2007Annual Report.pdf

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ANNUAL REPOii/-pØ
OF iSL-W
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NAME
Gl"¿A~Y, ,
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; . ADDRÊSS
TO THE
IDAHO PUBLIC
UTILITIES COMMISSION
FOR THE
YEAR ENDED Ot.ÛYñlr sJ.2007
ANNUAL REPORT FOR WATER UTILITIES TO
THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING 12/31/2007
11 Are there any affilated companies? None
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 325 South WoodruffCity Idaho FallsState IdahoZip 83401
1 Give full name of utiity
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
Island Park Water Company
208-529-5046
iph2o"Rmsn.com
5/1/1976
Idaho
1 045 Syringa Drive
R 0 ß ~lC :i g 17 EJtlid t¡ JLI £3 íj /) 3'
Idaho Falls
Idaho
83401
Corporation
Fremont County
Phone No
David Benton 208-522-8033
David Benton 208.529-5046
David Benton 208.522.8033
Bil Warner 208.558.7903
Travis John 208.524.5171
Page 1
NAME:Island Park Water Company
COMPANY INFORMATION (Cont.)
For the Year Ended 12/31/2007
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?
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
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
Gallons/CCF $Amount
No
No
o
o
o
o
No
NAME:Island Park Water Company
REVENUE & EXPENSE DETAIL
For the Year Ended 12/31/2007
DESCRIPTION
400 REVENUES
ACCT#
1
2
3
4
5
6
7
8
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)
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
40,528.12
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
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 - 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)
11,687.26
2,000.00
15,440.02
28.71
212.00
2,093.00
1,180.00
975.50
1,200.00
Rev 3/02 Page 3
40,528.12
Booked to Acct #
Booked to Acct #
Bopked to Acct #
34,816.49
Name:
ACCT#
Island Park Water Company
INCOME STATEMENT
For Year Ended 12/31/2007
DESCRIPTION
1
2
3 403
4 406
5 407
6 408.10
7 408.11
8 408.12
9A 408.13
9B
9C
9D
10 409.10
11 409.11
12 410.10
13 410.11
14 411
15 412
16
17 413
18 414
19
20 415
21 416
22 419
23 420
24 421
25 426
26 408.20
27 409-20
28
29
30 427.3
31 427.5
32
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) DEQ Fees
40,528.12
34,816.49
5,458.88
109.87
1,606.02
25.00
Federal Income TaxesState Income Taxes 20.00
Provision for Deferred Income Tax - Federal
Provision for Deferred Income Tax. State
Provision for Deferred Utility Income Tax Credits
Investment Tax Credits. Utilty
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 Wòrk
Expenses, Merchandizing, Jobbing & Contracts
Interest & Dividend Income
Allowance for Funds used During Construction
Miscellaneous Non-Utilty Income
Miscellaneous Non-Utility Expense
Other Taxes, Non-Utility Operations
Income Taxes, Non-Utility Operations
Net Non-Utility Income (Add lines 20,22,23 & 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)
42,036.26
172.73
Page 4
(1,508.14)
172.73
(1,335.41)
(1,335.41)
Name:Island Park Water Company
ACCOUNT 101 PLANT IN SERVICE DETAIL
For Year Ended 12/31/2007
SUB
ACCT#
Balance
Beginning
of Year
Added
During
Year
Balance
End of
Year
Removed
During
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
302 Franchises and Consents
303 Land & Land Rights
304 Structures and Improvements
305 Collecting & Impounding Reservoirs
306 Lake, River & Other Intakes
307 Wells 31,950.93 14,026.17 45,977.10
308 Infiltration Galleries & Tunnels
309 Supply Mains
310 Power Generation Equipment
311 Power Pumping Equipment 30,038.98 30,038.98
320 Purification Systems
330 Distribution Reservoirs & Standpipes
331 Trans. & Distrib. Mains & Accessories
333 Services 9,733.75 9,733.75
334 Meters and Meter Installations
335 Hydrants
336 Backflow Prevention Devices
339 Other Plant & Misc. Equipment 4,588.51 4,588.51
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
29 72,286.11 18,614.68 90,900.79
Enter beginning & end of year totals on Pg 7, line 1
TOTAL PLANT IN SERVICE
(Add lines 1 . 28)
Rev 3/02 Page 5
Name:Island Park Water Company
For Year Ended 12/31/2007
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
305 Collecting & Impounding Reservoirs
306 Lake, River & Other Intakes
307 Wells 5%11,980.35 13,782.45 1,802.10
308 Infiltration Galleries & Tunnels
309 Supply Mains
310 Power Generation Equipment
311 Power Pumping Equipment 5%8,977.73 10,479.68 1,501.95
320 Purification Systems
330 Distribution Reservoirs & Standpipes
331 Trans. & Distrib. Mains & Accessories
333 Services 20%5,921.36 7,868.11 1,946.75
334 Meters and Meter Installations
335 Hydrants
336 Backflow Prevention Devices
339 Other Plant & Misc. Equipment 10%95.59 95.59
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%145.30 257.79 112.49
348 Other Tangible Property
TOTALS (Add lines 1 - 25)27,024.74 32,483.62 5,458.88
Enter beginning & end of year totals on Pg 7, Line 7
Rev 3/02 Page 6
Name:
BALANCE SHEET
Island Park Water Company
For Year Ended 12/31/2007
ASSETS Balance
Beginning
Balance
End of
Increase
or
ACCT#DESCRIPTION of Year Year (Decrease)
101 Utility Plant in Service (From Pg 5, line 29)72,286.11 90,900.79 18,614.68
102 Utilty Plant Leased to Others
103 Plant Held for Future Use
105 Construction Work in Progress
114 Utility Plant Aquisition Adjustment
1
2
3
4
5
6
7 108.1
8 108.2
9 108.3
10 110.1
11 110.2
12 115
13
14 123
15 125
16
17 131
18 135
19 141
20 142
21 145
22 151
23 162
24 173
25 143
26
27 181
28 183
29 184
30 186
31
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 Utilty Plant (line 6 less lines 7 - 12)
Investment in Subsidiaries
Other Investments
Total Investments (Add lines 14 & 15)
Cash
Short Term Investments
Accts/Notes Receivable. Customers
Other Receivables
Receivables from Associated Companies
Materials & Supplies Inventory
Prepaid Expenses
Unbiled (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)
Page 7
7228611 9090079 1861468,,
27,024.74 32,483.62 5,458.88
45,261.37 58,417.17 13,155.80
I I
30,683.26 19,392.05 (11,291.21)
30,683.26 (11,291.21)19,392.05
75,944.63 77,809.22 1,864.59
Name:
BALANCE SHEET
Island Park Water Company
For Year Ended 12/31/2007
LIABILITIES & CAPITAL Balance
Beginning
Balance
End of
Increase
or
ACCT#DESCRIPTION of Year Year (Decrease)
201-3 Common Stock
204-6 Preferred Stock
207-13 Miscellaneous Capital Accounts
214 Appropriated Retained Earnings (58,024.94)(59,360.35)(1,335.41)
215 Unappropriated Retained Earnings
216 Reacquired Capital Stock
218 Proprietary Capital
1
2
3
4
5
6
7
8 Total Equity Capital (Add Lines 1-5+7 less line 6)
9 221-2 Bonds
10 223 Advances from Associated Companies
11 224 Other Long . Term Debt
12 231 Accounts Payable
13 232 Notes Payable
14 233 Accounts Payable. Associated Companies
15 235 Customer Deposits (Refundable)
16 236.11 Accrued Other Taxes Payable
17 236.12 Accrued Income Taxes Payable
18 236.2 Accrued Taxes - Non-Utilty
19 237-40 Accrued Debt, Interest & Dividends Payable
20 241 Misc. Current & Accrued Liabilties
21 251 Unamortized Debt Premium
22 252 Advances for Construction
23 253 Other Deferred Liabilities
24 255.1 Accumulated Investment Tax Credits - Utilty
25 255.2 Accum. Investment Tax Credits. Non-Utility
26 261-5 Operating Reserves
27 271 Contributions in Aid of Construction
28 272 Accum. Amort. of Contrib. in Aid of Const. **
29 281-3 Accumulated Deferred Income Taxes
30 Total Liabilities (Add lines 9 - 29
31 TOTAL LIAS & CAPITAL (Add lines 8 & 30)
** Only if Commission Approved
Rev 3/02 Page 8
(58,024.94)(59,360.35)(1,335.41)
133,969.57 137,169.57 3,200.00
133,969.57
75,944.631
137,169.57
77,809.221
3,200.00
1,864.591
Name:Island Park Water Company
STATEMENT OF RETAINED EARNINGS
For Year Ended 12/31/2007
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
(58,024.94)
(1,335.41)
(59,360.35)
CAPITAL STOCK DETAIL
No. Shares
7 Description (Class, Par Value etc.)Authorized
No. Shares
Outstanding
Dividends
Paid
DETAIL OF LONG-TERM DEBT
8 Description
Interest
Rate
Year-end
Balance
Interest
Paid
Interest
Accrued
Rev 3/02 Page 9
Name:Island Park Water Company
SYSTEM ENGINEERING DATA
For Year Ended 12/31/2007
1 Provide an updated system map if significant changes have been made to the system during the year.
2 Water Supply:
Pump Designation or location
Type of Water
Treatment:Supply
Rated (None, Chlorine Annual Source
Capacity Fluoride Production (Well, Spring,
(i:pm)Filter etc.)(OOO's GaL)Surface Wtr)
3 System Storage:
Total Usable Type of
Capacity Capacity Reservoir Construction
OOO's OOO's (Elevated, Pres-(Wood, Steel
Storai:e Desii:nation or Location GaL.GaL.urized, Boosted)Concrete)
(Duplicate form and attach if necessary. Asterisk facilties added this year.)
Rev 3/02 Page 10
Name:Island Park Water Company
SYSTEM ENGINEERING DATA
(continued)
For Year Ended 12/31/2007
4 Pump information for ALL system pumps, including wells and boosters.
Designation or Location Horse
Rated
Capacity
Discharge
Pressure
Energy
Used
& Tvpe of Pump**Power (opm)(psi)This Year
.. .** 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?
6 If customers are metered, what was the total amount sold in peak month?
7 Was your system designed to supply fire flows?
If Yes: What is current system rating?
8 How many times were meters read this year?
During which months?
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?
10 Are backbone plant additions anticipated during the coming year?
If Yes, attach an explanation of projects and anticipated costsl
11 In what year do you anticipate that the system capacity (supply, storage or distribution)
will have to be expanded?
Rev 3/02 Page 11
Name:Island Park Water Company
SYSTEM ENGINEERING DATA
(continued)
For Year Ended 12/31/2007
FEET OF MAINS
1 Pipe
Size
In Use
Beginning
Of Year
Installed
During
Year
Abandoned
During
Year
In Use
End of
Year
CUSTOMER STATISTICS
Number of Customers Thousands of Gallons Sold
TOTALS (Add lines 2 through 8)
This Last This Last
Year Year Year Year
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 Idaho )
) ss
County of Bonnevile
WE, the undersigned_David Benton
and_David Benton
of the_Island Park Water Company
utilty, 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 utilty; that we have carefully examined same, and
declare the same to be a correct statement of the business and affairs of said utilty 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.fj~£,~
(Chief Officer)f)~t~
(Officer in Charge of Accounts)
this 14 day of tv ø.y
~¿ß thcl
NOTARY PUBLIC
, tDot
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Subscribed and Sworn to Before Me
My Commission Expires 4uJ":i l ~ t. :!tJrlL.
gdklexcelljnelSOnlanulrptsannualrpt
Rev 3/02 Page 13