2011Annual Report.pdf

1-5 L, - W
U12 JUL 17 PM 3: 49 ANNUAL REPOk,1ili"i
OF
Js)cr7d PQk
NAME
eomlpow
ADDRESS
TO THE
IiyAI! :[.jJ]ur.
UTILITIES COMMISSION
FOR THE
YEAR ENDED
PAGE 01
07/16/ 20:15 12085228039
100
-'41-1
482 Constitution Way 2" Floor
P.O. Box 1664
Idaho Falls, ID 83403
[phone]
[phone]
wellaandbenaon.com
Fax
To: Tern Carlock '" Carla D. Benson, CPA, MBA
Fair. [phone] Psgss
Phone: Data June 7, 2012
Re: Island Park Water Company Co.,
Urgent 0 For Review 0 PIs.s. Comment 0 Pleas. Reply 0 Pleas. Recycle
11 Are there any affiliated companies? (yes or no) 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) David E Benton 208-524-7426
Vice President
-
Secretary
General Manager
Complaints or Billing..
Engineering
Emergency Service
Accounting
Dorothy McCarty 208.524-7416
Dorothy McCarty 208-524-7426
Benton Engineering 208-522-8033
Dorothy .McCarty 208-524-7426
Dorothy McCarty 208-524-7426
PAGE @2
07/16/+44 20:15 12085228039 - ....................................- ..................-
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING12/31/11
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
Island Park Water Company, Inc.
5/1/1976
Idaho
550 Linden Drive
i'.O Box 2521
Idaho rails
Idaho
83403
Corporation
Fremont County
13 Were any water systems acquired during the year or any additions/deletions made
to the service area during the year? No
U yes, attach a list with names, addresses & description.. Explain any saMe., provided to the utlIity.
14 Where are the Company's books and records kept?
Street Address 550 Linden Drive
City Idaho Fails
State Idaho
Zip 83401
2011 IPWC Annual Report form.xls I of 13
07/16/t.. 20:15 12085228039 PAGE 03
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)31/2011 -
15 Is the system operated or maintained under a service contract? No
16 II 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 yei Name of Organization
Name of owner or operator
Mailing Address
City
State
Zip
Gaiions/CCF $Amount
Water Purchased
19 Has any system(s) been disapproved by the
Idaho Department of Environmental Quality?
If yea, attach full explanation
20 Has the Idaho Department of Environmental Quality
recommended any improvements?
No
Recommended that water flow meters be
Yes added to all wells and flush lines added to
If yes, attach full explanation ends of lines (currently In process).
21 Number of Complaints received during year concerning:
Quality of Service o
High Bills
Disconnection 0
22 Number of Customers Involuntarily disconnected 0
23 Date customers last received a copy of the Summary
of Rules required by IDAPA 31.21.01.701? Nov-11
Attad a copy of the Summary
24 Did significant additions or retirements from the
Plant Accounts occur during the year? No
If ye., attach full explanation and an updated system map
2011 IPWC Annual Report form.xls . 2 of 13
07/16/+3 20:15 12085228039
PAGE @4
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
REVENUE & EXPENSE DETAIL For the Year Ended 12/31/2011
- SUB ACCT DESCRIPTION
400 REVENUES
1 460 Unmetered Water Revenue $ 78,655.84
2 46i.x 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) C 78,658.84
(also enter result on Page 4, line 1) Booked to Acct #
9 'DEQ Fees Billed separately to customers Booked to Acct #
10 Hookup or Connection Fees Collected Booked to Acct #
11 ***Commission Approved Surcharges Collected
401 OPERATING EXPENSES
12 601.1-6 Labor - Operation & Maintenance 3,364.58
13 601.7 Labor - Customer Accounts
14 601.8 Labor - Administrative & General 6,982.44
15 603 Salaries, Officers & Directors 1,200.00
16 604 Employee Pensions & Benefits
17 610 Purchased Water
18 615-16 Purchased Power & Fuel for Power 15,948.49
19 618 Chemicals
20 620.1-6 Materials & Supplies - Operation & Maint. 14,578.28
21 620.7-8 Materials & Supplies - Administrative & General 7,265.50
22 631-34 Contract Services - Professional 13,985.02
23 635 Contract Services - Water Testing 1,760.00
24 636 Contract Services - Other
25 641-42 Rentals - Property & Equipment 2,200.00
26 650 Transportation Expense
27 6S6-59 Insurance 2,013.88
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 2.g30.63
33 Total Operating Expenses (Add lines 12 - 32, also enter on Pg 4, line 2) _ 71,731.82
2011 IPWC Annual Report form .xis 3 of 13
07/16/4- 20:15 12085228039
PAGE 05
ANNUAL REPORT FOR WATER UTILITIES To THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
INCOME STATEMENT For the Year Ended u/3112011
SUB ACCT DESCRIPTION
1 Revenue (From Page 3, line 8) - $ 76,666.54
2 Operating Expenses (From Page 3, line 33) $
3 4o3 Depreciation Expense 5,665.83
4 406 Amortization, Utility Plant Aquisition Adj. (791.
5 407 Amortization Exp. - Other
6 408.10 Regulatory Fees (PUC)
7 408.11 Property Taxes 2,857.42
8 408.12 Payroll Taxes
9A 408.13 Other Taxes (lJ5t) DEQ Fees oo.00
98 PUC $ 22172
9C
9D
10 409.10 Federal Income Taxes 26300
11 409.11 State Income Taxes $ 424.17
12 410.10 Provision for Deferred Income Tax - Federal
13 410.11 Provision for Deferred Income Tax - State
14 411 Provision for Deferred Utility Income Tax Credits
15 412 Investment Tax Credits - Utility
16 Total Expenses from operations before Interest (add lines 245) •
17 413 Income From Utility 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) 6 (2,021.69)
20 415 Revenues, Merchandizlng Jobbing and Contract Work
21 416 Expenses, Merchandizing, jobbing & Contracts
22 419 Interest & Dividend Income $ 64.22
23 420 Allowance for Funds used During Construction
24 421 Miscellaneous Non-Utility Income
25 426 Miscellaneous Non-Utility Expense
26 408.20 Other Taxes, Nan-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) $ 64.22
Gross Income (add lines 19 & 28) $ (1,957.47)
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 Po 9, Line 2) • (t,ssl.47)
2011 1PWC Annual Report form-xis 4 of 13
07/16/9. 20:15 1208522803 PAGE @6
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 1213112011
Balance Added Removed Balance
Beginning During During End of
Yr Yøur Yr SUB ACCT DESCRIPTION
1 301 Organization
2 302 Franchises and Consents
3 303 Land & Land Rights
4 304 Structures and Improvements
5 305 Collecting & Impounding Reservoirs
6 306 Lake, River & Other Intakes
7 307 Wells
8 308 Infiltration Galleries & Tunnels
9 309 Supply Mains
10 310 Power Generation Equipment
11 311 Power Pumping Equipment
12 320 Purification Systems
13 330 Distribution Reservoirs & Standpipes
14 331 Trans. & Distrib. Mains & Accessories
15 333 ServIces
16 334 Meters and Meter Installations
17 335 Hydrants
18 336 Backfjow Prevention Devices
19 339 Other Plant & Misc. Equipment
20 340 Office Furniture and Equipment
21 341 Transportation Equipment
22 342 Stores Equipment
23 343 Tools, Shop and Garage Equipment
24 344 Laboratory Equipment
25 3s Power Operated Equipment
26 346 Communications Equipment
27 347 Miscellaneous Equipment
28 348 Other Tangible Property
29
$ 56,740.49 $ 56,740.49
$ 47,943.24 $ 47,943.24
$ 9,73175 5 - 9,733,75
$ 6,288.36 $ 6,288.36
$ 4,588.51 $ 4,580.51
$ 1,937.08 $ 1,937.08
TOTAL PLANT IN SERVICE
(Add lines I - 28) Enter beginning & and of year totals on Pg 7, Line 1
$ 127,23143
(Add
5 - 5 127,231.43
2011 IPWC Annual Report form-As 5 of 13
07/16/1999 20:15 1208522803 PAGE 07
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 12/31/2011
SUB ACCT - DESCRIPTION
1 304 Structures and Improvements
2 305 Collecting & Impounding Reservoirs
3 30 Lake, River & Other Intakes
4 307 Wells
5 208 Infiltration Galleries & Tunnels
6 309 Supply Mains
7 310 Power Generation Equipment
8 ui Power Pumping Equipment
9 320 Purification Systems
10 330 Distribution Reservoirs & Standpipes
11 331 Trans. & Distrif,. Mains & Accessories
12 333 Services
13 334 Meters and Meter Installations
14 335 Hydrants
15 336 Backflow Prevention Devices
16 339 Other Plant & Misc. Equipment
17 340 Office Furniture and Equipment
18 341 Transportation Equipment
19 342 Stores Equipment
20 343 Tools, Shop and Garage Equipment
21 344 Laboratory Equipment
22 345 Power Operated Equipment
23 346 Communications Equipment
24 347 Miscellaneous Equipment
25 348 Other Tangible Property
26 TOTALS (Add Lines 1 - 25)
Enter beginning & end of year totals on Pg 7, Line 7
Depredation Balance Balance Increase
Rota Beginning End of or
FYr vamp
$ 20,8579 S 23,307.79 $ 2,450.40
$ 16,440.80 $ 18,58239 $ 2,241.59
- $ 9,733.75 $ 9,733.75 $ -
471.62 $ - 723.15 $ 251.53
$ 1,472.14 $ 1,930,99 $ 0$.85
$ 825.91 5 1,089.37 $ 263.46
$
$
$ 5,653.13
2011 IPWC Annual Report form.xio 6 of 13
07/16/1e9 20:15 12085228039 PAGE 10
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
For the Year Ended 1v31/2011
BALANCE SHEET
ASSETS balance Balance Increase
"ginning End of or
SUB ACCT DESCRIPTION of Year - year - (Decrease)
1 101 Utility Plant In Service (From Pg 5, une 29) $ 127,231.43 $ 121,231.43 $ -
2 102 Utility Plant Leased to Others
3 103 Plant Held for Future Use
4 105 Construction Work in Progress - $
5 114 Utility Plant Aqulsitlon Adjustment - $ -
6 Subtotal (Add Lines 1 - 5) • 121231.43 $ 127,231.43 $
7 iOB.i Accumulated Depreciation (From Pg 6, LIne 26) $ 49,80161 $ 55,467.44 $ 5,665.83
8 108.2 Accum. Depr. - Utility Plant Lease to Others $ - ___________
9 108.3 Accum. DepT. - 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 Accumulated Amortization - Aquisition Adj.
13 Net Utility Plant (lJne S less lines 7 - 12) 5 77,420.02 • 71,763.00 $ (5,565.83)
14 123 Investment In Subsidiaries
15 125 Other Investments ______________ $ - ____________
16 Total lnveitmefltS (Add lines l4 IN. 15) $ - - S -- -
17 131 Cash $ 37,669.21 $ 31,586.14 $ (6,083.07)
18 135 Short Term Investments _________ $ -
19 141 Accts/Notes Receivable - Customers
20 142 Other Receivables
21 145 Receivables from Associated Companies
22 151 Materials & Supplies Inventory
23 162 Prepaid Expenses
24 173 Unbitted (Accrued) Utility Revenue
25 143 Provision for Uncoliectable Accounts $ -
26 Total Current (Add lines 17 - 24, less line 25) $ 37,s9.21 3 31,586.14 $ (6,083.07)
27 181 Unamortized Debt Discount & Expense $ -
28 183 Preliminary Survey & Investigation Charges $ -
29 184 Deferred Rate Case Expenses $ -
30 186 Other Deferred Charges
31 Total Assets (Add lines 13, 16 & 26 - 30) $ 115,090.03 5 1034350.13 $ (11,748.80)
2011 IPWC Annual Report form.X15 7 of 13
- —. . ..
Balance Balance Increase
Beginning Undof Or
of Y.r yr
$ (82,671.70) $ (84,629.17) $ (1,957.47)
$ (52,671.70) 5 (84,629.17) $ 1,957.47)
$ 112,320.57 $ 103,329.57 $ (9,000.00)
$ 87,024.02 $ 87,024.02 $ -
$ (1,582.86) $ (2,374.29) $ (791.43)
$ 197,770.73 $ 1S7,$79.3O $ (9,791.43)
* 115,099.03 5 103,350.13 $ (11,748.90)
PAGE 11 7/16/999- 20:15 12085228039
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
NAME: Island Park Water Company, Inc.
BALANCE SHEET For ffi Yr nd,l ,,,iiina.
LIABILITIES & CAPITAL
SUB ACCT DESCRIPTION
1 201-3 Common Stock
2 204-6 Preferred Stock
3 207-13 Miscellaneous Capital Accounts
4 214 Appropriated Retained Earnings
5 21 Unappropriated Retained Earnings
6 216 Reacquired Capital Stock
7 218 Proprietary Capital
8 Total Equity Capital (Add Unes 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 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-Utility
19 237-40 Accrued Debt, Interest & Dividends Payable
20 241 Misc. Current & Accrued Liabilities
21 251 Unamortized Debt Premium
22 252 Advances for Construction
23 253 Other Deferred Liabilities
24 255.1 Accumulated Investment Tax Credits - Utility
25 255.2 Accum. Investment Tx 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 LIABILITIES & CAPITAL (Add lines B & 30)
** Only If Commission Approved
2011 IPWC Annual Report ferm.xls 8 of 13
07/16/r9 20:15 12085228039 PAGE 12
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC unLrrIEs COMMISSION
NAME Island Park Water Company, Inc.
STATEMENT OF RETAINED EARNINGS For the Year Ended 12/31/2011
1 Retained Earnings Balance © Beginning of Year S. (82471.70)
2 Amount Added from Current Year Income (From Pg 4, Une 32) IF (1,957.47)
3 Other Credits to Account
4 Dividends Paid or Appropriated
5 Other Distributions of Retained Earnings
6 Retained Earnings BalanceEnd of Year $ (84.62917)
CAPITAL STOCK DETAIL
No. Shares No. Shares Dividends
7 Description (Class, Par Value etc.)
DETAIL OF LONG-TERM DEBT
Interest Year-end interest Interest
8
20111 PWC Annual Report form.xls 9 of 1
TOT
3 System Storage:
07/16/9 20:15 12085228039 PAGE 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 12/31/2011
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,
Type of
Total Usable Reservoir Construction
Capacity Capacity (Elevated (Wood,
000s 000s Pressurled Steel
(Duplicate form and attach If necessary. Asterisk facilities added this year.)
2011 IPWCAnnui Report form.xls 10 of 13
07/16/H9- 20:15 1208522803 PAGE 14
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 12/31/20I1
4 Pump information for ALL system pumps, including wells and boosters.
Rated Rated Discharge Energy used
Horse power Capacity Pressure this Year
*W Submit pump curves unless previously provided or wievallibis. 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? 000's gal.
What was the total amount pumped during peak month? 000'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? 000'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?
It Yes, 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?
2011 IPWC Annual Report forrn.xls 11 of 13
07/16/199 20:15 12085228039 PAGE 15
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 12/31/2011
FEET OF MAINS
In Use Installed Abandoned In Use
1 Pipe Beginning During During End of
CUSTOMER STATISTICS
2 Metered:
2A Residential
2B Commercial
2C Industrial
3 Fiat 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
TOTALS (Add lines 2 through 8)
Number of Customers Thousands of Gallons Sold
This Last This Last
Year - Year Year Year
-p-
2011 IPWC Annual Report form.xls 12 of 13
07/16/- 20:15 12085228039 PAGE 16
ANNUAL REPORT FOR WATER UTILITIES TO THE IDAHO PUBLIC UTILITIES COMMISSION
CERTIFICATE
State of Idaho
) $5
County of
WE, the undersigned - Dorothy McCarty
and t\\
of the_____ Island PdI( 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.
1Q(.t 7xLLp
(Chief Officer),y
s4h
(Officer in CPhge of Accounts)
Subscribed and Sworn to before Me
this 7 day of
'
_
JTh
NOTARY PUBLIC
-• ---
My Commislon Expires (j -. la - t2l I '-
gdk/excelfjnelson/anulrpts/wtrannuairpt
2011 IPWC Annul Report formxls 13 of 13