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ANNUAL REPf!)1!TiON
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CAPITOL WATER INC.
NAME-
2626 ELDORADO BOISE, ID 83704
ADDRESS
TO TH E
IDAHO PUBLIC
UTiliTIES COMMISSION
FORTHE
. .. .. -,
YEAR ENDED DECEMBER 31 2005
(CPA)'JACKSON COLES, PLLC
Certified Public Accountants
University Plaza, Suite 415
960 Broadway Ave.
Boise, In 83706
Board of Directors
Capitol Water Corporation
Boise, Idaho
We have compiled the balance sheet of CAPITOL WATER CORPORATION, as of December 31
2005 and the related statements of income and retained earnings for the year then ended in the
accompanying prescribed form of the Idaho Public Utilities Commission, in accordance with
Statements on Standards for Accounting and Review Services issued by the American Institute of
Certified Public Accountants. We have also compiled the supplementary schedules of revenue and
expense detail, plant in service detail , accumulated depreciation detail. capital stock detail, detail of
long-term debt and system engineering data.
Our compilation is limited to presenting in the form prescribed by the Idaho Public Utilities
Commission information that is the representation of management. We have not audited or reviewed
the financial statements and supplementary information referred to above and, accordingly. we do not
express an opinion or any other form of assurance on them.
These financial statements and supplementary information are presented in accordance with the
requirements of the Idaho Public Utilities Commission, which differ from generally accepted
accounting principles. Accordingly, these financial statements are not designed for those who are not
informed about such differences.
Pac
/ay 2, 2006
Phone 20B/345-23500Pax 20B/344-3019oEmailjacksoncolescpas.com
ANNUAL REPORT FOR WATER UTILITIES TO
THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING December 31 2005
11 Are there any affiliated companies?
If yes, attach a list with names, addresses & descriptions.
provided to the utility.
12 Contact Information
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?
If yes, attach a list with names, addresses & descriptions. Explain any services
provided to the utility.
14 Where are the Company s books and records kept?Street Address 2626 Eldorado
1 Give full name of utility
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
City
State
Zip
Rev 3/02
COMPANY INFORMATION
Capitol Water Corporation
April 7, 1959
Idaho
2626 Eldorado
Boise
Idaho
83704
Corporation
Boise
Ada County
Explain any services
Name Phone No.
H. Robert Price 375-0931
Marqaret Price 801-581-0331
Bonnie Price 375-0931
H. Robert Price 375-0931
Bonnie Price 375-0931
H. Robert Price 375-0931
H. Robert Price 375-0931
Jackson Coles PLLC 345-2350
Boise
Idaho
83704
Page 1
NAME:Capitol Water Corporation
COMPANY INFORMATION (Cont.)
For the Year Ended December 31 2005
15 Is the system operated or maintained under a
service contract?
16 If yes: With whom is the contract?
When does the contract expire?
What services and rates are included?
17 Is water purchased for resale through the system?
18 If yes: Name of Organization
Name of owner or operator
Mailing Address
City
State
Zip
Gallons/CCF $Amount
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 Bills
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
May-
Rev 3/02 Page 2
NAME: Capitol Water Corporation
ACCT #
460
461.
461.
462
464
465
466
400
REVENUE & EXPENSE DETAIL
December 31 , 2005For the Year Ended
DESCRIPTION
400 REVENUES
Unmetered Water Revenue
Metered Sales - Residential
Metered Sales - Commercial, Industrial
Fire Protection Revenue
Other Water Sales Revenue
Irrigation Sales Revenue
Sales for Resale
Total Revenue (Add Lines 1 - 7)
(also enter result on Page 4, line 1)
* DEQ Fees Billed separately to customers
10 ** Hookup or Connection Fees Collected
11 ***Commission Approved Surcharges Collected
401 OPERATING EXPENSES
12 601.6 Labor - Operation & Maintenance
13 601.Labor - Customer Accounts
14 601.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
19 618 Chemicals
20 620.6 Materials & Supplies - Operation & Maint.
21 620.8 Materials & Supplies - Administrative & General
22 631-34 Contract Services - Professional
23 635 Contract Services - Water Testing
24 636 Contract Services - Other
25 641-42 Rentals - Property & Equipment
26 650 Transportation Expense
27 656-59 Insurance
28 660 Advertising
29 666 Rate Case Expense (Amortization)
30 667 Regulatory Comm. Exp. (Other except taxes)
31 670 Bad Debt Expense
32 675 Miscellaneous 271
33 Total Operating Expenses (Add lines 12 - 32, also enter on Pg 4, line 2)
Rev 3/02 Page 3
375,977
151
788
889
$ 475,805.
Booked to Acct #
Booked to Acct #
125,462 Booked to Acct 460.
43,661
36,591
633
015
884
68,255
19,452
026
10,314
886
853
12,673
$ 350,640.
Name: Capitol Water Corporation
ACCT #
INCOME STATEMENT
For Year Ended
DESCRIPTION
December 31 , 2005
403
406
407
6 408.
7 408.
8 408.
9A 408.
17 413
18 414
30 427.
31 427.
409.
409.
410.
410.
411
412
415
416
419
420
421
426
408.
409-
Rev 3/02
Revenue (From Page 3, line 8)
Operating Expenses (From Page 3, line 33)
Depreciation Expense
Amortization, Utility Plant Aquisition Adj.
Amortization Exp. - Other
Regulatory Fees (PUG)
Property Taxes
Payroll Taxes
Other Taxes (list)
Vehicles
475,805
350,640
75,937
589
29,125
623
DEQ Fees
766
Federal Income Taxes
State Income Taxes
Provision for Deferred Income Tax - Federal
Provision for Deferred Income Tax - State
Provision for Deferred Utility Income Tax Credits
Investment Tax Credits - Utility
Total Expenses from operations before interest (add lines 2-15)
Income From Utility Plant Leased to Others
Gains (Losses) From Disposition of Utility Plant
Net Operating Income (Add lines 1 , 17 & 18 less line 16)
Revenues, Merchandizing Jobbing and Contract Work
Expenses, Merchandizing, Jobbing & Contracts
Interest & Dividend Income
Allowance for Funds used During Construction
Miscellaneous Non-Utility Income
Miscellaneous Non-Utility Expense
Other Taxes, Non-Utility Operations
Income Taxes, Non-Utility Operations
Net Non-Utility Income (Add lines 20,23 & 24 less lines 21 25,26, & 27)
Gross Income (add lines 19 & 28)
Interest Exp. on Long-Term Debt
Other Interest Charges
NET INCOME (Line 29 less lines 30 & 31) (Also Enter on Pg 9, Line 2)
470,700
105
105
678
(573)
Page 4
Name: Capitol Water Corporation
SUB
ACCT #
Rev 3/02
ACCOUNT 101 PLANT IN SERVICE DETAIL
For Year Ended December 31,2005
DESCRIPTION
TOTAL PLANT IN SERVICE
(Add lines 1 - 28)
Balance
Beginning
of Year
Added
During
Year
Removed
During
Year
Balance
End of
Year
301 Organization 584 584
302 Franchises and Consents 40,969 40,969
303 Land & Land Rights 230 230
304 Structures and Improvements 115,726 020 116,746
305 Collecting & Impounding Reservoirs 2,452 2,452
306 Lake, River & Other Intakes
307 Wells 228 396 228,396
308 Infiltration Galleries & Tunnels
309 Supply Mains 090 049 325 090,374
310 Power Generation Equipment
311 Power Pumping Equipment 162 713 231 162 944
320 Purification Systems 184 184
330 Distribution Reservoirs & Standpipes 076 076
331 Trans. & Distrib. Mains & Accessories 702 805 507
333 Services 617 025 25,829 642 854
334 Meters and Meter Installations 104 153 358 104 511
335 Hydrants
336 Backflow Prevention Devices
339 Other Plant & Misc. Equipment
340 Office Furniture and Equipment 962 378 18,340
341 Transportation Equipment 122 600 721 103,879
342 Stores Equipment
343 Tools, Shop and Garage Equipment 664 122 15,786
344 Laboratory Equipment
345 Power Operated Equipment
346 Communications Equipment
347 Miscellaneous Equipment
348 Other Tangible Property 107 107
586,592 I $ 31,068 $ 18 721 $ 2 598,939
Enter beginning & end of year totals on Pg 7, Line 1
Page 5
Name: Capitol Water Corporation
For Year Ended
ACCUMULATED DEPRECIATION ACCOUNT 108.1 DETAIL
December 31 , 2005
SUB
Depreciation
Rate
Balance
Beginning
Balance
End of
Increase
ACCT #DESCRIPTION of Year Year (Decrease)
304 Structures and Improvements 78,676 508 832
305 Collecting & Impounding Reservoirs 2,402 2,405
306 Lake, River & Other Intakes
307 Wells 134 260 140,619 359
308 Infiltration Galleries & Tunnels
309 Supply Mains 784 514 810,825 26,311
310 Power Generation Equipment
311 Power Pumping Equipment 98,492 102,636 144
320 Purification Systems 19,643 19,772 129
330 Distribution Reservoirs & Standpipes 292 334
331 Trans. & Distrib. Mains & Accessories 901 350 449
333 Services 287 933 308,403 20,470
334 Meters and Meter Installations 51,451 976 525
335 Hydrants
336 Backflow Prevention Devices
339 Other Plant & Misc. Equipment
340 Office Furniture and Equipment 16,910 319 409
341 Transportation Equipment 830 88,380 (8,450)
342 Stores Equipment
343 Tools, Shop and Garage Equipment 10,678 11,667 989
344 Laboratory Equipment
345 Power Operated Equipment
346 Communications Equipment
347 Miscellaneous Equipment
348 Other Tangible Property
TOTALS (Add Lines 1 - 25)585,055 642 271 216
Enter beginning & end of year totals on Pg 7, Line 7
Rev 3/02 Page 6
Name: Capitol Water Corporation
BALANCE SHEET
For Year Ended December 31 2005
ASSETS Balance
Beginning
Balance
End of
Increase
ACCT #DESCRIPTION of Year Year (Decrease)
101 Utility Plant in Service (From Pg 5, Line 29)586 592 598,939 347
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)586,592 598,939 347
108.Accumulated Depreciation (From Pg 6, Line 26)585,055 642 271 216
108.Accum. Depr. - Utility Plant Lease to Others
108.Accum. Depr. - Property Held for Future Use
110.Accum. Amort. - Utility Plant in Service
110.Accum. Amort. - Utility Plant Lease to Others
115 Accumulated Amortization - Aquisition Adj.
Net Utility Plant (Line 6 less lines 7 - 12)001 ,537 956,668 (44 869)
123 Investment in Subsidiaries
125 Other Investments 763 60,763
Total Investments (Add lines 14 & 15)60,763 60,763
131 Cash 26,179 341 (24 838)
135 Short Term Investments
141 Accts/Notes Receivable - Customers 45,463 48,005 542
142 Other Receivables
145 Receivables from Associated Companies
151 Materials & Supplies Inventory 801 801
162 Prepaid Expenses 130 (130)
173 UnbiliedtAccrued) Utility Revenue
143 Provision for Uncollectable Accounts
Total Current (Add lines 17 -24 less line 25)78,573 56,147 (22,426)
181 Unamortized Debt Discount & Expense
183 Preliminary Survey & Investigation Charges
184 Deferred Rate Case Expenses
186 Other Deferred Charges
Total Assets (Add lines 13, 16 & 26 - 30)140,873 $073,578 $(67 295)
Rev 3/02 Page 7
Name: Capitol Water Corporation
For Year Ended
LIABILITIES & CAPITAL
BALANCE SHEET
December 31 , 2005
Balance
Beginning
Balance
End of
Increase
ACCT #DESCRIPTION of Year Year (Decrease)
201-Common Stock 000 10,000
204-Preferred Stock
207-Miscellaneous Capital Accounts 29,200 29,200
214 Appropriated Retained Earnings
215 Unappropriated Retained Earnings 554 146 533,604 (20,542)
216 Reacquired Capital Stock
218 Proprietary Capital
Total Equity Capital (Add Lines 1-5+7 less line 6)593,346 572 804 (20 542)
221-Bonds 000 000
223 Advances from Associated Companies
224 Other Long - Term Debt
231 Accounts Payable 13,578 176 (7,402)
232 Notes Payable 117 347 90,708 (26,639)
233 Accounts Payable - Associated Companies
235 Customer Deposits (Refundable)
236.Accrued Other Taxes Payable 38,996 38,759 (237)
236.Accrued Income Taxes Payable (5,166\(5,166)
236.Accrued Taxes - Non-Utility
237-Accrued Debt, Interest & Dividends Payable 375 375
241 Misc. Current & Accrued Liabilities
251 Unamortized Debt Premium
252 Advances for Construction 319,391 304 591 (14 800)
253 Other Deferred Liabilities
255.Accumulated Investment Tax Credits - Utility
255.Accum. Investment Tax Credits - Non-Utility
261-Operating Reserves
271 Contributions in Aid of Construction 148,115 150,065 950
272 Accum. Amort. of Contrib. in Aid of Const. **(89,734)(89,734\
281-Accumulated Deferred Income Taxes
Total Liabilities (Add lines 9 - 29 547 527 500 774 (46,753)
TOTAL LlAB & CAPITAL ( Add lines 8 & 30)140,873 073,578 (67,295)
Rev 3/02
** Only if Commission Approved
Page 8
Name: Capitol Water Corporation
For Year Ended
STATEMENT OF RETAINED EARNINGS
December 31 , 2005
Retained Earnings Balance
(g)
Beginning of Year
Amount Added from Current Year Income (From Pg 4, Line 32)
Other Credits to Account
Dividends Paid or Appropriated
Other Distributions of Retained Earnings
Retained Earnings Balance
(g)
End of Year
554 146
(573)
(15,000)
969)
533,604
CAPITAL STOCK DETAIL
No. Shares
Description (Class, Par Value etc.
Common Stock
A th . d
No. Shares
0 t t
Dividends
P 'onze u s an mq
250 100 000.
DETAIL OF LONG-TERM DEBT
escnDtlon ate a ance ccrue
Advances for Construction N/A None
Debentures 10%000.500.
Note- R. Price 55,232.
Note- Bavhill 87%20,051.805.
Note- B of A 25%980.373.
Ford Motor Credit N/A 2,446.None
Interest
Rev 3/02 Page 9
Year-end
B I
Interest
P '
Interest
Name: Capitol Water Corporation
SYSTEM ENGINEERING DATA
For Year Ended December 31 2005
Provide an updated system map if significant changes have been made to the system during the year.
Water Supply:
Rated
Capacity
Type of
Treatment:
(None, Chlorine
Fluoride
Annual
Production
Water
Supply
Source
(Well , Spring,Pump DesiQnation or location (Qpm)Filter etc.(OOO's Gal.)Surface Wtr)
Well #1 350 Phosphate Well
Well #2 - inoperative 450 None Well
Well #3 350 Phosphate Well
Well #4 2000 Phosphate Well
Well #5 - redrilled in 2002 1500 None Well
Well #6 1500 ASR Well
Well #7 1500 Phosphate Well
System Storage:
Total
Capacity
OOO'
Usable
Capacity
OOO'
Type of
Reservoir
(Elevated Pres-
Construction
(Wood, Steel
Storage Designation or Location Gal.Gal.urized, Boosted)Concrete)
Well #1 1500 Pressurized Steel
Well #2
Well #3 3000 Pressurized Steel
Well #4
Well #5
Well #6
Well #7
(Duplicate form and attach if necessary. Asterisk facilities added this year.
Rev 3/02 Page 10
Name: Capitol Water Corporation
SYSTEM ENGINEERING DATA
(continued)
For Year Ended December 31 , 2004
Pump information for ALL system pumps, including wells and boosters.
Designation or Location
Rated
Capacity
Energy
Used
Discharge
PressureHorse
& Type of Pump Power (qpm)(psi)This Year
Well #1 350
Well #2- inoperative
Well #3 100 350
Well #4 200 2000
Well #5 150 1500
Well #6 150 1500
Well #7 150 1500
** Submit pump curves unless previously provided or unavailable. Asterisk facilities added this year.
Attach additional sheets if inadequate space is available on this page.
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?
Unknown
170,685,000
016 000
If customers are metered, what was the total amount sold in peak month?N/A
Was your system designed to supply fire flows?
If Yes: What is current system rating?
Yes
Included
How many times were meters read this year?
During which months?
Dail
Jan to Dee
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?
Unknown
Unknown
10 Are backbone plant additions anticipated during the coming year?
If Yes, attach an explanation of projects and anticipated costs!
In what year do you anticipate that the system capacity (supply, storage or distribution)
will have to be expanded?Unknown
Rev 3/02 Page 11
Name: Capitol Water Corporation
SYSTEM ENGINEERING DATA
(continued)
For Year Ended December 31 2004
FEET OF MAINS
Pipe
Size
In Use
Beginning
Of Year
Installed
During
Year
Abandoned
During
Year
In Use
End of
Year
10"600 600
966 966
23,740 23,740
76,014 76,014
645 41,645
12"060 060
3/4"58,793 58,793
016 016
11/2"290 290
CUSTOMER STATISTICS
Number of Customers Thousands of Gallons Sold
TOTALS (Add lines 2 through 8)
This Last This Last
Year Year Year Year
264 259
2293 2286
125 125
170 170
2875 2863
Metered:
Residential
Commercial
Industrial
Flat Rate:
Residential
Commercial
Industrial
Private Fire Protection
Public Fire Protection
Street Sprinkling
Municipal, Other
Other Water Utilities
Rev 3/02 Page 12
CERTIFICA TE
State of Idaho
) ss
County of 11M
, the undersigned
//.
;f!r;)/'e/\f ~A!."a
and
of the U,o,.TCJ J..uJ,!p 7~~ .:z-~~
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~12
(Chief Officer)
(Officer in Charge of Accounts)
Subscribed and Sworn to Before Me
My Commission Expires 09-/.3-0200-
this ,5:!!1 day of /11/1Y ~OO/,
NOTA PUBLIC
gd kI excel/j nel so nIanul rpts/wtrannual rpt
Rev 3/02 Page 13