2010Annual Report.pdf

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ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING 12/31/10
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 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
11 Are there any affilated companies? (yes or no)
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Island Park Water Company, Inc.
5/1/1976
Idaho
550 Linden Drive
PO Box 2521
Idaho Falls
Idaho
83403
Corporation
Fremont County
No
If yes, attach a list with names, addresses 8i descriptions. Explain any services provided to the utilty.
Phone No12 Contact Information
President (Owner)
Vice President
Secretary
General Manager
Complaints or Biling
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? No
Name
David E Benton 208-524-7426
Dorothy McCarty 208-524-7426
Dorothy McCarty 208-524-7426
Benton Engineering 208-522-8033
Dorothy McCarty 208-524-7426
Dorothy McCarty 208-524-7426
If yes, attach a list with names, addresses 8i descriptions. Explain any services provided to the utilty.
14 Where are the Company's books and records kept?
Street Address
City
State
Zip
IPWC Annual Report form (Autosaved).xls
550 Linden Drive
Idaho Falls
Idaho
83401
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ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
COMPANY INFORMATION (Cont.) For the Year Ended 12/31/2010
15 Is the system operated or maintained under a service contract? No
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
Mailng Address
City
State
Zip
Water Purchased
19 Has any system(s) been disapproved by the
Idaho Department of Environmental Quality?
If yes, attach full explanation
20 Has the Idaho Department of Environmental Quality
recommended any improvements? Yes
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? No
If yes, attach full explanation and an updated system map
IPWC Annual Report form (Autosaved).xls
Gallons/CCF $Amount
I
No
Recommended that water flow meters be
added to all wells and flush lines added to
ends of lines (currently in process).
o
o
o
o
Nov-10
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ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
REVENUE 8t EXPENSE DETAIL For the Year Ended 12/31/2010
SUB ACCT DESCRIPTION
400 REVENUES
1 460 Unmetered Water Revenue
2 461.Metered Sales - Residential
3 461.2 Metered Sales - Commercial, Industrial
4 462 Fire Protection Revenue
5 464 Other Water Sales Revenue
6 465 Irrigation Sales Revenue
7 466 Sales for Resale
8 400 Total Revenue (Add Lines 1 - 7)
$ 96,525.44
$ 96,525.44
Booked to Acct #
Booked to Acct #
Booked to Acct #
(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
401 OPERATING EXPENSES
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
601.1-6 Labor - Operation & Maintenance
601. 7 Labor - Customer Accounts
601.8 Labor - Administrative & General
603 Salaries, Officers & Directors
604 Employee Pensions & Benefits
610 Purchased Water
615-16 Purchased Power & Fuel for Power
618 Chemicals
620.1-6 Materials & Supplies - Operation & Maint.
620.7-8 Materials & Supplies - Administrative & General
631-34 Contract Services - Professional
635 Contract Services - Water Testing
636 Contract Services - Other
641-42 Rentals - Property & Equipment
650 Transportation Expense
656-59 Insurance 2,167.50
13,884.60
13,463.73
600.00
14,128.32
69,125.49
3,286.04
2,785.75
1,915.00
4,950.00
Advertising
Rate Case Expense (Amortization)
Regulatory Comm. Exp. (Other except taxes)
Bad Debt Expense
Miscellaneous
660
666
667
670
675 3,118.11
Total Operating Expenses (Add lines 12 - 32, also enter on Pg 4, line 2)$ 129,424.54
IPWC Annual Report form (Autosaved).xls 3 of 13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
INCOME STATEMENT For the Year Ended 12/31/2010
SUBACCT DESCRIPTION
1 Revenue (From Page 3, line 8)$96,525.44
2 Operating Expenses (From Page 3, line 33)$129,424.54
3 403 Depreciation Expense $5,745.51
4 406 Amortization, Utilty Plant Aquisition Adj.$(791.43)
5 407 Amortization Exp. - Other
6 408.10 Regulatory Fees (PUC)
7 408.11 Property Taxes $2,214.62
8 408.12 Payroll Taxes
9A 408.13 Other Taxes (list)DEQ Fees $150.00
9B CIAC $191.18
9C
9D
10 409.10 Federal Income Taxes $1,407.00
11 409.11 State Income Taxes $387.00
12 410.10 Provision for Deferred Income Tax - Federal
13 410.11 Provision for Deferred Income Tax - State
14 411 Provision for Deferred Utilty Income Tax Credits
15 412 Investment Tax Credits - Utilty
16 Total Expenses from operations before interest (add lines 2-15)$138,728.42
17 413 Income From Utilty Plant Leased to Others
18 414 Gains (Losses) From Disposition of Utility Plant
19 Net Operating Income (Add lines 1, 17 &18 less line 16)
20 415 Revenues, Merchandizing Jobbing and Contract Work
21 416 Expenses, Merchandizing, Jobbing & Contracts
22 419 Interest & Dividend Income
23 420 Allowance for Funds used During Construction
24 421 Miscellaneous Non-Utilty Income
25 426 Miscellaneous Non-Utilty Expense
26 408.20 Other Taxes, Non-Utility Operations
27 409-20 Income Taxes, Non-Utility Operations
28 Net Non-Utiity Income (Add lines 20,22,23 & 24 less lines 21,25,26, & 27)
29 Gross Income (add lines 19 & 28)
30 427.3 Interest Exp. on Long-Term Debt
31 427.5 Other Interest Charges
32 NET INCOME (Line 29 less lines 30 & 31), (Also Enter on Pg 9, Line 2)
IPWC Annual Report form (Autosaved).xls
$ (42,202.98)
$
$ (42,202.98)
$ (42,202.98)
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ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
ACCOUNT 101 PLANT IN SERVICE DETAIL For the Year Ended 12/31/2010
Balance Added BalanceRemoved
Beginning End ofDuringDuring
Year YearSUBACCTDESCRIPTIONof Year Year
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 $47,440.49 $9,300.00 $56,740.49
308 Infiltration Galleries & Tunnels $-
309 Supply Mains $-
310 Power Generation Equipment $-
311 Power Pumping Equipment $47,943.24 $47,943.24
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 $6,288.36 $6,288.36
335 Hydrants $-
336 Backflow Prevention Devices $-
339 Other Plant & Misc. Equipment $4,588.51 $4,588.51
340 Office Furniture and Equipment $562.45 $1,374.63 $1,937.08
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 $-
348 Other Tangible Property $-
$-
TOTAL PLANT IN SERVICE $116,556.80 $10,674.63 $-$127,231.4329
(Add lines 1 - 28) Enter beginning & end of year totals on Pg 7, Line 1
IPWC Annual Report form (Autosaved).xls 50f13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
ACCUMULATED DEPRECIATION ACCOUNT 108.1 DETAIL For the Year Ended 12/31/2010
Depreciation Balance IncreaseBalance
Rate End of orBeginning
SUBACCT DESCRIPTION Year (Decrease)%of Year
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
304 Structures and Improvements $-
305 Collecting & Impounding Reservoirs $-
306 Lake, River & Other Intakes $-
307 Wells $18,406.99 $20,857.39 $2,450.40
308 Infiltration Galleries & Tunnels $-
309 Supply Mains $-
310 Power Generation Equipment $-
311 Power Pumping Equipment $14,199.21 $16,440.80 $2,241.59
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 $220.09 $471.62 $251.53
335 Hydrants $-
336 Backflow Prevention Devices $-
339 Other Plant & Misc. Equipment $1,013.29 $1,472.14 $458.85
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 $482.77 $825.91 $343.14
348 Other Tangible Property $-
TOTALS (Add Lines 1 - 25)$44,056.10 $49,801.61 $5,745.51
Enter beginning & end of year totals on Pg 7, Line 7
IPWC Annual Report form (Autosaved).xls Gof13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.BALANCE SHEET For the Year Ended 12/31/2010
ASSETS Balance Balance Increase
Beginning End of or
SUBACCT DESCRIPTION Year (Decrease)of Year
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
101 Utilty Plant in Service (From Pg 5, Line 29)$116,556.80 $127,231.43 $10,674.63
102 Utility Plant Leased to Others $-
103 Plant Held for Future Use $-
ios Construction Work in Progress $-
114 Utilty Plant Aquisition Adjustment $-
Subtotal (Add Lines 1 - 5)$116,556.80 $127,231.43 $10,674.63
108.1 Accumulated Depreciation (From Pg 6, Line 26)$44,056.10 $49,801.61 $5,745.51
108.2 Accum. Depr. - Utility Plant Lease to Others $-
108.3 Accum. Depr. - Propert Held for Future Use $-
110.1 Accum. Amort. - Utilty Plant in Service $-
110.2 Accum. Amort. - Utilty Plant Lease to Others $-
115 Accumulated Amortization - Aquisition Adj.$-
Net Utilty Plant (Line 6 less lines 7 - 12)$72,500.70 $77,429.82 $4,929.12
123 Investment in Subsidiaries $-
125 Other Investments $-
Total Investments (Add lines 14 & 15)$-$-$-
131 Cash $86,392.73 $37,669.21 $(48,723.52)
135 Short Term Investments $-
141 Accts/Notes Receivable - Customers $-
142 Other Receivables $-
145 Receivables from Associated Companies $-
151 Materials & Supplies Inventory $-
162 Prepaid Expenses $-
173 Unbiled (Accrued) Utility Revenue $-
143 Provision for Uncollectable Accounts $-
Total Current (Add lines 17 - 24, less line 25)$86,392.73 $37,669.21 $(48,723.52)
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)$158,893.43 $115,099.03 $(43,794.40)
IPWC Annual Report form (Autosaved).xls 7of13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.BALANCE SHEET For the Year Ended 12/31/2010
LIABILITIES 8t CAPITAL Balance
Beginning
of Year
Balance Increase
End of or
SUBACCT DESCRIPTION Year (Decrease)
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
201-3 Common Stock $-
204-6 Preferred Stock $-
207-13 Miscellaneous Capital Accounts $-
214 Appropriated Retained Earnings $(40,468.73)$(82,671.0)$(42,202.97)
215 Unappropriated Retained Earnings $-
216 Reacquired Capital Stock $-
218 Proprietary Capital $-
Total Equity Capital (Add Lines 1-5+7 less line 6)$(40,468.73)$(82,671.70)$(42,202.97)
221-2 Bonds $-
223 Advances from Associated Companies $-
224 Other Long - Term Debt $-
231 Accounts Payable $800.00 $(800.0)
232 Notes Payable $112,329.57 $112,329.57 $-
233 Accounts Payable - Associated Companies $-
235 Customer Deposits (Refundable)$-
236.11 Accrued Other Taxes Payable $-
236.12 Accrued Income Taxes Payable $-
236.2 Accrued Taxes - Non-Utility $-
237-40 Accrued Debt, Interest & Dividends Payable $-
241 Misc. Current & Accrued Liabilities $-
251 Unamortized Debt Premium $-
252 Advances for Construction $-
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 $87,024.02 $87,024.02 $-
272 Accum. Amort. of Contrib. in Aid of Const. **$(791.43)$(1,582.86)$(791.43)
281-3 Accumulated Deferred Income Taxes $-
Total Liabilties (Add lines 9 - 29)$199,362.16 $197,770.73 $(1,591.43)
TOTAL LIABILITIES 8t CAPITAL (Add lines 8 & 30)$158,893.43 $115,099.03 $(43,794.40)
** Only if Commission Approved
IPWC Annual Report form (Autosaved).xls 8of13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
STATEMENT OF RETAINED EARNINGS For the Year Ended 12/31/2010
1 Retained Earnings Balance (§ Beginning of Year $ (40,468.73)
2 Amount Added from Current Year Income (From Pg 4, Line 32) $ (42,202.98)
3 Other Credits to Account
4 Dividends Paid or Appropriated
5 Other Distributions of Retained Earnings
6 Retained Earnings Balance (§ End of Year $ (82,671.71)
CAPITAL STOCK DETAIL
7 Description (Class, Par Value etc.)
No. Shares
Authorized
No. Shares Dividends
$-
Outstanding Paid
DETAIL OF LONG-TERM DEBT
Totals $-$-$-
Interest
Rate
Year-end
Balance
Interest Interest
8 Description Paid Accrued
IPWC Annual Report form (Autosaved).xls 9 of 13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
SYSTEM ENGINEERING DATA For the Year Ended 12/31/2010
1 Provide an updated system 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 Designation or location (gpm)Filter etc)(OOO's Gal)Surface Wtr)
ALS 0TOT
3 System Storage:
Type of
Total Usable Reservoir Construction
Capacity Capacity (Elevated (Wood,
OOO's OOO's Pressu rized Steel
Storage Designation or Location Gal Gal Boosted)Concrete)
(Duplicate form and attach if necessary. Asterisk facilties added this year.)
IPWC Annual Report form (Autosaved).xls 10 of 13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
SYSTEM ENGINEERING DATA Continued For the Year Ended 12/31/2010
4 Pump information for ALL system pumps, including wells and boosters.
Rated Rated
Capacity
(gpm)
Pressure
Discharge
Horse power
Designation or Location & Type of Pump**(hp)
Energy used
this Year
(psi)(Kwh)
** Submit pump curves unless previously provided or unavailable. Asterisk facilties 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? OOO's gal.
What was the total amount pumped during peak month? OOO's gal.
What was the total amount pumped on the peak day? gal.
6 If customers are metered, what was the total amount sold in peak month? OOO's gal.
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 costs!
11 In what year do you anticipate that the system capacity (supply, storage or distribution)
wil have to be expanded?
IPWC Annual Report form (Autosaved).xls 11 of 13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
SYSTEM ENGINEERING DATA Continued For the Year Ended 12/31/2010
FEET OF MAINS
Pipe
Size
In Use
Beginning
Of Year
Installed
During
Year
Abandoned In Use
1 During End of
Year Year
CUSTOMER STATISTICS
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 Utilties
TOTALS (Add lines 2 through 8)
Number of Customers Thousands of Gallons Sold
This Last This Last
Year Year Year Year
0 0 0 0
IPWC Annual Report form (Autosaved).xls 12of13
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
CERTIFICATE
State of Idaho )
) ss
)County of
WE, the undersigned Dorothy McCarty
and
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 utility; that we have carefully examined same, and
declare the same to be a correct statement of the business and affairs of said utiity 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.
(~$Jhlbd=
Subscribed and Sworn to Before Me, ~ j
thisBday of ~LlN e., iÒ\ J
fYa~~
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NOTARY PUBLIC
My Commission Expires Co ~ \ 3 - 2 Ô\lr
IPWC Annual Report form (Autosaved).xls 13 of 13