
251 Unamortized Debt Premium
252 Advances for Construction
253 Other Deferred Liabilities
255.1 Accumulated Investment Tax Credits -Utility
255.2 Accum. Investment Tax Credits - Non-Utility
261-5 Operating Reserves
271 Contributions in Aid of Construction 372030 393581 21551
272 Accum. Amort. of Contrib. in Aid of Const. **-105666 -128484 -22818
281-3 Accumulated Deferred Income Taxes
Total Liabilities (Add lines 9 - 29 270493 265528 -4965
TOTAL LIAB & CAPITAL (Add lines 8 & 30)282420 273503 -8917
** Only if Commission Approved
Rev 3/02 Page 8
Name: Ray Ellott, Aspen Creek Water Co.
STATEMENT OF RETAINED EARNINGS
For Year Ended 12/31/2008
1 Retained Earnings Balance ~ Beginning of Year
2 Amount Added from Current Year Income (From Pg 4, Line 32)
3 Other Credits to Account
4 Dividends Paid or Appropriated
5 Other Distributions of Retained Earnings
6 Retained Earnings Balance ~ End of Year
11927
-3952
7975
CAPITAL STOCK DETAIL
No. Shares
Description (Class, Par Value etc.)
Common Stock $1 Par Value
A th . d
No. Shares
Ott d
Dividends
P 'd7uorizeus an InQ ai
50000 3000 0
DETAIL OF LONG-TERM DEBT
Interest Year-end Interest Interest
8 Description Rate Balance Paid ccrue
NIA
A d
Rev 3/02 Page 9
Name: Ray Ellott, Aspen Creek Water Co.
SYSTEM ENGINEERING DATA
For Year Ended 12/31/2008
1 Provide an updated system map if significant changes have been made to the system during the year.
2 Water Supply:
Rated
Capacity
Type of
Treatment:
(None, Chlorine
Fluoride
Annual
Production
Water
Supply
Source
(Well, Spring,
Pump Designation or location (apm)Filter etc.)(OOO's GaL)Surface Wtr)
Demoster Y-750 Aspen Creek 300 Chlorine 10087 Well
3 System Storage:
Total
Capacity
OOO's
Usable
Capacity
OOO's
Type of
Reservoir Construction
(Elevated, Pres- (Wood, Steel
Storaae Desianation or Location GaL.GaL.urized, Boosted)Concrete)
Storage Tank. Aspen Creek 115 100 Elevated Concrete
(Duplicate form and attach if necessary. Asterisk facilties added this year.)
Rev 3/02 Page 10
Name: Ray Ellott, Aspen Creek Water Co.
SYSTEM ENGINEERING DATA
(continued)
For Year Ended 12/31/2008
4 Pump information for ALL system pumps, including wells and boosters.
Designation or Location Horse
Rated
Capacity
Discharge
Pressure
Energy
Used
& Type of Pump**Power (gpm)(psi)This Year
Dempster Y-750 Aspen Creek 40 300 140 36766
.. .** Submit pump curves unless previously provided or unavailable. Asterisk facilities added this year.
Attach additional sheets if inadequate space is available on this page.
5 If Wells are metered:
What was the total amount pumped this year?
What was the total amount pumped during peak month?
What was the total amount pumped on the peak day?
10,087,000
1,875,000
66,000
6 If customers are metered, what was the total amount sold in peak month?1,875,000
7 Was your system designed to supply fire flows?
If Yes: What is current system rating?
Yes
1000 GPM
8 How many times were meters read this year?
During which months?
1
July
9 How many additional customers could be served with no system improvements
except a service line and meter?
How many of those potential additions are vacant lots?
70
70
10 Are backbone plant additions anticipated during the coming year?
If Yes, attach an explanation of projects and anticipated costs!
Yes
11 In what year do you anticipate that the system capacity (supply, storage or distribution)
will have to be expanded?2017
Rev 3/02 Page 11
Name: Ray Ellott, Aspen Creek Water Co.
SYSTEM ENGINEERING DATA
(continued)
For Year Ended 12/31/2008
FEET OF MAINS
6"12600 12600
2"700 700
8"5250 5250
In Use
Beginning
Of Year
Installed
During
Year
Abandoned
During
Year
In Use
End of
Year
1 Pipe
Size
CUSTOMER STATISTICS
Number of Customers Thousands of Gallons Sold
TOTALS (Add lines 2 through 8)
This Last This Last
Year Year Year Year
35 33 9887000 8970000
33 28 8970000 4240000
2 Metered:
2A Residential
2B Commercial
2C Industrial
3 Flat Rate:
3A Residential
3B Commercial
3C Industrial
4 Private Fire Protection
5 Public Fire Protection
6 Street Sprinkling
7 Municipal, Other
8 Other Water Utilities
Rev 3/02 Page 12
CERTIFICATE
State of~ () k. Kf
) ss
County of 1ùtv )
I, the undersigned '-""~'""-'--~-~ay Ellottand ~..~.- .,..:: = - '-
of the_ Aspen Creek Water Co.
utility, on our oath do severally say that the foregoing report has been prepared under our direction,
from the original books, papers and records of said utility; that we have carefully examined same, and
declare the same to be a correct statement of the business and affairs of said utility for the period
covered by the report in respect to each and every matter and thing therin set forth, to the best of our
knowledge, information and belief.
d~t! c;
tlief Officer)
I,
(Officer in Charge of Accounts)
Subscribed and Sworn to Before Me
this J.~day of CrlU1 a/l¿i , ,ß()oq/. 'i' ~'~' 'ej /llu'l~,~
cn;'RY BUBLIC
NOTARY PUBLIC
KATHY lHISLOP
145 W Logan Road
Garden City. UT 84028
My Commission Expires
April 13. 2011
STATE OF UTAH
My Commission Expires ûi))di
/ 3 /;~'II;
gdklexceVjnelson/anulrptslrannuatrpt
Rev 3/02 Page 13
Aspen Creek Water, Co.
Attachment to Annual Report
Line 11: Affiliated Companies
Executive Recreational Properties
ios. Bear Lake Blvd.
Garden City, Uta 84028
Management company that provides
accounting and management services.
Lake Vista Properties, LLC
10 S. Bear Lake Blvd.
Garden City, Uta 84028
Land Developer who is responsible for
Developing the land that the Water
Company wil service.
Line 20: Recommended Improvements by Division of Environmental Quality
Recommendation was made that a 2nd Well be driled and added to the water system
because of expansion of the subdivision. The Well has been drilled and was completed
in February 2007. No other recommendations have been made at this time.
System Engineering Data- Line 10: Back Bone Plant Additions
A pump house for the new well is expected to be completed in 2009 at a estimated cost of
$15,000. A backup generator and auto switch is also expected to be completed in 2009 at
a cost of $30,000. These costs will be provided by the developer.
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FAX NJ. : 435946319
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SUMMY OF RUL AND RE ULATIONS
OF TI IDAHO PUBLIC UTI COMMISSlON
GOVEG CUSTOME nONS OF
NATU GAS; ELECC AND WATE l'UBLIC UTUL1ES
UNER T1I JUDICTON 0 TH IDAHO
:PLIC UTILTI CO SION
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A phic c: gt th er of a
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.A -C~ Wa.te o.1 () Sou Ee Lake B vd,
Gar Ci, Ut 8 28
(435) 9#-3500
'!J ma be £l Vrth th ut:
Or if you we unle to cotact th iiit coy au mi file with th
Ida Public Uti Comision P:O. Box 11372 , BDise Ida 83720 or ca
1-8-432-0369.
Comlet set òf -o Rwc: & Rei01 on fi with ASP CRE WATER CO. an ti Ida
Public Utli Colc;