HomeMy WebLinkAbout1976-07-08 Min - Board JULY 89 1976
The regular meeting of the Board of Directors was called to order
by the Chairman at 7:32 P.M. in the Conference Room of the District office.
ROLL CALL: Waters , present; Sutton, present; Craig, present; Christensen,
present; Anderson, present;
EMPLOYEES PRESENT: Hobensack and Reed.
OTHERS PRESENT: See attached list of audience attendance.
MINUTES
Director Christensen moved that the minutes of May 18, May 25, June 1 ,
June 10 and June 15, 1976, be approved with the exception of one correction
in the June 15th minutes on page 2, the bottom line, where the word "wire"
should be replaced by the word "work". Seconded by Director Waters .
ROLL CALL: Waters, aye; Sutton, abstain; Craig, aye; Christensen, aye;
Anderson, aye; SO MOVED.
BILLS FOR BOARD APPROVAL - STATEMENT OF GENERAL FUND
Director Christensen moved that the bills be paid. Director Waters
seconded the motion and amended it to read "with the exception of Mr. Cook's
bill . "
ROLL CALL: Waters, aye; Sutton, no; Craig, aye; Christensen , aye; Anderson,
aye; SO MOVED.
Director Sutton asked that the record show "that my ' no' vote is because
I believe the Manager should recommend . . . that these bills should not appear
until the Manager is satisfied and i s recommending payment."
DARREL PIERCE - REA ENGINEER
Darrel Pierce, field engineer with REA, spoke to the Board on REA loan
procedures as the District is interested in applying for a loan from REA
in the amount of approximately $300° 000.00. He indicated that he would
visit the District in August for the purpose of further investigating whether
the District should receive a loan from REA.
BUDGET STATUS REPORT
This matter was tabled to the meeting of July 20, 1976.
1975 AUDIT REPORT - ESENTATION BY ARTHUR YOUNG & COMPANY
Matt Gomez of Arthur Young & Co. reported to the Board on the 1975
audit. - A copy of the 1975 Audit Report is attached to these minutes for
reference. The Management letter prepared by Arthur Young & Co. in con-
junction with the- audit was also discussed. A copy of that management letter
is attached to these minutes.
Mr. Gomez reported that his firm would perform no additional work
without further request from the District.
CRAIG MCFARLAND - I-80 DEVELOPMENT
•--- Mr. McFarland reported to the Board that water usages for his proposed
-project would be approximately 400 GPM, 60,000 gallons per day, during peak
load. He again requested a will-serve letter from the District. It was
agreed that pursuant to prior motion passed by the Board at the meeting on
May 18, 1976, Dan. Cook would contact Martin McDonough and together with
Mr. McDonough , prepare an agreement between the District and Mr. McFarland
regarding providing water to his project prior to completion of the
operational study being prepared by Cook Associates:
JULY 22 STATE LANDS MEETING RE DONNER LAKE
The Board discussed with Mr. Cook his letter addressed to Mr. James
Trout, State Lands Division, dated June 25, 1976, and Mr. Cook's -revised
Page 1 , Minutes of 7/8/76
flow chart attached to that letter related to the hearing scheduled at
State Lands for July 22, 1976, regarding the District's request for an
extension of time for the application to lease State lands and divert
water from Donner Lake. A copy of that letter and its attachments is attached
to these minutes.
The majority of the Board agreed with Mr. Cook's flow chart. Mr. Cook
indicated he would report back to the Board on July 20, 1976, regarding
his presentation at the State Lands hearing on July 22nd.
Don Strand, Dart Resorts, indicated that he was in agreement with
the flow chart prepared by Mr. Cook in behalf of theDi stri ct.
DONNER PINES ELECTRIC SERVICE
Mr. Roger Hauseman appeared before the Board in behalf of his client,
the owners of Donner Pines West, and. agai n expressed his concern regarding
the District's request for underground electric service at Donner Pines
West.
Following a lengthy discussion it was agreed that the District and
the District' s engineer, Dan Cook, would review their files for information
related to this matter and the matter would be put back on the agenda for
the meeting of July 20, 1976.
Director Craig stated that. Resolution 7118 applied to the situation.
The Manager indicated that a copy of that resolution would be made avail-
able to Mr. Hausema.n for his examination.
EIS - TAHOE DONNER SALES OFFICE WELL
Fol owi ng discussion with John Sharp, District hydrologist, and Dan
Cook, District engineer, both of whom recommended a negative declaration
be prepared on the Sales Office Well , and the Manager, who indicated he --�
was not in agreement with a negative declaration on the Sales Office Well
site, Director Christensen moved that the District declare a negative
declaration on the Sales Office Well Site. Seconded by Director Waters.
ROLL CALL: Waters , aye; Sutton, no; Craig, no; Christensen, aye; Anderson,
aye; SO MOVED.
Director Craig asked that the record show that his 'no' vote was
"because of the `yes' comment on questions 18, 20 and 22 and I think the
people of the District should be given a chance to be heard on those
impacts."
RATE STUDY - REQUEST OF EXTENSION OF TIME
Dan Cook indicated that he is running behind schedule on the rate
study primarily because of the amount of material requested of the
District and the difficulty of District employees t-n--reviewing the records
of the District to provide that material . He indicated the study would
be completed and presented to the Board at the meeting on September 7, 1976.
Director Craig moved that the meeting adjourn to next Tuesday at
7:30 P.M. Director Sutton seconded the motion. No vote was recorded.
RESOLUTION - RECONDUCTORING & UNDERGROUND OF TAHOE DONNER SUBSTATION
Director Christensen moved that the Board authorize the Manager to
go to bid on 7,500 feet of 500 MCM Aluminum UD Conductor. Seconded by
Director Waters.
ROLL CALL: Waters, aye; Sutton, no; Craig, absent; Christensen , aye;
Anderson, aye; SO MOVED.
Director Sutton asked that the record show "that I would like to have
more information from the Manager from the standpoint of the total expense
of the project. "
Page 2, Minutes of 7/8/76
DISTRICT COUNSEL REPORT
Mr. Grumer reported to the Board that the recall election is set
for September 28th, giving approximately 12 days for candidates seeking
the office, should the recall be effective, to file their nomination
petitions.
MANAGER'S REPORT
The Manager indicated that the matter of the job applications for
the Superintendent of Power and Water could be tabled to the next regular
meeting of July 20, 1976.
The Manager indicated a meeting had been arranged with the Bureau of
Reclamation regarding hydropower at Stampede. It was agreed that a Special
Meeting of the Board would not be held for the meeting.
The Manager reported to the Board that he had contacted the NREOA
regarding a Management Audit and a Directors' attitude survey for $2800
plus expenses. Director Christensen so moved that a management audit and
Directors' attitude survey be done for $2800 plus expenses. Seconded by
Director Waters.
ROLL--CALL: Waters , aye; Sutton, no; Craig, absent; Christensen, aye;
Anderson, aye;
Director Sutton asked that the record show that she voted 'no'
"because I believe that it is not timed when it could be useful to the
Dfs tri ct because of the recall action, etc. already in progress ,
Director against Director."
The Manager explained to the Board that he must have an operation
and will gone from the District for at least 3 months. He requested
^A 1/2 pay for 3 months and that his insurances be paid and if he is 'then unable
to return to work after 3 months, he requested that his insurances be paid
for another 3 months. If, at the end of 6 months, he is still unable to
return to work, salary and insurances will be discontinued. The Manager
requested that this matter be placed on the agenda for the July 20th
meeting and discussed at that time.
The Manager indicated that he would like to have one more director
authorized to sign checks for the District. This matter was tabled to the
July 20th meeting.
Director Christensen moved that the meeting adjourn. Seconded by
Director Waters. All aye by voice vote. SO MOVED.
The meeting was adjourned at 1 :15 A.M.
The remaining agenda items were tabled to the next regular Board meeting
on July 20, 1976.
Director Sutton asked that the record show that her 'no' vote on
the new employee "has to do with my belief that the District should be con-
sidering an office manager/accountant rather than another clerk in the
office. "
VENOM
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
By
M. Rex Anderson, President of the Board
J e 0. Reed, Secretary
Page 3, Minutes of 7/8/76
APT H U R YOUNG COMPANY.
SS5 CAPITOL MALL
SACRAMENTO, CALIFORNIA 95814
June 15, 1976
Board of Directors.
Truckee-Donner Public Utility District
Gentlemen '
We have examined the financial statements of the Truckee-Donner
Public Utility District at December 31 , 1975 and for the year then
ended and have issued our report thereon dated April 2, 1976. As
a part of our examination, we reviewed and tested the District ' s
system of internal accounting controls to the extent we considered
necessary in order to evaluate the system as required by generally
accepted auditing standards. Under these standards, the purpose of
such evaluation is to establish a basis for reliance on the system
in determining the nature, timing and extent of other auditing pro-
cedures that are necessary for expressing an opinion on the financial
statements.
Tree ob jecti_ve of internal accounnting controls is to provide
reasonable, but not absolute, assurance as to the safeguarding of
assets against loss from unauthorized use or disposition and as to
the reliability of financial records for preparing financial state- _
ments and maintaining accountability for assets. The concept of
reasonable assurance recognizes that the cost of a system of internal
accounting control should not exceed the benefits derived, and also
recognizes that the evaluation of these factors necessarily requires
es tiinates and judgments by management .
There are inherent limitations that should be recognized in
considering the potential effectiveness of any sys tem of internal_
accounting controls. In the performance of most control procedures,
errors can result from misunderstanding of instructions, rlistakes
of judginent , carelessness, or other personal factors . Control pro-
cedures whose effectiveness depends upon segregat ion of duties can
be circumvented by collusion , si.mila±-ly, control procedures can be
circumvented intentionally by management with respect either to the
AR'"HUR YOUNG Cx COMPANY
Board of Directors --2- June 15 1976
execution and recording of transactions or with respect to the esti-
mates and judgments required in the preparation of financial state-
ments. Further, projection of any evaluation of internal accounting
controls to future periods is subject to the risk that the procedures
may become inadequate because of changes in conditions, and that the
degree of compliance with the procedures may deteriorate.
Our study and evaluation of the District 's system of- internal
accounting controls for the year ended December 31 , 19753, which were
:ra.de for the purpose set forth in the first paragraph above, were
not designed for the purpose of expressing an opinion on internal
accounting control and would not necessarily have disclosed all
weaknesses in -the system. such study and evaluation disclosed the
conditions described in the following report that we believe to be
material wc-a.knecses. We have segregated our comments on internal
. controls into two sections as follows
I . Items for review by the Board of Directors
II . Additional commentary required by R.E.A.
These weaknesses .were not of such a nature as to affect our ability
to express an opinion on the District ' s financial statements, but
they di.d requ.i_r e us to perform additional auditing procedures or to
extend certain procedures.
Very truly yours,
f
I . ITEMS FOR REVIEW BY THE 130ARD OF DIR,ECmORS
Late Posting of Accounting Records
The posting of the .general ledger is approximately two
months behind the current month. In addition, the property
ledger, which is a detail of all assets included in the plant
in service general ledger account , has not been posted since
December, 1974.
Current records should be maintained for all transactions
and current reports of the results of those transactions should
be submitted to the Board of Directors (Board) to -enable them
to adequately fulfill their duties as Board members. ' We believe
that all postings to the .general ledger and the property ledger
should be completed within one month and the monthly financial
statements should be available at the first Board meeting of
the second succeeding month.
Additional Reporting
The District ' s monthly reporting package includes a balance
sheet , income statement , comparison of budget to actual , and
an aged listing of accounts payable. In our prior year ' s letter
dated October 62 1975, we recommended that an aged listing of
accounts receivable and a statement of cash position also be
included . 'f nis was not possible at the time due to inadequate
information being accumulated by the billing machine. With addi-
tional information now made available by the installation of
the District ' s new mini---computer, we belie-%7e that these reports
should now be supplied to the Board for their review.
Collection of Delinquent Accounts
During our reviej�, of the other accounts receiva ble, we
6
noted many past due accounts for which no effort had been made
to obtain payment . Collection of problem accounts receivable
is facilitated by prompt follow-up as soon as the account becomes
delinquent.
In Our opinion, a reduction of lasses on accounts ..receivable
would be achieved if a prompt follow-up was made. 0a",all delinquent
accounts, and we recommend that the District institute these
procedures.
Additional Accounting Staff
In the prior year, we were unable to measure the impact of
the workload backlog, growth within the District , additional
Board requirements, and the revised accounting system. We now
I . ITEMS FOR REVIEW BY THE BOARD OF DIRECTORS (continued)
Additional Accounting Staff (continued)
believe that the current workload in the accounting department
warrants the addition of a clerk to assist the bookkeeper in
her current duties. Such an addition would facilitate the
implementation of the suggestions discussed above.
Compliance With Sierra Pacific Loan Agreement
In our prior year' s letter we also mentioned the lack of
compliance with the Sierra Pacific loan agreement . we under-
stand the District has been discussing this matter with the
• . lender in an of-fort to resolve the non-compliance with certain
loan provisions, but to date no. .resolution has been achieved:
We have again received a waiver- of compliance for the current
year, but we recommend the District continue negotiations to
resolve .this matter.
I I . ADDITIONAL COI TAIENT REQUIRED B�:� R.E.A.
The R.E.A.. requires that the District ' s independent account-
ants comment on various aspects of the District ' s accounting
and. administrative controls . The following items are in response
to the requirements set forth by R.E.A.
A. The financial statements were audited in conformity with
the Statements on Auditing Standards issued by the
American Institute of Certified`Public Accountants and,
in addition, additional audit procedures prescribed by
R.E.A . in its Bulletin 155-1 were performed for all
material accounts.
B. Other Accounting Matters
1 . Internal Controls - The system of internal controls
at the District is adequaFf to achieve reliable
financial data, but it iti v-,eakened by a lack of
segregation of duties , a situation which is inherent
in a small staff . Also, the delays in current
reporting which was previously discussed, eliminate
the possibility of timely review by the Board.
2. Accounting and Records - All accounting procedures
and records are adequate except as mentioned in
Section I of this letter. t
I I. ADDITIONAL COMMENT REQUIRED BY R.E.A. (continued)
3. Mate.rial_s .Control - Controls over materials and
supplies are adequate, and no significant discrep-
anci_'es have occurred between the physical count
and the perpetual records.
4. Compliance with Loan Documents - The District is in
compliance with all loan agreements except the note
payable to the Sierra Pacific Power Company. See
1001*- Note 4 to the financial statements for details of -
non-compliance.
5. _Reports to R.E.A . - The Truckee-Donner report to
R. E. A . for the period ended Dece-mber 31 , 1975 is in
agreement with the books and records of the District .
6. Service Contracts -- The District does not utilize
service companies in any of its operations .
7. Deposits - * All deposits are made in banks insured
by an agency of the Federal government .
8. Insurance Certifications - The replacement policy
information reflects the actual_ policies maintained
by the District
9. Income Tax Status - The District is organized under
the California Public Utility District Act and as
such is a tax-exempt organization and is not required
to file any annual tax returns.
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
POST OFFICE BOX 309
TRUCKEE, CALIFORNIA 95734
TELEPHONE 587-3896
DA C FOR THE MEETING OF 7 ?� •
AUDIENCE ATTEN N E
PLEASE PRINT -YOUR NAME.
�Da vx_
2. �e
3.
4
5. ),- A7 -c . C:;e�eev e4_6f_���
6
• 141z
t
17
4111,6
4
8.9.
10.
1 i
12• H6am --
13. -
14.
15. r
16. 4
17. ` t 1Lit
80 `�'� J.
19.
`
200 1AA
��
21 .
22.
23.
STATEMENT OF GENERAL FUND
July 2, 1976
Bank Balance - June 11 , 1976 $105 5030.11
Truckee Electric Revenue 1215876.09
Truckee Water Revenue 79322.65
Donner Lake Electric Revenue 26,403.26
.-... Tahoe Donner Dater Revenue 39855.00
Miscellaneous Billings Revenue 2,831 .58
Miscellaneous Revenue 119647.58 $2789966.27
Approved Billings $ 999837.30
Bank of America - truck loan 474.02
- Federal tax deposit 39091 .99
George Cattan - pension payment 258.75
Directors - Board meeting payments 450.00
George Potter - refund of credit balance on closed
account 5.00
IBEW - Union dues, June 138.00
U.S. Post Office - postage 400.00 ($104,655.06)
PAYROLL
6/15/76 O.T. D.T. Standby Gross Net
Barry 538.56 414.55
Chapman 144. 38 628.38 461 .09
Connell 538.56 400.15
Drace 83.64 27.88 724.88 490.50
Grow 695.20 535.18
Hobens ack 985.50 718.14
Kinzie 249.23 104.94 867.21 605.97
Lopez 695.20 499.28
Painter 161 .25 132.44
Pomponio 18.00 370.00 289.31
Reed 74.34 489. 70 343.39
Reynolds 47.40 79.00 821 .60 614.52
Rose 276.50 210.92
Rully 440.80 318.53
Silva 51 .00 799.00 596.01
Straub 79.00 774.20 547.79 ($7,177.77)
667.99 132.82 158.00 9806.54 7177.77
PAYROLL
6/30/76 O.T. D.T. Standby Gross Net
Barry 538.56 414.18
Chapman 45.38 529.38 393.18
Connell 9.18 547.74 406.41
Drace 203.87 826.23 542.76
Grow 35.55 730.75 560449
Hobensack 985- 50 706.27
Kinzie 170.53 683.57 494.57
Lopez 31 .60 79.00 805.80 571 .49
Painter 157.50 129.69
Pomponi o 352.00 264.82
Reed 24.78 440.14 306.24
•-- Reynolds 695.20 537.81
Rose 269.50 206.29
Ru l l y 28.93 513.81 354.09
Silva 25. 50 85.00 858.50 640.07
Straub 695.20 505.07 ($79033.43)
543.72 31 .60 164.00 9629.38 7033.43
Bank Balance - July 2, 1976 $1609,100.01
Bills for Board Approval
Ace Hardware Padlocks & misc. hardware 156.62
A,l pha Hardware Parts to repair pumps gloves ,
pick handles , lantern, lights 58.35
American Computer Supplies Office supplies 32.40
Armanko Office supplies 51 .60
Atl anti ce Richfield Gasoline 556.50
R.W. Beck & Assoc. See Comments 59747.82
Blue Cross July health premium 980.46
Bruning Division Office equipment rental 63.60
Cal Western Life See Comments 2 9864.85
Camellia Valley Supply Water department supplies 715.52
Cook Associates See Comments 69799.38
Crown Life Insurance Long term disability premium,
June 240.54
D & D Agencies Billing Expense - Greyhound 92.15
Delta Lines Shipping Expenses 76.83
Dynameter Elapsed time meter 64.40
General Electric Transformer & pump evaluations 565.50
Gri ffdyn Company Caution tapes , electric & water 216.24
Hendrix Wire & Cable Cable spreading tools , cable spreaders
153.53
Home Lumber Hardware - PUD warehouse lunch room 624.09
IVC Printing Office supplies 97.05
McBee Binder Co. Office supplies 34.85
Martin McDonough Legal services 19157.57
McGraw Hill Publications Position Vacant Advertisement 111 .00
Natl . Rural Elec. Coop.
Assoc. Renewal subscription to share pack 75.00
Neptune Water meter chamber complete 124.21
Ohio Brass Co. 65 KV Bushings 19026.08
Pacific Hydro Corp. Water level tester 106.82
Pacific Telephone Co. Telephone charges - May 387.56
Pitney Bowes Office equipment lease 39.75
Premier Fastner Co. Oil Filters 27.85
Ruralite Safety training 65.50
Sac Utilities Supplies Meter washers , couplings,
gaskets, idlers 223.83
Sangamo Meter clock regulators 118.80
Sierra Pacific Power Co. April Usage 1119646.04
Sierra Sun Position Vacant Advertisement 82.00
Southern Pacific Trans
Co. Overhead power line crossing -
annual lease payment 20.00
Spiegel & McDiarmid See comments 39007.76
Stice & Wells Business comprehensive policy
premium due after annual audit 567.00
Sun Printing Office Supplies 188.73
Sunrise Clinical Water analysis 19.50
Tahoe National Bank Computer Loan payment 356.44
Taylor's Tire Shop Tire repairs F 28.87
Tei chert Aggregates Paving supplies 148.05
Truckee Donner Disposal Garbage service - may & June 45.00
Universal Computer App. Computer supplies , operator
billing time 994.60
USDA-REA See Comments 15,486.34
U.S. Post Office Annual post office box rental 8.00
U.S. Rental Corp. Truck rental 0 road repairs 89.38
George Wahn Terminator kits , tapes , fuses , insulators ,
braided nylon rope 29146.30
Water & Waste Engineering Position vacant advertisement 70.00
Water & Sewage Works Position vacant advertisement 70.00
Wedco Insulators , fluorescent lamps 745.62
E.P. Welch- New locks installed 21 .19
Western Hardware & Tool Gloves, folding rules , car bit,
wire cutters, buckets , grips 112.78
Western Power Products Glove box, tool tray, bucket cover-, 119.86
Xerox Office machine rental 143.10
Zellerbach Paper Co. Toilet tissue , paper towels 101 .87
Zep Manufacturing Co. Glass cleaner 58.25 ($1599932.93)___
Balance of account after payment of above $167.08
Statement of General Fund, July 2, 1976 continued
Necessary funds to clear accounts payable todate $989415.04
Comments:
R.W. Beck & Assoc. $5,747.82 - Assistance rendered in connection with
,.,._ securing a power supply from PG&E and a power wheeling
agreement with S.P.P.Co. 29275.95
Consulting services in connection with cost-of-service
analysis and rate design for electric utility 788.64
Professional services in connection with a rate
proceeding by Sierra Pacific before FPC i.n Docket
ER76-87 2,683.23
Cal Western Life $2,864.85 - Pension plan premiums on new participants
who entered plan 1/l/76 - premiums for 3/76, 4/76
and 5/76 19712.85
Premium for 7/76 for all participants 1 9152.00
Cook Associates $6,799.38 - Billed to Dart $4,029.79
Spiegel & McDi armi d $3,007.76 - Professional services rendered regarding
Power Supply proposal purc-hase from PG&E
Fees charged at 1/2 regular rate as per letter of 6/1/76
7/l/75 - 1/31/76 $576.67
2/l/76 - 4/30/76 $2,431 .09
USDA-REA $15,486.34 - Loan reduction
Principal applied $13,000.00
Interest charged 29486.34
OMMM
w
BALANCE OF ACCOUNTS PAYABLE - July 2, 1976
Current Inv. No Total
Vendor Prior April -May June Statement Rec'd Due
Alpha Hardware 71.87 71.87
Arthur Young & Company 4540.00 4540.00
Calif. Municipal Utilities 370.00 370.00
Sierra Pacific Power Co. 88249.66 88249.66
Truckee Tahoe Lumber Co. 30.59 30.59
Universal Computer Applications 3000.00 3000.00
George Wahn 2320.00 2320.00
88249.66 7230.00 3102.46 98582.12
Comments:
Arthur Young & Company $4540.00 - Balance due on audit, $4150.00
Consultation concerning separate accounting for Tahoe Donner Water System, $350.00
Reproduction of contract files, $40.00
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
FINANCIAL STATEMENTS
AND SUPPLEMENTARY INFORMATION
YEAR ENDED DECEMBER 31 , 1975
with
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
ARTHUR YOUNG & COMPANY
ae..
CONTENTS
soft
Report of certified public accountants
Financial statements
...-
Balance sheet
"` Statement of revenues and expenses
Statement of operating margins and other equities
oh- Statement of changes in financial position
Supplementary information
Statement of departmental operations
O 'd ''d O U) N• P' C O 0 0 p 91 (D �
F•J �i FJ 0 0 c+ 4 c+ m 0 ::r m K
m m �+• O f-j O (D m K O 4 07, x bd
D� O m 0 c+ �g I'd C C+ C+ m m Z� (D O I
4 R• �r O W c+ C m c+ c+ C� P d R, ;u
U) a� (D 0 �g p m r. 0 (j) N• (n U) m O P O
FJ• (D I . 0 c+ O P m (D rZL 0 C 0 O
(j) tv c+ �:r r O 0 �3 �a 0 (D 0 ►-b
p d FJ• O O U) F+ 0 � 0 U) (D (D 0
�d 0 FJ• m 0 F-J CD CD FJ• c+ 4 {D 4 td c
�-i O p FJ• m m 0 0 C+ CD �:r c+
'o EI FJ• c+ c+ (n Eg O N• cD (D CD m Eg 0 (D
O I'd 0 P. �31 V FJ• O sy an 5 P. v O 0
U) P FJ• 0 cn P• m P 0 ss O p O (D 0 �-J c-F
(D 0 O 0 c+ ag 0 4 'd (D 0 0 P 0 0 F-'• m H.0
IJ• �'' 0 0 �-b W c-F FJ• P' H. O tz
0 O p c-+ (D FJ• �J O �:r O r-L FJ• m sz ci c+ cl, n
n 0 m 4 0 - U) (D c+ O c+ �r c+
C) c+ v p F•J 0 �J c+ U) %C m H• 0
I--'• 0 �r (D U) I-' 0 Co H. c+ (D F-'• P, 0 aq I--'• �v � FJ. � FJ.
D/ 01 c-F 0 0) p ag C tel 0
p � 0 m 4 Eg � rn � N rmn � t� � t� D
•
5 0 P 0 � 0 (D � m (D 0 0 O H. 10 FJ• z
(D P' � 4 (D O !z 0 FJ• O a 0 FJ• CD (n P r) -�
:J 0 CD FJ• '0 U) c+ 0 4 p 0 U) c-F 0 c+
(D c+ 0 �:s c+ P. U) 04 4 4 `C 4
0 p H. aq m c+ CD FJ. 4 to RA P P �• FJ• �•
(D P E"3 CL Fa. •.1 `C U) U) IJ• 0 C '►�. C�
U1 N FJ• c-F O 4 P7' (D c+ ag c+
U] El ;:r p �:% CD 0 C c+ FJ• P�
P FJ• U) P CD 0 P m c+ (D N• 0 sz P P 0 (D P? Cr
K 0 C+ I't 0 �-b 0 1 H. O 0 P. 0 x c+ P'
�-b P' P- Id O O a, d O 0 c+ U) PL m FJ• 'd N
0 c+ m O 0 m �r 0 p m d p cn
K m c+ (D (D O (D 0 P FJ• F-J 0 (D 0 D
O FJ. c•+ c+ �:V a 0 ►+ �:r 0 0 U) O 0 n
iy m O FJ• :• (D m 0 0 10 m m m D
c+ 0 0 P. � m P� 4 c+ H. O O P' O U)
p� +-• c+ III n (D :34 K c+ ►'i O U) CS' U) K
O 0) m Fd O U) m 0 �:r r-L 0 FJ• (D �:r m
0 C+ c+ 0 (D FJ• O c+ O 4 m z
FJ• H- c+ m H- 4 F-+ FJ c+ H. U) Olq a O m W c+ 0
�! U) p 0 U) c+ FJ• m c+ 4 F-J n m
PIV 10 0 U) p 0 P' - O D N
�i �! �-•! �o ::r O Cl U) P 0 0 FJ. FJ• (D O F-'• F.J p D
m F-J m � m m(D '� c+ U) FJ• c+ 0 cfl
co m p O m 0 FJ• 0 p U) H. 0 ::r x
m (D (n U) U) O FJ c+ a F-J • 0 F-J c+ Cn m z -
m CD 10 FJ• (D ag � C+ �' � D 0
c+ C+ 0 CD c+ U) a 04 (D P Pr
C+ CL �-b m P 4 (D cn D
0• av
.rw
ARTHUR YOUNG & COMPANY
mom
The Board of Directors
Truckee-Donner Public Utility District
of the financial information referred to in the preceding para-
MOW graph. It has been subjected to the tests and other auditing
procedures applied in the examination of the financial statements
mentioned above and, in our opinion, is fairly stated in all
respects material to the financial statements taken as a whole.
AMMV a4'ati*4 4140%,&A A
mow
April 2, 1976
Aoft
f�.
3LIC UTILITY DISTRICT
1C E SHEET
1975 and 1974
MARGINS AND LIABILITIES
1975 1974
Restated
Margins: (Note 2)
Operating margins $ 860,210 $ 891 F 508
Other equities 6101969 593,096
1,471, 179 11 484,604
Long-term debt (Note 4) :
REA bonds payable 372,574 3919574
Note payable to Sierra Pacif is Power Company 102,313 1159492
Assessments 18.9300 201,274
Note payable to bank 22,930
Other 11320 1,980
5171437 529,320
Current liabilities:
Accounts payable 4149160 1799630
Consumer deposits 10, 144 6,870
Accrued liabilities 171q978 191*944
Total current liabilities 442,282 206,444
Customer advances for construction (Note 3) 2819962 1489030
Contingencies (Note 5) - -
$2,712,860 $2,368,398
ng notes.
TRUCKEE-DONNER I
BAI
December
ASSETS
1975 1974
Restated
Utility Plant, at cost (Note ) ;
(Note 2)
Plant in service:
Electric $2 109 710 $1. , , 99401 521
Water 925,446 8961620
General 320,2 59 2902996
323551415 311282137
Less accumulated depreciation (1, 544,028) (19 4549 844)
Net plant in service 1,8112387 1,6732293
Construction in progress 657 1262671
Plant acquisition adjustments 5.9594 69358
Net utility plant 1,8171638 19806,322
Non-utility property 259717 26, 131
Restricted funds (Note 3) 2839612 142, 170
Current assets:
Cash 1289313 162755
Notes receivable 7, 100 14,307
Accounts receivable - consumer, less allow-
ance for doubtful accounts of $10,000
($5,000 in 1974) 2142903 105,926
Accounts receivable - other, less allow-
ance for doubtful accounts of $6,400
($4, 100 in 1974) 222570 372799
Materials and supplies, at cost 2071801 213,842
Other current assets 5j,206 59146
Total current assets 585,893 3939775
$2,712,860 $2,368,398
See accompan
X•
r..
TRUCKEE-DONNE.R PUBLIC UTILITY DISTRICT
STATEMENT OF REVENUES AND EXPENSES
Ono
Years Ended December 31, 1975 and 1974
�.
1975 1974
Restated
(Note 2)
Operating revenues:
Electric $1 , 504,697 $1 , 034,448
Water 96, 732 101 ,276
1 ,6011429 1 , 135, 724
Operating expenses:
soft
Power purchased 1 , 165, 340 721 , 390
Transmission expense 21 , 303 25,624
�.. Distribution expense 781385 70, 105
Consumer accounts expense 106, 310 64, 145
Administrative and general expenses 135,652 116,008
Depreciation expense 111 , 766 111 , 507
Interest on long-term debt 13,971 19,282
11?6321727 1 , 128, 061
Operating margins (loss) (31 ,298) 71663
Nonoperating revenue :
Net merchandise and jobwork (674) 9,689
Interest income 141946 4, 163
... Other income 3,601 191
Nonoperating margins 17, 873 14, 043
�- Net margins (loss) $ (13,425) $ 21 ,706
ANA
000
fla-
See accompanying notes.
air.
soft TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
STATEMENT OF OPERATING MARGINS AND OTHER EQUITIES
mom Years Ended December 31, 1975 and 1974
Other equities
oft, Non-
Operating operating Capital
margins margins gains Total
Owl
Balances at December 31,
0' 1973 $8839845 $ 94 , 132 $484,921 $579,053
Net margins ( loss)
io^ for the year as 14,043
Restated (Note 2) 7 ,663 142043
poft Balances at December 311
1974 891,508 108 ,175 484,921 593,096
Net margins (loss) 17, 873
for the year (31,298} 17 ,873
Balances at December 31,
.,.. 1975 $8602210 $1262048 $484,921 $610,969
mom See accompanying notes .
,N.R
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended December 31 , 1975 and 1974
1975 1974
Restated
(Note 2)
Funds were provided by:
Operations:
Net margins (loss) $(13,425) $ 21 ,706
Depreciation expense not requiring
an outlay of funds 111, 766 111 , 507
Net funds provided by operations 98 , 341 1332213
Restricted funds transferred to general
.� fund 196, 121
Construction and maintenance funds contri-
'` buted to the District 133,932 24, 069
Increase in long-term debt 231939 69058
Materials salvaged in excess of removal
6,213 8,044
cost
262 ,425 367, 505
Funds were utilized for:
Additions to utility plant 128, 881 269,906
3
Payments. on long-term debt 35,822 35,477
Additions to restricted funds 141 ,442 -
Refund of customer advances for
construction - 51,660
JEW 3063145 357,043
Increase (decrease) in working capital $(43,720) $ 10,462
See accompanying notes.