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Total Expenses
<br />In reviewing total expenses in Table A-2 you will notice that there was an increase of 7.6 percent overall. Expenses are increased
<br />most notably for Purchased Power, representing a $2,200,000 increase over the prior year. Other expense categories are pretty
<br />consistent with the prior year in total, although there is fluctuation within the categories, some being up and some being down.
<br />Expense categories that had increased are landfill project, insurances, compliance and conservation programs, and salaries
<br />fallowing a I.5 percent increase awarded in 2010 after a 0 percent increase in 2009. Expense categories that had decreased are
<br />meter reading, maintenance expenses, uncollectible aceounts, dues and subscriptions, consulting, and supplies and expense.
<br />CAPITAL ASSETS
<br />The Utilities' investment in capital assets for its business-type activities as of December 31, 2010, amounts to $50,095,964 (net of
<br />accumulated depreciation). This investment in capital assets includes land, buildings and improvements and equipment. A table
<br />summarizing the balances by fund follows:
<br /> Increase
<br />2010 2009 (Decrease)
<br />Land $ 281,775 $ 287,775 $ -
<br />Candimprovements 21,424 23,949 (2,525)
<br />Buildings 2,289,154 2,401,664 (112,510)
<br />Equipment and machinery 1,027,943 1,159,559 (131,616)
<br />Infrastructure 46,056,683 47,675,328 Q,6L8,645)
<br />Construction in progress 418,985 84,648 334,337
<br />Total $ 50,095.964 $ 51,626.923 $ (1,530,959)
<br />The total decrease in the Utilities' investment in capital assets for the current fiscal year was 3.0 percent.
<br />Major capital asset events during the current fiscal year included the following:
<br />Again this year, the depreciation increase for this year offset the smaller increase in assets, resulting in an actual decrease
<br />in capital assets.
<br />The decrease in construction resulted in fewer assets being added, only $1.3 million.
<br />Accumulated depreciation for the year, however, increased $3 million.
<br />Additional information on the Utilities' capital assets can be found in Note 2B start on page 39 of this report.
<br />LONGTERM DEBT
<br />At year end, the Utilities had $13,895,894 in long-term debt down from $17,485,814 in fiscal 2009. More detailed information
<br />about the Utilities' long-term liabilities is presented in the Notes to the Financial Statements on pages 41 - 44 and below:
<br /> Increase
<br /> 2010 2009 (Decrease)
<br />G.O. revenue bonds $ 5,115,000 $ 8,185,000 $ (3,070,000)
<br />Revenue bonds 6,060,000 6,520,000 (460,000)
<br />Unamortized premium on bonds 49,750 - 49,750
<br />Promissory note 2,345,318 2,524,646 (179,328)
<br />Compensated absences payable 295,730 235,925 59,805
<br />OPEB liability 30,096 20,243 9,853
<br />Total $ L3,895.894 $ 17,485,874 $ (3,589,9201
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