2022Annual Report.pdf

ANNUAL REPORT
OF
Capitol Water Corporation
2626 Eldorado St.
Boise,ID 83704
TO THE
IDAHO PUBLIC
UTILITIES COMMISSION
FOR THE
YEAR ENDED 2022
CAP-W
COLES
REINSTEIN
Account ng a Consu|ting Dennis R.Reinstein,CPA/ABV ASA.CVA
S.Jason Coles,MBA.CPA PFS
Keith A.Pinkerton,MBA.CFA.ASA
Susan M.Langley,CPA.CFE
Nate Lining,CPA
Board of Directors
Capitol Water Corporation
Boise,Idaho
Management is responsible the accompanying financial statements of Capitol Water Corporation,whichcomprisethebalancesheetasofDecember31,2022 and the related statements of income and retained
earnings for the year then ended in the accompanying prescribed form of the Idaho Public UtilitiesCommission.We haveperformed a compilation engagementin accordance with Statements on StandardsforAccountingandReviewServicespromulgatedbytheAccountingandReviewServicesCommitteeoftheAICPA.We have also compiled the supplementaryschedules of revenue and expense detail,plant inservicedetail,accumulated depreciation detail,capital stock detail,detail of long-term debt and systemengineeringdataintheprescribedformoftheIdahoPublicUtilitiesCommission.We did not audit orreviewthefinancialstatementsnorwerewerequiredtoperformanyprocedurestoverifytheaccuracyor
completeness of the information provided by management.Accordingly,we do not express an opinion,aconclusion,nor provide any form of assurance on these financial statements.
The financial statements and supplementary information are presented in accordance with therequirementsoftheIdahoPublicUtilitiesCommission,which differ from accounting principles
generally accepted in the UnitedStates of America.
Boise,ID
April 29,2023
R/ember of Arnerican Institute of Certified Public Accountants and ídaho Societv of Cert/Sed R h//c Acccia
University Plaza,960 Broadway Ave.Suite 415.Boise,lO 83706 T 208.345 2350 F 208 344 19
ANNUAL REPORTFOR WATER UTILITIESTO
THE IDAHOPUBLIC UTILITIESCOMMISSION
FOR THE YEAR ENDING December31,2022
COMPANYINFORMATION
1 Give full name of utility Capitol Water Corporation
2 Date of Organization April 7,1959
3 Organized under the laws of the state of Idaho
4 Address of Principal Office (number &street)2626 Eldorado
5 P.O.Box (if applicable)
6 City Boise
7 State Idaho
8 Zip Code 83704
9 Organization (proprietor,partnership,corp.)Corporation
10 Towns,Counties served Boise
Ada County
11 Are there any affiliatedcompanies?No
If yes,attach a list with names,addresses &descriptions.Explain any services
provided to the utility.
12 Contact Information Name Phone No.
President (Owner)H.RobertPrice 375-0931
Vice President
Secretary H.RobertPrice 375-0931
General Manager H.RobertPrice 375-0931
Complaintsor Billing H.RobertPrice 375-0931
Engineering H.RobertPrice 375-0931
Emergency Service H.RobertPrice 375-0931
Accounting Coles Reinstein PLLC 345-2350
13 Were any water systems acquired during the year or any additions/deletionsmade
to the service area during the year?No
If yes,attach a list with names,addresses &descriptions.Explain any servicesprovidedtotheutility.
14 Where are the Company's books and records kept?
Street Address 2626 Eldorado
City Boise
State Idaho
Zip 83704
Rev 3/02 Page 1
NAME:Capitol Water Corporation
COMPANY INFORMATION(Cont.)
For the Year Ended December31,2022
15 Is the system operated or maintainedunder a
servicecontract?No
16 If yes:With whom is the contract?
When does the contract expire?
What servicesand rates are included?
17 Is water purchasedfor resale throughthe system?No
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 disapprovedby the
Idaho Division of EnvironmentalQuality?No
If yes,attach full explanation
20 Has the Idaho Division of EnvironmentalQuality
recommendedany improvements?No
If yes,attach full explanation
21 Numberof Complaintsreceivedduring year concerning:
Quality of Service 4
High Bills 0
Disconnection 0
22 Number of Customers involuntarilydisconnected 3
23 Date customers last receiveda copy of the Summary
of Rules requiredby IDAPA 31.21.01.701?1-Dec-22
Attach a copy of the Summary
24 Did significant additions or retirements from the
Plant Accounts occur during the year?No
If yes,attach full explanation
and an updated system map
Rev 3/02 Page 2
NAME:Capitol Water Corporation
REVENUE &EXPENSE DETAIL
For the Year Ended December31,2022ACCT#DESCRIPTION
400 REVENUES
1 460 UnmeteredWater Revenue $574,786
2 461.1 MeteredSales -Residential
3 461.2 MeteredSales -Commercial,Industrial 132,409
4 462 Fire Protection Revenue -
5 464 Other Water Sales Revenue 50,327
6 465 IrrigationSales Revenue
7 466 Sales for Resale
8 400 Total Revenue(Add Lines 1 -7)$757,522
(also enter result on Page 4,line 1)
9 *DEQ Fees Billed separatelyto customers Booked to Acct #
10 **Hookup or Connection Fees Collected Booked to Acct #
11 ***CommissionApproved SurchargesCollected -Booked to Acct #460.5
401 OPERATINGEXPENSES
12 601.1-6 Labor -Operation&Maintenance 84,260
13 601.7 Labor -CustomerAccounts 75,086
14 601.8 Labor -Administrative&General 17,150
15 603 Salaries,Officers &Directors 41,650
16 604 Employee Pensions &Benefits 29,831
17 610 PurchasedWater
18 615-16 PurchasedPower &Fuel for Power 105,652
19 618 Chemicals 27,710
20 620.1-6 Materials &Supplies -Operation&Maint.4,811
21 620.7-8 Materials &Supplies -Administrative&General 22,376
22 631-34 Contract Services -Professional 18,814
23 635 Contract Services -Water Testing
24 636 Contract Services -Other 21,272
25 641-42 Rentals -Property &Equipment
26 650 Transportation Expense 9,186
27 656-59 Insurance 7,422
28 660 Advertising
29 666 Rate Case Expense (Amortization)
30 667 RegulatoryComm.Exp.(Other except taxes)
31 670 Bad Debt Expense 558
32 675 Miscellaneous 9,057
33 Total Operating Expenses (Add lines 12 -32,also enter on Pg 4,line 2)$474,835
Rev 3/02 Page 3
Name:Capitol Water Corporation
INCOME STATEMENT
For Year Ended December31,2022ACCT#DESCRIPTION
1 Revenue (From Page 3,line 8)$757,522
2 OperatingExpenses (From Page 3,line 33)$474,835
3 403 DepreciationExpense 74,727
4 406 Amortization,Utility Plant Aquisition Adj.
5 407 Amortization Exp.-Other
6 408.10 RegulatoryFees (PUC)1,516
7 408.11 Property Taxes 25,705
8 408.12 Payroll Taxes 17,128
9A 408.13 Other Taxes (list)DEQ Fees
9B Vehicles 232
9C
9D
10 409.10 Federal Income Taxes 21,717
11 409.11 State IncomeTaxes 6,715
12 410.10 Provisionfor DeferredIncome Tax -Federal
13 410.11 Provisionfor DeferredIncome Tax -State
14 411 Provisionfor Deferred Utility Income Tax Credits
15 412 InvestmentTax Credits -Utility
16 Total Expenses from operations before interest (add lines 2-15)622,575
17 413 Income From Utility Plant Leased to Others
18 414 Gains (Losses)From Disposition of Utility Plant 0
19 Net ÓperatingIncome (Add lines 1,17 &18 less line 16)134,947
20 415 Revenues,MerchandizingJobbingand Contract Work
21 416 Expenses,Merchandizing,Jobbing&Contracts
22 419 Interest &DividendIncome 614
23 420 Allowance for Funds used During Construction
24 421 MiscellaneousNon-Utility Income
25 426 MiscellaneousNon-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)614
29 Gross Income (add lines 19 &28)135,561
30 427.3 Interest Exp.on Long-TermDebt 116
31 427.5 Other Interest Charges
32 NET INCOME (Line 29 less lines 30 &31)(Also Enter on Pg 9,Line 2)$135,445
Rev 3/02 Page 4
Name:Capitol Water Corporation
ACCOUNT 101 PLANT IN SERVICE DETAIL
For Year Ended December31,2022
Balance Added Removed BalanceSUBBeginningDuringDuringEndofACCT#DESCRIPTION of Year Year Year Year
1 301 Organization $3,584 $3,584
2 302 Franchises and Consents $40,969 $40,969
3 303 Land &Land Rights $16,410 $16,410
4 304 Structures and Improvements $147,166 $147,166
5 305 Collecting&ImpoundingReservoirs $2,452 $2,452
6 306 Lake,River &Other Intakes -
7 307 Wells $344,074 $831 $344,905
8 308 InfiltrationGalleries &Tunnels -
9 309 Supply Mains $1,330,777 $7,703 $1,338,480
10 310 PowerGenerationEquipment $5,423 $2,310 $7,733
11 311 PowerPumping Equipment $291,436 $1,592 $293,028
12 320 PurificationSystems $25,606 $25,606
13 330 Distribution Reservoirs&Standpipes $51,981 $5,843 $57,824
14 331 Trans.&Distrib.Mains &Accessories $33,848 $5,023 $38,871
15 333 Services $1,100,366 $36,550 $1,136,916
16 334 Meters and Meter Installations $133,825 $3,752 $137,577
17 335 Hydrants $5,000 $5,000
18 336 Backflow PreventionDevices -
19 339 Other Plant &Misc.Equipment $529 $79 $608
20 340 Office Furnitureand Equipment $35,293 $856 $36,149
21 341 Transportation Equipment $173,824 $173,824
22 342 Stores Equipment $-
23 343 Tools,Shop and Garage Equipment $39,132 $760 $39,892
24 344 LaboratoryEquipment -
25 345 Power Operated Equipment -
26 346 CommunicationsEquipment $928 $928
27 347 MiscellaneousEquipment -
28 348 Other TangibleProperty $404 $404
29 TOTAL PLANT IN SERVICE $3,783,027 $65,299 $-$3,848,326
(Add lines 1 -28)Enter b ginning &end of year totals on Pg 7,Line i
Rev3/02 Page 5
I
Name:Capitol Water Corporation
ACCUMULATEDDEPRECIATIONACCOUNT 108.1 DETAIL
For Year Ended December31,2022
Depreciation Balance Balance IncreaseSUBRateBeginningEndoforACCT#DESCRIPTION %of Year Year (Decrease)
1 304 Structures and Improvements $128,086 $129,653 $1,567
2 305 Collecting&ImpoundingReservoirs $2,452 $2,452 $-
3 306 Lake,River &Other Intakes -
4 307 Wells $256,550 $261,837 $5,287
5 308 Infiltration Galleries &Tunnels -
6 309 Supply Mains $1,148,497 $1,161,386 $12,889
7 310 PowerGeneration Equipment $1,668 $1,939 $271
8 311 Power Pumping Equipment $219,171 $226,069 $6,898
9 320 PurificationSystems $22,723 $22,961 $238
10 330 Distribution Reservoirs&Standpipes $6,293 $8,490 $2,197
11 331 Trans.&Distrib.Mains &Accessories $18,344 $19,656 $1,312
12 333 Services $749,354 $777,200 $27,846
13 334 Meters and Meter Installations $108,090 $110,143 $2,053
14 335 Hydrants $917 $1,117 $200
15 336 BackflowPreventionDevices -
16 339 Other Plant &Misc.Equipment $38 $61 $23
17 340 Office Furnitureand Equipment $31,446 $32,442 $996
18 341 TransportationEquipment $114,694 $125,610 $10,916
19 342 Stores Equipment -
20 343 Tools,Shop and Garage Equipment $30,083 $32,105 $2,022
21 344 Laboratory Equipment -
22 345 PowerOperated Equipment -
23 346 CommunicationsEquipment $927 $927 $-
24 347 MiscellaneousEquipment -
25 348 Other Tangible Property $138 $150 12
26 TOTALS (Add Lines 1 -25)$2,839,471 $2,914,198 $74,727
Enter be ginning &end of year totals on Pg 7,Line 7
Rev 3/02 Page 6
Name:Capitol Water Corporation
BALANCE SHEET
For Year Ended December31,2022
ASSETS Balance Balance Increase
Beginning End of orACCT#DESCRIPTION of Year Year (Decrease)
1 101 Utility Plant in Service (From Pg 5,Line 29)$3,783,027 3,848,326 $65,299
2 102 Utility Plant Leased to Others -
3 103 Plant Held for Future Use -
4 105 ConstructionWork in Progress -
5 114 Utility Plant Aquisition Adjustment -
6 Subtotal (Add Lines 1 -5)$3,783,027 $3,848,326 $65,299
7 108.1 Accumulated Depreciation(From Pg 6,Line 26)$2,839,471 $2,914,198 $74,727
8 108.2 Accum.Depr.-Utility Plant Lease to Others -
9 108.3 Accum.Depr.-Property Held for Future Use -
10 110.1 Accum.Amort.-Utility Plant in Service -
11 110.2 Accum.Amort.-Utility Plant Lease to Others -
12 115 AccumulatedAmortization -Aquisition Adj.-
13 Net Utility Plant (Line 6 less lines 7 -12)$943,556 $934,128 $(9,428)
14 123 Investmentin Subsidiaries -
15 125 Other Investments $--$-
16 Total Investments(Add lines 14 &15)$--$-
17 131 Cash $321,724 $186,347 $(135,377)
18 135 Short Term Investments -
19 141 Accts/Notes Receivable-Customers $16,178 $14,210 $(1,968)
20 142 Other Receivables -
21 145 Receivablesfrom Associated Companies -
22 151 Materials &Supplies Inventory $--$-
23 162 Prepaid Expenses $2,694 $-$(2,694)
24 173 Unbilled (Accrued)Utility Revenue -
25 143 Provisionfor Uncollectable Accounts -
26 Total Current (Add lines 17 -24 less line 25)$340,596 $200,557 $(140,039)
27 181 UnamortizedDebt Discount &Expense -
28 183 Preliminary Survey &InvestigationCharges -
29 184 DeferredRate Case Expenses -
30 186 Other DeferredCharges -
31 Total Assets (Add lines 13,16 &26 -30)$1,284,152 $1,134,685 $(149,467)
Rev 3/02 Page 7
Name:Capitol Water Corporation
BALANCE SHEET
For Year Ended December31,2022
LIABILITIES &CAPITAL Balance Balance Increase
Beginning End of orACCT#DESCRIPTION of Year Year (Decrease)
1 201-3 Common Stock $10,000 $10,000 -
2 204-6 PreferredStock -
3 207-13 MiscellaneousCapital Accounts $29,200 $29,200 -
4 214 Appropriated Retained Earnings -
5 215 UnappropriatedRetainedEarnings $921,564 $962,121 $40,557
6 216 ReacquiredCapital Stock -
7 218 ProprietaryCapital -
8 Total Equity Capital (Add Lines 1-5+7 less line 6)$960,764 $1,001,321 $40,557
9 221-2 Bonds $5,000 $5,000 -
10 223 Advances from Associated Companies -
11 224 Other Long -Term Debt -
12 231 Accounts Payable $12,246 $9,720 $(2,526)
13 232 Notes Payable -
14 233 Accounts Payable -Associated Companies
15 235 Customer Deposits (Refundable)-
16 236.11 Accrued Other Taxes Payable $5,164 $12,541 $7,377
17 236.12 Accrued Income Taxes Payable $27,480 $(16,951)$(44,431)
18 236.2 Accrued Taxes -Non-Utility -
19 237-40 Accrued Debt,Interest &DividendsPayable -
20 241 Misc.Current&Accrued Liabilities -
21 251 UnamortizedDebt Premium -
22 252 Advances for Construction $280,602 $226,608 $(53,994)
23 253 Other Deferred Liabilities -
24 255.1 Accumulated InvestmentTax Credits -Utility -
25 255.2 Accum.InvestmentTax Credits -Non-Utility -
26 261-5 OperatingReserves -
27 271 Contributionsin Aid of Construction $136,468 $40,018 (96,450)
28 272 Accum.Amort.of Contrib.in Aid of Const.**$(143,572)$(143,572)-
29 281-3 Accumulated DeferredIncome Taxes -
30 Total Liabilities (Add lines 9 -29 $323,388 $133,364 $(190,024)
31 TOTAL LIAB &CAPITAL (Add lines 8 &30)$1,284,152 $1,134,685 $(149,467)
**Only if Commission Approved
Rev 3/02 Page 8
Name:Capitol Water Corporation
STATEMENTOF RETAINEDEARNINGS
For Year Ended December31,2022
1 Retained Earnings Balance @ Beginningof Year $921,564
2 Amount Added from CurrentYear Income (From Pg 4,Line 32)135,445
3 Other Credits to Account
4 Dividends Paid or Appropriated (84,384)
5 Other Distributionsof RetainedEarnings (10,504)
6 Retained Earnings Balance @ End of Year $962,121
CAPITAL STOCK DETAIL
No.Shares No.Shares Dividends
7 Description (Class,Par Value etc.)Authorized Outstanding Paid
CommonStock 250 100 84,584.00
DETAILOF LONG-TERM DEBT
Interest Year-end Interest Interest
8 Description Rate Balance Paid Accrued
Advances for Construction N/A None
Debentures 10%5,000.00 500.00
Note-R.Price 9%0.00 -
Note-Bayhill 7.87%0.00 0.00
Note-B of A 7.25%0.00 0.00
Rev 3/02 Page 9
Name:Capitol Water Corporation
SYSTEM ENGINEERINGDATA
For Year Ended December31,2022
1 Providean updatedsystem map if significant changes have been made to the system during the year.
2 Water Supply:Type of Water
Treatment:Supply
Rated (None,Chlorine Annual Source
Capacity Fluoride Production (Well,Spring,Pump Designationor location (gpm)Filter etc.)(000'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 Phosphate Well
Well #6 1500 ASR Well
Well #7 1500 Phosphate Well
3 System Storage:
Total Usable Type of
Capacity Capacity Reservoir Construction
000's 000's (Elevated,Pres-(Wood,SteelStorageDesignationorLocationGal.Gal.urized,Boosted)Concrete)
Well #1 1500 Pressurized Steel
Well #2
Well #3
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 ENGINEERINGDATA
(continued)
For Year Ended December31,2022
4 Pump information for ALL system pumps,including wells and boosters.
Rated Discharge EnergyDesignationorLocationHorseCapacityPressureUsed
&Type of Pump**Power (gpm)(psi)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.Attach additional sheets if inadequate space is available on this page.
5 If Wells are metered:
What was the total amount pumped this year?523,926,000
What was the total amount pumped during peak month?111,236,000
What was the total amount pumped on the peak day?7,945,000
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?Yes
If Yes:What is current system rating?Included
8 How many times were meters read this year?Daily
Duringwhich months?Jan to Dec
9 How many additional customers could be served with no system improvementsexceptaservicelineandmeter?Unknown
How many of those potential additions are vacant lots?Unknown
10 Are backbone plant additions anticipated during the coming year?NoifYes,attach an explanation of projects and anticipated costs!
11 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 ENGINEERINGDATA
(continued)
For Year Ended December31,2022
FEET OF MAINS
In Use Installed Abandoned In Use
1 Pipe Beginning During During End ofSizeOfYearYearYearYear
10"600 600
2"7,966 7,966
4"23,740 23,740
6"76,874 76,874
8"42,765 42,765
12"2,380 2,380
3/4"59,193 59,193
1"4,918 4,918
11/2"290 290
CUSTOMERSTATISTICS
Numberof Custcmers Thot sands of Gallons Sold
This Last This Last
Year Year Year Year
2 Metered:
2A Residential
2B Commercial 279 275
2C Industrial
3 Flat Rate:
3A Residential 2521 2498
3B Commercial 0 0
3C Industrial O O
4 Private Fire Protection 35 30
5 Public Fire Protection 184 182
6 Street Sprinkling
7 Municipal,Other
8 Other Water Utilities
TOTALS (Add lines 2 through 8)3019 2985 0 0
Rev 3/02 Page 12
CERTIFICATE
State of Idaho )
)ss
County of )
WE,the undersigned .Ñt>CV Yt GC/
of the O gi k Woter CorgmAion
utility,on our oath do severallysay that the foregoing reporthas been preparedunder our direction,
from the original books,papers and records of said utility;that we have carefullyexaminedsame,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,informationand belief.
(Chief Officer)
(Officer in Chargeof Accounts)Shbscribed and Sworn to Before Me
,201¾,
NËTA UBLIC i
My Commission Expires 6 201 ....ess
gdklexcel/jnelsonlanulrpts/wtrannuatrpt
Rev 3/02 Page 13