2022Annual Report.pdf

ANNUAL REPORT
OF
lŠLAND PARK WATER COMPANY
NAME
455 Constitution Way
IDAHO FALLS, IDAHO 83404
ADDRESS
TO THE
IDAHO PUBLIC
UTILITIES COMMISSION
FOR THE
YEAR ENDED,-ß0 2
ISL-W
ANNUAL REPORT FOR WATER UTILITIESTO
THE IDAHO PUBLIC UTILITIESCOMMISSION
FOR THE YEAR ENDING 2022
COMPANY INFORMATION
1 Give full name of utility Island Paark Water Company,Inc.
2 Date of Organization May 5,1975
3 Organized under the laws of the state of Idaho
4 Address of Principal Office (number &street)455 Constitution Way
5 P.O.Box (if applicable)
6 City Idaho Falls,
7 State Idaho
6 Zip Code 83402
9 Organization (proprietor,partnership,corp.)Corp.
10 Towns,Counties served Fremont
11 Are there any affiliated NO
12 Contact Information Name Phone No.
.Dorothy McCarty 208-521-2369President(Owner)
Vice President 208-521-2369
Secretary Dorothy McCarty 208-521-2369
General Manager Dorothy McCarty 208-521-2369
Complaints or Billing Dorothy McCarty 208-521-2369
Engineering
Emergency Service Dorothy McCarty 208-521-2369
Accounting Dorothy McCarty 208-521-2369
13 Were any water systems acquired during the year or any additions/deletions made
to the service area during the year?NO
14 Where are the Company's books and records kept?
Street AddreSS 455 Constitution Way
City Idaho Falls
State Idaho
Zip 83402
Rev 3/02 Page 1
NAME:Island Park Water Company,INC
COMPANY INFORMATION(Cont.)
For the Year Ended 2022
15 Is the system operated or maintained under a
service contract?YES
16 If yes:With whom is the contract?McCarty Management Services LLC
When does the contract expire?Nonexpiring-perpetualrenewal
What services and rates are included?All Inclusive oversight of IPWC operations,management/billing/accounting/system
Operational outsourcing/water testing/consulting/engineering/contracts,etc.
17 Is water purchased for resale through the 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 Environmental Quality?NO -not in 2022
20 Has the Idaho Division of Environmental Quality
recommended any improvements?
No improvements,repairs only
21 Number of Complaints receivedduring year concerning:
Quality of Service
High BillS 5 /Valley View
Disconnection NONE
22 Number of Customers involuntarily disconnected None by IPWC
23 Date customers last received a copy of the Summary
of Rules required by IDAPA 31.21.01.701?
24 Did significant additions or retirements from the Feb 2020
Plant Accounts occur during the year?
NO
Rev 3/02 Page 2
NAME:Island Park Water Company,INC
REVENUE &EXPENSE DETAIL
For the Year Ended 2022
ACCT #DESCRIPTION
400 REVENUES
1 460 Unmetered Water Revenue-121,062.79
2 461.1 MMS Loan to IPWC 2022
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)121,062.79
(also enter result on Page 4,line 1)
9 *DEQ Fees Billed separately to customers Booked to Acct #
10 **Hookup or Connection Fees Collected Booked to Acct #
11 ***Commission Approved Surcharges Collected 98,530.69 Booked to Acct #
401 OPERATINGEXPENSES
12 601.1-6 Labor -Operation &Maintenance 22,737.19 incl/#12
13 601.7 Labor -Customer Accounts 6,547.17 inc/#l2
14 601.8 Labor -Administrative &General 19,039.02 incl./#12
15 603 Salaries,Officers &Directors
16 604 Employee Pensions &Benefits
17 610 Purchased Water
18 615-16 Purchased Power &Fuel for Power 14,354.12
19 618 Chemicals
20 620.1-6 Materials &Supplies -Operation &Maint.22,984.08
21 620.7-8 Materials &Supplies -Administrative &General 13,028.06
22 631-34 Contract Services -Professional See line 12,13,14
23 635 Contract Services -Water Testing 8,076.00
24 636 Contract Services -Other 17,719.81
25 641-42 Rentals -Property &Equipment 10,430.00
26 650 TransportationExpense 6,799.32
27 656-59 Insurance 5,834.00
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 (6.08)
33 Total Operating Expenses (Add lines 12 -32,also enter on Pg 4,line 2)129,852.69
Rev 3/02 Page 3
Name:Island Park Water Company,INC
INCOME STATEMENT
For Year Ended 2022
ACCT #DESCR\PTION
1 Revenue(From Page 3,line 8)121,062.79
2 Operating Expenses (From Page 3,line 33)129,852.69
3 403 Depreciation Expense
4 406 Amortization,Utility Plant Aquisition Adj.
5 407 Amortization Exp.-Other
6 408.10 Regulatory Fees (PUC)327.34
7 408.11 Property Taxes 3,877.86
8 408.12 Payroll Taxes
9A 408.13 Other Taxes (list)DEQ Fees
9B
9C
9D
10 409.10 Federal Income Taxes
11 409.11 State income Taxes
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 E×penses from operations before interest (add lines 2-15)134,057.89
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)121,062.79
20 415 Revenues,Merchandizing Jobbing and Contract Work
21 416 Expenses,Merchandizing,Jobbing &Contracts 134,057.89
22 419 Interest &Dividend income
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,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)
29 Gross Income (add lines 19 &28)(12,995.51)
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)(12,995.51)
Rev 3/02 Page 4
Name:Island Park Water Company,INC
ACCOUNT101 PLANT IN SERVICE DETAIL
For Year Ended 2022
Balance Added Removed BalanceSUBBeginningDuringDuringEndofACCT#DESCRIPTION of Year Year Year Year
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 56,740.49 56,740.40
8 308 Infiltration Galleries &Tunnels
9 309 Supply Mains
10 310 Power Generation Equipment
.47,943.24 47,943.2411311PowerPumpingEquipment
12 320 Purification Systems
13 330 Distribution Reservoirs &Standpipes
14 331 Trans.&Distrib.Mains &Accessories 9,733.75 9,733.75
15 333 Services
16 334 Meters and Meter installations 6,288.36 6,288.36
17 335 Hydrants
18 336 Backflow Prevention Devices
19 339 Other Plant &Misc.Equipment 16,525.59 16,525.59
20 340 Office Furniture and Equipment
21 341 TransportationEquipment
22 342 Stores Equipment
23 343 Tools,Shop and Garage Equipment
24 344 Laboratory Equipment
25 345 Power Operated Equipment
26 346 Communications Equipment
27 347 Miscellaneous Equipment
28 348 Other Tangible Property
29 TOTAL PLANT IN SERVICE 137,231.43 137,231.43
(Add lines 1 -28)Enter beginning &end of year totals on Pg 7,Line 1
Rev 3/02 Page 5
Name Island Park Water,INC
ACCUMULATEDDEPRECIATION ACCOUNT108.1 DETAIL
For Year Ended 2022
Depreciation Balance Balance increaseSUBRateBeginningEndoforACCT#DESCRIPTION %of Year Year (Decrease)
1 304 Structures and Improvements
2 305 Collecting &Impounding Reservoirs
3 306 Lake,River&Other Intakes
4 307 Wells 30,658.99 33,109.39 2,450.40
5 308 Infiltration Galleries &Tunnels
6 309 Supply Mains
7 310 Power Generation Equipment
8 311 Power Pumping Equipment 25,407.15 27,648.75 2,241.50
9 320 Purification Systems
10 330 Distribution Reservoirs &Standpipes
11 331 Trans.&Distrib.Mains &Accessories 9,733.75 9,733.75
12 333 Services
13 334 Meters and Meter Installations
14 335 Hydrants
15 336 Backflow Prevention Devices
16 339 Other Plant &Misc.Equipment 6,665.03 7,432.74 767.71
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)72,464.93 72,924.63 5,459.61
Enter beginning &end of year totals on Pg 7,Line 7
Rev 3/02 Page 6
Name:Island Park Water,INC.
BALANCE SHEET
For Year Ended 2022
ASSETS Balance Balance Increase
Beginning End of orACCT#DESCRIPTION of Year Year (Decrease)
1
442.20 Utility Plant in Service (From Pg 5,Line 29)137,231.42 137,231.45
2 102 Utility Plant Leased to Others
3 103 Plant Held for Future Use
4 105 Construction Work in Progress
5 114 Utility Plant Aquisition Adjustment
6 Subtotal (Add Lines 1 -5)137,231/42 137,231.42
7 108.1 Accumulated Depreciation (From Pg 6,Line 26)(72,464.93)(77,924.63)(5,459.70)
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 Accumulated Amortization -Aquisition Adj.
13 Net Utility Plant (Line 6 less lines 7 -12)54,766.50 49,306.80 (5,459.70)
14 123 Investmentin Subsidiaries
15 125 Other Investments 10,000 10,000
16 Total Investments (Add lines 14 &15)44,907.89 35,180.78 (9.727.11)
17 131 Cash
18 135 Short Term Investments
19 141 Accts/Notes Receivable -Customers
20 142 Other Receivables
21 145 Receivablesfrom Associated Companies
22 151 Materials &Supplies Inventory
.8,462.00 540.00 (7,922.20)23 162 Prepaid Expenses
24 173 Unbilled (Accrued)Utility Revenue
25 143 Provision for Uncollectable Accounts
26 Total Current (Add lines 17 -24 less line 25)63,270.09 45,720.78 (17,648.31)
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)163,394.48
Rev 3/02 Page 7
Name:Island Park Water,INC.
BALANCE SHEET
For Year Ended 2022
LIABILITIES&CAPITAL Balance Balance increase
Beginning End of orACCT#DESCRIPTION of Year Year (Decrease)
1 201-3 Common Stock
2 204-6 Preferred Stock
3 207-13 Miscellaneous Capital Accounts
4 214 AppropriatedRetained Earnings (90,763.72)(112,940.36)(22,176.64)
5 215 UnappropriatedRetained Earnings
6 216 Reacquired Capital Stock
7 218 Proprietary Capital
8 Total Equity Capital (Add Lines 1-5+7 less line 6)(90,763.72)(112,940.36)
9 221-2 Bonds
10 223 Advancesfrom Associated Companies
11 224 Other Long -Term Debt 9,240 9,504.00 264.00
12 231 Accounts Payable 385,585.69 433,870.31 48,293.62
13 232 Notes Payable 117,329.57 126,715.94 9,386.37
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 Advancesfor Construction
23 253 Other DeferredLiabilities
24 255.1 Accumulated Investment Tax Credits -Utility
25 255.2 Accum,Investment Tax Credits -Non-Utility
26 261-5 Operating Reserves
27 271 Contributions in Aid of Construction 87,024.02 87,024.02
28 272 Accum.Amort.of Contrib.in Aid of Const.**(5,453.28)(6,385.65)
29 281-3 Accumulated Deferred income Taxes
30 Total Liabilities (Add lines 9 -29 198,900.13
31 TOTAL LIAB &CAPITAL (Add lines 8 &30)198,900.13 198,900.13
**Only if Commission Approved
Rev 3/02 Page 8
Name:Island Park Water,INC.
STATEMENTOF RETAINED EARNINGS
For Year Ended 2022
1 Retained Earnings Balance @ Beginning of Year 23,694.50
2 Amount Added from Current Year Income (From Pg 4,Line 32)(12,995.51)
3 Other Credits to Account Interest income
4 Dividends Paid or Appropriated
5 Other Distributions of Retained Earnings
6 Retained Earnings Balance @ End of Year 10,699.08
CAPITALSTOCK DETAIL
No.Shares No.Shares Dividends
7 Description (Class,Par Value etc.)Authorized Outstandinq Paid
DETAILOF LONG-TERM DEBT
Interest Year-end Interest Interest
8 Description Rate Balance Paid Accrued
Rev 3/02 Page 9
Name:Island Park Water,INC.
SYSTEM ENGINEERING DATA
For Year Ended 2022
1 Provide an updated system map if significant changes have been made to the system during the year.
2 Water Supply:Type of WaterTreatment:SupplyRated(None,Chlorine Annual SourceCapacityFluorideProduction(Well,Spring,Pump Designation or location (gpm)Filter etc.)(000's Gal.)SurfaWellceValleyView#l 18 1,632 Well
Valley View #2 11 37 Well
Shotgun South -Stevens 10 49 Well
Shotgun South -Kickapoo 75 763 Well
Shotgun South -Cherokee 75 935 Well
Shotgun South -Choctaw 75 3,411 Well
Shotgun North -#2 20 289 Well
Shotgun North -#3 50 2,027 Well
Goose Bay 28 2,022 Well
Aspen Ridge 75 4,092 Well
3 System Storage:
Total Usable Type of
Capacity Capacity Reservoir Construction
000's 000's (Elevated,Pres-(Wood,SteelStorageDesignationorLocationGal.Gal.urized,Boosted)Concrete)
(Duplicate form and attach if necessary.Asterisk facilities added this year.)
Rev 3/02 Page 10
Name:Island Park Water Company,INC.
SYSTEM ENGINEERING DATA
(continued)
For Year Ended 2022
4 Pump information for ALL system pumps,including wells and boosters.
Rated Discharge EnergyDesignationorLocationHorseCapacityPressureUsed&Type of Pump**Power (gpm)(psi)Th3405isValleyView#l 3 18 65 NA
Valley View #2 1 11 65 NA
Shotgun South -Stevens 3/4 10 65 NA
Shotgun South -Kickapoo 5 75 65 NA
Shotgun South -Cherokee 5 75 65 NA
Shotgun South -Choctaw 5 76 65 NA
Shotgun North #2 1.5 20 66 NA
Shotgun North #3 5 50 65 NA
Aspen Ridge 2.5 25 65 NA
Goose Bay 3 28 65 NA**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:NO
What was the total amount pumped this year?NA
What was the total amount pumped during peak month?NA
What was the total amount pumped on the peak day?NA
6 ff customers are metered,what was the total amount sold in peak month?
7 Was your system designed to supply fire flows?NO
If Yes:What is current system rating?
8 How many times were meters read this year?Not MeteredDuringwhichmonths?
9 How many additional customers could be served with no system improvementsexceptaservicelineandmeter?NA
How many of those potential additions are vacant lots?NA
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 haveto be expanded?2024
Rev 3/02 Page 11
Name:Island Park Water Company,INC
SYSTEM ENGINEERING DATA
(continued)For Year Ended 2022
FEET OF MAINS
In Use Installed Abandoned In Use1PipeBeginningDuringDuringEndofSizeOfYearYearYearYear1"1240'NONE NONE 1240'I ¼"2480'2480'
I 1/2 "4,100'4,100'2"9,690'9,690'2 ¼"2,640'3,640'3"6,020'5,020'4 -6"7,750'7,750'
CUSTOMER STATISTICS
Number of Custoners Thousands of Gallons SoldThisLastThis LastYearYearYearYear2Metered:NONE No metered No Metered Cust.NA NA2AResidentialcustomers
28 Commercial
2C Industrial
3 Flat Rate:
3A Residential 425 4163BCommercialNotPermitted
3C Industrial
NOT Permitted
4 Private Fire Protection
Not available and not
5 Public Fire Protection permitted
Island Park Water
Does not own the6StreetSprinklingstreetscustomers de
7 Municipal,Other
8 Other Water Utilities
TOTALS (Add lines 2 through 8)
Rev 3/02 Page 12
CERTIFICATE
State of Idaho )
)ssCountyofB°u eville )
i ,the undersigned Dorothy McCarty,President (*owner)President and Secretary
of the Island Park Water Company,INC>
utility,on our oath do severally say that the foregoing report has been prepared under our direction,from the origina\books,papers and records of said utility,that we have carefully examined same,anddeclarethesametobeacorrectstatementofthebusinessandaffairsofsaidutilityfortheperiodcoveredbythereportinrespecttoeachandeverymatterandthingtherinsetfodhtothebestofourknowledge,information and belief,
fficer n Charge of unts)
Subscribed and Sworn to Before Me
this day of 2
NOTA PUBLIC
o AUBL jMyCommissionExpireseÁ-r ff Jú?,J :,,L,
OF
gdk/excelljnelson/anulrpts/wtrannualrpt
Rev 3/02 Page 13