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Total Expenses. In reviewing total expenses in Table A-2 you will notice that there was an increase of 11.5 percent overall,
<br />with the electric department increasing 12.5 percent, and the water department being in -line with prior year. Purchased
<br />Power is the biggest electric department expense, and it increased 12.0 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, 2022
<br />amounts to $89,225,708 (net of accumulated depreciation). This investment in capital assets includes land, buildings,
<br />improvements, and equipment. A table summarizing the balances by fund follows:
<br />Land
<br />Intangible
<br />Land Improvements
<br />Buildings
<br />Machinery and Equipment
<br />Infrastructure
<br />Construction in Progress
<br />Total
<br />Increase
<br />2022 2021 (Decrease)
<br />$ 898,584
<br />$ 858,244
<br />$ 40,340
<br />23,997,909
<br />23,725,578
<br />272,331
<br />10,955
<br />12,604
<br />(1,649)
<br />14,372,796
<br />2,185,398
<br />12,187,398
<br />2,172,446
<br />1,780,778
<br />391,668
<br />45,421,431
<br />45,544,410
<br />(122,979)
<br />2,351,587
<br />7,243,598
<br />(4,892,011)
<br />$ 89,225,708
<br />$ 81,350,610
<br />$ 7,875,098
<br />The total increase in the Utilities' investment in capital assets for the current fiscal year was 9.7 percent.
<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 />• A new field services facility was built for both the Electric and Water Department which makes up the majority of
<br />the increase in Buildings.
<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 Digger Truck for the Electric Department.
<br />• Construction in progress decreased as projects started in the prior year were completed in 2022.
<br />Additional information on the Utilities' capital assets can be found in Note 2C starting on page 37 of this report.
<br />Long-term Debt. At year end, the Utilities had $31,878,720 in long-term debt which decreased from $33,530,262 in fiscal
<br />2021. More detailed information about the Utilities' long-term liabilities can be found in Note 2D starting on page 38 and
<br />below:
<br />G.O. Revenue Bonds
<br />Revenue Bonds
<br />Unamortized Premium on Bonds
<br />Promissory Note
<br />Total
<br />2022 2021
<br />$ 1,565,000 $ 1,885,000
<br />28,875,000 29,930,000
<br />1,438,720 1,506,138
<br />- 209,124
<br />Increase
<br />(Decrease)
<br />$ (320,000)
<br />(1,055,000)
<br />(67,418)
<br />(209,124)
<br />$ 31,878,720 $ 33,530,262 $ (1,651,542)
<br />19
<br />102
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