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Total Expenses. In reviewing total expenses in Table A-2 you will notice that there was a decrease overall, with the electric
<br />department decreasing and the water department increasing from the prior year. Purchased Power is the biggest electric
<br />department expense, and it decreased 8.5 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, 2024 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 />2024
<br />$ 898,584
<br />24,540,931
<br />8,079
<br />15,236,051
<br />2,343,954
<br />53,368,273
<br />325,998
<br />Increase
<br />2023 (Decrease)
<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 />$ 96,721,870 $ 91,940,455
<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 />277,999
<br />(1,228)
<br />278,906
<br />(265,690)
<br />6,476,161
<br />(1,984,733)
<br />$ 4,781,415
<br />5.2%
<br />• The Electric Department makes a loss of revenue payment as part of the cost of the territory acquisition
<br />increasing Intangibles.
<br />• Completion of the new field services facility was built for both the Electric and Water Department which makes up
<br />the majority of the increase in Buildings.
<br />• The Electric and Water Departments completed a portion of an Advanced Metering Infrastructure project that
<br />contributed to the increase in 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 $29,755,695 in long-term debt which decreased from fiscal 2023. More
<br />detailed information about the Utilities' long-term liabilities can be found in Note 2D starting on page 39 and below:
<br />G.O. Revenue Bonds
<br />Revenue Bonds
<br />Unamortized Premium on Bonds
<br />Total
<br />Percent increase (decrease)
<br />Increase
<br />2024 2023 (Decrease)
<br />$ 1,445,000 $ 1,505,000 $ (60,000)
<br />27,005,000 27,960,000 (955,000)
<br />1,305,695 1,372,207 (66,512)
<br />$ 29,755,695 $ 30,837,207 $ (1,081,512)
<br />(3.5%)
<br />19
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