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Total Expenses. In reviewing total expenses in Table A-2 you will notice that there was decrease of 1.2 percent overall,
<br />with the electric department decreasing 1.4 percent, and the water department increasing 1.4 percent. Purchased Power
<br />is the biggest electric department expense and it was down 7.0 percent.
<br />Capital Assets and Debt Administration
<br />Capital Assets. The Utilities’ investment in capital assets for its business-type activities as of December 31, 2019
<br />amounts to $71,997,590(netof accumulated depreciation). This investment in capital assets includes land, buildings,
<br />improvements and equipment. A table summarizing the balances by fund follows:
<br />Increase
<br />20192018(Decrease)
<br />Land$678,921$678,921$-
<br />Intangible23,280,12223,114,072166,050
<br />Land Improvements4,2585,194(936)
<br />Buildings1,791,9051,875,488(83,583)
<br />Machinery and Equipment1,596,8041,573,94122,863
<br />Infrastructure43,633,87244,869,586(1,235,714)
<br />Construction in Progress1,011,708467,470544,238
<br />Total$71,997,590$72,584,672$(587,082)
<br />The total decreasein the Utilities’ investment in capital assets for the current fiscal year was 0.8percent.
<br />Major capital asset events during the current fiscal year included the following:
<br />The Electric Department makes a loss of revenue payment as part of the cost of the territory acquisition
<br />increasing Intangibles.
<br />
<br />The Electric and Water Department purchased new transportation equipment increasing Machinery and
<br />Equipment, with the main increase due to the purchase of a new Bucket Truck for the Electric Department.
<br />Construction in progress increased as projects started in the current year were not completed in 2019.
<br />Additional information on the Utilities’ capital assets can be found in Note 2B startingon page 36 of this report.
<br />Long-term Debt. At year end, the Utilities had $22,497,728in long-term debt which decreasedfrom$23,950,944in fiscal
<br />2018. The decrease is mainly due toregularly scheduled principal payments.More detailed information about the Utilities’
<br />long-term liabilities can be found in Note 2C startingon page 37 and below:
<br />Increase
<br />20192018(Decrease)
<br />G.O. Revenue Bonds$1,235,000$1,575,000$(340,000)
<br />Revenue Bonds19,825,00020,685,000(860,000)
<br />Unamortized Premium on Bonds818,036870,336(52,300)
<br />Promissory Note619,692820,608(200,916)
<br />Total$22,497,728$23,950,944$(1,453,216)
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