ML18192A393

Request for Additional Financial Information. (Response to Items 5 Through 12)

ML18192A393
Person / Time
Site:	Palo Verde
Issue date:	10/24/1975
From:	Arizona Electric Power Cooperative
To:	Office of Nuclear Reactor Regulation
References
Download: ML18192A393 (94)

Text

Request: for Additional Pinancial Information Palo Verde Nuclear Plant Units 1, 2, and 3 Docket Nos. 50-528,50-529, and 50-530 ARIZONA ELECTRXC POWER COOPERATXVE, XNC.

October 24, 1975 (Response To Items 5 Thxough 12)

TABLE OF CONTENTS ITEM 5 ITEM 6 ITEM 7 ;12 ITEM 8 17 ITEM 9 ITEM 10 ITEM 11; 54 ITEM 12 55

"Complete for each participant the attached schedule titled, "Sources of Funds for System-Wide Construction Expenditures During Period of Construction of Subject Nuclear Power Plant," thxough the year of ear-liest estimated 'ompletion of Unit 3. Provide a detailed explanation of the assumptions upon which the "Sources of Funds" statement is based.

These assumptions include, but are not necessarily limited to, (a) rate of return on avexage common dtock equity; (b) preferred stock dividend rate; (c) growth rate in Dfkl sales, revenues, expenses, interest charges and net income; (d) common stock price/earnings ratio or the market/book ratio; with respect'o the projected common stock offerings; (e) common stock dividend payout ratio; (f) target capital structure; (g) resultant SEC and indenture interest coverages over the period of construction; and (h) long-term and short-term debt interest rates.

RESPONSE TO XTEi1 5 See "Attachment for Item No. 5" on page 3. A power supply cooperative is essentially lOO% debt financed. AEPCO borrows through the Rural Electrification Administration Program, receiving its funds from RHA or through REA's guaranteed loan program.

ATTACEKNT FOR ITEM NO. 5 Applicant: AEPCO Nuclear Plant: PWi.'GS Sources of Funds for S stem-Ride Construction Ex enditures Durin Period of Construction of Sub ect Nuclear Pover Plant (millions of dollars)

Construction Years of Sub 'ect Nuclear Porkier Plant Security issues and other funds .

1976 - 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 Common stock Preferred stock Long-term debt 79.37 81.57 46.07 15.16 1.39 4.04 5.16 5.25 5.36 .56 Notes payable

. Contributions from parent-net Other funds TOTAL 79.37 81.57 46.'07 15.16 1.39 4.04 5.16 5.25 5.36 .56 internal funds Net income Less:

preferred dividends common dividends Retained earnings Deferred taxes 1nvest. tax cred.-deferred Depreciation and a mort.

Less: ABC TOTAL 0 0 0 G.. 0 0 0 0 0 0 0 TOTAL FUii,DS S 79.37 81.57 46.07 15.16 1.39 4.04 5.16 5.25 5.36 .56 .11 Construction ex plants enditures<<'uclear power Other 79.34 81.54 46.00 14.71 0 0 0 0 0 Total const. exp's. 79.34 81.54 46.00 14.71 0 0 0 0 0 0 0 Subject nuclear plant .03 .03 ..07 .45 1.39 4.04, 5. 16 5. 25 5. 36 .56 .11 exclusive of AFDC (allomance for funds used during construction)

"Provide copies of the l974 Annual Report to Stockholder's and copies of the prospectus for each of the participants'ost recent security issue.

Provide copies of the preliminary prospectus for any pending security i.,sue. Continue to submit copies of the Annual Report, for each year there-after as required by l0 CPR 50.7l. (b)."

RESPONSE TO ITEtf 6 974 Annual Report. (See pages 5-li)

Fonoo otpprovrd CORPORATE Ning USDA RKA O>III ov>>. 4O.RO$ 66 Ant ZONA I Ll IIC PO>dER COOPKRAf lvt, lHC.

aonao>>gn ogs>aksc>o An I zonh 26 OPEPATiHG REPCRT - FIHA)iCjAj U, 5, DrPARTMENT or AGR>CUI.TURK, I>LA, v*SMLIG~ d>t, o c tolSO MGMT>i tko>NG QE Ci a>DI R 3 I ~

IHITRUC'flOH5 5 v 1 <<It ori iaol >aid >hoer co p irr o/ih>s I rr oo>o*ciadvs oar <<opy u/rsch vhooiraai. pose> bill by >hr 20th o/rsch rooaih /nr >tr, orc.di>g soon>i. For drisitcd Iastrvcfionr. scr R j'ot Itvttcfln IOJ2. (>Isa>sly rcport coast>ic o/Rtot I o rs l2s. Itb. Itr. It i. Itc lt/and I2s Deccnbct >rpoM olio tat(adrs RE>t forro Ith.)

SECTION A. IIALAtICE5HCET A55ETS AND OTtlER DEO IT5 I.IAOILI'flESAND OTHER CREDITS I ~ TOTAL UTII.ITY PLANT IN OCRVICC ~ - -..-

~ RQ4,38 lb. SICMOERSHIPS 2 CONSTRUCTION WORK IH PROGRKSS ...,....., 13,9> 3.1 71 r5 ty, PATRONAGE CAPITAt

3. TOTAL UTILITY PLANT (I C 2)............,....... 35.2)2 rt/6. AR Oo ASSIGNED AND ASSIGHABLC , . .

~ ~~ ~

o rno

4. ACCVN.PROVISION FDXOOtRKCIATIO>tb Ssonr. 5 ~ 34? 844 ' .brntTIRCO T><<5 Vtnn ...,,........,,...,...,,

yo NKT UTILITYPLANT (J 4) ~ ...,.... ,...,... ~, 29>924. 73>,'tt tF RKTIRKD PRIOR YEAfls ....,

0, MOM V'r>LITY PROPERTY NET..., ~~ ~ . ~~~ ~

oh HCT P*TROMAGC CAPITAL ~ ~~, ~ , ~ 1.843 609 01 7, INVEST,IN ASSOC.ORG, PATROMAGECAVITAL 4>3 Ev6 68 tb, OPERATING MARG>MS PRIOR YCARo --- -. I 504. 778. 4; 1 0 IMVCSTMCHTS IH ASSOC,ORG, OTHE>l-3c6.586.00 29, OPERATING MARG>HS CVRREHT YEAR ...,. ~ ~ 50.650.30 0, OTHEtt INVK5TMKMTS....,. ~

hi2>99i'. 0 30 HONOPCRATING S>ARGINSo . 146.42 7.03 1 7 i466,66 3>, OT.ICR MARGINS 6 KOVITICS ~...,....~....,.~ .,

Ia SPKCIAI. FJO>OS It. TOTALOTHER PRDPCRTY d>NVtsy.(6 ihroi)OJ 5!2a906.24 32. TOTAL'MARGINSd Coo>TIES(2& f 27d th>a JI J 535 933.20 ltoCASH GCNCRAL FUNDS ~~~~~~ . ~ . ~ ~ ~ ~ ....,. ~ ~ ~ .,.. ~ 43. )85.26 33. LONG TERM DLDT RCA ..,. ~ ~~~~~ . ~ .. 24. 992.606.37 It, CASH CONSTRUCTION RVMD5 TRUSTCK 212.747.86 34. LONG TERM DKOa (>THER ..... ~...,.........,..

~

78-0q5.50 14, SPovCIAL DEPOSITS .~ - -- ~ ~... r.597.00 35. TOTAI. I.ONG TERM DEUT (JJ t Jg) .....,.....,. . ~ 7 7 'I R7 1$ , TEMPORARY INVESTMENTS ~.......,..... 35. NOTES b ACCOUNT$ PAYAOLL Pr1 7 15, HOTCS ntct>VAOLC HKT ...... 37, DTHE>l cvnncMT 4 AccRUcD LIARILITIEs ... 7 71 I ACCOUNTS RKCCIVADLE NET ... ~ ..... 1-20o 036.>6 34. TOTAL CVRRENTdACCRVED LIAO.(J6 4 JFJ ~ 'I R I RR

40. FUEL 5TOCK 3-324.068.69 39, OCFERRCO CREDITS .....

o>>

~

13 4>ATERIAI.S 0 SVPPLoICS OTHCR .....,....... 2:. 5. 792. 5r> 40 OPERATING RESERVES o .~, -oo 7 RRR to, PRKPAYNCNTS, 1 15.41 4 . 38 ~ I. CONYRIOUTIONS IN AID ot'ONSTRUCTION tl,OTHER CURRKtiT 0 ACCRUED ASSETS ~ ~~~

139,032.82 st. ACCUMULATEDDtp'CnnooD It>CONK TAXCS ...

22 TOTALCVRREHT 4 ACCRUED A51CTS(I2th>u 2l) 5. 261.474. 73 43. T OTAL LIAOILITIKS 4 OTHER CRCD>TS tS. UHHORTaOKVT DISC> 6 EXTRAORD. PROP.LON 225.547.03 (J2 t Js 4 JA rh> ~ 4"

24. GTHKR ocrcnnco DKDIT5, -. 1.282.200,09 For ihc Deer>aber JI rcport. any Msrg>n> to bc assigned should be Isctvdrd t5. TOTA'L ASSETS h OT>f En DEOIT5(s, I I.J2.72.24) 37,2i)6.85>9 RA in tier> 274.

SECTION Bo STATEbIENT OF OPERATIONS YEAR ~ TO DATE THIS ITCH LA\7 YCAR THIS YKAR OUOGET MONTH Ia CLCCTRIC ENERGY RCVKNUCS . ~ ~ ..o-. ~ ....-,.-,.o />941o465.34 10.665.346.8o l e )96.99o.&6

2. INCOME FROM LKAsto PROPERTY NKT ........,....-...

3, OTHKR OPERATING HCVCNUE 6 IHCO'sC ...,., . 13.6"0.27 32,8) 3 3) "2" 7"

~ a TOTALOPER RKVKNUCS 0 PATRONAGE CAPITAL(Ith>r J) 7.966-'.46.65. IQ tin. 160.1 7 I.ND. YD

d. OPERATION EXPCHSC PRODUCTloti 3.427 80'I oGO 4. 76>,!04.07 61 0. T";

d. OPKRAYIOM CXPCNSK OTHER PO'ieCR SUPPLY .... 1 606-330. 6 3.014.,>F37.01 284,1 3

7. OPERATION CXI CHSC - Tnhksk>ssiok .................. 84.934.34 ol 4q4 6r /q7 77 0 Ot ENATION EXPENSE OISTRIOUTIO 4 ~ ~ ~

Sa OPERATION L'XPCMSC COHSUMEH ACCT$ ~ - --o ~ oo 10, OPERATION CXPKN5C SALCS ..., ~ ~ .. ~,

I I, OPERATION CXPENSt ADMINISTRATIVE6 GKNCRAt. 41 8, RED COD. Cln'1 I R ROS nr 12, TOTAL OPERATION CXPCHSE (5 ihni I IJ o.5;.(.ROC. 74 8a3>JO 6 > OQ 1.018.086 68 13.4IAIHTCHAHCC CXPCNSC PRODVCTIOM, ,... ) 3>aa I'da ~ ~9 I?' ..04. 83 24. 623.67 14o MAIHTKHAtICCCXPCHSC TRAHSMISSION --. 42 885 o8 100.533. i2 7.041.08 .

1$ , M*INTCHAtICCCXVCHSE DlrrTRIOVTION ~ ,

10 44AUITKHANCK KXPCHSC GCHKRAI'LANT 3! otoBD.3O 52.13t .05 D rf11.7R 17, TOTAL MAIHTCVANCC FXPKH5C (IJ thru Id) . 2'.Oo296.82 - '32tt.q69".60 34,"-71 CR 13, DEPRECIATION I> AMORTIZATIONCXPKHSE, 669- 720.68 6!8.957.06 10, TAXC5 550 533.74 798.928.'!I vo, INTEREST OM LOMGITCRM OCOT>>~ o. -o ~ >>. -o -o 392,9'!2.42 O'I:.. 447.45 4? 4 10

-t)

~

10 1 INTEREST CHARGKD TO CONSTRUC'TION cn OIT I . ) I 359 lt)7,4+ I I 4 7OP 11 ~ OTHER DEDUCTIOH5 ~ ..

O'll o 62, I cD

12. TOTAL COST OF ELECTRIC SCRV>CC (l2 t l7 ihr 2IJ, /.281.895,01 10.(F:".>)Qv Rl 'I o Ir 23,.OPERATING MARGINS (4 22J, 673 250.60 "0-650.3O f39,704

".17.600.02 >Q >22o '72

14. IMTCRKST INCONC .

2$ . ALLOWAHCK F cn FVHD5 U5KD DUR>NG COHST 1$ . Ofktit NOM OPERATING INCOME HKT,-......,..'.-

i 27,OCHtt>ATION b TRANSMISSION CAPITAL CIIKOITS

"-'7.1 41 455,QQ OTHER CAPITAL CntDITS AHD PAT. DIVIDENDS ~ - >od ~

-Qt-

20. CXTRAOROUIARY ITEMS 29, HET PATRONAGE CAPITAL OR MAIIGIHS (2Jih>o 2$ ) ... 197.()7>.qj ITCH M>I LS/1 Wh ( piiono ate y over J Cktnov ntvtiiut PKR hrh SOLO ..  ! 2.29 te, CI.ECTRIC 0> 15 o06 74, TOTAL OPERATION IOND MA>NTCHANCK PKR hah 5OLo.,...,..o....,...

~

>2 ~ C( 17 7A 32 7'OTAL COST OF ELECTRIC SERVICE atnh>sh SOLD ............................

4 r n Sr VC lgh.....,......,......, .....

CERT I F ICAT I ON IFr hereby certify thai the cntri'es in ih>s trport o tsctadto>g REd Foo> Ith (I/aiyl arc in aecordoner iolih thr aeroun + nd othrr fdords rrfirris tir o(~-~so-stat>ac of ihr <<yiirrt to thr brst nf nur hnoootrddr o d I( f.

of ihe syctrn nnd thai ihr rcport

~3>

f 7~ a l&)~ra > r-aa ~fZc.r I ra'rNH Go>ATU>lt OF GCHKNA MANAGER DATE 5>GHATU>it c'TVILK oF PcnsoN Pntvh;>Inijcitvot>T OAT K Rth FORM '12s RKV IO 7~

c' VSO* A ponte AI onovco OSIIS HO ss neo OPEPATI (G REPORT - AHHUAL 5UPPLEh(EHT honltotts;R DcsICNA cIOV

~S TOI V.S. DersARTMKNT Ot AGRICVLTVRK. RKA, ISASHIHGTGN. O.C sos so ATL"..Otttq 28 IttSTRvcf tostssohmtt ottiiner ond thteo coos ~ s of this Iepott oithtn 70 dot octet ~ the erose <Con L>IDINC ot the year. Fot deteiied 555 ~ tsostf0555 SCe REA Got. IOS42 DECESIDER 31. i9 74 SECTID!l A. VTILtTY PLAHT iTKM 1 nxi.xricc VKGINtirNG AOOtTIONS

'D3VSTiseN nKTIRKMK>>TS AHO TS oxhAHCK DP YKAA 'T/IAtlsi'C RS Ktsp Oi' KAR c~

I. TOtal intangible Piant (301 thru 303) ~ ~ ~ ~ ~ ~ . ~ 0 0 s 0 s 7052.3S

2. Land and Land Rtghte (310) ...". ~ ~ ~ ~ ~ ~ ~ ~ ~ 39950. 46 0 0 0 39950.li6

3. Strvcturcs snd Improven:cnts (311) ....,.... ~ 1536699.27 12270.8li 2051.01 0 1546919.10

4. Boiler plant Equipment f312) .............. li583216. 8 1594.76 0 27111.69 4611923.23

5. Eng's. 8 Engine Driven Gcneratot (313) ...., 0 0 0 0 0

6. Tvrbo Generator Units (314)................ 5308476.47 0 0 530&476.47

7. Accessory Ercctiic Equipment (315)......... li05769.61 0 0 0 li05769.61

8. htiscelisncous Power Plant Equip. (316) ..... 130883.06 0 0 0 130883.06

9. Total Steam Proouction Plant (2 thiu 8)...... s 1200li995.65 13865.60 205 l. 01 27111.69 12043921.93

10. Total tiuciesr (trot!uCt!On Plan! (320 thiu 325). 0 0 0 $ 0 5 55

11. Land and Land Rights (330) ............... 0 0 0 0

12. Slrvctuics and improvements (331).....,..... 0 0 0 0 0

13. Resp~voice. Dsms snd'iysterwsys (332).....,. 0 0 0 0

14. Yfater ithecls Turb. 8 Generators (333)....... 0 0 0 0

15. Accessory Electric Equipment (33I) ....., .. 0 0 0 0 0

16. MisccHsneous Powet Plant Eqitipmen't(335}.. 0 0

17. Roads, ftsiitosds and Dndges (336),........ 0' 0 0 0 0

18. Total Hydro Pioduction Plant (ll th:>>17).... 0 0 0 19, Lard snd Land Rights (340) .......,........ 1/33.79 0 0 1733.79

20. Structures snd lmproveipcnts (3ct)........... 185193.42 0 0 0 185193. li2

21. Fuel Hoidcts. Pro "ucticn 8 Access'rs (3C2'I .. 106073.02 0 125899.04 231972.06

22. Prie:ef'ovets(3C3) .........,..... ~ ~ ~ ~ ~ ~ ~ . li03705 71 0 0 1232927.27 . 1636G37 98

23. Generators (34C).......~.... ~~ ~ ~ .. ~ ~ ~ ~ ~ ~ ~ ~ 55607 78 0 0 636012.56 691620. 34

24. Acccssoiy Electric Equifmmnt (345)......... 88240.G4 0 0 234468.00 322708.64

25. Isisccttanccus powcc plant Equip. (3(6) ..... 13805.l>2 0 0 0 13805. 4~~41 2o. TOtaI Other Pioduction Plant (19 thru 25) .... s 85li359.78 0 s2229'06.87 s 3083666.65

21. Total Pioduction Plant (9e )Oe igp26) ...... 12859355.43 s 13865.'60 2051.01 s2256418.56 s 15127588.58

28. Land snd Land Righta (3$ 0) ............... 100.00 0 0 100.00

29. Structures and ) ntprqvemcntS (3$ 2),.......... 14068.81 0 0 48923.60 62992.41

30. Station Equlpmen't(3$ 3) ................... 2802223.33 1554.33 23929.93 45989.82 2825837.55 31 Towcts and Fix'tures (3$ 4) ~ ~ ~ 5 ~ ~ ~ ~ 103083.38 0 0 103083.38

32. poles snd Fixtures (355) ............. ~ .. ~ . 943470.94 0 0 0 943470.94

33. Overhead Condvctors 8 Devices (356) ....; ~ . 1287809.73 0 0 1287809.73

34. Underground Conduit (357) ................. 0 0 0 0 0

35. Other Transmission Plant (3$ 8 tiuu 3$ 9) ..... 0 0 0

35. Total Transmission Plant (28 thru 35) ....... 7 4 J 9 23.>2 542329 i.01

31. Lsrxs snd Land Rights (360) ..........,.... 0 0

33. Structures sr4 fmprovcmen:s (361).". "..." 0 0 0 0

39. Station Equipnmnt (362) 111323.18 0 0 111323. 18

40. Storage Ostiary Equipircnt (363) ............ 0 0 0

41. Poles, Towers snd Fixtures (364)........... 0 0 0

42. Overhead Conductors 8 Devices (365) ....... 0 0 0 -0

43. Othcc Dlstiibution Plant (356 thru 373)....... 0 0 0 0 0

44. Tatal OiatribuhOn Plant (31 thru 43) ........ s 111323.18 0 111323.18 rS. Land and Land Rights (3$ 9) .......... "" ~ 19046.57 0 0 0 19046.57

46. Structures and fmprovenmntx (390)........... 266669.87 0 266669.87

41. OffiCO Furniture and Equioment (39))........ 49039.39 19030.20 1170.39 0 66899.20 C8. Trsnspoctation Eruipment (392) ............ 28570.22 59118.35 20764.27 0 66924.30 49.5toros Equipment(3)11 """"""""""

Ac. TCOIS, Stscp 4. Garage Fquipment (394).......

2231.li9 lil366. 12 0

12692.94 0

505.70 0

0 2231.li9 53553 36

51. Lsboratqiy Equtfhvdnt (395) .......~....... ~

20545.13 1051.75 0 0 21596.88

52. PqvICr Operated Equiocznt (356)............ 5ri907.17 66399.39 0 0 121306. 5rt S3. CommunicsttOnS Equtpnont (35) ).. 24Z9Z7.79 4076.1G 0 0 252053.95 5(. I tiscetisncous Equipmcnt (35S) 1525.61 0 2212.87

55. Other Tsngibte Piopetty l359) 0 0 0 0 0 ev6, Tots'I General Pisnl (c$ thrv 5$ ) . 731879.36 $ 1G305G.05 s 224li0.3G s 0 s 872495.05

57. Elec. Pisnl in 5ervice ll 927 c35 9 Cc 1 56) ... s 1&SG0366.54 s 17&li75.98 48421.30 $ 2357331.98 s 21341753.20

$ 3. Elec. Plant Purchased or So'rd (102) 0 0 0 0

59. Elec. Plant Leased to Othcis (104) 0 0 0 0

60. EleC. Plan; IteId ICr I uture VSe (105) 0 0. 0 0

61. Completed Construction nol Cisssihed (lbrt).. 2351331.98 0 0 2 51331.98

62. Acquisihon Adiustments (114) 17651.18 0 0 0

63. Other VtilityPlant (118)....~............. ~ 0 0

64. Iiuclear Foci Assemblfes (120.1 thru 120.C) .. 0 6$ . To(xi Vtttity I'Isnt in Sermce ($ 1 tnru64)... s~s& li7~98 I 4&ii21. 30 0 5 213XSI04. 3388

66. construction Ivork in progress (101)......... 12260347.33 0 0 13913 171.li5

61. Totsf Vtihtv Pfsni 6$ i 66t ...........,. $ 22882173.82 (12438823.31 I 4&li21.30 s 0 s 35272575.83 REC Form 12h Rev Crnfc Pose I of 4 popes

eoRRO>>a>> <>essa salsoH COM.

OALAa<CC RKTIAKMKNTS POSi TC ANNUAL ADJUSTMKNTS OALAI<CC

>>TKM AATK DKG<t<N<NG ACCAVALS LFSS i<KT AND TRANS>'CRS KHD OF YKAA OF YCAR SALVACC

<PKACCND e

'e> WIPISSidSn:,~IMb8: iL2.82 $ 277 388.88 s3l5891.07 <7 . 3 537843.29 38560.84 <448.32 (29390.78) 545565.0.

2. Depr. o(NIKE@ PrciR. F<arg2~7IQ8 j 70047.96 0 29390.78 99438.7I

4. Depr. of Otner Prod. Piant(IC8.4) ..., 5322>90. i3 2558. i 0 5550Ii8.8

5. Defv. of Transmission Plant (103.5)... 2.675 677940(>5 1i2257. i 0 771429.3

6. Depi. ot Distnbution Plant (103.6) .... 31775.46 34lIi. 20 0 0 3S189.6

7. Depr. of Glreral Plant (IC8.7) ....... 1 4070.90 4068/i. 83 5798.46 0 228910.2

8. Re\i<errant)Yo<X in Progress (103.8)... 3142. 6I> 0 I>33. 31 0

9. Total oep<.io< Dec. Plant inServ.(1.8). 4 47316.97 0 5324977.8

10. Dep<. of Plant Leased to Otbeis (109) . 0 0 0 0 0

11. Oepr. of Plant Held foi Future Use(110) 0 0 0 0 0

12. Ainou. of Elec. piant in Service (111) . 7052.38 0 0 7052.3

13. Amor t. of Leased Plant (112)........, 0 0 0 0 0

14. Amo<t. of Plant Hetd fo< Future (113) .. 0 0 0 0

15. Arne<I. ot Acquisition Adi. (115) ...... 3976.54 1837.32 0 0 15813.8

16. Depr. C Ac<crt. Other plant(119)...... 0 0 0 0 0

17. Amoil. of lluclear Fuel (120.5)........ .0 0 0

18. Total Prov.for Depr.and Amo<t.(9.17).: sI7(spy~4 8 60~25 .06 s 25 756.83 $ 0 3 5347844. 12 la AMOUNT OF ANNVAI ACCAVALCHAAGCOTO CXPCNSC

21. BOOK COST Ol'ROPKATY RFTIR 23 ~ f SALVAGC MATCAIALS R OM PAOPKdATY AC TIACD 618 957.06 49027.70 24136.20 20, AMOUNT OF AN>>UAI. ACCRUAL Ci<A<IGKO TO 22 RCMOVAI. COST OF PROPKRTY RKTIRCO 24. ACH>WA<. Ai<O RKPLACCMCt<T COST s 1370(.OQ 865.33 0 SEC TlodH C. NONUTILITY P OPERTY BALANCK OCGIN<l <NO AUDIT<Oil 3 AKTIRKllCNTS AD3VSTMKNY BALANCC ITC>l AND TAANSFCRS KNO OF VCAA OF YKAA e, b.

1. Iionutility Property (121) .......... ~ .. $ 0 s 0 s 0 $ 0 s 0

2. Provision for Depr. and Ac<crt. ()22).... s 0 s 0 0 s 0 SECTION O. SU SSTATIOH AHO METERING POINTS'>A'l<C OP<N 6 MAXIMUM OWNKD AllO LOCA'r<O<l kVA MONTH i<AMC Ai<D LOCATION MAXIMUM MONTH

b. OKMANO b. Ie VA OF SUBSTATION CAPACITY kVAOR I<W OF MAX, OF SUBSTATION DCMA<ID OF ><AX.

APACiTY i<VA OA IIKTKRING POINT tl DCMAND OR MCTKRING POINT v N OAkW DtrMANO O 0 ate s e I Duncan Substation

~ 2000 2609 A ril )8Xartchner Substation X 50000 17600 Dcc.

r. are .ie ~poise 12978 June 19. Romen Substat:ion X 3750 272 June

3. Cochise Substatio 50000 35200 June 20.

4. Marana Sub.,tation Es. 15000 9700 Au ust: 21.

s. Ianna~a;ie . P*i~e 62000 S~et . 22.

6. yg>>on~ubstatj,os +00 I I SR C

7. A ac)te Gas TurbineX 37500 3l900 Pcb.

s. Mortenson Substat. X 3000 3343 Se t. 25

9. Net7 That'cher Sub. X 1500 2004 AUD ~ 26.

ID..Redtail Substatio>X 50000 28100 June 27.

11. Dos Condado(Htg. CX 13200 June 28.

)2. Pitca Mine 3750 3S84 Se t. 29.

13. Duval Mine .(t .Pt. X 2380 March

)4. Anaconda East Mt;.Pt X Sept.

is. C rona <S~<e .Pr.. 2 0 32

16. Anaconda Mine K 84000 47840 Nov 33.

Is. 3>ra Pa~neo X 9000 . 6700 June 5'ECTIOH F. OPERATING RATIOS AHO AVERAGES SECTION E. OPERATIOH AHD hlAIHTENANCE COSTS (Use REA Form 12a io Campvle This Dain)

NU'MOCR Aver>AGK No. AVKAAGKCOST PC>l IIATIO OA OF OF HiLKS ITCH MILC OA PKA kVA AVCAAGC STA OF LINC OR T IONS IN 'kVA IN SKRV<CK SCAViCC A IN ~ E Current Assets to Current Liabihties ............. 0.50 b.

OPC RATION 8,

NANCC

d. Margin 2nd Fquibes to Tout Assets Long Term Debt to fiat Uulity Plant..............

O.OI 0.84 l

1. Trns. Lines (a) 115 kv 205.72 17.64 77.32 Depr. and Amort. Reservesto'UtilityP>antinSeiv.... 0.25 (b) . kv Oper. and htaint. Cost Per $ 1000 Util. Pit. in Serv.. 407.59

< i Ir Total Cost oi Serv. Per $ 1CCD Ulil. Pll. in Se<v.... 499.43 id} so Total Oper. Income Pcr $ 1000 Ut<l, Pit. In Serv.... 501.80 Powei Expense as Kr of Total cost of Scrvicc...... 7I (f) To'isl........ 205.72 17. 4 77.32 TranS. andD>St. EXpen>eaaesolTOtaICOStOI SeiV...

2. Dlstiibu. L>nes 10 Adn in. and Gen. Expense as re of Tout Gest of Serv... 4.6

3. Substations .... 11 Depi., Taxes,lnt.g,otherastebofTota>CostcfSeiv... 18.4 (a) Step up at Gen- 12 Opeiating Inco...e as 'a of Total Cost ot Seiv.

erating Pits... 1377500 13 Aveiage )avast<rent Per Employee ......,......... 326.74 (b) Tiansraission.. 125,000 14. Timdes tntcrcst Earned Ratio (Tier).

(c) Diatribulion... 1~0, Debt Service Coveiage (OSC) .................... ~27 (d) Totalta>b>c). ~ 3 l6 General funds aseaof Tot I tiiit p>ln 0.29 REA Fesm 12k RKV. >0.74 'lf oddilienal space 'is needed, a<loch sepaiaie sheet. Pose 2 ef 4 pe> ~ e

OOIIIIOn uir OCOIGHAVIDN OPERATING REPORT - ANNUAL SUPPLFh'IENT Continued Arizona 28 YEAR EHDltiG 12/31/ 74 SECTIOH G. CASH AND INVESTMQHTS FORM OR TYPE Of INVCSTMCNT MATURITY RI'.A USC CVRRCNT DALANCC NAME OV ORGANIZATION, INSTITUTION OR OLPOSI TORY OATC ONLY 4 b. 4, d.

I. InvesL m Assocmtedorganuations I'stionsge Capital(123.1)

Suloh~ea ninon Ialle Slee. Coo Patronage Ca i.t:nl s 2 383.88 (b) Nntional Rural VtiliLics Finance o Ioeeonnl~ooa leal 4l 455.00 lc)

2. InvestmentinAssocia'tedorganitationsZtner(123.224123.23)

'(s) NR CA A/C 1232 Men>her shi 10.00 (b) Sulphur Springs Valle Elec A Cl? 32 Membcrsh 1 5.00 (c) Cl'C A C 123.22 Cn ital Term Certificate. 387 573.00 (di CFC A C 123.23 Mcclbershi 1 000.00

3. Other Invesbcents (124)

(a) First National Bank of Arizona Time Certificate '/7/75 60 000.00 (bl ort >western Mutua Li e lns. Co. Cash Value-Mgr s Life ln 2 992.70 (c)

(d)

(e)

(8)

4. SpeCial Funda (123 thru 128)

(a) lIRECA Deferred Ccxn ensnntion 17 486.66 (b)

S. Cash. Ger erst in sli Depositories snd Trmking Funds (a) Specify no.-.JHioIDeposnories 1 (131.1+133) "43 785.26

6. Cash-Construction Fhmd-Trustee (131.2) 212 747.86

y. special Deposits (134)

(s) Sce attached brcalcdown 4 597.00 (b)

8. Temporary Invesb.ants (135)

(s)

(b)

(c) 0 ld)

(e) E (gl 9, Total (Sum of 1 thru &) 774,036.36 SECTION N. COM)l IT>SENTS TO ASSOCIATED ORGANIZATIONS IIATURC OV COMhl>TMENT RCA Ust DALANCC OV COMMITMCNT NAME OV ORCANIZATIOH ONLY COMMI TM CH T NEXT YEAR 4 b. 4, d.

I".Intionnl Rural Vtilities Pinancc Coo Ca ital Term Certifi aLrns 812 SECTION J. t>OTES AHD ACCOUHTS RECEIVABLE ITCH OALAHCC AMCUNT ENO OF YCAR PAST OUE

1. Notes Reeeivabie (141)

(S) FrOm EmpiOyeeS ..... ~ ~ ~~ 3 0 s 0 (b) From Directors 0 0 (c) From Others 0 0

2. Customer hecormtS Receivable-Electric (142.1). 1 204 431.87 0

3. Other Accounts Receivable (142.2 and 143).

(a) From Eoetoyces. 1 604.29 0 (b) From Directors 0 0 (c) From Contractors.. e ~ 0 (d) From Others 0

4. Aceurcuiatcd Provision Ior Uncoiiectsbie Aeceivables (144-144.3).. 0 S. tiet Receivsbfes (I plus 2 pius 3 minus 4). 31 206 036.16 SECTION K. PREPAYMEHTS, ACCRUED ASS -TS DEFERRED DEttITS ITCH DAI.ANCE DALANCC ENO OF YCAR END OF YEAR I, Prepaid insurance (163.1).................... ~ . ~343 711.38 6 Unsmortiscd Loan Cxpense (181) s 0 2, Other Prepsyments (169.2) ..................... 71 703.00 7. Fxtraordinary Prop. Losses (182) ..... 225 547.03 Total Prepsyments (I > 2) 115 I 414. 38 8. Preiiminary Survey 8 Invest. Charges (183) 0

4. Interest and Oiwdends Receivable (17 I) ......... 0 9. Other Deterred Debits (184 > 186) . 1 282 200.09

s. other ccrrcnt 8 Acnued Asseis (l)2> I)4 139,032 '2 10. Toter Sumo(l tnru9),........ 1 762 194.32 REA FOhe I2& RCV, IOTl Poe ~ 3 or 4 roses

OOPRDWCR OCSIOHATIDH OPERATIHG REPORT A)INUAL SUPPLER(E)(T Continued YEAR El(DING 12y3)I7.

Arizona 28 I SECTIOII L. PROFESSIONAL SERVICE PAYMENTS AMOUNT PAID NAME AND ADOAESS REA VSE TvpK oy szflvlcE ONLY (Snow amount only (include P.O. Ifo>4 Srteet >>(ddre> ~ Ot kore( Poule, City, Srat ~ ra ZIP Cod>I II Il ercred> SIOOI c

SEE 'EPACT)(ED SECTION M. MATERIAL AtiD SUPPLIES INVENTORY OALAHCK PURCHASCD 4> QALANCK CHD ITEM YEAR FIRST'F SAI.VACCD USED 5 SOI.D Of VEAA 4 I d

1. Coal s 0 0 s 0 s 0

2. O>dter Fuel .. 882769.6 4924994.3 2483695.3 33 $4408.

3, PIOduction Plant Pa(Is aei Supplies 328887.9 118486.9 231582.33 215792.5

4. Station Trans(o(CU(s and Equ((537ent 0 0 0 0 S. Une IaateliatS and SupplieS 0 0 0 0

6. Other lister tais ael Supplies. 0 0 0 0

7. Total Sum or I thru 6 921165~7.59 55>>3181.3'2715277.69 05398 1.2 SECTION N. LONG TE RM DEBT OTHER PAYCE FOAM OR TYPF DATF Of DATE Of OUTSTANDING ILI~ ( Separa(elt Sy Payee' OF ISSUE ISSU E MA TV Al TV EHD OF'CAR Ev c~ d.

~ Breeder Reactor Cor oration 6-28-72 2-31-81 s 78094.80 S. Total (Suan ot I thru 4) s 78094.80 SECTION P. TAXES SECTIOH Q. EST'D. FUNDS INVESTED IN PLT. DURIHG YEAR

1. Property Tax by States 1. Additions to Plant (Sec. A., It(ra 67, Col. b) .. ~ f12438823. 31 (a) s 743752.45 2. Less:

(b) (a) REA Loan Funds Expended............. 5247117.85 (c) (b) Other Loan Fuels Expended ............ 5896816.14

2. Gross Receipts Tax by States (c) Cont>)buttons in Aid ol Construction......

(5) ",20888.47 (d) salvaged)Sate(lais (sec. B, It(ra 23)...... 8000.00 (b)

(c) (e) Subtotal a thru d sll151933.99

3. Paytoll and Other Taxes 34287.19

4. Total Taxes(vurncl)42 t 3) s 798928.11 3. O>Per Funds Invested in Plant (I minus 2e)... s 1286889.32 SECTION R. CONTINUIHG PROPERTY RECORD

• nc cf R s MAIHTAIHKDoH

• GURRCH T DA5(5t +YES fgt(O IIIIVO> captain rnetnod u>ed In compo(In>f co>t or tettlement>I SECTIOH S. ANNUAL MEETING DATA I, OATC Ol',A55 ANNUALMCCTIN 5, NVMDCA OF CLICIOLC VOTCAS 5, WAS OVORUM PAI'SKHTt 4, tlUMocn voTING ov pfloxv 0/t MA(I PJ YES LS HO March 15 1974 0 5, NVMOCA PACSCtlT IH VCRSOtl 4, APPADXIM*TC COST Ol'AST 5. DA Tc oF NKxT ANNUAL McKTINc ((/er oPPtorrmata dele Ir not 8411 ANNUAL MCCTIHG s $ 160.00 March 21 1975 SECTIOH T. BOARD MEMBER AHD MANAGER DATA I, NUMDCA OF ODAAO MK>AOKR5 2, HUMOCR OF'OAf(0 MKMOCR5 OATCS SCT FOR ACCVLAR OOARO MCFTINCS 5CAVIHG FIRST TCRM 10 HADAL Fourth ()ednesda of each month.

a. AMMU*I, C05T OF OIRCCTORS 5. ANNUAI SALARY Ol'AH*CCR 4, OTHCII COMPCNSATIDH FOR 7, DOCS MAH*CCN HAVC WRI TTC FCCS AHD CXPCtl5CS MANACCII CO'HTRACTt 23 400.00 6 924.67 YES 2( I NO SECTIOII U. MAH HOUR AND PAYROLL STATISTICS I Hue(( ~ Ot t>AI I vl lv>IV>IIS 57 ~ ISIIv>>1(D a'8'I I ~ IS (0<<II>>(I I>>101

~ 0>I ~ 4 AIA'III I ua<< I>ovt5 PCN(o >((la>>t t>vl 102833 I r>>HCI( HH<<MD 596585.'13 I a>a<< I>>ovll ant>lo C>nlr> I 511 .5 ~ ra>IO>>1 CI<<'I>>IVID 32859.47

~ IDI>>1 ua I >4JIS I>OiltO I ' 107952.5 I a'I ~ . II Of n ~ 35530.98 I (Uwat(D>> *n r(a>5 (Ov'N>>(l I>>to> (0<<SIPKI>ov 98,2 I 5 I ~ .>0(1(7>al 7 1<<>u ~ i6 64975.58 SECTION V, LONG TERM LEASES (tf ADDINOIIALSPAE'I IS t(EEDAD, USE SEPAI(ATE SIIEEf.l IC(HIDW au 1(SNKHD ~ Ionnl "nnov M~ Iouo I(tu ~

Hall Ir >Kwl. natl ~ I <>a l>95 ttal

<< av I Ol I($ 50( l>tl 0> rto>> ~ It SEE ATTACi(ED

) ID>at

~ ~ (5>tKI(D ~ >D>(H r a (a<<5 an r>DH M5 o>vl> I *v avtov Clat( Ha\I>x Ha(IQIL onel >i<<(IIS >w(1>rm<<G W>t&v( l>v >>>I(tv 6 r(l>>t I A<<D 5>v>5 0>tr I, Ca>act a<<D Wa> &IVIII'a(I AVD OHKI IDV tut<<t eAXVDV>ra Vul>>out 5<<>IAWV Cou>V>1 tl

~ ~ ~ I(PKI lttu>>l>><<5 Ual(5 n ~ rwo v<<la ~ tlo HIPS>t>>1><<G w10 a(((XIII lltv$ 0> tt<<lwal al tuf (>II OP Dt Ivl 1(5501. v <<lt>rtt 0> I>>of SVC>> l(AS(5 ~ Av( tMIIIDIDH Hl<< H<<(w(O 01 POH 1<<av U v0 r> 5 REA For>a 12k REv lo.ft Pose 4 ol 4 pol ~ I

SECTION L. PROFESSIONAL SERVICE PARENTS Name and Address T c of Service Amount Paid Gentry, McNulty & Borowicc Legal $ 14,222.84 P. 0. Box 87 Bisbee, Arizona 85603 Spiegel 6 McDiarmid Legal 24,653.85 2600 Virginia Avenue, N. W.

Washington, D. C. 20037 Denny Glascock 4 McKim Legal 3,376.70 P. 0. Box 1059 Gallup, Ncw Mexico 87301 Spalsbury and Duffy Audit 1,478.00 Safford, Arizona 85546

5. Engineers Testing Laboratories, Inc. Engineering 24,781.34 423 South Olscn Tucson, Arizona 85719 Don O. Snyder, Ph. D. Geologist 6,532.81 P. 0. Box 14315 Albuquerque, Ncw Mexico 87111

7. Burns & McDonnell Consultants Engineering Engineering 438,304.37 P. O. Box 173 Kansas City 41, Missouri 64141

8. Gates Engineering Company Engineering 23,364.11 1780 South Bellaire, Suite 300 Denver, Colorado 80222

))icks & Ragland Engineering Co,, Inc. Engineering 40,295.22 P. 0. Box 3008 Lubbock, Texas 79410

10. Tippett & Gee Consulting Engineers Engineering 241,451.15

'02 North Willis Street Abilene, Texas 79603 I

. SECTION V. LONG TERM LEASES h

Name of Lessor Rental this ear 1: Arizona State Land Department Land $ '125.00

2. "Arizona State Land Department Land 125.00

(', " 3~ Arizona State Land Department Land 9J227.58 i

I" I

.(

(

~

4. Arizona State Land Dcpartmcnt Land 9,247.58 Arizona State Land Department Land 125.00 t,

6. Southern Pacific Transportation Land 50.00.

$ 18,900.16 10

Year. Hnding 12/31/74 A/C 134 -.SPHCM. DHPOSITS

l. United States Bureau of Reclamation 60.00

-2. 1'aul H. Jones 6 Company, Inc. Insurance 3,602.00

3. City of Safford 10.00

4. Amex'ican Airlines 425.00

5. HcKesson Chemicals 500.00

$ 4,597.00

"Provide for each participant copies of the 1975 1st quarter, 2nd quarter, (and 3rd quarter when available) income and retained earn-ings statements and balance sheet. Provide the same statements for the most recent 12 monts'eriod. Also provide copies of similar statements for the corresponding periods ended in the previous year."

RESPONSE 'fO ITEt1 7 March 31, 1975 Financial Report (See page 13)

June 30, 1975 Financial Report (See page 14)

December 31, 1974 Financial Report (See page 5)

Haxch 31, 1974 Financial Report (See page 15)

June 30, 1974 Financial Report (See page 16) 12

vson ~ ncA FINANCIAL Form dppfoued OK/i oro. 40.40566 CORPORATE NAMC Ar(ixo<1 q~r~Ec'.C t~

oonnov"cn 0'$><co<AT<Go<<gr 1 Fohn Pn~<;n ~o>

OPERATING REPORT V 5 DCPAATMCHT OF AG<i<CULTU<<f, RCA, WASHINGTON, E> C 20150 MCN'tt< ENDING Iy<hfgII 31

~

11 75 INSTRUCTIONS S>boot< odrinot ohd t'I'cc a<<pic< o/<hic repro< onrtudboc r>r opy o/each ubnlceotc goner bitt by <\c 20th o/coch>>on<a /oo <hc, >carding

<non<h, For dc<oiled fn<<r>c<ton>. ccc Reot /futtc<tn t03 2. (Ifon<htr <coon con<lair o/ Re.t Ronne llo, lib, l2c, 12d, p2r, l2/<<nd l24<oereohber repro< oleo tnetudcr Re>....,.>> 26 G )2.286. 24 2$ MEMDC><SHIPS, 25.00 2, cot<STAUct<oil woRK IN pnoche5$ ,........... 8 39) 930,44 22. f ArnoHAGe cnoir*L 5, TDTAL UTILITYPl AHT (t 4 2/........~..... ~ ..... 35.092. 216.68 O ASSIGNED *NO!>os<GHAGLCO>>>>>>>>>>>>>>>>>>, ~, ~ 1 843.609.0).

4. AccUN,PAov<$ <DH Fo'4 Doenec<ATA>M 4 r<nsf<f. >> . 37>>. 574.08 b. ACTIACD TN<$ YEAR ..........,......,............

5, NCT VTILITYI LANT (3 'p ....................... 30. 7 17. 642. 60 Co RETIRED PA<OR YEARS ..., ...

0, NOH'VTIL<TY PAOPL'ATY NKT - - d NKT P*TAGNAcc cAPITAl. 1,843,609. 01 7, INVEST,IN*SSOC,OAC, PAT<lONACKCAPITA<

~ ~~ . ~~ ~~

4>>.312.24 24, OPCAATING WARCINST PRIOR YCARo... ~29 262.'11.

5, IHVCSTMCHTSIN ASSOC.OAG OTHKA ~ ~ ~ ~ 29, OPEAATING MARGINS CVRRKHT YEAR 768. 93) 9, oTHER INYESTMENzs ..........,....,......,........ 62. 992 ~ 70 $ 0, NONOPCAATING MARCINSo , . 1,418 ..7F

<0. SPECIAL Fl<NOS 31,604. 14 5<, OTHCR MARGINS 4 EOUITICS>>>>>> ~

11, TCTALCTHcnvnoPct<TYa lnvtsr.(d fhfo')0) 527.497.08 $ 2, TOTAL'MARCtNSa EQUITIES(2d > 2yd thol <t/P 1>526.541 57 12, CASH CKHKI<AL F VHCS -...,....,....,....., 69 ~ 939 03 $ $ .'LONC TCAM DEUT ACA .....,........,.........,... 25,399 168.19 1$ . CASN CONSTAUCl'ION FUNDS Tt<VSTCC 341. 164.60 $ 4. LGNG TEAM DEUT othcR -.. .,....,-... ~,--

~ ~ 154.392.0

14. st ec<AL oeposits ..............,................. 4 697.00 $$. TOTAL LONG TCRM DCDT (33+ J4),...... 25 553 5 0.2 15, TKMPOAARY INVCSTMCNts,~ >> ~ ~ ... .....,...

~ ss. Mores a Accouhts < AYADt.c ...................,. 12,220,987.1 ld, NOTCS IIECCIVADLC NCT,>> .-.,-,., St OTHEA CURACNT 4 ACCRUCD LIAQILIT<Cd It ACCOUN'fs RKCCIVADLC ~ NKT ...,...,...., 1 OG9. 461. 93 Ss. TOTAL CUAf<KNT4 ACCAUKO LIAD.(Jd > Jy/ ~12.924. 96.

19. f'UEL STOCK ~3 578.24S.16 $ 9. ocf cnneo CAKE irs .........................,....,.. 133.17 1.03

<9, I<ATCRIALS 4 SUPPCICS OTHCfi -. ~ ~ ~ .~ ~ 234 363. 73 40 OPCAATING AC5KRVCS oo>>>>, ~ ~ >>~ ~ 31.60 .14 20, PAKPAYMENTS 171 967.52 41, CONTAIDUt<OHS I<I AID OF CONSTAUCTION 21, DTHKR cvnRKHT 4 AccRUKD A55ETS -- ~ ~

188,933.45 42. ACCUMVLATCDDLFKARED INCOMC TAXCS 22 TOTALCURACNT 4 ACCR<tCD ASSKTS(tither 2(p, . I

~ l T ofAL LIABILITIES4 OTHER Cfieo<TS (t2 6 'IC 6 JS <hon 4 40,169,533.06

24. OTHER OKFCAACD OEDITS.>>>>>>>>>>>>. ~ . ~ . ~ ~ .~... 3 ~ 046,G53.41 ~ For fhc (<rce>ober Jl <coo <, ony <norcfne fo bc of >tgnc<t chootd bc tact<<3rd 25, ToTAl. Assets 4 otnen DEO<rs(s.t(,32.23,24t 40. I 69,533 ~ OG tn t<cll> 274 SECTIOH B. STATEMEHT OF OPERATIOHS YEAR ~ TO u DATE TH<5 ITCH LAST YCAA THIS YCAfi OUOCCT MONTH 1~ clLCCTA<C CNV<<CY RKVCNVVS ...,........., 1 824.624.74 3.297,110.31 4 155 491 II13>699.44 INCOME FROM LEASE>. 8S/< 816.1!68.07 5, OPKAATION EXPENSE PRODUCTION - ~ --.,-..-. -., 631 992.29 1,750>299.30 2 499 380 366> 170. 73

0. OPERATION EXPC<<se - OTHCA POWCA SUPPLY ......... 842<972.61 62,343.44 426,637 153.39 .0 7 OPEAATION KXPCNSK TAAHSM<SS<ot< ~ . ~ -.. .,..., ~ 30. .1 3/> 0 12 095.72

0. OPCAAT<OH CXPKt<se DISTR<GUT<ON ........,.....,....,

9, OPEI<ATION CXI'CNSK CONS<oMCA ACCTS.

10, OPERATIOM EXPCHSK SA<.CS . ~ ~ ~ .-,. -... -. ~~ ~~ ----. ~

I i. ol en*rioH cxpeNSK- Aon<Nisrhntivc a ccheHAE. 123.217.42 147.696.22 143.737 23.577.09

12. TOTAI. OPERATIC>< CXPFNSC (S <hrn tip ).612.400.5S 2.590.474.12 3.'I07.162 555.239.56 1$ . MAIN'fCNANCCEXPCHSK PRODUCTION .....,. 66.552.56 68 980.99 63 25/< 15.375.78 14, MAIHTKN*NCCCXPCNSC TRANSMISSION ....,...,..., ~ ., 15 514.29 19,632.35 32.196 3.768.08 15, MA<ATE<<ANCE KXPZNSK DiSTAIDUTIOH ~ . ~ ~ . ~ >>o. ~ o . ~ - <<>>

1<L MA<t<TCNANCC CXPENSK CCRC<<A<; PLANT ....... 5.605.98 8.665.77 10,003 2.109.95 17, TOTAL MAINTCt<ANCC C 'ENSE (lJ theo ldp 87. G 72.83 97.279.11 105.4.5'3 21.253.81

15. OKPACCIATION 4 AMOATIZATIONCXPENSC, ~ ~ o>> - ~ ~ 158 247.64 150.542.98 249,570 50.657.92

12. TAXES - ~ .~ ~~~ .~~ ~ - ~~ ~ ~ ~ ~ ~. ~ ~~ 1S4,006.65 316 437.21 3E8 209 105.118.18

20. IHTCACST OH LONG,TfRM OCOT,.......,......,.. 105,922.91 132.911.69 llt4. 856 49 216.96 2061 INTCAEST CHAR<<ED To CONSTRUCTION CREDIT I 42.452.28) I 178.030.69 I 177.548 ) I 66.574.8i) tiff>b

--I

~ OTHKA DEDUCTIONS ~ h 4 I ~ (<8 ~ ~ f

22. TOTAL COST OF ELECTRIC SERVICE ()2 > (7<hn< 2(p ~ 2. I 20 67() . 6 L 3.338 458.75 3.996 975 783.83 2.80 2l. OPEAATIHC MARGINS (4 22) 29/6.322.76 13.768.93 167.879 32.335.27 24, INTCAEST INCOME 34.614.71 813. 4 6 740 25, ALLOWAHCC F CR F VND5 U5CO DUA<HC CONST ~ - ~~ ~

25 OTHER NOH OPCRAT<t<G INCOME t<CT ~ , ~~~ ~ - -.

~~~ E31.60 27, CENEAATION 4 TRANSMISSION CAPITAL CAKO<ts --'7.1 OTHER CAPITAL CAKDITS AND PAT. DIVIDENDS 7'3. 36 25 CX'tf<AOROIHAAYITEMS,. ,

~

256 HCT PATAOHACC CA'VITALOR MARGINS (/J

<hen 23) 259 708.05 (10 350.23 174.119 32. 30<) 9(t ITEM MILI.S/towh ( p<iona u<c by boor<<>rcip 20, CC.CCT(BC EHEKOY I<KVCNUK Pf'lt hwh SOLO

'l.7. 43* 20.3 15.30 ll, TOTAl. OPCHATION AND MA<HTENANCC PER EWA SOLD o.o..o ~ .oo ~ ~ ~ ~ o ~ ~ ~ 14. 20 1S.74 10. 8!i f

52. TOTAL Cost oy LCctn<c senv<CC Ptiitwh soLO ..........,.,.......,.....

17 5/I 19.58 14.74 1 HAnr POwyn Colt PFR lwh........ 17 7 CERTIFICA'I(OH 5'r hereby cert(/7 thnt the en<fice (n fh(t frpoft, tn<tudinc REX Form llh (</onyt <<fr (n occofdoncr <u(th thf nero<< I nnd other <ceo>

0/thc nyntrrf n d <hot t)ir fr(>oft rr/(ro fo thr etntu> o/thr >yntr<n to thr brit n/nur hno<u(rdttr ond fir/.

DATE $ <CNATVAC d 'f<TLC OF Penson . Afi Af<<N <<KVOA't Ontf 5 ><A TUAC OF GCNC> A MANAGER HEA F0<<M I2o fteV 10 14

COHfiOPATK 1>A:Ie V5DA AKA Foin st?proved Okk Ii'o 40 k0$ 45 P.f.'zc In Elect'.Eic Pl>tee f'm e-..QKive 'Znc.

OPERATIHG REPORT - FIMCIAL atybayl 'I V, 3 DKPAitr>4ENT OF AQASCUL Une, Rt:4, WASH>SSQtaaa, 0 C 20150

~

MorirH EHDHIG's>>P 30 I9.1 orfsjncl und itrrr topic/ of shia rci I t anclvd'ng oac copy of cue& s Aotriclc poucr ball by ihc 24>sh of cue& atonslL loi ibc vrcedjns IHS'tnlgrtQH5 Sabnu Fora ~ lfo, l?t, 12ci l2d, Ifca l2/and l2siocceraber iepors oho nvonth FL r tfrfsfled lnspnckonr, ccc AEVI livllciln IQJ'2 (Nonsbty rcport con>Inc o/ AEVI

~

laclndrc RErt Fores t?A.J SECTIO>t A. BALAIICE SHEKT ASSETS AHD OTHER DZDITS LIADILITIFSAHD OTHER CREDITS I V ILL lltlLI V L*IIII t It ------ I ~ 0 . 0 25 >IZMQEASHIPS 2, coN5TRvcTIQN sroRlc IN PAGG>izss ........., 8aht>si.rtp -I, 2?, PATAOHACE CAPITAL 3, toTAL UTILITY PI.ANT (I 4 2J.......>>>>. ---, I' ts '.L I> ~ JA1 a A$ 5>GNCO AND ASSIG>IADLC 1.843.609.C1

4. AccuM t Rovis>QN foxonnn cfnrfou at>cfft. -'. ll.>>'G6.55 b. I>ET>ncD Ttsis vcAR ~, ~ ~ ~

s. a -

• 0 I ....................... ~l r " . 4 'I 0 nfl . c RCTIRKD PRIG>t YEARS d Hcr PATIIGHAGK CAPITAL

1. 84:3,609. 01 5, HON UTILITYPAOPKATY HCT, .......,~

T. INYKsr.i>i Assoc.ona~f ATRDNAce GA fir AL 4>>r. 312, 24 25. OPCAATING MARG>NS PRIOR YEAR (306. 59 . 8(i 1 388.588.00 23, OPKRATINC MAAQINS ~ CVAAENT VEARa>>. (4910418.32) 0, N>VZ5TMKNTSINASSOC,GRG, OTtiER 2 992.70 30 NO>iOPZRATING ItARGIN 14 >5>>

0 OTHER INVKSTMEHTS .........,...,.....,.

10, KPEclAt. FJIJI os,,....:--.>>,.;------ 4. 919 i> OTHKA MAAGINS 4 EQVITICS 11, TDTALDTHEA PAGPcRTY & IN~.(d tbr&'IQ) 0, 81 J 32. TOTAI'MAAGIN54KOV>TIKS(2&> Jyd fhsw JIJ 1..060 165.12 12 CASH ~ GCHeftAL FUNDS,...>>.>>.>>,...>>>>>>>>>>>> 262. 802.65 33, LONG TCAM DEIST ACA, 35,428t288.47 13, CASH CONSTRUCTION fUNOS TRUSTEES l.'30. 0?8.1'3 34. LONG TCR>t DEDT OTNEA ...---... ~ --. 3.54>392.04) 4.984.00 is. TOTAI: LONC TEAM DEDT (JJ t 24J, ~ --. 35.582.680.56 15, TEMPORARY INVCSTMKNT5 .... 34, NOTES & ACCOUNTS PAYASLK,.....,.. 5.0'36.182.63 15, NOTES AECCIVAQI.C ~ tiCT,.....,..>>,....>>.>>i>> 3?, OTHK>t CURRENT 4 ACCAVKO LIAD>LIT>td 594. 167. G2 ACCOUNTS Aec IVAQLK NCT -. . ~,--....

~ ~ 998.895.22 35. TOTAL CUARC>IT 4 ACCRUED LIAQ.(Jd a J?).. 5.630.350.25

15. FULL STOCK -. -.. 3.772,362.9>> 33. OEFCARCD CAECITS,.... ~ ..., ....,.,-,.- .... 204 143.1>>

~

13, MA'tERIAL$ & SVPPLICS OTHCR ~ ~ 43- ~ 894 04 40 OPCAATINC RESERVES, 34.919.14

20. PAEPAYMKNTS 135,124> 23 41, CONTA>UUTIONS IN AID OF CONSTNVCTIOH

21. DTHER GUARKHT a ACCRUED A$ $ KT5 ~ . --" 6/> IQ>>/? '?5 42. ACCV>IULATCO OCFCNAED INCOME TAXES ...

22. TOrALCunneNT a ACCnueO ASSerS(lf fhn 2(J 5. (>01. 131.4G 43. TOIAI LIAQILIT>ES 4 OTHKR CRKDITS 2$ . UN>IOAT DCOTOISCs&EXTRAORD,PROP LOS> r 12 88 07 IJ? s JS t JB stsru 4? 42 512.258.21

24. or>izn ozfenneo oeuirs ......................... 5 002 226.70 VFor the (>cccrnbcr Jl report, any rnarssne fo bc ostisncd should be Inc(udcd

25. ToTALAsstrs&orNKRDEAITs/s.ll22.?J.?s) 42 512 ?S8 1.1 ln ltcaa 2yc.

SECTIOII tbs STATKMEIIT OF OPERATIONS TEAR To DATE THIS ITEM t AST YEAR r>IIS veAR DUDCKT IIONTN

1. fLecrlvc Eiiencv ncveNues .......................,......,. 4.361.817.52 5 671.215.91 9.047.075 860.788.39

2. INCOME FRO>l LKAsep PROPEATY t>CT ~ ~ ~ I . -., ~

3, OTHKA OPKAATING AEVKHUK 4 IHGOME , , .., 3.3 9.17

4. TOTALOPEA.f>EVCHUKS&PATRONACKCAPITAL(lthns2) 4.364.968.63 '5.690.?80.60 9 OG5.'354 864. 177 ..S6 S. OPKRATIQN EXPKNSC PRODUCTION -. ~ -.. 1.7l5.605.25 2,681 519./2 5.723 489 322.?13.0>>

0, OPKIIATIOH CXPCNSK OTH'Kit PO>SEH 5VPPI Y , 1..511.703.34 1.534.37S.37 746.189 417.120.62 T OPZRAT>OH CXPEIISK TRAt>SMISSIOH>>.>>>> s ~ 35.722.58 63.174.20 66.353 10. 157. />9

0. OPCAATION CXPtttse OISTRIQUTIO>l,...>>,....>>>>>>.>>>>

9, OPE>tATION EXPEHSC CONSUMCA'AGCTS,

10. OPKAAT>OH CXPCNSf. SALES ~ - -- ~ >>>>s ~ ~ l>> i ~

11 OPKAATION CXPCNSC ADMINISTRATIVE&CCtteftAL ?63 821.38 SM.O(>6->>/0 ?86.98>> >>5 . r <8. ei8

12. TOTAL OPERATION CXPKHSK (5 ihns IIJ .. 3. 526.856. >5 (s. 58 .138.G9 6>. 82 3 . 0 1 79/>> 249 73 13 IIA'INTENANCC EXPENSE PAOQVCTION>> ~ ~ 100. 314. 63 1SS 343.71 1 '3.2 2 >>> IJR . 2 f

I ~ MAINTENA>(cc xPKI>5c TAANsMI$$ IGH ~ i ~ 23.156.23 32. 9'76. 07 76.349 3. 5 '.".. 52 1$ , MAINTENANCE CXPEHSK OISTAIQUTION ...,.,-

15, MAINTEIIANCCCXPE>i. ". CKNERAL PI.AH't ~ ~ ~ <<, 3/4. 514.68 16.?09.93 l >.9SQ 298.81 It, TOTAL MA>Art>sANCK KXPCH5C (IJ Chas I6) i i ii. ~, 158.0"5.54 20>>.S29.71 245. 511 49 S>>61

10. DKPi>KCIATIOH 4 AMORTIZAttON EXPENSE --. s<< 3!G.(26.12 34S 'l l. 8 Is O /n 65. 051. 50 1$ TAXES 3 r04'6v 37 1, 78.f>9 G3') 706 87a696.39 20, INTKACST ON I.ONG tfAM OCDT i I, ... --

~ ~ .s 301.2GG.45 3>>7,060 9 5GQ 58 20.1 Hircnesr cNAAaeo ro cousrnucr>DN cneotr ...;. I I10.886.54 3 219. >>0 1 . t )

21 ~ OTHER DEDUCTIONS >Q. est>G 10 353. %81 15. 01G. 93 TOtAl CO5't OF CI.KCTAIC Senv>CC (l2 t Ir fir~ 2I) ~

>> ~ >>i1(J >D9 44 6. 181L 698. ') 2 8. 626. l'?7 1.070.'81. 72 22,

/191. 500 8l >>9 l. >>18. >>39.l97  ! 06.30>>.163

23. OPERATING MARGINS (4 24, INTCREST IHGOMK .

22),....>>,.>>,.>>....>>.. ~,>>. ~ ..,.,

).91>>.l4 7. >>15. 1>> la'.>>80 0-2S, ALLO'FA)ice F CR FVHD$ Vsto DURI>IQ CONST 25, OTHZA t>OH OPEIIAT INC INCOME HKT ~ ~ ~ ~ - ---. 4,924.83 2?, Getitf>ATION & TAANSMI$5>ON CAPITAI CIICDITS I

2T.I OT>ien CAPITAL CIICDIT5 AHD PAT, DIVIDENDS

~~

"'5. ts>n Q n EXTAAOROINANYI'te>ss 2$ , HET PATIIOHAQK CAFITAL on >>A>ICINS (2J ihns 25J , (313.4L>o.e 7',  !>>/G.870V053 >>51.6 I / (; riG, js?>>'.;(>>

Irtrt MILL$/AwA I pijono usc y ono un r) 1

15. 24 19.88 1? 83 20, ELECTRIC tHCIIGY AcvzHUK pen hwA soLo ..

AWA SOI.O,....>>.....>>,...,....>>...,., 12.86 15 ..aQ 12. S9 31, 'TOTAI. OPERATION AHO MAINTCHANCt PCA A'sh SOLD 16. 61 18.92 1>. 96 32, TOTAL COST OF CLECTAIC SKRvlct PER 13 W R Sr ptn Avb.....,....,

CERT IF IC Jsrl OII E'r hereby cert(fy thol fhe entr(ts (n lh(s trpott, 4c(vd(<<kErt Fores I?A (I/ally) arr In accordoncr so(th thc acri unt nnd oihr r re ords nysfrrs to thr brat nf nur knoso(rdgr br((rf.

af tht sytfrre nnd.that lhr rrpurl rrf(rs'ls lhr ~ tutus of fhc j(17 DA L'IG>>ATVfi h't>TLK OF PKRIOH PAK

(~ .J, ,

AI>>O AKVOAT OATK /

/

4 SICNATVAK OF GKNCRA s>AN ntA Fonu 32 ~ ncv >0 14 14

Fotrn rt prrovcd IIOIDROWCA OCS'ICNATION USDA RCA 0!III I/o. 40 tt0$66 AnioOata 28 ORERATING REPORT - FNAHC(AL IaONrte ENDING Toi V. S. DCPARTMEHT OF AGAICUI.Tune. neA, WASHINGTON, 0, C 20 10 IAARCH 31 IO '"

11151RQC'(loHS ~ Sabaiit original and there cerplct 0/thlc repeal Inrladtng one co I of ca 4 ahotrcatc parrcr bill by tsr 20th of ai'h cionth/Dr lhe p'ccedjng rarnIb. For dna!lcd lniiractranr, acr /lect IIDI(ct(n 106 2. (I'onthty rcport concictc o/REA Fonnc I)a. 12b. 12c'e /Id. I2ce le/ar'6 121.)

SECTION A. BALANCE SHrFT ASSETS AHD OTIIER DEDITS LIABILITIESAND OTHER CREDITS

1. TorAI. UTILIYY PLAitT IH senyiCe ......,... 21,318.02o. 58 26. MCMGEIISHIPS 25.00 2, coNSYAvcrioH woRK IH pHDGAess ....,...,... 7.35'/.9?0.98 17, PATRONAGE CAPITAL

s. TOYAI UTILtry PLANT (I 4 2).....~............ FD.'~el I 38 *' "-- ....----- ~ I;I'83,809.01

4. ACCVM,PROVISION fOtyoveneCIATION 4 ltgtrtt, 4 923,027.4o

s. >>Cr UYILiry PLANr (J-o) .................. . .. ~ ~ 23, 752,919.88 C. RL'TIRCD PRIOR YCAAS ...........................,

8, NON UTlt.lry PRQPEATY NET .....~ . ~

T. INVCST.ItiASSOC.OAG, PATAOHAGCCAPITAL I 8, INVCSTMKNTSIti ASSOC,ORG, OTHER. ~~~ ~~

30 3082. 29. OPCAATING MAAGltis CURRENT YCAAD......., (335 775 04

9. omen HlvfsrMKNTs ................................. 1 633 121.22 30, NONOPKtiA'TING MARCelnse .........,...,...., 485.471 .05

10. SPECIAL trttHDS,.~... ~~~ .. ~~~ ..

I I, YOTALOTHER PROPERTY 4 IHVDTF,(6 thra'10J

~~~~ ~... ~~~~~~ ., ~~

1 956, 14 972.78 81 93,208.37 I. 57 31, OTHER MAtioeIHS 4 CouhrtKS ~ . ~ ~ . ~ ~ ~ ~ ~ ~

32. Torhe IIAncit<s4 eouiries(26 i 27d ~-- ~~~ ~

61) 190797 1 1 2

12. CASH f GEHCAAL UHDS ~ ~ ~ ----. --- . ~~~ ~~ .~ 33, Lone TERM oenT REA ...,,...,..... 21, /487685.f34 13, CASH CONSTRUCTION FUNDS TAUSTEC 071 80 . 2 89 282.00

14. SPCCIAL DEPOSITS ~ ., 4 7* ~ rer er-'-- ...>> I 8 7 7 a ls, TEMPORARY INVESTMENTS ...,......., SS, IIOTKS 4 ACCOUNTS PAYAGLK,......,... I~3~1/h 9?

16. ttores AKCFIVAOLE HET . ~ --.... ~ .~....,...,...

IT ACCouttTS AKCCIVADI.C ttCT ...~ ~ ~ . ~ .. ~, 654 4i40.27 38 TOTAL CURRENT 4ACCAUCD LIAO (36 4 37)-.- 8 250 (12. 1 7 18, I'UKL STOCK 859 889.98 39. oeFCAReo cneotrs ...................................

19. MATCIIIALSd SVPPLICS OTIIKA ~~ --. - e-. 181 I301.64 40 OPERATING ACSKAVCS ~ ~ ~ 14,972.78 20, PREPAYtiENTS 119 028,20 41, CONYRIDUTIONS IN Alo OF CoteSTIIVCTION 21 OTHKA CURRENT 4 ACCRVCO ASSETS ~ ~ ~ ~ ~

58> 2o4.70 42. ACCvilULATCD Oef CARGO PICOME TAXFS 22, YOTAI CUftRCNT d ACCRVCO A%SETS(12thia2)J 3 042,577.38 TOTAL LIADILIYICSANO OYHKII CAKDiTS 2'3.VNIIrOrlt.OCDT Dt eC' CXYRAOR'D PROP, LOSS'4,

?45, 285.4 f (324 JS 4 38 th 842)"""""'""""""""'""""'97 1821770 41 OTHKA UCFKHRCO OKDITS ............. l85. 170. 11 eFor the

Dearrnbcr31.rcpoa,

any rnrvglnc to be oectgncd choald be lnetadcd

23. 'FOTAI. ASSETS 4 OY Hen CeviTSIS,11.22,23.241 29 182,770.4> ln Rcrn 27a.

-SECTION B. STATEIhtttT OF OPERATIONS Y OAR TO 'ttlKE T His IYKMS LAST YEAR . THIS YGAA VVDGCT MONYII

1. CLF CTAIC L'tteAGY AEVCNUCS ....'-,. ..- ... -...-.~ ~~~ 958 293.87 '1.824 824. 74 882 810.50

2. INCotle FAoil LCASCD PROPEIITY NET ...,... --, .<< ee S. OTHCA OPCttATING ACVEHVK 4 ltiCOMC ... . ~ 7 080.87 1 729

4. TOTAI.OPCA,RKYKHVCS4 PATAOHAGKCAPtTAL(1thn3J 1 985.374-74 1 82": 35

s. ot EAATtoH expense- I nooucrtott ....................... 185 805.37 GR1  ? 7 1 6 OPERATION KXPCNSC ~ O'YIICR Pollen SUPPLY,-. ~- 109.56 4,gh7; 1 7, OPKltATIOII CXPENSE TAANSMISSIotl ...................... 7 " 00 4 1F.?

8; OPKIIATIDN CXPENSC D)STRIDVTION 9, OPERATION EXPENSE ~ CONSUMER ACCTS..

10, OPERATION CXPCHSE SAI CS ,.-, ~ ~ .., -. I- ~ ... ~ ~,

'll OPERATION EXPENSE ADMINISTRATIVE4GCNCRAL 89. 258 78 ~ 123 23 7,4? 0 7 12 TOTAL OPCAATIOtt EXPENSE (6 thea 11) 1"309 5?0.57 1.'612~400, 55 R58 17 5 ts. MAtNTCHANCC EXPENSE PAOOVCTIOtl 3? BO7.19 lg, MAINTENANCE KXPCNSE TAANSMISSION --- ~~~~~~ - ~ 17 378.20 15 514.29

18. MAINTCNAtiCCEXPetiSK OISTRIUVTION ~ . i .-

ts. MAINTENANCE EXPENSE GCHCRAL PLAtiT .--. - . ~~

tg TOTAL MAIHTCNANCK EXPENSE (13 lhea 16J ~ - - --

~ \,58 7  ? .R ea 10, DEPRECIATION d AMOATIXAYIONEXPENSE .,...,., 4,A4

19. TAXES ~ l~ ~0 164 la 1 20, HITCAEST ott I.OHC TEAM OEOT,.................,..... gh4 7 1 a ~ear RO

21. OTHCA DCOUCTIOHS . r 4i4.878.31 17 978,91 TorAL cosy oy KLecrntc scnvice (124 )7thaa 211

'754 888.03 2. 163 128 89 73 17 7 23, OPERATING MAAGIHS (J'2J .....,..~...,.,....... 210 488.71 f338. 775.04'1 (-Rl

24. IHTCAEST iticoiME 15 380.40 34,614 71, 13 ." 85 2S. ALLotrANCC FORI FUNDS VSEO OuniHG CONST........ 42 452.28 15 tn.~

26. Omen Hoii oPCRATitio i~coMe- Ner .....................

27, GCHF AATION ii TAAtisMISSIOH CAPITAL CRCDITS ~ . ~ wicks/rhe 28, EXTRAORDINARY ITEMS .

29. NKT PATAONAGC CAPITAL On MARGINS (23ihra 28) 2253869.11 (259, 708.05) (407139.27) irens Ntl LS/h wh (I)eat/anat aie by bona area)

$ 0, KLKCTAtc ENERGY RKVCHU'C PCA hWh SOLO ~ - ~~~~ - -.e. -.I ee eee .

~ ~~~ ~~ ~~~~~~~~ .~ 9,04 8 78 Sle 'For hi OPCIIATION A'NO MAINTKHAHCKPCA CHh SOLO ~ ee ~~ ~ I ~ ~ ~~ ee ee 7 57 22, TOTAL COST OF KI.CCYAIC SCRVICC PCR b3th SOLO ..........,I..e...,.......... 10 71 9 Bo I'!

heicby cerrbiy Chnt the elatrxes 'n this zepc=e agtt n aL /'.tn)- ac:ovnts Dn other Me records ol t.he ..Ystem nnd that. the repot!t belief.

t! r reilects'tsc < cf. tf;c s o.'.em

~

o tt'.e. best cf our vwledge2 aitd

~~/~~~j~~ADare~o)r Bookkeeper

~P ~

0 nefal ra.

afanage

~~z/70ar.a~a~

15

anas<<nv I For>> Approved 90" eo 0411CHAe ION VSOA RE ~ OUR (fn. (G.ft6$ 66 ft ia a ZO<IA 28 ovmATwG nWOn- FiWHC!AL SIVNTh Fr<DIHG Tos U 5. DCPARTMC<IT Op ACRICULTVML.Rt:A. W*SHIMC ro!i. D. C. 20210 !1'ei <C 19 74 tHSTAVCTIOH5 Svbenfc oifsinef ord chirr copies o/ <Aas irenic f net!adi ae onc copy o/ cash <Ahnfrsatc p<<!Urer bcff by chc 20<A o( cash innn<A )or chr prcerdins saon<A. For <<fecaffcd fnscrvccfons. sec Rf et 11 effrrfn fdd 2. (ffonchfy rcpcis con sfsci o(RA'A< Foims fya, 1)b, ftr. )2J. fyr. 12/ ond 12S)

SEC'(10H Ao SALAtlCE 5HLET ASSETS Atto OTIIER DEGITS LIASILITIESAHD OTHER CRS'CITS 1'1 la<<ala 1

• 1 1 1<< --.... 9! 303.<<90.5! td. MEMCKAt<<IfS . 25."0

e. o 1 o e ............ 9 . 9 ! 9 ., Uo ! . a 27. PATI<OHAGC CAPITAt.

3. TOTAL VTILITYPLANT fl 9 21<<<<<<<<<<<<<<<<<<<<91 ' I <1t,GA a. ASSIGNED At<0 ASSIGNAGLCa...,...<<..<<...,.<<.,  !, 84 3.

609.0'.

n, AccUM.PttovtstcN FGAR3GGRCGIATI'oN 6 Aata<y rs O~Fj 5321 78 b RETIRED THIS YCAA . ~ ~ ~ ~ <<o. ~ ~~

<<1

~~~~~

9, NcT UTILITY PLANT (3 a) ...,.,.., 26  ! 09 669.90 RETIRED PAIOR YCARS,...<<<<,....<<.. ... ., ~ ~

d, NOH UTI(.ITY PROPERTY ~ NKT.~ .. ~ -.. ~ ~ ~ a<< d NCT PATRONAGE CAPITAL - ~~~~ . ~~~~ ~~ .:,-:. 1.843,60!9 01

'y. IMVCST.IN ASSOC.OAG. PATAONAGCCAPITAL 641 57 . OPCRATS<<>>S 9<AntGINS PRIOR TEARA...,... << t 094.102 dt 9, M<VESTMENTS IH ASSOC,OAG OTittR. ~~ ~ . ~ <<308. 002.00 29. OPERATING MARGINS CURRENT YCAA'...,..<<  ! 3<02, 30 71 35 9, DTHKR INvcsTMENTs 3o5. 038 64 30. HONOVEAA'TING MARCIHSU <<.1<<, , 5?6,20> ./:.

10. SPECIAL FtIMDS ~ ~ ~ 15 <1'?7 29 31, OT<ICA MAAGINS d CQUITIES .....~ ~ ~, ~ ~ . ~, ~ ..

I I, TOTAL OTHCR PAOPPATY DIN<<CDT (6 chr>>'20)  ! <<300 )33<1 .44 32. TOTAl'ARGINS'QVITICS(269,21d Phccc 31) 1 a 225. 269<.20 5 740.14 33. I OHG TCRM DEUT 'KA ~ ~ ~ <<<<<<o. ~ 22. 093. 4" 2

13. CASAH CONSTRUCTION FUNDS TRUSTEE~ rs)'! <<37.45 31, LONG'TERM DCDT OTIidR ,., ~...;, ,, 019.252 00

$ $ . 'TOTAL LONG TERM DCG't (33 9 3d) <<<<..... ~ .,. 22.982~7<>>

19, TEI<POAARY INVCSTMEIITS ,. ~ ~ ...... ~~ 3d. NOTES d ACCOUNTS PAYAD'LK .......,......, 7 47M O?0 td NOTES AKCCIVAGLC NKT e. ~ ~ . ~ - ~~~ o 1 $ 7, OTHER CURRCMT 0 ACC tUKD LIARILITIKS.... )92.441.8' 1.*a le 0 - a ...................~ten aaaa 39. TOTAI. CVRRZNT d ACCRUED LIAG.(36 V 371  ??n.r12 02 ee'9

'ID. FVKI STOCK 1 1'7 DEFKARCD CREDITS ~~~~. - <<<<<<.e<< - 1 <<1<< "-

19 HATERIAt,S d SUPPLIES OTHER ....,.. ..-

~ -- I ('7 <0 OPERATIHG AESEIIVKS oe ~ oa 15 <97~ 2 s

20. PRKPAYMENTS nt, CONTRIGUTIOHS IN AID OF COHITAVCTION

21. OTHEtt CURRENT 0 ACCItUKD ASSETS' ~ -- ~

14(1 104 n2." ACCV M V LATED DEFERRED INCOME iAXES

22. TQTAI c<IRRKNT d Accttvto AkscTs((2<hie<<2)) ~3 TOTAl. LIABILITIESAMD DTNKA CRKDITS 23.VMAstsrty.OKDTOi,Cf DKXTAAOAD PROP, LOSS 238. 705 99 (32 9 3S 9 33 chen 421,.<<......<<<<.<<..<<<<<<..<<,.<<..., C<<4 4 i), utj dd. oTHCR UEFKI<ACD DEGITS ......................... 270, 132.! 2 eb'or the Deebcaber3f rcport,any ovvsfns co bc ossfpned shonfd be fncfvtfcd.

ITEMS 'AST cs. ToTAL AssKTsd OTHER DCGITs(3.1(.32.23.2c)

I, ELECTRIC CNEAGY AEVCHIIKS-......,.....,...,...,....,.<< .,

<<21 1NCOHK FROM LEASED PROPERTY HET ~ ~ oo 31 994 4 12 60 a<<oo, e

SECT(otf (5. STATfhtftfT OF OPCRATIOMS 3,634.105.?7 YCAII fn free< 27a.

YEAR

~

~ TD T<cls YEAR 4,Ã>1.81 i 52

'&Ti-.

, .)I ".'.w.

GVDCKT i a<ron oa <<e I .092.

THIS HONTH

<<I I SO .57 3, OTHKA OPCRATIHC AFVEHUK fi INCOME ~ i~ - eo eoo eoi 10. 600,07 3 <51, I'I 42 5(1

d. TOTALOPKA.REVENUES d PATAONACKCAPITAL(19tH<3) 3<644 79."s. 34 << . '4<s)0'/.r'r"i,

'. 715.605

~

9 OPERATION EXPENSE PAODUCTION ~ ~ ~ ~~~  !,96! .244.94 25 4 Ish

0. OPERATION EXPENSE OTNEA POWER SUPPLY ~e~ ~ !43.901.72:I 51; 703',34 rsO> '= 5sd 7, OPERATION CXPEHSE TRANSMISSION,',....<<...,.<<<<...., 55 385.1S 35. 722 .50 ~ ~ '7 ?cd . '76 ~ )9 0 OPERATION EXPI'NSK OISTRIGUTIOM ~ ~ ~ ~

9 OPERATIOsf EXPEHSE CONSVMCA ACCTS ~ ~ ~ .. ~

10 OPKRATIOH EXPENSE SALES o ~ ~ a ~

11, OPEAATIOH EXPCHSC AOMINISTA*TIVCDGENKRAL 1A A 19 Ct oct roe lo

12. TOTAL OPERATIOM FXPCNSK IS CArn ff) <<...<<...<<...<<.. 4(t 7Q4. 7 RR Rr "7Q. RAX . "14 13, ICAVITKMANCCCXPKtISE PRODUCTION ........,...., 62. 741.3: !CO 354.63 9. 40.s ~

11. MAINTEMAt<CE KXPKNSK

10. MAIMTENANCC EXPENSE

10. HAIHTCMAHCC CXPENSK TRANSMISSION ~

OISTAIGUTION ~

CENEAAL PLANT ,...,

17. TOTAI. MAINTCNANCK CXPKHSC (13 Chr<a 16) <<<<.<<i.<<e.

.1 ~~ 32.366.89 lD.097.86 113.206.06

'4 23,156.23 i59 Oi

'I 5'4 68 SS .A ~ 1. 7'1 33 '2,962.

10 OCPRKCIATIOM d AMORTIZATIONCXPK ISC o ~ ~ 793 7CC

'19 TANKS ~ 3'5 123165 306 26 57 ai ~Q.I' 20, INTCIIKST OM LONC TERS< DEGT oe<<o 1 1 ~~ <<.Ao ~ 1 0 IA OT<< '1 IR" Ce OTHER DEDUCTIONS o<< <<1 <<o ea <<~ %4 '. C 21 ~ ~ ~ ~ ~ ~ ~ 'Ca'7'2 TOTAL COST Of KLKCTAtc SERVICE 1'12917th< 21! 3,238,164.70 4 667.355.98 g.so. 815 U29 2'3. OPERATINC HAIIGINS (d'21 ,...,........... ., 406.o28.o4 1302.987.35 1.32 2" i 'll'0 2 ~ . INTEREST It<CONC 39,959 72 '7,9<<<to t4 293 crp 29, ALL<IWANCC FOR<< FUNDS USED DURING CONST ~ ~,. 110.88o.ra4 23, 742.53 2d. OTHKA HOM OPCAATING IMCOHK NCT,...,....<<...,.....,

27, CKNCIIATION d TAANSMISSIOtl CAI'ITALCREDITS

20. KXTAAO'ROINARYITKMS

29. NKT PATROMACC CAPITAl. OA MARCIMS (23<he<a 231 << 446,598.36 (!!3,596.67 166."-07 90 9<TCMS Mtt.t.s/Awh (Op<tonal nse by doi loMee)

$ 0, CLKCTtttC EHCAGT AEVCNUK PEA AWA SOI.D 10.06 St ~ TOTAL OPEAATION ANO MAINTENANCE PCA AWA SOLD,.<<<<<<<<<<..<<<< 0. r>0 32, 'TOTAL COST OF CLCCTAIC SERVICE PCM kWA SOLD e<<o ~ ~ << <0. ?o 10 <<32 CR HA 4 SoowdR OST PCA kWA, i .'.)U ve hereby cert,kiy thdc tl = entxkefK tn Thks repc":.'rf'ri recordc of the systetd Rod thet

~

the zepott reflects der; rdntt-.c r'. -:;KRFU. Of t!t;".thyGter<<the t'oUctcutttz the best. o! cur end oth<t Aplgt/Urn s o owiedge ftnd !>el icf, SKD<< eepe 9 ea Z- 2 6 -7/ c'(<>a!

41-.384

"Provide for each participant the most recent Officer's Certificate ox Net Earnings Cerfificate prepared in connection with the issuance of mortgage bonds or debentures and showing interest coverage and debt ratio calculations using the most xestrictive test set forth in the applicable indenture. Provide copies of the indenture. Provide cal-culations of net earnings and interest coverage for the most recent twelve months'eriod using the definitions of net earnings and annual interest requirements (on debt presently outstanding) using the most restrictive test set forth in the mortgage bond indenture. Assuming a range of interest costs conyidered realistic by the utility, state the additional amount of first mortgage bonds which could be issued under the most restrictive test based on net earnings as defined by the indenture for the most recent twelve months'eriod.

If the corporate chaxter contains a preferred stock coverage requirement, provide copies of that protion of the char'ter. Assuming a range of divid-end yields considered realistic by the utility, state the additional amount of preferred stock that could be issued by applying the most xestxictive test for preferred dividend coverage fox the most recent twelve mont1>s'eriod."

RESPONSE TO ITLH 8 N/A (AEPCO is a non-profit cooperative and has no financing t4>rough bonds or debentures.)

"Provide for each participant a detailed explanation of all restrictions ox constraints on the issuance of short and long-term debt, preferred stock, preference stock and common stock. Short-term debt should include bank lines of credit and commercial paper, if any."

RESPONSE TO ITEM 9 AEPCO is an RHA financed cooperative. Long-term loans axe funded by RHA or through REA's guaranteed loan progxam. Short-term financing is currently from the National Rural Utilities Cooperative Finance Corporation, Vashington.

D.C. REA must approve all short-term financing and use of General Funds.

ITE>t 10 "Describe the nature and amount of each participant's most recent rate relief action(s) and its anticipated effect on earnings and on funds available for construction. Provide copies of the rate order and opinion.

In addition, indicate the nature and amount of any pending rate relief action(s). Use the attached form to provide this information."

RESPONSE TO ITEMS 10 AEPCO is a member owned cooperative, therefore a rate increase has no effect on earnings as such, but rather preserves AEPCO's ability to service its debt. A power supply cooperative is .essentially 100% debt financed.

"Attachement for Item No. 10" is on page 20.

Pinancial testimony in the xate relief application of June 12, 1975 is on pages 21 through 51.

The Arizona Corporation Commission Opinion and Order granting rate relief of August 26, 1975 is on pages 52 and 53.

19

ATTACHMENT FOR ITEM NO. 10 RATE DEVEI OPMENTS>>>>

ELECTRIC GRANTED>>

ANNUAL AMOUNT - TEST YEAR BASIS (000'S) $ 856 PERCENT INCREASE 13. g~

EF'FECT IVE DATE 9-1-75 RATF.'f RFTURN ON RATE BASE AUTHOR I ZCD 6.1 RATC OF RETURN ON COMMON EQUITY AUTHOR IZED N/A RcvcNUc EFFECT 000'S)

AMOUNT RECEIVED IN YEAR GRANTED N/A AMOUNT RECEIVED IN SUOSF;QUENT YEAR N/A PCNDING REQUESTS NONE AMOUNT (000'S)

PcRCENT INCREAsc DATF. FILED DATE BY h!H I CH DEC I S ION MUST BE I SSUCD RATC OF RETURN ON RATE BASE REQUESTED RATE Of RCTURN ON COMMON CQU ITY RCQUESTCD

"'PROV I DE COP I CS OF LATEST RATE ORDER ~

"""PROV IDE COP IES OF THE SUBMITTED F INANC IAL TEST IMONY OF'HE STAFF AND COMPANY IN THE LAST RATE RELIEF'CT ION OR PEND lliG RATE RCLICF'EQUEST.

Arizona Electric Power Cooperative, 'fnc.

Benson, Arizona Proposed Rate fncrease June 12, 1975 21

gh'ri.zona Electric Power Cooperative, Xnc., an Arizona Non-Profit Rural Electric Cooperative with its headquarters in F>enson, Arizona proposes" to raise its rates effective as soon as possible.

The proposed rate is as follows:

Demand Charge g3.~>7 per KM/month, plus Enar>~Charge 9,0127 per nfl used during billing p.riod.

Such adjustments shall be made from a base price of one do13.ar and seventy-five cents (91.75) per mill.9.on BTU cost of iuel consumed in the AEPCO generating stations, plus additiona3. fuel ad"'ustments from otnex systems supp3.ying power to AHPCO. Toe total amount calculated and received as fuel adjustment on sales to non-members shall be deducted from the total fuel adjustment costs.

The resultant .net adjustment to AHPCO shall be d:Lvidcd by the total KHH delivered to the members. Tne resulting factor shall be applied/as

,I a charge or credit to the total KUff delivered to the members as fue3. adjustment.

The fuel, adjustment shall be invoiced monthly by methods deter-mined to meet state regulatory and member requirements to the end that fuel adjustments are app3.ied equally to all users and i~ithout margin to AHPCO.

22

DEP'1NXTXONS OP ABBREV'L>VL:fONS AEPCO Arizona Electric Power Cooperative, Xnc.

DVEC Duncan Valley Electric Cooperative, member of AEPCO GCEC Graham County Electric Cooperative, membe- oZ AEPCO

'YiEC 14ohave Electric Coop'ative, member of AHPCO SSVEC Sulphux Springs Valley Electric Corpoxation, member of AI'.PCO

'XEC Trico Electric Cooperative, membex of AEPCO CPC (NRUCPC)'ational Ruxal Utilities Cooperative Pinance Corporation, USBR United States Bureau o Reclamation

ARXZONA ELECTRIC Pot~HR COOPERATXVH, XNC.

SUPPORTING DOCPitENTATXON XN ACCORD

'it:le NXTH GENERAL ORDER U-53 INDEX OP SCHEDULES Schedule No.

A. Sua<~nax Sahec!ules A-l Computation of Xncrease in Gross Revenue Pequixcment:s A-2 Sutnmary Results of Operations A-3 Summary of Capital Structure A-Ii Construct'on Expenditures anti Gross Utility Plant in Service B, Rate Base ScheduXes B-l Sunnnary of O..iginal Cost 3-2 Original Cost Rat:e Base Profoxma Adjustments B-5 Computation of 8'orlcing Capital C. Test Year Xncome Stat:ements C-l Adjusted Test Year Income Statement C-2 Income Statement Proforma Adjustments C-3 Computat:ion of Gross Revenue Conversion Pact:or E. Hinancial Staterents and Statistical Schedule.

H-l Comparative Balance Sheets H-2 Comparative Xncome Statements H-4 Statement of Changes in Patronage Capital H-5 Detail of Utility Plant H-1 Operating Statistics H-G Taxes Charged to Operations H-9 Notes to Pinanciai Statenents s

H. Effect ox Proposed Tariff Schedules l[-3. Summary of Revenues by Cu. Lomer Classification Pxesent and Proposed Rates e h xe;!uest for ttaivex of the omitted Schedules is on file vith the Ax: zona Corporation Commission since the Scheduies do not: appear to be opplicablc t;o AHPCO.

24

f APwXZONA ELECTR'XC PO"'JER COOPERATXVE ~ XNC, Pi<OPOSED RATE LNClKA.HE

, SUPPOaTZma DOCmawx~uTZOH XN ACCOaa MXTII GE~%:BAR ORDER U-53 June 12, 3.975 A. SPi FRIARY SCIIEDULES

i Arizona Hlectr'c PoMez Cooperative, Xnc, 8c'nedule A--1 Pxoposed Rate Xncrease

.une 12, 3.975 Titl.: Computation of 'Xncrease in Geo..s Revenue Requirements Orif'inal Cost".

Ad Iusted Rate Base $ 3!i,287,793.59 (a)

Ad; us ted Op..x a ting Income $ (112,363.0:)j{b)

3. Current Rate ox Return Negative Required Ope=ating Xncome $ 1,~~82,696.72 Required Rate of Return >:~~. 32 /

Operating Xncome Del;i.ciency (~i. 2,) 9:L,595,059.77 Gross Revenue Conversion L'actor 1.00197 (c)

8. .lncxease in Gross Revenu Requixements (6. x 7.) 9 1,.")98,202.04 Cus t(Kiler Projected Revenue / Dollar

'Classification increase 3)ue to Rates Xncxcase H1 ole" a~ e 91,598,202.04 (d) 13,3

.Total 91,598,20?.04 13,3 /

>Re<<u)red Operating Xncome I.es 3let Xnterest 1'.xpense i~ ~856,84~>.68, o-, a Ra;e:.f Retua-,n of 2,'0%

() C-3 (d) P."1 26

Axirona Electric Podex Cooperative, Xnc. Schedule A-2 Re: Pxoposed Rata Xncxeasa "me 12, 19/5 Titl  : Summaxy Results of Opexat.'ions Tuse Yesc Lcdlu~Azil 30 1975 Actual ~Ad uscec>

1. Gross Revenues $ 12>263>464.02 $ 12, 050, 140. 31 Revenue Deductions &

Operating Expanse, 11 300 103.28 12u162 503.36

3. Operating Xncome $ 963,360.74 (112,363.05)

4. Othax Xncome and

'Deductions 106> 363. 04,. 106>363.04 5~ Xntaxest .Expense 6?~5 617.84 6?5~617.84

6. Bet Xncoma 444>105.94 (631, 61/. 85)

Pxio" Years Ending December 'ecember

~31 1974 31 1973

l. Gross Revenues $ 10', /18, 160. 17 $ 7,955,145.61

2. Revenue Deductions &

Operating Expanses ~10 123 721.67 6 888 >>59.98

3. Oper ting income 594,438.50 $ 1,066,685.63 Othex Xnc'-me and Deductlorr'.

146>162,83 117,868.77 1ntexcst Expense 54~3 524.00 392 912.>>2

6. Net 1ncorre $ 197,07/ ~ 33 $ 791> 641. 98 S;rv~por tinp~Scirr;dules:

(a) E-2 (b) 0-1 27

A'rizona 7.'lect ric K'ower Cooperat:ive, Xnc. Schedule A-3 Re: Proposed iRaLe increase Page 1 of 2 I I i 129 Unc l.915 Ti.t:le: Svnunary of. Cap:it:a1 SLzucLuze Test Year at: Prior Year at. Prior Year at I)es cz~it: io1x 12/31/7l! =-

12/31/73 l.. Short: T rm Debt: (a} l.9750 000 00 8,275,000 00 75,000.00

2. 'f.one Term Deb;: (b) 36~055.916.28 25 2 070.701.87 20.i<65. 280 3l Tot:al BebL 37,785,916.28 33,3l!5,701.87 '0.5l!0,280-31 Pat:zonage Cap'.Lal lpl!7, 907. 68 1.535.933.20 1,316,670.15 Tot Q1 CapiLal 39,233,823.96 3l!,881,635.07 23.,856,950.l6 Ca7)it:alir.at ion Rat:io

6. Short: Term DebL' lq.l!6 % 23.72  % 0.3~+ /

Lone Term Debt 91.'85  % 71.87  % 93.63  %

Tot:al DebL 96.31  % 95.59  % 93.97  %

7?atzonage'apital. 3.69  % li,l!1 % 6.03 '/

Total 100.00 100.00  % 100.00 /

%'.30

10. Heijli1.ed Cost: of Sbozt Tenn Debt:  % 7.73  % 8~!

11..

12.

tfeig!'.t:ed Cost: of Xone weighted Coat: of Senior Capit:al

'I',e-..m Debt: 2.0l!

% 2.00

% 2.00  %

e 7) 7)ol: ~::.~

7 A~~

-'1 S,".'Ne(to."a es:

Arizona l'.lectric Power Cooperati've, Inc. Schedule A-3 Re: I'ropo"-'ed Rate 'increase Page 2 oi 2 June 12, 1975 7;;i.tie." Su(unary of Capital SLructure Test Year a,L Prior, Year. at Prior Yea1 ac

~<>~30 75 12 /3 1/7.!

(a) 'reconciliation of Notes & !vcco<>uts~l'a able (c)

AccounLs Payable 1,/~71, 922. 15 1,859,661.87 562, 215. 0~+

Gas 'i@a",bine /F3 't,oan 6,882,356.00 6,525,000.00 f~otes Payable 1 750 000.00 1 750.000'.00 75 OGO.OQ To'l 10, 10/I, 278. 15 10,13('.,661.87 637,21.5.06 (o) taooaei1:.iatioa oT Total 1ooi To,".)a Dabt, (o) 29,153,560.28 25,070,701.87 20,/! 65, 280-31 Cas Turbine 7i'3'3'.oan 6

6 882~356.00 36,035,916.28 25,070,701.87 20, l>6.'i, 280. 31 (c) Pcr t1 e p arpose of making a pzoforma adjustment of the (las Turbine ~r'3 Loan from "hort-term to long-term to more accurately shoe the nature of the indebtedncs..

29

Arizona Elect:ric Power Coopexat:ive, Xnc.

'He: Proposed Rat:e Xncrease 3unc 12, 1975 e

Tit:le: Construct:ion Expenditures and Gross Ut:ilit:y Plant: in Service Test; Year Prior Year Prior Yea'=

/./" /.

(A) Cons eruct:ion Hxpendit:ures 1,102,768.76 12,497,746.46 l.)586,250.45 (h) Net Plant Placed in Service 6,626,952.24 83 368 08 2,962,132.59 (C) Gross Utility Plant ln Service 26,894,091.20 21,359,404.38 23.,229,349.70 All (h) 'Charges t:o Hork Orders (Acct. 10/) minus miscellaneous djustments.

(f>) Hol k Orders classified and tran, ierred t:o Acct 101 o t:ransom rred to A. ct. 106 (C) Docs not: include Mork Orders in Progress Acct:. 107.

N>> pportin~'chedules:

1",- 5

ARXZOXV, m,rCTRXC PO<<HR CoorHmTXm, XNC.

morOSCD RICH XNCRHWSS SUPPORTXNG BOCK~i,ENTATXON XN ACCK%)

$ 1XTft GKNHPJ8. ORDHR 0-53

.Tune 12, 1975 B. Rl> F10 r QcheQPl 9 RQ. 2 oPODlllj R:1's.Q Xxxcrc'.88" JUQG j.2 p J.972 Soll.'u'.Bx"J of Or~p ".1a".l. Coa+

Or:Lgj."i)a" Cos t Rel:~ Jja~~

G"..O..s O'"DP.l y PLaxl~ i.x1.8c-vice v33,."39, GI~'l. 29 T>638'CCÃlXallat:8Cj DBPX'8CXGt5.OQ I;,I.q~ 38 I, -"C>

~j.iQC Uwr.lit/ P1811't JQ iRQVJLCQ C".LB l oxi'aer8 A'.PJMcas For Co'A8 tract J.oxx Cont "ibutxou3 in Aid of Coxxstvxct'xoxl ~

O Or A.li,ovaxlce for Noricj.ng Cajx1.t:al 5,1J-'1,333.80 (b)

To van. P<G'lx e RG 8 c.

"XxxcRUG". Qg Px'020'Ql'- - 8 JU8 ilMxxt:8

>'J:>Flor a>i ~ t'lB<'ohC 1Low,', l. ~i) JG j. e<~:

~ ~

32

p.zi-ona H'Lectxic poem Coope=at-'i>e> iSCt18t~klle B 2 RQ; PÃoposeQ R:-tLQ XncveGGe 5;g.t-le: O-.igiga3. Cost: Bat, 75ese P"o.""on."z Ad jus<ra;ga F

ACCQQ1 /LG~M t:e6 a> Hno of PFozox~)Q PC RQQ of Vest Year . Ad lu G~er ;: -a Tecg 'bar Gr.oss Ut:ilia@ P:tant iYl SQXVice $ 26, 89li,091 '. 20 70~6 f5q756 09 p33539,8~>7. 29

2. 7 es8: Accurrulat88 Depx eclat:ion ~~,-'>38, 387. 56 I) )(r3o,30].56 let't:ilit." Plan> 3.n Service y22,~~5 7, 703, 6-'~ 6g,~ 7~6 09 q<29, l03, l>59, 73

/

(a) Gas Xuz'>:inc P3 t'fl Ge..vice 'tl:lg 9 J.9/5 ~o~ cise'>Q.acct 83 of ppi] 0 j.97, (4 JBS lncl'Ll(t@6 lII COI38 t:VUCLioXl 4'70~k:LQ px'O~~>'."M 9),

Sll ttO'1 tlA(! SCbOQu'lQS: Reoan ':"ne!i<Le F,-l

!arizona I'.lcctxic Power. Cooperative, Inc,, Schedule 3-5 Re: Proposed, Bate Tncrease une 12, 1975 Tit3.e: Computation of Working Capital Amount-

1. Cash working capital 991,259.64 (s)

2. IIaterials, Supplies, and Fuel Xnventories 4,028,285.33 (n)

3. Prcpayrnents and Special Deposits J;64,788.89 (b)

4. Total Borking Capital Allowance $ 5,184,333,86

{a} Othe;" Power Suppl.y $ 2,763,189.46 I ess Dispatch Cost iii5 76~.16 Purchased Power Cost $ 2,597,424.30 24 = $ 108,226.01 Operations Expense $ 9,3l.2,290.03 L..ss Purchased Power -2,597,424.30

'Yiaintcnance Expense 349 403.29 Total $ 7,064,269,02 8 883 00' Cash >lorkinp Capital $ 99l,259.64 Suppoxtin> Schedules: Recap Schedule (b) E-J.

34

ARTZOiiA ELECTRIC PQJEli '001,EPUATXKVs ~ THC,

'PROPOSED PdA'I XECPZASE SUPPOIiTLXG DGCUHENXATXON XN P.CCOBD

$ D."II, CIXi'EI<AXi ORDER U'-53 Juno 12, 1975 C. TEST 'YEDPi XHCOiK STATEIMK1'S 35

Arizona I" lect:r.:ic Poiver Cooperative, inc. Scl!edule C-l Be: Proposed Ra):e 'Increase Ju!ie '.1.2, 'J.975 Ti.t:lc: Adjust.ed Test: 'Rear '.llzcomc Stat:ement T.est.'ear (a)

Actual PTa l su t:8 (b) M);ex Test Year Pro norma I? r 0 f0 a ma DescrLot::ion 0ndecl /s~/30 15 Ad.iustment.s Ad i us f'!!)en T's Elect:sic Ene'cpy Revenues 12,220,235.97 (213,323 71) ~ 12,005,93./.<<6 J.!!collie from 3.eased property<'Bet Or'ne".. Ot)era~'. Reveiiue & Lncome A3. 2'/8.05 l 3.228TQ TotTT Oper. Revenues & pat. Cap. 12, 263, 464. 02 (213,323. 7i) 12,050, 140. 3i Opera Operant::i.ont::Lon Expense-'L)roduc t:ion 5,. 900, 723. 25 53, 175. 40 5,953,898.65 Ope'c. Exp.-Gf:her Pover Supply 2,763,189.46 l) 9,31./. 05 2,812,506.51 Expense-Transmi s:Lon 11l),466. 31 35,727.82 150, ..3.3 Operat::i.on Expense'Dist ribution Oper. Exp.- Consumer Account.'s Operat:Lon Expanse-Sa1.es Oper. Hzp."Ad)nLn., & General 533 811..01 43 054ol)7 5'/6 965T48

'.i'.ot:a',L Opera)'ion Expezi e 9,33.2,290.03, 18'J,; 274 o 74 9,493556/). /7 K<intenance Expense"Product'.ion 187,401.22 32,552.l.9 219, 953. 4 3 Haint:en )nce I"'xpeiise-Transmiss:i.on 106,965.86 35,872.40 142,838.26 Maintenance Expense-Di.st:ribuf.'ion "ia;in, IPxpense-General Plant; 55, ()36,21 7.l)83. 91 62,520 )2 Tot.'a'.l. 1iaint:enance L<,')pen, e 349,l)03.29 75,908T50 42'< 1 '<

Deprec. 6 Ament:isat.'ion E".. pense ,6?2,990.15 353,602.85 . 00

'7'76,59'3 Tc'; :L,015.419. 81 251 613."9 3.,267 033.8()

Tot'.al Cost oZ Electri.c Service 11,300,1Q3.28 862,600.08 3.2 2 1 62; 503. 36 Oper<itin@ margins 963,360.7/) (1,075.723. 79) (13.?5363.05)

Xnf:crest on 'I.ong"Term Debt: 509,423.62 509 ~/'<<3T62 Xn"crest: C'")arged t:c Const:r, Credit.. (514,058.71) (Sll),058.7'f )

Otlzez Deduct:i.ons 630,487.13 630,487,:l3 J.z) tcres t: X"zc>&le 58,084.78 r

58;084.'/8 A.Li.oiz. X<<r B<nds Used During Const:r 0 "I!er Non-Operaf;:ing Xncome-Nef: 4,841.79 4,841.79 Gen. 6 Transmi.ss:ion Capit:al Credit.'s T ~

Other Capo Credi>s 6 P<lt. DJ.vidands l)1,455.00 413 <5,) T).<0 1'.'.xaord:i.t4!re 3. 'ms 2.215.67 T

<<.?J....i ) /

Net.'c<tron'U'e Cap'i.t!al oz YiarpJlls 444 1Q5.94 (1, 0/5, 723. 79) (63 1.,6J.7.8.'))

c Supp(<.c i'.';<a S..t!ed)) les: ftecat) Sc)!c<du')

fa) E-2 ns'6 (t<) 0" 2

Arizona Elect;ric Power Cooperative, Inc. Scil cdule ts-2 1:e: Propo .ed ltat;e 1ncrcas'une

.'1 2, 1975 TiLle: Income St.at;emend 1>roiorma Adjus>meni.s 9e script::>.on Ad 1u I st:men t:s Revenues:

Elect:ric Energy Revenues {213, 323. 71) (a)

Tot.'al Adjust:meatus 'to Revenues (213,323. 71)

'Expenses:

Operat:ion Expertise - Prpduction 53,175.40 (b; Operat:ion Expense - 01:her Power Supp1y 49,317,05 (b)

Operation Expense - Transmission 35,751.82 {b)

Operat:ion Eayense - Administ:rat:ive 6 G neral 43, 054.!'>7 (b)

. ot:al Operation Expense 3,81,274.74 Haintenance Expense - Product:ion 32,552.19 (b) tlaintenance Expense - Transmissi,on 35>,8/2.40 (b)

'v>aint:enance 1:.xpense - General Plant: 7,~83.91 {~)

Tot:al ttaintenance Expense 75 908.50 Depreciation 6 Amort:izat:ion Expense 353, 602. 85 (c 1 s

Taxes 25 1 ~ C>13. 99

((.",'oLal Adjust:ment:. t:o Expense 862,4>00.08 I

(a) Elect:ric Revenues reduced by amount:s collect:etl duri>>g mont.its of l:1>le  !.est: year "[;.at, vere for other periods.

(b) Payroll adjustmetd;s re u'1>.inl; from union set:t:lcmcnt cfiect:ive 11arcn 1. 1975 Q>>J addit;ional ps sonne".

(c) 1)eprec1ation increased t.'o i>>clud>n Gas Turbine $r'3 (leased on current; (epend i >urea o;>'! y).

( Tasn.", >noroasaIl bssoI> on 1I>>5 ua>unI:Loss, a"susIinp u-'v. '.;n",.Is w".:.sin <or. 'ani.

Sx>p~ort::f.np Sct>e(1uLcs: 'P.ecai> Set<cd>> ie;> ..

C-1

A'"irons H1ectric Poser Coooerntxve, Xnc l~clgpdge3 g Pa: Propo" ed Rat:e "Xnczease anne 12, 19/5 Computntion of Gros" Revenue Conv -Ji:ton Pac~o Percenknve ox Xncrell'enc61

~Dascri >'io'x Gros. R"'i" n as ACC Gro8 3 Raven'?8 TGx 0. 197>

Tot:a1 Tax Percentage OparAc.Snab Xncore i =- 100% - Tax Pc" centage >> .99893

~ Gross Revenue Converaioh Pc~qot = 1.00197 On 81'a L i11E XQCOTl!8 K i)Onv)ov(:

~ 4 I ~ in)~7p i%chad'L1108:

~

Pl'yc i ) CI1i](.'Lt ~ t) fbi

e ARXZO'LK ELECTRXC PO'iKR CCDPEP~VZXVH, XNC.

PROPOSED BATE XNCPJ'.ASE SUPPORTXNG DOCPiRNTATXON XN ACCORD WXT11 GENERAL ORDER U-53 June 12, 1975 E. 1'DiLANCTAT. STATEMENTS hgD STATXSTXChL SC11EDUJA'S 39

Ar" Rona Electric Power Cooperat:ive, Xnc. S chcdul c I'.-1 Ite: P oposcd

~I wr ltate Xncrease Page 1 oE 2 III Tune 12 > 1975 Tit .l,c: Coniparative Balance Sl:eet Te t Year Prior. Year Prior Year Assets ancl Other Debit:s L'Doled I l>01i5 Ended 3 Rl311 7l Ended 12/31/73 Tot. Ut:ilit:y Plant: in Service $ 26,894> 091. 20 921>359,404.38 F21>229>349.70 Constr. Boric in Progress 8,388,98/.97 3.3,913,1/3,.45 1,65?.,824.12 Total Ut;ility Plant: 35,283,079.17 35,272,5'15.83 22,882,3,73.82 Accum. Provision for Depr. & Amort. 4,436,387.56 5,347,844.12 4,768,345.89 Hct: Ut:ility Plant: (a ) 30,8l)6,691.61 29,924,731.71 18>,113,8?/.93 Non-ut.'ility Property-Nct . 0 ~ Xnvest. in Assoc. Org.-Pat:. Capit.al 44,312. 24 43,838.88 643.57 Xnve t. in Assoc. Org.- Other 388,588.00 388,588.00 308,082.00

. OLher Xnvestments 2,992.70 62 992 10 1,301,303.21 Special 1'undo 31 604.l4 ~48 l'ji 't3 l."t il Tot:. Ot:her Propert;y & Xnvest. 467,497.08 512,906.24 1,623,157.89 e Casl. >> General Funds Cash"Constr. Funds-'.Crust.'ec Special Deposits 464,598.86 286,585.09 8,093.00 43,785.26 212, 7lo. 86 4,59/.00 82,163.3?

294,72i.92 4,564.00 Account:s Iteceivable - Net 678,693.31 l.,206.036.16 SR / >9 73 1"ue3. Stoclc 3>796>055.86 3,324,068.69 882,769.69 llaterials & Supplies-Other 232,607.21 15 /9R 328)887.90 Prepayment:s 156,695.89 115,414.38 78>070.97 Other Current & Accrued Asset:s ?66 395 9/ 3,:i9~0? 2. SR l '1 0.67'?.../.".~

Tot:. Current & Accrued Asset:s 5,889,725.19 5, 263., l)74. /3 56/ 590 0()

Ua~~ort. Debt Disc. & Hxt:raord. 216, 774. 39 225,54/.03 251,864.95 Property Less Other Deferred Debits 4,033,819.49 1,282,200.09 144294.88 Total Asset;s & Other Debits $ 41>454>507.76 g437>206>859.80 $ 22>691,/36.61 Suppoct:in'chedules

~

~ I'ccxL~ Schedule:

(a) L-5 A-3 I:-9 40

Ari.zona Electr::ic T'ower Cooperat.'ive5 Xnc. Selt dule E-1 Re 'I!r.oposed Ilute Xnc.".ease Patie 2 o c inc 12, 1.975 T:Lt,Le: Comparat:i.v- L2a.Lance Sheet:

Test.'Fear Prior Year P.x;i.or "2'.ear Liab<.lit.".Les -nd Other Credit:s Hncled 1~23+L7!4 Hnc~.ed 12/3'/7'3 Ilembexships 25. 00 ~

25. 00 30.00 Patronage-. Gapita1

a. as's:Lgned 6: ass;Lgnable 1,843,609.01 1,84",609.01 ~ 1.91475376o33 b ~ x'etirecl, t his Qeax

c. Xet:Lred prior years

d. net: pai:ronage cap" tal 1,843,609.01 1,843,609. 01 1. 5 3.47, 37C5. 33 Yiaxgins-.Prior Years 'perat;ing (a) (839,832.27) (504,/78.14) (89-'), 182. 21)

Operating Nargins-Current Year (a) 33/,508.70 50650.30 - 673,2r0.60 Mono pex'Q ting l.'iaxgins (a) 106,597.24 1/)6,427.03 3909195 43 Tot:al 'Hargins 6, Hquit:ies 3.,44/,90//.68 15535,933.20 1.,316,670.15

ong-Term Debt - RHA 28,999,168.19 24,992,606.3/ 20,376,028,31 Long-Term Debt

- Other 154 .'392. 09 78.09!i.50 89,25?.00 Total Long--Texm Deb L 29,155,540.20 25,070,701..8/ 20,465,280.33.

Not:es t7; Accounts Payablo 10,10I),278,15 10,134,661.8/ 637,215.04 Othe'urrent: b Accrued Liab. 51~Ci 290.69 397171.5? 27 L.88!).36 To~'. Cc!xrent 6 Accrued Liab. 10,260,5G8.84 10,531,833.39 909,099.~<0 Deferr d Credit:s 200,866.82 50,90').GS Operat.'.i.ng ¹serves 31,604.14 17,486.66 6,686.75 Contrib. in a:id of construction

'I 4

Tot:al'Liabilit:ies 6 Oti;.ex Credits 941,454,507.76 $ 37,206,859.80 (22,697,736.o L (a) 2'2d.iusi:cct .t.'.",.om actual 4"30-75 figures t:o reflect marg:Lns i'or ~otal test year.

guon ~x l;.ic1v 42;:).eclules: s Plunder Qchech!les:

n-3 41

Ar:f.sona Elect:ric Po~~er. Cooperat;ive) Xnc. Sc'neclule E-2 Re: l?roposed, Rat:e Xncreasc. c

'une 12)) 1975 Tit:le: Comparative Xncome Ft.at.'ements Test: Year Prior Year 1?r:i.or Yes.r Desex:in t.'ion T'aided 4/30//5 Ended 12/31L74 I'.n8e8 1?/~l/73 1" l ec', ri<<Energy Revenues 912,220,235.97 810)685)346.86 7, 941. 465. 34

. Other Operating Bevenue 6 Xncome >>3,?28.05 32.813.31 13.680.27 Tot:al Opera"ing Revenues Q Cap 1 eel (?'at.'ronag 12, 263) 464.02 10,718) 160. 17, 7,955, 1/)5. 6 Oper-" t.'ion Expense-Procluct: inn 5, 900, /23. 25 4) 781, /04.07 3) 427,8?0 I../.6 Oper.. Exp.-Other Pocver SuppLy 2,763,189.46 3,014,737.01 1)606,330.36 Oper. Exp.-Transmi: sl.on 1N,466.31. 91,494.64 84)934.34 Operat:l.on Expanse-Sales <<0-Oper. Exp.-bdmin. 6 ('eneral 533.911.01 492 93l. ]8 418~ 842.. 58 Tot:al Operation Expense 9)312,790.03 8,380,866.90 5,537,908.74 t Yau.nt:Qnance Expense-Product on 187)401.22 172,304.83 l35, /24.49

~

kfaintenance Expense-Transmi.ssion 106,965.86 100,533.72. 42,885.98 Main. Expense<<General Pl.anL 55 .2 036.21 52,131.05 31 686.35 Tof'RJ. +?.laint:Qnance Expense 349,/)03. 29 324, 969. 60 210,296 l)eprec. t? Amori.. Expense 622,990.15 61$ ,95/.06 589,720.68 Imp'e" 1~01~5 419.81 798 9?8.11 Total Cost: oX Ele<<t:ric 550.533.7+',888,459.98 S er'c?.Lce 1'L,300,103.28 10) 123, /21,67 OperaLix)g 1~largins 963,360,74 594,438.50 l.,066,685.63 XnteresL'n I ong-'J.'erm Debt 509,423.62 4/1,/)('7.45 392,912,42 Xn t.:. c'.'t?arged tx? Construct:ion-Cr. 514',058.7l. 3.'>9, 197. 49  : Other Dec',uct'.ions 630,487.13 431,538. 24 522.61 Xnt:crest; Xrcome 58,084.78 103)2,29.72 1J.7)600.02 Al.lOQ'o;for. B)nd . Usect Duri)lg Const r. a.0 OAer 3)'on-opera"..ing Xncome - Hc" 4,843..79 <<0. <<0" Ot%!er. Cap. (ireclit:s &. Pat:. DLvidends 43.,455.00 41,455.00 ~ ~ Ext:raorcl:l.ncL'I:g'... 'ms 2,21.5.6/ 1.742.31. 79J..3(?

Net: Paern:;:agc (tapit:al or, Nargins ~ 444,105.94 197,077.33 791,641.98

~ .,

Suan or'.:Jnc g Schedut.es: ~

~ 1;ec,ap Bcheclu! e's:

A-2

Ari.zona Elect:ric Po<"er Cooperat:ive, Xnc. Schedule E-4 Rc: Proposed Rate Xncrease unc 12, 1975 Tit:le: St.'atement of Change in Patronage Capital lt Net Pat:ronage Operating Margins Prior Years Xalance 12-31-72 775,235.40 (891,321.39}

Ass:tgnment of Margins 372 140.93 (a) ~2 868.82) (6).

'J>alance 12-31-73 $ 1,147,376.33 (894,182.21)

Assignment O'. Margins 696~232.68 (c) 389 606.QJ (8)

Balance 12-31-74 $ 1,843,609.01 (504,778.14)

(a) Oper sting Max'ns I972 339,950.07 Allowance for Iunds used during Const:ruction. 17,224.87 Ad.justment:s to Margins (Additional Revenues) 16 96~,99 Assignment of Hargins 372,140.93 (b) Adjust:ments t:o Pxior 'Fears (Expenses and Revenues)

(c) Operating Haxgin:-1973 673,250.60 Capit:al Credit.'llocation from SSVHC 791.36 Adjustment:s t:o Margins (Additional R'evenues) 2~2 190,I?

Assignment: of Margins 696,232.68 (d) Total Non-operating Margins 1962-1973 - Chang of ltoard 'Policy 43

Arizona Elect:ric 3?ower Cooperative, Inc. Schedule j?"5-Re: Proposed RaLe Lncrea e Page 1 of 2 June 12, 1975

Title:

Detail of Utility Plant:

AccounL Number D Q~BG'C Ci 0:1 Test: Yeax I

Nct Changes

!~l'll:

Prior Year Int:a>>g:ible I'l.>n>:

301 Organization 6)059.48 .

6,059.48'92.90 302 I'ranchises 6 Consents 992.90 114 Elec. Plant Acquisition Adj. 17,651.18 17,651. 18

'La)1d & l.and Right:s 310 Apache St:aLion Sit:e 39,950,46 39,950.46

. 3-')0 Cochise Plant Site 587.00 58/.00 Harana Plan t Si t:e 1, 146. /9 1,146.79 Redt".ail Sub Sit:e 100.00 100.00 Romney Sub Site 145. 00 145.00 ~ 0-Benson Office Site 19,046.57 19,0/)6.57 Structures 6 Xm rovements Apache Station, 3.,55)8, 091. 90 11,172.80 1,5/)6)919.10 341 Ifarana 6 Cochise Plant 181.,626.82 (3,566.60) 185,193.42 352 Sub., tat ion I4etering 58,701.85 (4,290.56) 62,992.41 390 Benson Oflice 2/2,933.57 6,263.70 266 669 8/

S L'earn Production 312 Boiler Plant Equipment 5)241,040.24 629,117.01 4 61] ) 923, 23 314 Turbogcnerator Units 5,308,476.47 5,308)476./)7 315 /Iccessory Elect:xic Hquip., 405,769.61 405,/69.61 316 Hisc. Power Plant Equip. '130,883.05 130,883.06 Other Produ t:ion 3-') 2 tuel jiolders, Producexs 6 Acces. 233,344.12 1,372.06 231., 97 2. 06 343 Prlr)e 'tin@era 1,65)0,069.52 13.4S6.54 l)636)632>98 3")4 Genera'1:or s 698,551.65 6,931.31 345 I!cce.'~os Elec. Equip. 325,263.89 555 25 346 Misc. Po)Ier Plant Equip. 13,805.42 13805. 42 44

Arizona Electric Power Cooperative, Xnc. Sr'hedu3 e E 5 l<e: Proposed Rat<'. Xncrcase Page 2 of 2 one 12, 1975 Tit:le: Detail of Utility P3.ant (Cont d)

.Account: TesL Year Net t,henpes P"d'or Year J>>".umber Dccc1'xpt:40ll Ended 4~20 75 ..to..l'lang Ended 12/31/7A Transmission Plant 353 S tati.on Equ:i.pment 2,011>310.40 (a) (814,527.15) 2,825,837.55 354 Towers 6 Pixtures 103,083.38 103,083.38 355 Poles 6 lixtures 903,225,39 (b) (40,245.55) 943>470.94 356 Overhead Cond. & Devices 1,273,501.12 ~

(b) (14,308.61)  ;.1;287 809. ~3 Distribution Plant:

362 Station Equipment 111., 323.18 111,323.3.8 General Plant 0ffi.ce D'trnitux'c & H<}uip ~ 71,207.54 4,308.34 66,899.20 2 Txanspor t:ation Equipment 75,444.40 8,520.10 66,924.30 St:ores 2,76/.17 2,231.49 Hquipmenl.'ools

& Shop Equipment 55>65 }'2 535.68',100.86 53,553.36

'95 Laborat:ory Equipment: 21>>, 921. 37 324.49 21,596.88 396 Power Cpexatcd Equipment 140,386.56 19,080.00 121,306.56 397 Con}}unication Equipment 25?,053.95 25?,053,95 398 Ifiscellaneous Equioment 2,644.44 431.57 2,212.87 106 Complet:ed Construct:ion - Not: Classified Stcam Production 3/,717.41 37,717.41 Transm"ssion Plant-Dubs 825,902.08 825,902.08 1t -Lines 4,841,711.09 4,843.,711.09 Tot:al Plant in Service 26,097~,001.20 5,534,686.82 21,359>404. 38 Accum. Dcprec. 6 Amortir.ation l}>436>387 56{c)(911>}5656) 5,347,844.12 Net Plant: Xn Service 22>457 > 103,64 6>446> 143.38 16,011,560. 26 ConstxucLion Roric n Pxopress 8,388,98/.91 (5,5>2 },3.83. -}8) 13,913,3.71.45 TOTAL STET PIAÃZ 30,846,691.61 921,959.90 29, 924, 731. 73.

    ]700 tno tes

{a) Sale of Anaconda Substation (b) Hale of a portion of.':he Anaconda'ine (c) Xnclu<les q'.1.,021,782.5/ - I'ctir-'"ment Ilorlcc .in Progrcst

    'S'>>~}nor ti.ng E-9 Schedules:                                              'Re~ca                    >
                                                                                                   -E-l,"A-4 Schcdu1cc 45

0 Arizona Electric Power Cooperat" ve, Inc. Schedule 1 -7 Re: Proposed Rate increase unc 12, 1975

Title:

Operatinp Statistics Test Year Prior Year Pr 3.or 1'.lectric Statistics: 2/S'L/74 Vca1.'nded 3 Fnded 1~23] /73 1QH1 Sales 841,361,335 869,514,?93 823,415,750 Ave Ho. 02 CustoIAers 5 5 17.00 10. 49 7.48 KPK Trans. Fzpense (Mills/KPfk) 1.02 .81 .58 Slip))oÃl:.itl" ScllQBlllQs: Recon ~chcdu~cs 46

Arj.~ona 1.'lectrlc Power Cooperative, Lnc. ,'>cI).eduLo K-8 pe; Proposed 1<ate Xncrease T:i.tie: Tares Charged To Operations 3)escr) T) Federal '.t'axes: t".Ion '~/- Test Year Prior. Year.

                                                                 "'"'" / -/ ///

Prior Year

   -Payroll -                 l'XCA.                 33 l)19.02    $   3] 292  Q9                25 ~ 116 Q9
                         -    Unemployment:           1,275.08          1,189.96                      ~A2. 72 8 tat.'e T.".r.es           ."

955,03,2.85 "7lI3 752 l).5 509 l)3l).23 Payroll. - Unemployment l,l)/7.l)8 1,805. ll> 1,102.18 iiCC Gr/oss I<evenue 24,235.38 20,888.l)/ '13,938.52 J,ocal Taxes; Total. Taxes $ 1,015,/I19.81 $ 798,928.11

,) 1 I p) ) o c t;,L B Q~  ~~i ch e(hl I. e 8;                        Rcc"p 8chedules:

47

 'c c

Arizona Electr:i.c Power Cooperative, Xnc. 'schedule E-9 Pe: Proposed Rat:e Xncxease Page 1 of 2 Tune 12, 1975

Title:

Notes to Financial Statements Schedule E-l Comparative Baiance Sheet: Xnvestment:s in Associat:ed Orp~anizaeions Patx~ona a~Ca ital: Xncludcs patronage capital as igned by CFC and SSljEC. investments in As<<ociated Orgranizations Other: Xnvestmients in Capital Term Certificates tr'th CFC and other small membership fees (refundable). Oth.r Xnvestments; Cash value, Hanager s l.ife insurance policy, and T.C.D.'s. S~ec!.nl Funds: Deferred compensation for employees xeti>.ament. t Prep~a ments: Boiler insurance prepayment Other Current: and Accrued Assets: USBR Unamortisocl Da't>t Di"count: encl Hztxaoxc<<in;cx being written-off. and fuel. enrichment prepayment fox int:exchange poleax. cac P-ooext~io.;:.: AHPP. Obsoiote Bio"el stat ons Othe" D..fcrred Debits: The costs of projects in preliminary sta<<es (i. e. Engineering on Steam Units 2 and 3, Railroad right-o -~ray, and Coal Hzploxation), Lo~n~ Term Debt Ot:her; Committed investment in Fast Bxeedex Reactor and Electric Power Re, earch Xnst:itution.

    'ther     Current and Accrued        Liabilities:     Accxued taxes and        interest.

Deferred Credits: Fuel adjusLment "Ban!<<. Account".

     ~O..rating; Re;exvos:       Deia".xocl compensation       for. amSlogtes xntixescent.

Schedule H-2 Comparativ Income SLatement:s 0" i>ax Oj>aral:inL Revenue .".nd Income! Hl>eelins clc;.xges. Other Deductions: Xnterest on 'tort term debt (to C""C) and donations expense.

I g( <yodole s':- 2 CorAl)at at j.ve J.lrco~a.!6 Sta te[Qents (corlt'Kneed} Sebo(bale  !:-9 Page 2 c<< 0tner Capital Credits and Patronage Dividends: Capital c-..edit allocation from CPC. Hxr:r'aordi\let'v XteR8: C'ita" cred t all ocat;ion fL;oR SSVEC. Schedv3.e E-.5 Detail of Utility Plant Construction 'ho".k in Progress: Primary item is Gas Turbine fi3 ($ 6,525,000) and va"iovs othex'ork in pcogccss. Supp'.>r't j,r'p Schsdnles 'erap E-1 E-2 H-5 Sch<.dni".-,

ARIZONA HKHCTRXC PO'.PER COOPERATIVE, Xit'C, PROPOSED RATE INCREASE SUPPORTX'LING DOCUMN'i'ATION XN AC CORD MITkt GEViEIAL ORDER u"53 JGQG 12p 1975 1T. EPPECT OP PROPOSED TARIPP SCHEDULES 50

Arizona I':lcctxic Power Cooperative, Xnc, Schedu'.l e H-1 Ile 1'xoposed 1<ate .increase J ~ c 12, 1915

Title:

Summaxy of Revenues 'oy CusL'omex Clas. ification Present and Proposed Rates 1(evenues in the Test Year PI'o~losed 1M'i e:~ s;" Cus tomex Classificat.ion PresenL RaLes ~Pro o a"d Rat:ea Amount / wholesale $ 12,006,912.26 $ 13,605,11l>.30 $ 1,598,202.0tI 13.3 ToLal Revenues $ 12,006,912.26 $ 13,605,116.30 $ 1,598,202,0/y 13.3

. appoxtin~~Sche<!ules;                                           1<c~ca > Sclu dule s:

                          'QiE ABXZONA CORPORATION CON!ISSION r)Q'EFOH(
                                                                       . g/           //"":/'

s AL FABON bn Chairman ERNEST GARFIELD Commissioner y'C BUD TINS

                                                                                       +
                                                                                         ./$~

Commissioner XN Ti)E ?QTTER 0 THE APPLXCATXON OF ARIZONA ELECTRIC PONER COOPERATX~/E, XNC., A NON-PHOFXT RURAL ELECTRIC COOPEHATXVE, FOB BATE XNCREASE. D'30lZT NO. U-1773 OPINION AND ORDER BY THE COi&KKSSXON: The above-entitled matter c me on for hearing before Evo J. DeConcini, sitting as Hearing Officer> in Tucson, Arizona on June 24, 1975. Applicant was represented by its attorney, James F. KcNulty, Jr., and there was no appearance in opposition to the granting of the application. The Com<ssion has read the transcript of the pro-ceedings nd the recommendation of the Hearing Officer, and , mikes the following findings of fact. s+ FIt!DXNGS OF FACT

                   'he     Original Cost      D preciated'rate    base   is
                    .427 631 353-00.

2. The Fair Value Bate Base is Original Cost as the Company chose not to present a Recon-struction Cost Study.

THEREFORE XT IS ORDERED that the following rates should yield 6.1+( return on the F"ir Value rate base:

                 $ 3.47   per Kl/month, plus
                 $ .0127    per  l"ZrI used   during  billing period.

Fuel Ad,iustments Such ad;:ustments .shall be made from a base price of ono dollar and seventy-five cents (.~1.7$ ) per million BTU cost of fuel consum d in the AEPCO gener ting stations, plus additional fuel adjustments from other systems supplying po:(er to AEPCO. Thc total amounts calculated and received as fuel.ad,justment on sales to non-membc s shall be deducted "rom the total fuel ad.justm..nt costs. 52

DOCWT NO. U-1773 DECISION NO

                                                               /' -t
                                                           .)/ ro'~-
                                                           -'.       .I Tne  resultant n t adjustment to AEPCO shall be divided by thc total K!1H delivered to the members.

The resulting factor "hall be applied as a charge or credit to the total KbH delivered to the member" as fuel adjustment. The fuel adjustment shall be invoiced monthly by methods determined to meet state regulatory and member requirements to the end that fuel adjustments "re applied equally to all users and without margin to AEPCO. Tnese rate" shall become effective with September, 1975 usage, and Octob r,, 1975 billings. XT XS FURKiEH ORDER<<D that Arizona Electric Power Cooperative, Xnc. shall notify each of its custome s by first class mail on or before September 1, 197$ , of this approved increase in rates and the effective dates of same. BY ORDER OP THE ARIZONA CORPORATION'CO'MISSION. mC IN MXTNESS MKHEOr~ I, GEORGE M, DE!tPSEY, Executive Secretary of the Ar~i on" Corpora ion Com~ission, have hereunto set my hand and caused the official seel of this Commission to be affixed, at the Capitol in the City of yhoeotx, thee 1975"

                                 ~!    :i dey of (.r'/ .i!, X-c/
                                         ~yz~,n GEODE kl. DEt&EEy~

E)gCUTXVB S" CRETAH"

"Provide fox each participant a list of generating units to bc constructed during the period of construction of the subject nuclear power plant, showing the type of unit, net capacity of each unit, thh dollar amounts to be expended for each unit during each of the yeaxs involved, and thc in-sexvice date of each unit."

RESPONSE TO ITEN 11 "Two coal-fixed steam generating units producing 350,00 1cilowatts (175,000 Kilowatts each) net are planned to be constxucted from 1976 through 1979. The in-sexvice date for the first unit is 1978 and the second unit, 1979. The anticipated annual expenditures on these units is included in the table on page 3." 54

ITE~af 12 "Complete for each participant the attached form entitled, "Financial Analysis" for the years ended December 31, 1974 and December 31, 1973." RESPOilSE TO ITEN 12 "Attachment for Item No. 12" is on page 56."

TTACHMEN1 FOR ITEM NO. 12 FINANCIAL ANALYSIS 1974 1973 DOLLARS IN MILLIONS EARNINGS AVAILABLE TO COMMON EQUITY , N/A Nl/A AVERAGE COMMON EQU ITY RATE OF RETURN ON AVLRAGE Cot4MON EQUITY NET INCOME BFFORE TOTAL INTEREST CHARGES>> .594 1.066 TOTAL INTEREST CHARGES .543 .393 TINES TOTAL INTEREST CHARGES EARNED 1.1 2.7 I'IET INCOME BEFORE TOTAL INTEREST CHARGES .594 1.066 INTEREST ON I.ONG-TERM DEBT .471 .393 T I MES LONG-TERth INTEREST CtlARGES EARNED 1.3 2.7 GROSS INCOME AFTER TAXES TOTAL INTEREST CHARGES 4. PRFFE'RRED DIVIDENDS N/A N/A PREFEftRED STOCK COVERAGE AFUDC NIET INCOME AFTER PRFFERIEED 0 I V I DENDS N/A OPERAT ING EXPENSES (LESS DEPR. R, TOTAL TAXES) 8 F 433 5.569 OPERATING REVENUES 10.685 7. 941 OPF. RAT I NG RAT I ON 79$ 7(P~ MARKET PRICE OF COMMON BOOK VALUE Of COMh1ON N/A N/A MARKET BOOK RATIO CASH EARNINGS AVAILABLE FOR COhIMON COMMON DIVIDFNDS N/A N/A RAT I O CAPITALtzATlow (AMouwT 8 PERccwT) LONG TEftM DEBT N/A N/A PREFERRED STOCK N/A N/A COMMON EQUITY N/A N/A

>>IWCLUOE IWCOME TAXES         -  CURRENT ANO OEFERRFO.

56

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