2006Annual Report.pdf

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, TOTH-
IDAHO PUBLIC
UTiliTIES COMMISSION
FOR THE
YEAR ENDED DeCeAbe.r 3( 2000
ANNUAL REPORT FOR WATER UTILITIES TO
THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING 12/31/2006
COMPANY INFORMATION
Island Park Water Company
208-529-5046
1 Give full name of utility
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
5/1/1976
Idaho
1045 Syringa Drive
Idaho Falls
Idaho
83401
Corporation
Fremont County
11 Are there any affiliated companies? None
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 made
to 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 325 South WoodruffCity Idaho FallsState Idaho
Zip
Explain any services
Phone No.Name
David Benton 208-522-8033
David Benton 208-529-5046
David Benton 208-522-8033
Bill Warner 208-558-7903
Travis John 208-524-5171
None
83401
Page 1Rev 3/02
NAME:Island Park Water Company
COMPANY INFORMATION (Cont.)
For the Year Ended 12/31/2006
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?
N/A
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
N/A
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
Rev 3/02 Page 2
NAME:
ACCT #
460
461,
461.
462
464
465
466
400
Island Park Water Company
REVENUE & EXPENSE DETAIL
For the Year Ended 12/31/2006
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
33 Total Operating Expenses (Add lines 12 - 32, also enter on Pg 4, line 2)
Rev 3/02 Page 3
105.
105,
Booked to Acct #
Booked to Acct #
Booked to Acct #
334.
000,
199.46
191,
805.
242,
480,
940.
200,
393.
Name:
ACCT #
Island Park Water Company
INCOME STATEMENT
For Year Ended 12/31/2006
DESCRIPTION
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 (PUC)
Property Taxes
Payroll Taxes
Other Taxes (list)
393.
158,
103,
222.
150,DEQ Fees
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 , & 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)
20,
Page 4
105,
048.
186,
(12 943,23)
186,
(12 757.22)
757,
Name:Island Park Water Company
ACCOUNT 101 PLANT IN SERVICE DETAIL
For Year Ended 12/31/2006
SUB
ACCT #
Balance
Beginning
of Year
Balance
End of
Year
Added
During
Year
Removed
During
YearDESCRIPTION
301 Organization
302 Franchises and Consents
303 land & land Rights
304 Structures and Improvements
305 Collecting & Impounding Reservoirs
306 lake, River & Other Intakes
307 Wells 950,950,
308 Infiltration Galleries & Tunnels
309 Supply Mains
310 Power Generation Equipment
311 Power Pumping Equipment 038,038.
320 Purification Systems
330 Distribution Reservoirs & Standpipes
331 Trans, & Distrib, Mains & Accessories
333 Services 733,733,
334 Meters and Meter Installations
335 Hydrants
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 562.45 562.45
348 Other Tangible Property
TOTAL PLANT IN SERVICE
(Add lines 1 - 28)
72,286.11 72 286.
Enter beginning & end of year totals on Pg 7, Line 1
Rev 3/02 Page 5
Name:Island Park Water Company
ACCUMULATED DEPRECIATION ACCOUNT 108.1 DETAIL
For Year Ended 12/31/2006
SUB
Depreciation
Rate
Balance
End of
IncreaseBalance
Beginning
ACCT #DESCRIPTION of Year Year (Decrease)
304 Structures and Improvements
305 Collecting & Impounding Reservoirs
306 lake, River & Other Intakes
307 Wells 382.980,597.
308 Infiltration Galleries & Tunnels
309 Supply Mains
310 Power Generation Equipment
311 Power Pumping Equipment 7,475,977,501,
320 Purification Systems
330 Distribution Reservoirs & Standpipes
331 Trans, & Distrib. Mains & Accessories
333 Services 20%974,921,946,
334 Meters and Meter Installations
335 Hydrants
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 20%32,145.112.49
348 Other Tangible Property
TOTALS (Add Lines 1 - 25)866.024,158.
Enter beginning & end of year totals on Pg 7, Line 7
Rev 3/02 Page 6
Name:Island Park Water Company
BALANCE SHEET
For Year Ended 12/31/2006
ASSETS IncreaseBalance
Beginning
Balance
End of
ACCT #DESCRIPTION of Year Year (Decrease)
101 Utility Plant in Service (From Pg 5, Line 29)286.286,
102 Utility Plant leased to Others
103 Plant Held for Future Use
105 Construction Work in Progress
114 Utility Plant Aquisition Adjustment
7 108.
8 108.
9 108,
10 110,
11 110,
12 115
14 123
15 125
17 131
18 135
19 141
20 142
21 145
22 151
23 162
24 173
25 143
27 181
28 183
29 184
30 186
Rev 3/02
Subtotal (Add Lines 1 - 5)
Accumulated Depreciation (From Pg 6 , Line 26)
Accum, Depr. - Utility Plant lease to Others
Accum. Depr. - Property Held for Future Use
Accum, Amort, - Utility Plant in Service
Accum, Amort, - Utility Plant lease to Others
Accumulated Amortization - Aquisition Adj,
Net Utility Plant (Line 6 less lines 7 - 12)
Investment in Subsidiaries
Other Investments
286.286.
866.024.158,
50,420.261,158,74)
Total Investments (Add lines 14 & 15)
Cash
Short Term Investments
Accts/Notes Receivable - Customers
531.683,848.48)
Other Receivables
Receivables from Associated Companies
Materials & Supplies Inventory
Prepaid Expenses
Unbilled (Accrued) Utility Revenue
Provision for Uncollectable Accounts
Total Current (Add lines 17 -24 less line 25)
Unamortized Debt Discount & Expense
Preliminary Survey & Investigation Charges
Deferred Rate Case Expenses
Other Deferred Charges
Total Assets (Add lines 13, 16 &26 - 30)
531,683,848.48)
944.(12 007.22)951.
Page 7
Name:
BALANCE SHEET
Island Park Water Company
For Year Ended 12/31/2006
LIABILITIES & CAPITAL Balance
Beginning
Balance
End of
Increase
ACCT #DESCRIPTION of Year Year (Decrease)
201-Common Stock
204-Preferred Stock
207-Miscellaneous Capital Accounts
214 Appropriated Retained Earnings (45,267,72)(58 024.94)(12 757.22)
215 Unappropriated Retained Earnings
216 Reacquired Capital Stock
218 Proprietary Capital
9 221-
10 223
11 224
12 231
13 232
14 233
15 235
16 236,
17 236,
18 236.
19 237-
20 241
21 251
22 252
23 253
24 255,
25 255,
26 261-
27 271
28 272
29 281-30 Total Liabilities (Add lines 9 - 29
31 TOTAL LlAB & CAPITAL (Add lines 8 & 30)
** Only if Commission Approved
Total Equity Capital (Add Lines 1-5+7 less line 6)
Bonds
Advances from Associated Companies
Other long - Term Debt
Accounts Payable
Notes Payable
Accounts Payable - Associated Companies
Customer Deposits (Refundable)
Accrued Other Taxes Payable
Accrued Income Taxes Payable
Accrued Taxes - Non-Utility
Accrued Debt, Interest & Dividends Payable
Misc. Current & Accrued Liabilities
Unamortized Debt Premium
Advances for Construction
Other Deferred Liabilities
Accumulated Investment Tax Credits - Utility
Accum, Investment Tax Credits - Non-Utility
Operating Reserves
Contributions in Aid of Construction
Accum, Amort, of Contrib, in Aid of Const **
Accumulated Deferred Income Taxes
Rev 3/02 Page 8
(45 267.72)(58 024.94)(12 757.22)
133 219.133 969.750,
133 219.
951.85 I
750,
(12 007.22)\
133 969.
944,63 I
Name:Island Park Water Company
STATEMENT OF RETAINED EARNINGS
For Year Ended 12/31/2006
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 Distributions of Retained Earnings
Retained Earnings Balance ~ End of Year
(45 267.72)
(12 757.22)
(58 024.
CAPITAL STOCK DETAIL
No. Shares No, Shares Dividends
P 'Description (Class, Par Value etc.. dAut orlze utstan mg
DETAIL OF LONG-TERM DEBT
Interest
R t
Year-end
B I
InterestInterest
P 'escrlptlon a e a ance ccrue
Rev 3/02 Page 9
CERTIFICATE
State of Idaho
) ss
County of Bonneville
, the undersigned David Benton
and David Benton
of the Island Park Water Company
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,
(Chief Officer)
fa cvviJ z.
(Officer in Charge of Accounts)
My Commission Expires I1UJU.:2f, .20
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Subscribed and Sworn to Before Me
this day of--':1 a..y
0; t1uAd /J
NOTARY PUBLIC
106
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Rev 3/02 Page 13