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Total Expenses. In reviewing total expenses in Table A-2 you will notice that there was a decrease overall, with both the
<br />electric and water departments decreasing from the prior year. Purchased Power is the biggest electric department
<br />expense, and it decreased 1.0 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, 2023 is
<br />shown below (net of accumulated depreciation). This investment in capital assets includes land, buildings, improvements,
<br />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 />Percent increase (decrease)
<br />1►11PIe3
<br />$ 898,584
<br />24,262,932
<br />9,307
<br />14,957,145
<br />2,609,644
<br />46,892,112
<br />2,310,731
<br />011YOP
<br />$ 898,584
<br />23,997,909
<br />10,955
<br />14,372,796
<br />2,172,446
<br />45,421,431
<br />2,351,587
<br />$ 91,940,455 $ 89,225,708
<br />The Utilities' investment in capital assets for the current fiscal year increased in total.
<br />Major capital asset events during the current fiscal year included the following:
<br />Increase
<br />(Decrease)
<br />265,023
<br />(1,648)
<br />584,349
<br />437,198
<br />1,470,681
<br />(40,856)
<br />$ 2,714,747
<br />3.0%
<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 Freightliner Bucket Truck for the Electric
<br />Department.
<br />• The Electric and Water Department completed some large road projects that contributed to the increase in
<br />Infrastructure.
<br />Additional information on the Utilities' capital assets can be found in Note 2C starting on page 38 of this report.
<br />Long-term Debt. At year end, the Utilities had $30,837,207 in long-term debt which decreased from fiscal 2022. More
<br />detailed information about the Utilities' long-term liabilities can be found in Note 2D starting on page 39 and below:
<br />G.O. Revenue Bonds
<br />Revenue Bonds
<br />Unamortized Premium on Bonds
<br />Total
<br />Percent increase (decrease)
<br />2023
<br />2022
<br />Increase
<br />(Decrease)
<br />$ 1,505,000 $ 1,565,000 $ (60,000)
<br />27,960,000 28,875,000 (915,000)
<br />1,372,207 1,438,720 (66,513)
<br />$ 30,837,207 $ 31,878,720 $ (1,041,513)
<br />(3.3%)
<br />1.0
<br />
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