2007Annual Report.pdf

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RECEIVED '
- 7 AM 10: II
ANNUAL REPon /L::.)J -~: i3tJ~C
.,AMiSSJON
OF 04P~úJ
CAPITOL WATER, INC.
NAME
2626 ELDORAO BOISE, ID 83704
ADDRESS
TO THE
IDAHO PUBLIC
UTiliTIES COMMISSION
FOR THE
YEAR ENDED DECEMBER 31,2007
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(CPA)"JACKSON COLES, PLLC
Certifi Public Accuntants
University Plaza, Suite 415
960 Broway Ave.
Boise, ID 83706
Board of Directors
Capitol Water Corpration
Boise, Idaho
We have compiled the balance sheet of CAPITOL WATER CORPORATION, as of December 31,
2007, and the related sttements of income and retained earnings for the year then ended in the
accompanying prescribed form of the Idaho Public Utilties 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 supplementa 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 Idao Public Utilties
Commission information that is the representation of management. We have not audited or reviewed
the financial statements and supplementary information referrd to above and, accordingly, we do not
express an opinion or any other form of assurance on them.
These financial statements and supplementa information are presented in accordance with the
requirements of the Idaho Public Utilties Commission, which differ from generally accepted
accounting principles. Accordingly, these financial statements are not designed for those who are not
informed about such differences.
~/UC
Plu 208423-FØ$ 203419'Bmiljøkt.c
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ANNUAL REPORT FOR WATER UTILITIES TO
THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING December 31, 2007
COMPANY INFORMATION
1 Give full name of utility
2 Date of Organization
3 Organized under the laws of the state of
4 Address of Principal Ofice (number & street)
5 P.O. Box (if applicable)
6 City
7 State
8 Zip Code
9 Organization (proprietor, partnership, corp.)
10 Towns, Counties served
Capitol Water Corporation
April 7, 1959
Idaho
2626 Eldorado
Boise
Idaho
83704
Corporation
Boise
Ada County
11 Are there any affliated companies? No
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 Billng
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, attch 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 2626 Eldorado
H. Robert Price 375-0931
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
City
State
Zip
Boise
Idaho
83704
Phone No
Rev 3/02 Page 1
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NAME: Capitol Water Corporation
COMPANY INFORMATION (Cont.)
For the Year Ended December 31,2007
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?
No
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
No
Water Purchased
19 Has any system(s) been disapproved by the
Idaho Division of Environmental Quality?
If yes, attch 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
Gallons/CCF $Amount
No
No
5
3
14
1-Mar-07
No
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NAME: Capitol Water Corporation
ACCT#
REVENUE & EXPENSE DETAIL
For the Year Ended December 31, 2007
DESCRIPTION
400 REVENUES
525,757Unmetered 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)
9 * DEQ Fees Biled separately to customers
10 ** Hookup or Connection Fees Collected
11 ***Commission Approved Surcharges Collected
460
461.1
461.2
462
464
465
466
400
1
2
3
4
5
6
7
8
111,988
o
790
119,284
401 OPERATING EXPENSES
46,700
39,178
35,854
55,450
37,964
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
19 618 Chemicals
20 620.1-6 Materials & Supplies - Operation & Maint.
21 620.7-8 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 - Propert & 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 26
32 675 Miscellaneous 10,511
33 Total Operating Expenses (Add lines 12 - 32, also enter on Pg 4, line 2)
56,262
7,433
12,561
15,297
13,677
1,020
9,423
10,839
Rev 3/02 Page 3
$ 638,535
Booked to Acct #
Booked to Acct #
Booked to Acct 'I 460.5
$ 352,195
I
Name:Capitol Water Corporation
I INCOME STATEMENT
For Year Ended December 31, 2007
I ACCT#DESCRIPTION
1 Revenue (From Page 3, line 8)$638,535
2 Operating Expenses (From Page 3, line 33)$352,195
I 3 403 Depreciation Expense 76,0_04
4 406 Amortization, Utilty Plant Aquisition Adj.
I 5 407 Amortization Exp. - Other
6 408.10 Regulatory Fees (PUC)1,235
7 408.11 Propert Taxes 21,267
I 8 408.12 Payroll Taxes 14,007
9A 408.13 Other Taxes (list)DEQ Fees
9B Vehicles 273
I 9C
9D
I 10 409.10 Federal Income Taxes 48,604
11 409.11 State Income Taxes 7,184
12 410.10 Provision for Deferred Income Tax - Federal
I 13 410.11 Provision for Deferred Income Tax - State
14 411 Provision for Deferred Utility Income Tax Credits
I 15 412 Investment Tax Credits - Utilty
16 Total Expenses from operations before interest (add lines 2-15)520,769
17 413 Income From Utility Plant Leased to Others
I 18 414 Gains (Losses) From Disposition of Utility Plant 0
19 Net Operating Income (Add lines 1, 17 & 18 less line 16)117,766
I 20 415 Revenues, Merchandizing Jobbing and Contract Work
21 416 Expenses, Merchandizing, Jobbing & Contracts
22 419 Interest & Dividend Income
I 23 420 Allowance for Funds used During Construction
24 421 Miscellaneous Non-Utility Income
I 25 426 Miscellaneous Non-Utility Expense
26 408.20 Other Taxes, Non-Utilty Operations
27 409-20 Income Taxes, Non-Utility Operations
I 28 Net Non-Utility Income (Add lines 20,22,23 & 24 less lines 21,25,26, & 27)
29 Gross Income (add lines 19 & 28)117,766
30 427.3 Interest Exp. on Long-Term Debt 4,800
I 31 427.5 Other Interest Charges
32 NET INCOME (Line 29 less lines 30 & 31) (Also Enter on Pg 9, Line 2)112,966
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Name: Capitol Water Corporation
ACCOUNT 101 PLANT IN SERVICE DETAIL
For Year Ended December 31, 2007
SUB
ACCT#
Balance
Beginning
of Year
Added
During
Year
Removed
During
Year
Balance
End of
YearDESCRIPTION
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
301 Organization $3,584 $3,584
302 Franchises and Consents $40,969 $40,969
303 Land & Land Rights $30,095 $100 $30,195
304 Structures and Improvements $116,436 $8,310 $124,746
305 Collecting & Impounding Reservoirs $2,452 $2,452
306 Lake, River & Other Intakes $-
307 Wells $247,168 $247,168
308 Infiltration Galleries & Tunnels $-
309 Supply Mains $1,091,614 $26,246 $1,117,860
310 Power Generation Equipment $425 $425
311 Power Pumping Equipment $180,134 $18,544 $198,678
320 Purification Systems $22,184 $22,184
330 Distribution Reservoirs & Standpipes $1,076 $1,076
331 Trans. & Distrib. Mains & Accessories $12,376 $12,376
333 Services $668,731 $33,871 $702,602
334 Meters and Meter Installations $106,910 $915 $107,825
335 Hydrants $-
336 Backflow Prevention Devices $-
339 Other Plant & Misc. Equipment $-
340 Office Furniture and Equipment $18,340 $804 $19,144
341 Transportation Equipment $103,879 $169 $104,048
342 Stores Equipment $-
343 Tools, Shop and Garage Equipment $16,828 $1,870 $18,698
344 Laboratory Equipment $-
345 Power Operated Equipment $-
346 Communications Equipment $-
347 Miscellaneous Equipment $-
348 Other Tangible Propert $107 $107
29 TOTAL PLANT IN SERVICE $
(Add lines 1 - 28)
2,662,883 i $ 91,254 $ $ 2,754,137
Enter beginning & end of year totals on Pg 7, Line 1
Rev 3/02 Page 5
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Name: Capitol Water Corporation
ACCUMULATED DEPRECIATION ACCOUNT 108.1 DETAIL
For Year Ended December 31, 2007
Balance
End of
Increase
orSUB
Depreciation
Rate
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
ACCT#DESCRIPTION %of Year Year (Decrease)
304 Structures and Improvements $84,337 $87,367 $3,030
305 Collecting & Impounding Reservoirs $2,408 $2,411 $3
306 Lake, River & Other Intakes $-$-$-
307 Wells $147,416 $154,526 $7,110
308 Infiltration Galleries & Tunnels $-$-$-
309 Supply Mains $836,427 $862,211 $25,784
310 Power Generation Equipment $-$10 $10
311 Power Pumping Equipment $107,185 $112,453 $5,268
320 Purification Systems $19,901 $20,030 $129
330 Distribution Reservoirs & Standpipes $377 $420 $43
331 Trans. & Distrib. Mains & Accessories $3,808 $4,266 $458
333 Services $329,908 $352,634 $22,726
334 Meters and Meter Installations $58,562 $62,210 $3,648
335 Hydrants $-$-$-
336 Backflow Prevention Devices $-$-$-
339 Other Plant & Misc. Equipment $-$-$-
340 Office Furniture and Equipment $17,622 $17,977 $355
341 Transportation Equipment $94,599 $100,805 $6,206
342 Stores Equipment $-$-$-
343 Tools, Shop and Garage Equipment $12,772 $14,003 $1,231
344 Laboratory Equipment $-$-$-
345 Power Operated Equipment $-$-$-
346 Communications Equipment $-$-$-
347 Miscellaneous Equipment $-$-$-
348 Other Tangible Propert $82 $86 $4
TOTALS (Add Lines 1 - 25)$1,715,404 $1,791,409 $76,005
Enter beginning & end of year totals on Pg 7. Line 7
Rev 3/02 Page 6
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Name: Capitol Water Corpration
BALANCE SHEET
For Year Ended December 31, 2007
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 Utilty Plant in Service (From Pg 5. Line 29)$2,662,883 2,754,137 $91,254
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)$2,662,883 $2,754,137 $91,254
108.1 Accumulated Depreciation (From Pg 6, Line 26)$1,715,404 $1,791,409 $76,005
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)$947,479 $962,728 $15,249
123 Investment in Subsidiaries $-
125 Other Investments $60,763 60,763 $-
Total Investments (Add lines 14 & 15)$60,763 $60,763 $-
131 Cash $(120)74,903 $75,023
135 Short Term Investments $-
141 Accts/Notes Receivable - Customers $56,161 78,847 $22,686
142 Other Receivables $-
145 Receivables from Associated Companies $-
151 Materials & Supplies Inventory $6,801 5,715 $(1,086)
162 Prepaid Expenses $-831 $831
173 Unbiled (Accrued) Utility Revenue $-
143 Provision for Uncollectable Accounts $-
Total Current (Add lines 17 -24 less line 25)$62,842 $160,296 $97,454
181 Unamortized Debt Discount & Expense $-
183 Preliminary Survey & Investigation Charges $-
184 Deferred Rate Case Expenses $-
186 Other Deferred Charges $-
1,183,787 $112,703$ 1,071,084 $Total Assets (Add lines 13, 16 & 26 - 30)
Rev 3/02 Page 7
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Name: Capitol Water Corporation
BALANCE SHEET
For Year Ended December 31, 2007
LIABILITIES & CAPITAL 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)
201-3 Common Stock $10,000 10,000 $-
204-6 Preferred Stock $-
207-13 Miscellaneous Capital Accounts $29,200 29,200 $-
214 Appropriated Retained Earnings $-
215 Unappropriated Retained Earnings $557,556 645,118 $87,562
216 Reacquired Capital Stock $-
218 Proprietary Capital $-
Total Equity Capital (Add Lines 1-5+7 less line 6)$596,756 $684,318 $87,562
221-2 Bonds $5,000 5,000 $-
223 Advances from Associated Companies $-
224 Other Long - Term Debt $-
231 Accounts Payable $5,538 4,989 $(549)
232 Notes Payable $93,946 86,219 $(7,727)
233 Accounts Payable - Associated Companies $-
235 Customer Deposits (Refundable)$-
236.11 Accrued Other Taxes Payable $36,207 36,811 $604
236.12 Accrued Income Taxes Payable $(5,166)46,876 $52,042
236.2 Accrued Taxes - Non-Utility $-
237-40 Accrued Debt, Interest & Dividends Payable $-0 $-
241 Misc. Current & Accrued Liabilities $-
251 Unamortized Debt Premium $-
252 Advances for Construction $281,115 261,886 $(19,229)
253 Other Deferred Liabilities $-
255.1 Accumulated Investment Tax Credits - Utility $-
255.2 Accum. Investment Tax Credits - Non-Utilty $-
261-5 Operating Reserves $-
271 Contributions in Aid of Construction $160,882 160,882 $. -
272 Accum. Amort. of Contrib. in Aid of Const. **$(103,194)(103,194)$-
281-3 Accumulated Deferred Income Taxes $-
Total Liabilities (Add lines 9 - 29 $474,328 $499,469 $25,141
TOTAL LIAB & CAPITAL ( Add lines 8 & 30)$1,071,084 $1,183,787 $112,703
** Only if Commission Approved
Rev 3/02 Page 8
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Name: Capitol Water Corporation
For Year Ended
STATEMENT OF RETAINED EARNINGS
December 31, 2007
1
2
3
4
5
6
Retained Earnings Balance (§ Beginning of Year
Amount Added from Current Year Income (From Pg 4, Line 32)
Other Credits to Account
Dividends Paid or Appropriated
Other Oistributions of Retained Earnings
Retained Earnings Balance (§ End of Year
$557,556
$112,966
(20,000)
(5,404)
$645,118
CAPITAL STOCK DETAIL
No. Shares
7 Description (Class, Par Value etc.)
Common Stock
No. Shares Dividends
Authorized OutstandinQ Paid
250 100 15,000.00
DETAIL OF LONG-TERM DEBT
Interest
8 D
Year-end Interest Interest
escription Rate Balance Paid Accrued
Advances for Construction N/A None
Debentures 10%5,000.00 500.00
Note- R. Price 9%73,622.01
Note- Bavhil 7.87%12,596.61 2,701.00
Note- B of A 7.25%0.00 1,599.00
Rev 3/02 Page 9
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Name: Capitol Water Corpration
SYSTEM ENGINEERING DATA
For Year Ended December 31, 2007
1 Provide an updated system map if significant changes have been made to the system during the year.
2 Type of
Treatment:
(None, Chlorine
Fluoride
Water
Supply
Source
(Well, Spring,
Water Supply:
Rated
Capacity
Annual
Production
Pump Designation or location (gpm)Filter etc.)(COO'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 - redriled in 2002 1500 None Well
Well #6 1500 ASR Well
Well #7 1500 Phosphate Well
3 System Storage:
Total
Capacity
OOO's
Usable
Capacity
OOO's
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 facilties added this year.)
Rev 3/02 Page 10
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Name: Capitol Water Corporation
SYSTEM ENGINEERING DATA
(continued)
For Year Ended December 31, 2007
4 Pump information for ALL system pumps, including wells and boosters.
Designation or Location Horse
Rated
Capacity
Discharge
Pressure
Energy
Used
& Tvoe of Pumo**Power (com)(osi)This Year
Well #1 30 350 70
Well #2- inoperative 25
Well #3 100 350 70
Well #4 200 2000 60
Well #5 150 1500 75
Well #6 150 1500 70
Well #7 150 1500 75
... .** Submit pump curves unless previously provided or unavailable. Asterisk facilities added this year.
Attch 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?
1,010,000,000
172,276,000
6,870,000
6 If customers are metered, what was the total amount sold in peak month?N/A
7 Was your system designed to supply fire flows?
If Yes: What is current system rating?
Yes
Included
8 How many times were meters read this year?
During which months?
Daily
Jan to Dec
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?
Unknown
Unknown
10 Are backbone plant additions anticipated during the coming year?
If Yes, attach an explanation of projects and anticipated costs!
No
11 In what year do you anticipate that the system capacity (supply, storage or distribution)
wil have to be expanded?Unknown
Rev 3/02 Page 11
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Name: Capitol Water Corporation
SYSTEM ENGINEERING DATA
(continued)
For Year Ended December 31, 2007
FEET OF MAINS
Pipe
Size
In Use
Beginning
Of Year
Installed
During
Year
Abandoned
During
Year
In Use
End of
Year
10"600 .600
2"7,966 7,966
4"23,740 23,740
6"76,014 520 76,534
8"41,645 1120 42,765
12"2,060 320 2,380
3/4"58,793 400 59,193
1"4,016 700 4,716
11/2"290 290
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CUSTOMER STATISTICS
Number of Customers Thousands of Gallons Sold
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
This Last This Last
Year Year Year Year
261 258
2296 2296
24 24
125 125
172 170
2878 2873 0 0
6 Street Sprinkling
7 Municipal, Other
8 Other Water Utilities
TOTALS (Add lines 2 through 8)
Rev 3/02 Page 12
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CERTIFICATE
State of Idaho )
1£ ) ssf h
County of ',-' =,)
WE, the undersigned
and
of the
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.ßk-4
(Chief Officer)
(Officer in Charge of Accounts)
Subscribed and Sworn to Before Me
,acoß
NOTARY PUBLIC
My Commissio Exire k 3, aoJ
gdklexcelljnelsoanulrpnualrpl
Rev 3/02 Page 13