LIC-04-0084, Guarantee of Payment of Deferred Premiums for the Period of July 1, 2004 to June 30, 2005

Guarantee of Payment of Deferred Premiums for the Period of July 1, 2004 to June 30, 2005

ML042310276
Person / Time
Site:	Fort Calhoun
Issue date:	07/29/2004
From:	Bannister D Omaha Public Power District
To:	Dinitz I Office of Nuclear Reactor Regulation
References
LIC-04-0084, RG-9.004
Download: ML042310276 (3)

Text

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Omaha Public Power District 444 South 16th Street Mall Omaha NE 68102-2247 July 29,2004 LIC-04-0084 U. S. Nuclear Regulatory Commission Attn: Mr. Ira Dinitz Mail Stop: 12 D3 Washington, D.C. 20555

Reference:

Docket No. 50-285

SUBJECT:

Guarantee of Payment f Deferred Premiums for the Peri d f July 1,2004 to June 30,2005

Dear Mr. Dinitz:

In compliance with 10 CFR Part 140.21, the Omaha Public Power District (OPPD) files the attached, "2004/2005 Statement of Cash Flow from Operations," as its guarantee of payment of deferred premiums for the period of July 1, 2004 to June 30, 2005. The cash flow statement deviates slightly from the format of NRC Regulatory Guide (RG) 9.4 because OPPD is a political subdivision of the State of Nebraska. However, the pertinent information identified in RG 9.4 is provided. A copy of Bond Resolution 1788, which established the payment priorities listed on the cash flow statement, was filed with our 1979 guarantee report.

If you should have any questions, please contact Tom Matthews at (402) 533-6938.

Sincerely, Plant ManagedSite Coordinator DJB/mle Attachment c: B. S. Mallet, Regional Administrator, NRC Region IV A. Wang, NRC Project Manager J. G. Kramer, NRC Senior Resident Inspector NRC Document Control Desk Employment with Equal Opportunity

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Attachment LIC-04-0084 Page 1 OMAHA PUBLIC POWER DISTRICT 2004/2005 Statement of Cash Flow From Operations (a)

(Dollars in Thousands)

Actual Projected 12 Months 12 Months ended 5/04 ended 6/05 Operating Revenues $615,543 $605,090 Interest Receipts (b) 2.495 4,520 Total Cash Receipts 618,038 609,610 Less: Operating Expenses (c) 430,608 399,499 Payments in Lieu of Taxes (c) 18.202 18.905 Funds Available for Debt Service 169,228 191,206 Less: Debt Service Payments (d) 80,684 85,835 Funds Available for Other Valid Corporate Purposes (e) $88,544 $105,37 1 Average Quarterly Cash Flow $22.136 $26.343 Percentage Ownership - Fort Calhoun Power Station Unit No. 1 - 100%

Maximum Total Contingent Liability Per Incident Per Calendar Year - $10,000,000

Attachment LIC-04-0084 Page 2 Notes:

(a) The format of this cash flow statement is in accordance with the payment priorities as established by Bond Resolution 1788. The payment priority scheduled for funds realized from operations is as follows:

First Priority: Operations and maintenance expenses and payments in lieu of taxes.

Second Priority: Debt service (principal and interest) on all outstanding bonds.

Third Priority: All other valid corporate purposes. These purposes would include construction, nuclear fuel, working capital, and any other use of the funds to provide for an ongoing utility business. The payment of any funds for the NRC guarantee would fall into the third priority.

(b) Interest collections have been normalized to reflect only the types of interest collections from normal ongoing funds and do not reflect any interest collections made from special construction funds.

(c) Operating and Maintenance Expenses and Payments in Lieu of Taxes have first priority on use of funds derived from operating revenues.

(d) Debt Service Payments have second priority on the use of funds derived from operating revenues.

(e) These funds represent the internal cash flow available for all other corporate purposes and have third priority on funds derived from operating revenues.

Supplementary General Statements:

The following statements are offered to explain some of the District's options and capabilities with respect to its financial management:

' The District maintains a working fund balance of approximately $20 million in addition to special construction and restricted fbnds.

' As an all-public power state, Nebraska does not have a state commission with electric rate jurisdiction.

The District's Board of Directors is empowered to establish electric rates.