4.1 ERMUSR 04-12-2022 - Laserfiche WebLink

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Total Expenses. In reviewing total expenses in Table A-2 you will notice that there was an increase of 11.8 percent overall, with the electric department increasing 11.3 percent, and the water department increasing 19.0 percent. Purchased Power is the biggest electric department expense, and it increased 16.2 percent. Capital Assets and Debt Administration Capital Assets. -type activities as of December 31, 2021 amounts to $81,350,610 (net of accumulated depreciation). This investment in capital assets includes land, buildings, improvements and equipment. A table summarizing the balances by fund follows: The total increase or the current fiscal year was 11.0 percent. Major capital asset events during the current fiscal year included the following: The Electric Department makes a loss of revenue payment as part of the cost of the territory acquisition increasing Intangibles. The Electric and Water Department purchased new transportation equipment increasing Machinery and Equipment, with the main increase due to the purchase of a new Bore Rig for the Electric Department. The Electric and Water Department completed some large road projects that contributed to the increase in Infrastructure. Construction in progress increased as projects started in the current year were not completed in 2021. B starting on page 36 of this report. Long-term Debt. At year end, the Utilities had $33,530,262 in long-term debt which increased from $21,046,480 in fiscal 2020.The increase is due to bonding for the new field services building in 2021. More detailed information about the -term liabilities can be found in Note 2C starting on page 37 and below: Increase 20212020(Decrease) G.O. Revenue Bonds$ 1,885,000$ 880,000$ 1,005,000 Revenue Bonds 29,930,000 18,985,000 10,945,000 Unamortized Premium on Bonds 1,506,138 765,740 740,398 Promissory Note 209,124 415,740 (206,616) Total$ 33,530,262$ 21,046,480$ 12,483,782 19 91