ML14211A186

Guarantee of Payment of Deferred Premiums for the Period of July 1, 2014 to June 30, 2015

ML14211A186
Person / Time
Site:	Fort Calhoun
Issue date:	07/30/2014
From:	Simpkin T Omaha Public Power District
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
LlC-14-0096
Download: ML14211A186 (3)

Text

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iiililii Omaha Public Power District Fort Calhoun Station 9610 Power Lane Blair, NE 68008 July 30,2014 LlC-14-0096 10 CFR 140.21 U. S. Nuclear Regulatory Commission Attn: Document Control Desk Washington, DC 20555-0001 Fort Calhoun Station, Unit No. 1 Renewed Facility Operating License No. DPR-40 NRC Docket No. 50-285

Subject:

Guarantee of Payment of Deferred Premiums for the Period of July 1, 2014 to June 30, 2015 The Omaha Public Power District (OPPD) is providing the attached, "2014/2015 Statement of Cash Flow from Operations," as its guarantee of payment of deferred premiums for the period of July 1, 2014 to June 30, 2015. The Statement provides evidence that OPPD maintains a guarantee of payment of deferred premiums in the amount of $18.963 million for Fort Calhoun Station, Unit No. 1 in compliance with 10 CFR 140.11(a)(4).

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.

No commitments are made to the NRC in this letter.

If you should have any questions, please contact Mr. Bill Hansher at (402) 533-6894.

Respectfully,

~.~

Terrence W. Simpkin Manager-Site Regulatory Assurance TWS/MGB/mle Attachment Employment with Equal Opportunity 4171

Attachment L1C-14-0096 Page 1 OMAHA PUBLIC POWER DISTRICT 2014/2015 Statement of Cash Flow From Operations (a)

(Dollars in Thousands)

Actual Projected 12 Months 12 Months ended 5/14 ended 6/15 Operating Revenues $1,142,780 $1,180,054 Debt Retirement Transfer $17,000 $0 Interest Receipts (b) $835 $1 ,188 Total Cash Receipts $1,160,615 $1,181,242 Less: Operating Expenses (c) $805,458 $824,665 Payments in Lieu of Taxes (c) $32,091 $32,259 Funds Available for Debt Service $323,066 $324,318 Less: Debt Service Payments (d) $125,305 $126,973 Funds Available for Other Valid Corporate Purposes (e) $197,761 $197,345 Average Quarterly Cash Flow $49,440 $49,336 Percentage Ownership - Fort Calhoun Power Station Unit No. 1 - 100%

Attachment LI C-14-0096 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 policies as they relate to its financial management:

• The District maintains a working fund balance of approximately 100-days of cash on hand in addition to special construction and restricted funds in order to take advantage of potential opportunities and manage risks.

• 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.