MONTHLY FINANCIAL STATEMENTS For the Month Ended July 31, 2018

Transcription

1 MONTHLY FINANCIAL STATEMENTS For the Month Ended July 31, Phone: (509) Fax: (509) Public Utility District No. 1 of Franklin County, PO Box 2407, Pasco, WA

2 Statement of Net Position As of July 31, 2018 and 2017 ASSETS AND DEFERRED OUTFLOWS OF RESOURCES ASSETS Current Assets Cash $4,539,945 $6,266,732 Investments Restricted Construction Account 0 1,269,435 Unrestricted 20,007,892 18,811,967 Accounts Receivable 8,714,447 10,525,450 Inventories 4,183,132 3,866,888 Prepayments 207,882 (35,172) Derivative Asset 349, ,619 Asset Held for Sale 2,447,004 5,447,004 Other Current Assets 6,187 26,901 Total Current Assets 40,456,451 46,741,825 Noncurrent Assets Other Receivables 5,850,000 6,450,000 Restricted Debt Service Reserve Fund 3,914,649 3,914,649 Utility Plant Land 893, ,104 Electric Plant in Service 233,879, ,836,385 Construction Work in Progress 8,415,934 8,650,113 Accumulated Depreciation (101,003,652) (95,169,819) Net Utility Plant 142,184, ,209,782 Total Noncurrent Assets 151,949, ,574,431 TOTAL ASSETS 192,405, ,316,256 DEFERRED OUTFLOWS OF RESOURCES Accumulated decrease in fair value of hedging derivatives 472, ,480 Deferred loss on refunding 338, ,911 Deferred pension outflows 888,388 1,425,779 TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 194,104,445 $ 197,581,426 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION LIABILITIES Current Liabilities Accounts Payable 6,741,326 6,278,897 Customer Deposits 1,551,226 1,366,997 Accrued Taxes Payable 1,453,635 1,462,387 Accrued Interest Payable 960,948 1,022,004 Other Accrued Liabilities 2,114,182 2,640,215 Revenue Bonds, Current Portion 3,260,000 3,200,000 Derivative Liability 472, ,480 Total Current Liabilities 16,553,455 16,383,980 Noncurrent Liabilities Outstanding revenue bonds 57,309,441 60,862,547 Net Pension Liability 6,467,185 8,573,908 Other Credits & Liabilities 2,346,013 2,670,096 Total Noncurrent Liabilities 66,122,638 72,106,551 TOTAL LIABILITIES 82,676,094 88,490,531 DEFERRED INFLOWS OF RESOURCES Accumulated increase in fair value of hedging derivatives 349, ,619 Deferred pension inflows 1,141, ,778 Deferred Gain on Refunding 228, ,995 NET POSITION Net Investment in Capital Assets 83,315,350 76,892,688 Restricted for Debt Service 3,914,649 3,914,649 Unrestricted 22,478,906 27,316,165 TOTAL NET POSITION 109,708, ,123,503 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION $ 194,104,445 $ 197,581,426 1

3 For the Month Ended July 31, 2018 and 2017 Retail Energy Sales $7,745,609 $8,151,944 Broadband Revenue 138, ,701 Sales for Resale 1,068, ,788 Other Electric revenue 7,800 5,900 Other Operating revenue 38,900 23,712 TOTAL 8,998,509 8,874,045 Power Supply 6,206,388 5,953,468 System Operations & Maintenance 463, ,543 Broadband Operations & Maintenance 36,496 27,906 Customer Accounting & Information 227, ,096 Administration & General Expense 550, ,317 Taxes 426, ,580 Depreciation & Amortization of Intangible Assets 570, ,171 TOTAL 8,480,554 7,742,081 OPERATING INCOME 517,954 1,131,964 NON & EXPENSES Interest Income 41,360 21,724 Bond Interest & Amortization (173,844) (183,960) Other Nonoperating Revenue (Expense) ,185 TOTAL NON & EXPENSES (132,121) (145,051) INCOME (LOSS) BEFORE CAPITAL CONTRIBUTIONS 385, ,913 Capital Contributions 37,356 45,032 CHANGE IN NET POSITION 423,190 1,031,945 NET POSITION, BEGINNING OF PERIOD 109,285, ,091,557 2

4 For the Seven Months Ended July 31, 2018 and 2017 Retail Energy Sales $43,961,623 $44,346,135 Broadband Revenue 956, ,968 Sales for Resale 4,927,263 3,908,494 Other Electric revenue 61,900 59,110 Other Operating revenue 366, ,922 TOTAL 50,273,432 49,426,629 Power Supply 35,167,779 32,337,623 System Operations & Maintenance 3,441,837 2,715,546 Broadband Operations & Maintenance 304, ,922 Customer Accounting & Information 1,542,387 1,256,790 Administration & General Expense 3,510,158 3,743,843 Taxes 2,850,288 2,760,445 Depreciation & Amortization of Intangible Assets 3,933,673 4,010,348 TOTAL 50,750,353 47,014,517 OPERATING INCOME (476,921) 2,412,112 NON & EXPENSES Interest Income 249, ,128 Bond Interest & Amortization (1,216,908) (1,255,450) Other Nonoperating Revenue (Expense) 70,923 75,073 TOTAL NON & EXPENSES (896,062) (1,058,249) INCOME (LOSS) BEFORE CAPITAL CONTRIBUTIONS (1,372,983) 1,353,864 Capital Contributions 1,112, ,271 CHANGE IN NET POSITION (260,965) 2,080,135 NET POSITION, BEGINNING OF PERIOD 109,969, ,043,368 3

5 For the Twelve Months Ended July 31, 2018 and 2017 Retail Energy Sales $ 80,285,637 $ 64,374,464 Broadband Revenue 1,586,729 1,193,740 Sales for Resale 7,874,748 5,378,956 Other Electric revenue 92, ,481 Other Operating revenue 541, ,306 TOTAL 90,380,388 71,563,947 Power Supply 60,634,816 47,759,380 System Operations & Maintenance 5,566,800 3,566,122 Broadband Operations & Maintenance 458, ,769 Customer Accounting & Information 2,639,249 1,667,683 Administration & General Expense 5,640,041 5,344,907 Taxes 5,063,554 4,159,071 Depreciation & Amortization of Intangible Assets 6,789,448 5,651,014 TOTAL 86,792,016 68,379,946 OPERATING INCOME 3,588,372 3,184,001 NON & EXPENSES Interest Income 371, ,256 Bond Interest & Amortization (2,094,480) (2,070,431) Other Nonoperating Revenue (Expense) 114,096 94,808 TOTAL NON & EXPENSES (1,608,442) (1,823,367) INCOME (LOSS) BEFORE CAPITAL CONTRIBUTIONS 1,979,930 1,360,635 Capital Contributions 2,605,473 1,277,879 Extraordinary Gain (Loss) (3,000,000) CHANGE IN NET POSITION 1,585,403 2,638,514 NET POSITION, BEGINNING OF PERIOD 108,123, ,484,989 4