ML19323F094

Annual Financial Rept 1979

ML19323F094
Person / Time
Site:	Rancho Seco
Issue date:	01/30/1980
From:	Baird W, Walbridge W SACRAMENTO MUNICIPAL UTILITY DISTRICT
To:
Shared Package
ML19323F091	List: ML19323F090 ML19323F094
References
NUDOCS 8005280520
Download: ML19323F094 (21)

Text

. Nit 'l tillit 'llli o.\\lIlliit 'llh tl l lllll t' l)l\\ll'lt 'l

14) 't) :\\ llfililll l$t.jh ol'l O

l,

[.

.. ~.

9 c

4 S' %

..e v,.

.y.

3-n. y

, h,3 s

n. w; w.

.,. f R 7.

- }

..),

, c '. g: Q.r.,.,, '-

m.

=

y2 y

~

~.

s.

.. _ _ _ w 7.,._.. -

~

w J..

.(.

.f c

gP

~

.?,

. e.F --+ n.

m

..;e

• .i m -'

~+a

_.p

'^

s

~ g%

. s..-. a

(

vf 1,

.s yr,,,

,4

.,., ~

l4l.

.c.

r t.,

'e

- - 3

..m 4,.. p

.c f

2 A.

m w

.f I

'V 4p(

hi.

b 4

^

a

...c p

Ng THIS DOCUMENT CONTAINS P00R QUAUTY PAGES 1

s o c_w C2D i

L

~.

m,,

a

- ^--i m ;u y +

Qa-

\\ f.y Qf p g yf& qM r 3.n 'v m weg.x

-&QhL -Akpj&

l&QY$l-lg,& v$.4. f f h ~'

e

,Q? $ U. Q '* f;.W (, ;$

^

$.M; @Mdf.[h MM,s)W@Q(&, ',NMNMYNh M

...{Ull,,,.

.;f

__[ / [ T(g" '7 d -

_ fI 3Nhd y%~_ i %c.,.m>tsN, [:y;An. j,

~

w -.m y %.<, w$Q4. y."

MWT Qi' %Nhi;; d.g,m.m.,) y:

• M l' % G%hMR,

.z %

m ap %.x'4p1W~:. -

A p<f. i..

A.

a:.

g y?y,.,

ee s.

e 4--sL t,

J Awe c

b '- Q,

• 1

.-'q,-

v,3, m*

wpr

.- n.w 7.,:%g r n

,., v

+ 3 s.. 7e.v 3

m

,+

r+q t

. c

+.-

? -f4 4

2-4, 1

4 7o s

R.*

• 5,.

Wp,,,.,..,yty. ; 4 u n'm }p'

.. r:

e,,~';W - kyLra '.:

i

% y a 4

5. s

_r;A.s"2 cs.

e>,,"

s

>,, y, e. w *, ' c.

7

-c.2 *1-y*

~ esv,,an

., ', ~

~

'. %,Y * ' _

,#. 3*x..,.'u'." /w;"9.'.

'..q *w - p' 4 __

m r

?

. %.,p 9.-. A". y%y".)7, p,, e-2,,,,a '5 ' e"a.se

~

s

,.)~

,)~-.n" "y' n, -

r,'s, '3,m'.c~

W y

i*

w'yr

_.<, M, D , +.. >c.3q,, e o n'%'., ' '5

=.

'n,,e,r.'w'...

.w s,. ;; o ;-,,, _.,

mw~

s..

3.e.,.

e.,. f y c..#_

4 s

( -

x * -

R,.v s

, y 4

- v, 61,.

w sg w V Q

,r

• ' rs,..f.;

,,g'q,mq a s..t. '.-o..

g yp., R. t : ~u, b

- or

?

'y

r.. s x v

y g,,c's,,g 2.:

s7 ; f.% '.,, :a.., ~,

w

, :;i m.n,b > u q

.. a

,x u,s., m#y 4

.s y_

w yg..,

iy

. j y %,. m -,sI b,.

s

,m.

e+,.-

%' m'y. *C / f 4

L',p'n'c[,m.g & &' 2

, y**#

n3, f1

'- 9 Jp N

-g

'8'

)

'I'%g hei-

)

M a ' Tf. \\ =4,7. ' V, 1,2,,, M ',W' -.'. V. '-(f+ ' ', y ' J' E m. a

,._-,,ds

%.', _'<wcr-

g..,,M.

'ph'

,.[

~5,9 5

.,.is_jd

. sQ

,(.

1 m.'

.g.

p-

[,',.

c:y.,

s a.

c t.n

=.;

y,.-

T.*

j1e *

,h j _

) $m Ie_

,.3 L'N---

'g.'

YY b

.m

1. 3..u g my 5 l

' )%

.3" g

+ '

.J*

7-

.,s,.M

.v, m,x' (k.:. ~s.

~w,, h iU Sch"#.a.(n, f N h Q s '._f 1

p

[,P y #

.Y.}(( '

>-h _ '

?-

?;;l', x~

}

,f i

y Qk$.fYf, m m#f Q J.

" &*f y lf, G-r

.,,, ;; p

+*

d-

n., e M,. m' n,

f,,.

,, r y'n" &:e

, ~,.,3 4./ t

.1 a'

c, p T x,- p { q,,..

Ot s.. d, f, r.-

-lu p

• w.,.

r.,

,.r g y

-[%6. e y--r-4

- 4,W +q {; ;slg" ;, 3 f ','.,

r t

1 7 t 1 s q,

....,3 g

>,jf, *g, ;; QQ

'.:f:y~j.g.(y 3 ^6,, ;O on -

w p-

+

r. +

,-.;; g ; Q, u t,_q ',--

• e a

['

,l?

1* 's f %,iQR: ~

,4

-v> ',,

-n. e,, a s 3;' c..

e s

- q. S,,,; >. m%..~.,. y

%<b. v. W a.

'> t c

,1,.-

. c,-e-

_g e.

a W. sp.

-. 4 a v r y

. A c y.p. ru u

.(

pp %,,, a..

.3.a, s,o+ ;%x, ;v e

,'.s.,,

% u s',,~....<

,3 9

/.v~..

.e W

~s

,u e

,s

's % ' e.

- ',. ' s 2

.r u v.'

j

,p h _,

h*,,,g'.'....,,

~ ~

j_

.'A a, h..,s > m m.n. ; >_g a w,n.

,. e. m, w

,,a a..,

P:3

.+.,

-. t. w..

p+4

, n '.,

c:

a.?.S., vf n 3 wu

, - - m,-

• t vi.

• .g,t h.., *~-

v.c s > u /. - % c..W

. ~w L. '

1

< E %. s ;, m ko

%' c W S

_'J..?-

?

a5,

i 3

,3#

- s~...x u.m-,m.;s a. n +- % -:,,

~ye 5

<'o y:, t s yT.a m

t

n,

m n,

y:

n, c. ~

m,

a f( c A

l

,; a g p x

• ;..- r s a

S mr m

m s.n. ;, _ * ',,

w# ; f_.

l' f

J

-'t u

g 4

t sg w y<,:. m.:_k.av v:,

<o~

<+

m~.,,

m..

w* m'4.. % "s y. *,m q,

o,,.. ::

u

- m

.s vw

s..i..

c s

c o n y>w'<yy.<,';

< *,s sf__f;s;a w.

p.

..'4 "s

w % q,, m )

a?t,. q.-]

l 7 '.G y,wr ~ '.

iy m

1 d.$. ;3

• s : s.p Y '

s:

. q  % ' Q,. :'. +: >, _

s~r ;,_ s Q-

%.. w.-.

.,y N Q" -- +..

v...

a 4

o-.3

.:n-@ g y pp,b -

• \\ e :ll),-

+f - ', '., ]5 >,, pn % p

?,,wp,g,,

ef: &; Q ' ' 7, 62...

/ '

t.,

v,. i.:as y > Q,. b~2 u L

W, t

-s 3

m 'n. ' *,' (._ 'y p J. +, p g 4.~. #.

n yy:

n

~:3 q,

,e 4 e z

(q.

, 41 :.

v.

w

=

.[. MD#

+

.v.

,'*t a ';

e

1. I,

'*6

...., %.< ~w[,

, 3,e 5., - r ),.Q.,<. %:,,, '," h,N. p# 3:

_ >'f 3, f, -8_*

4 (

.k O 3

y_ s.

s.,- Q{A.* * ; 3, *,,, 3. a, E4: g '.1, A

'V

,,..A.

P

."g.'-

}

,. _ + -

m.%',v r ;,, -

-j Kn-a ,3.(,..'. 4 I

y

..<;r,*+

e. W V.,.:

s y

_f y f,.

g., y, s.,

y>

t 4~,

,.. ~ %g ',*

9-eq.9a

g. = ;,. 3p, pg,^y ;, _ y, N g-r i,

?f f 4

{ _,> r n

a

??

,_ g,y ; m

, y.%,

r

,/

• ; R_.p :r y y _~ y v e,.(

P.

r,

'. 3..g,.

[..:' yh.

• ,.,),l-

, v kj N' ~ * ; 'u,4;. y<

gt

_4 fp.a

~* r

,s,e

.. ~,

.y.% hv'V ok"-

' ' 'y',

~g%a

..p,.,

y <

,, ;j { N,,, }% uly, '."f',

• Yh

+

?W s

s

%%iV T T

y

.m y

Yll El 3 l$ _*

~3').ll

. 1.g{;

, n/ T N

j{'l

, j.:

,.L f.

y

,, - -

• n% A.ss.v4 4,. g, ~. 7.m, p n*N' c -,.

.,'I.

.,/ i-.k [e. -* " -

.g.

_)lQ h, bMW'f',.<y'Q,,,m',*?',++-

y

'}.l,',;~,-?q *%. y !_s' W_- J--l'l,'h. c.g.i#.S M' c oa.(Q }f. i f w-:. p apW J y & L f J-

}

'J.

% ^

e e.

s

' C.'

- m"e.'g4

..,yf O->

g,

si

-t n.

o, [..._

,l

• sf s

i ;,. ' r, ) 'g.

u,.

a~.,;, m s.

. $$nes h'~ to M&{a el~%. My W_ k k'*5m'%7 'tbiMf.L'n' *;

'I

-}.g

./,_.:., &

r1 n

-')i s

Yg

/v' j

{3 g, -' %.p : :a s,f_',, w

}r 4,

t s ~ f-f+ f w,- r we nm w

d $$.' 'f w$,hMMSUt$0N[yhw(,fm.[l n,'jfNlQ 7

., ^

l[f p

02 i

..n

_ -v n' '. ~.

'.is : Y Y^ n :%+i:%o *.

a

-I'

+

v w r+n on n? / W ;veia :>

U,.

c

nimc;SM D,l

• bi'&4.;> ^ v t,:.q? j s }ys _l$yy;$g&_m %,t s.in:W f.l Q &.

*4j -QQ ; Q [ i& "-

T'.ae= ^ ~ * ; q v=.

A.

q c.

\\

&::. >. ~

./

,, ?j*

r.

e

~ gj

- a w.

aw

, YQ &_ & - y <

L w w ;f y;u,,yf ' V~p.

/,r@.Q._ m

, m

.-o ~

~

_. -... - ~

, K > 7 ) py ', <

~

,9!&f., @M TThy;Qh.

LG%

• Q:4r -.. w m?. u p'--

s am l Q, e, w n*

y.

+

-y n

,m.m

~e

.g n,

Y b w',',,., Le,,n' f

.ff

,J' n;

u

~

' f. Y.',, n h 5. p' '.nl or-W. k..

1Q?. V s,',i

,f

~. Y f --f! g;e?. h

~-

N N N '

f.

~-

W

.n v,

e.qs' %

_s, ys n n

w

))

.. s.w, j,,

pp

• u.

n og.; ;:q,.r+;j;,,p ;

• w',

~

~,,Q.o grs ?e,y_ Q ;q,1f.,, y _

, ~,c

+

p.!.

y. y y

e n

s n,s*

f s.

gy w ry g m,3;,

j;,)

gy 3, g-~.g,9.y,. wp my:p 3 +

s

_c a

,.a

,g.--.m

.,- 7 y m.f g.

e,-.

1-

. w.c u

f 7a.,y r>p 'n q:pf y

f.

mHgm

\\

,_,su, e

t p p w.c.x. v:, o.m o,. s. >- s -

'n.y m e;m y u. 3_.

y<,,

sr a 9 v-u r

.. y:

> Db.c>

• M....,

-: v.r i '

e -

5

p. b now e,r

+

• ey ca = n.

s,.

vA.

.3M :n.. M.M; w" y k h~ h "n yI

--.,.a"."

w'E-.f.

e.e, %h g:s. p, r.e. w,c :a w w p', #n.

• v.4 ' pl. -. ~,r.-

a e

m-aq

.1>g

.j, h

-;J.

anxy,% a >

Iv.

\\% A

• $', p ~M oi,p N b(M- -'CW p M V,-i -

• ef &n n h' e-n ~

w s

r e

.w s*

, k I

j a.a4_L 4 JI k"

e

':M m.

bM-.gg.

3 J.

Q't," ~{M

'~:

/1

'""5

. ' m>. ; f. p

,j

• a y

g ["-

W[Ie '." M s ' c 3 s'-

( %fyW,a@,f.',",,'Od((sg,,Agg%y']'*Q' 4M g,,f 4x.., s, w#(.,.t f.n.m

.E I

• 1. 14 Q c s w%

~

pJ3j

,f M

yq@'a r,

Q ijpg4 5

s n pg l

e, 1.:

, j.,- -.~,

n.

. w..

.y

,- J. d

,,*n.2, n.

.g+,.

s

~-

)., " e -- t

,.o. w.{,w iui jV'~ -..

3

m

+ %

i~

.c_

-p

'. ~, ~

f sl &,*-

.m,-I..

% _Q &. '. 2 Q p., %.

m, r. ;,, 'y

. ~.n,, y j, Wy P_,;% c.'?.

...'.g n e-~[ 4.g4y{f+..., e, m.

7 fi d-ni-b,~_ O..

se.y' w % w n n. m ma) 6

.s

\\ n,,..

my...

~ --

. n.,. ~. ws

.~ s t

m..+,,,,m s

,f, 9

.mm.

.~.,.r-v I

. -,. ~,. ~

y

[

D M

- ^

7;g

'w

> ' m['

-' m* *

,.3,,,,.,, fonc q'.4 r

' s ' y.p%,. :.m.

g/u e,}

.".g r y' t-..

+.~

v..

"a r. W,-

w. >*

d w ~--. <

r,. Q*,7 r

e e

a.

n cv v 4 %a-5

..j "Wm'

<.M. >.Q.v.

q.,; f.. -N: J. * - s t r.h.

.m* %- h_y

,,ys

?,? i% s ; - ?n xd 4

.g<a

,o,xa ij -_

wz,

• q %g.z.

g-4,o+

Al3., r..r

, )-

3,.

c4,

, i.

. - i Qh n ( ' 3, h,,.,.

<-t.m%%

,m

%p

.,' x w_D M }m.W; \\y^ f}^.

t.~

p, q.. _.a,s ww..%.

y

.t n. % m; f <,,.,.r.>

., ) y e.

V s.

y

.,., ; q....vpA.% +

s\\q~;p ;..w,n

..

• L_ g:'

.pW.s g

.r e

.q,k.;.,./ r 9,{ ' W,'

.W^ O

'y' f,

r; s

s

+

, W.i [f

p

'a.

qfs e

qq.,

Y M,W)&e:

['

j'%, 'd..

u,

.~

I T-h?

. m'.? l Q j ,, ' ' ',3 y Q

V" e,t w.

z.

n.w r

,.c~.g t.

n /n..,

u m',.

m>mb Q^]@. -,. 3,l x__,q& : jr ' n_p. n - xy. Z 3 4 f _' G% f,h [r, c.rf.W,h;.$. Y.w.a m --

~,r4

.n.

r <

ps U.-V.

A p'l[R, e r.;.%

4 x

y?

y :: ~ e : ' -

s+.q'

.x A ;Q,7s-

-*'.NV1 S

% ;' i.

ff

, -:.' m' ef aJn,m.. vgy,~ 4x, n:

f 'l.f ;,%.} ?', ism,.,,,_ v m e l q,,,

. L 4

vu

.x.~;

+

h '{e's9y:;,p.r. zh f, m,.

gg..,m.,m2 n.

w o z y.g n a,,;;w;

^K

. m....

,A ;% %.n n=.1 s

s ec

)G

,, ~.~.. ~- 4., k

~, m

!~x-;.

y.~.?

G N. ' n n.."4

. y

. s n i dy +, A a16w c - :gg '

w

1' :

-'.+ h ',-w'., jvA;, JY 's k, Y Y, '.(,'

U* h 4 [

J T ' d,q 1.c., e s.

ns s

o my w -

7 ';' S

,,'$y:

1 ~ -

+

ns c

-v

,r e

Y iw g i E..'

h kN

..p MP p, kk

-[,'

9 eN h.

I.

f I,

,g tf # '

gp,,

f'k]

.L

~ ~ '

}"-f f

_.f l,

f

, :.n

vaw,

> a.

~ n ~

h

^,cNI

.W *& P Y-QWVpr*

n. n:3t

) > y r e:4 P,V L,

ye}pg% ' q' f ' '

J.

g h E' ',f.NL

%~,u=

Tx hJ.S f W

.Y. s ~

c

' +

• s Jy' wy<j%v,;93 3

):.3

+,

3 b,&r.

M l.

2 n 4.,;g my. ; m m,4 * *

?

P Qg 7,. g qq% ^~ p -

-.'.Y }g' 'g'y, ew%y%,'i i

4 u %cp - e

.s %,,

v.g

. +.

4 c 3 gp _ya r

w 4 s,s g

+c

, j j

f lh l

Yfh. ;f_

-,) g. w jf;l f

+

o

(.

~

, n u _,.,

an w.

&$)R$r,nn;D, ih,,. gh.ml, ?k&&m m_w.:f ~? ' Qlg& 'D w

~

?? gOWtS*CNwhl w

yw.

+

Mg&m$

k &)

tM M& hb M M $. # M M wer,4% e @% Wl N

3 % g Mywytenmnein g g%@2W TphJ j@k;ML} pd % Q QNQ i a ' %WZR t

1 Q@

MjQFMiMimuokupees u y - g p g p g,w,,g,, w g a,, g g g g@ p y g w a %g @g g g @M p fq gg gggg g@ggpy y W nr-Wasm> M.p% Q$NM7W$7M{Nf[q MY,% y.cyw Q@

m.m-v J%

SR muw+g~p~awG p

3 C J. f, nh~w,g~m,~u =k no m

~

~ ~

. <g y

- n n

n.

n

~< >

w

~ n wm

,a.

.g gm a-5 a

+

m., w p.

7 tn.

,. Q.MM:

m--

5,.Ij c

y -%, M p p.$i.M-arnenL.D;-eprv%,ygg:

-3 fMWWI 7

t%'

.jiOjy C>n s% M;Yant MsM_8 DON /O.OM NI k Q M a

gMIN M

,.,,w m m w ddhMh Vdf,

wu mnzwa um wm

} MMb@M@%hndCoasrphankmcewmang@Q%,;%M@S(pW4psyM a f $ i N M @ 5e d e da t m e*J71su d MQ MN J $ w e "d.&n;M? 4p S

Q X e mepim.det8psemesasC f g M M 4

ne @m?w:.%w;qw%g.n w n%m y+ %a: MM,Cm;Wf. w;(w%smtm;s w& h M WWNw%

wn F~

MW n nw n.: y V l; s.a+y g v "m &ma v, wv r.sm,

. m

. Q~m:f wn w* :. c g

- f+Q

w. -.,

Q r 9 mn wc 7 x.g5

~>

M

+ vmm%

n, f

=.

c w..t ff'hzn p"k"' J m's,.s w ' M#a: n m_7 r

W*

.M Ym m. + 3 #'

,.5' 4.>#.

w^

wg.f n

$,w, ey" Wh q v_ i. 9 N n/

+ hj

'4 J

st ;. -

I

-a.FA%?,..E

• ' Ig pj G

lf ' 4,+

m&~(" Acymg,ff h m w m. a _ f'%

-f J,

grl-ff

$' hf&

f

,}?f'y

. q kh- -

p m, _ a k _ W f lT.{h

~.'i i

F l

wmw_gy$w &m m,m_&m_unw~w w m_

y$ N h h _df, f h my h3h h w

h,l.

f$igh m :L, swm%gw&w@w[ww ywww &p&mm wm%#mW,Migw#;.3 M w[: 7:pg&ggw? m%.

j mWudvh Q

Mm

~ :.

u.s%. W-,.m%em mm.%mw.wm u+m.n p.m%y4I' w,T.: ;4m.c.,an&._ m.s i(.,g N 4[.7.g F WM~m;kM

a. w w#egw g %.<,

wm w

vy m

P-Ao%s r

Mg[4

.J., a g'h.?oJ e

rt

. n u

r gw-y4r z.

e

_ q

,p' N 9we t+

3 u.s 4

.m$']$h'$n$ydd' w$$';#-N,D'[ne&a%wz.ae

[A h.,*"' M k,g-N/

M p.h'; Q '.' 15 cgm 4[4 M

% e' - hT

.hE h M y - 7 ((,'.

k[ p{7'[ljfM'( h.dN Q g,'-f '_ [ < b + g 9 ".

kJ b

'...k

.;-

• h A.

pK : h' I) f'f h5 V

f

@fM' j,.h

,y, S M:%a[$f%w$$ @4e@w ~$w w%m$p#Q@ w$Q&h% w#W*w M

t3 ma s

4w w w. m~,

d[m%My[8. XM$n na 3E

$A Mf, GWW C Q AM9 WdA QC4y OW MDM?M~f.M@a. uTnnh,nh~&,-V

%w.~jdDN%.wa&:#Nf3N/d(w%:%u$$ NM[@+44 n A mnw 7

n n

w

.MMNdh 2

nn n-nuw e, m~a~w n Www,m w~q qh'5

}f f 1,(,.lh

.f

q we& nn.g*Q

. v., r%..

un

,m s'@.%MWM@D%j&y% M % p $ 9 D $ @ n @ffwls';h.yM g @ @ P Q 5 % Q? Q{lq}y.M@@@$G

.m :9 m.

+

-p

~m un o

nwe p

~

x r

ff_, whi.) y? %f.c O

lI q Wk& &,,h.hth &s y.mld;q

. ~. ~~ $ g h.

i sf G

e b

?

t.

Sacanirsto NicsicH%L UTIUIY DIS'fRICT SAJUD The Sacramento hiunicipal Utility District serves electricity to consumers living and working throughout fi.gjjg a 750 square mile area forming the heart of California. SNIUD is operated under the 19n State of California f

hlunicipal Utility District Act. SN1UD's five directors are elected by the public to serve staggered terms of four years each. The General blanager is appointed by the Board.

O

",, ^bN, "1

s g

( ' f,',, L.,.- "

s

~

.,,g e-9

\\

%,3LLIAst O. BrinD g', - lrf b

\\

JA?;

President, Ward 2

.i

,:A W)

N,

", a

~..y

~

f + e rMo.as

. 1[

=

'h nd;.

, i?. e. e McCLLisAN A.EB.k

'N 4

-eRio h spax j

k., l[: ?Ah gl cd

/

'\\

gray gt.au,

(

ff,.

_h,.....Q _ l 4 l-ll/..

\\

N

'\\

Vice President. Ward I S.M M9yi _

%w.

u

p ;

- kg i

y; u

3 w

kk-'h k..

I RIMI ARD D. CASINO hfGG Q-Wurd 5 1: -

. 9;.

f

fsi *

' e[Wason'.

E\\

e' ELE. Gaovs 3B3%A

" 's.. -

amicuo seco 6e a#. w*e h.@, yr,1 o

'I a h

p 73

\\

W t

y

~

Jj F

pat'L W. CAnn j

f Ward ]

4

'% J

+

'V,

,ll:.,,D (Elected President Y

2?

Q:l ) e FnMinLsN k

T ~ Nh' n Y. ;f Q:

Januaryt980)

& y

'h

[\\;

';Qx.w)

J,2{:

~

\\g p

G e--

• G ALT g*

.g 4

h k

""^"O T h

,[

DON Au> C. McCLAIN (QQf T

W Ward 4 N.\\;.

[

.,. ggy.c%_39

%~ :%]f January 19%)

iElected Vice President L,i n.,

. s.

C

~ ;k

))e'WAt M T GROVF f

F-

%l

&Nih-

~~

WituANt C.WALBRIDGE General Afanager b

A

i SA(nAsnxro httNcuwt thitny Distinct a

1 1

l O icivitions For the first time in the 33-year operating history f

l

'979 Jg g,jg gg, of the Sacramento N1unicipal Utility District, peak denund for electricity was reduced in 1979 v3 In the Sacramento Valley, peak demand for power y.h 9

is recorded during hot summer days w hen use of air conditioning is greatest. SN1UD was sening over j

14 000 more customers than it had the previous 8975 i

summer, but peak demand declined two percent.

o 3

i.o s.3 2.0 Sacramento's conservation efforts played a MW Ps a lh uno a Thousand0 l

Ley role in this historic reduction. Properly insulated I

homes, and use of approved thermostat settings in industrial and commercial buildings, helped to 8979 make peak demand decline.

19 3 j

SN1UD was sening 324 438 customers at the end

'977 of 1979. an increase of 14,703 over the previous year.

i i

Residents in a lightly populated area of south-89 3 i

eastern Sacramento County, adjacent to existing 1975 senice boundaries, voted to join SN1UD in 1978 1

During 1979, an agreement was reached with Ibeifie g,, 3 m, j,gi;on,,,j,[ des sales er kurptus Iwer l

Gas and Electric Company w hich will enable SN1UD to begin serving this too-square mile area on N1 arch.19 o, while continuing to negotiate the 3 S l

i9 9 purchase price for the distribution system.

'97*

A reliable supply of electricity was maintained to meet area needs during the year using SN1UD's 1977 nuclear and hydroelectric generating resources:

i93 however, Northern California's summer reserve J

"'75 margin was as low as 41 percent.

The Rancho Seco nuclear power station, a 9:3-o to M.o r 2.o iho l

N w Crsmm us iThousandst megawatt unit representing SN1UD's largest resource.

generated.7 billion kilowatt-hours during 1979 5

Helping to Meet T ;,' i

! VD

' i Ilie Challenge W

(

of the &&

.n o

j k

I MlUmi$M

, ?'

3 I

Searching for atklitional capacity to generate electricity and working toward conservation of existing resources were major concerns during 1979 SN1UD mosed ahead with new generating project, designed to help supply power needs of the future.

while deselopiag programs to aid consumers in their efforts to consene energy by reducing waste today.

While engineers calculated the potential output of small hydroelectrie espansion projects in the Sierra Neuda and geothermal steam wells in Sonoma. Sacramentans like Richard and Carol Padilla took steps to see that their family is making efficient use of today's energy resourecs.Together. SNIUD and the consumers it senes made substantial progress in luth new resource planning and conservation.

l l

l 1

J J.

Su uAsu no Nlt sicmat. UtiuiT Disimcr I

i l

Like seseral commercial reactor operators, SNIUD Energy audits and seminars for conunercial and j

was required to perform extensive safety modifi-industrial customers are designed to meet the

]

cations during the year.Those mixlifications were specific needs of different ty pes of business.These i

designed to meet more stringent government programs help by providing information on ways to l

standards set by the Nuclear Regulatory Commission improse the efficiency of existing equipment and INRC) following the accident at the Three Niile suggesting new methods and devices to sase energy.

l Island nuclear plant in Penns)hania. Parts of this

!!esidential energy workshops administered by work required that Rancho Seco be taken out of conservation specialists were conducted in the homes senice late in April, but the plant was able to return of people w ho insited their neighbors to participate.

to full power operation in July.

This program was created in 1979 to enable SNIUD SN1UD operates a hydroelectric project hicated representatives to reach seseral homeowners at in mountainous country 6 miles east of Sacramento. each meeting place.

l 4

This Northern California hydro project includes Viewing the heat pump as an energy efficient n reservoirs and six power plants, and has a generating home device. SNIUD adopted a promotional program j

capacity of 630 megawatts. During 1979, the output including cash incentives for builders and home

(

of this Sierra Nesada hydroelectric resource was remixleters who use this type of heating and cooling f

t.7 billion kilowatt hours, slightly below the project's system.The heat pump program offers additional f

merage year of 1.X billion kilowatt hours.

rewards to those w ho include ot her home conservation

(

measures in Iheir planning. Over 2.000 residential units u ere enrol led in ihe program during its first year

(

of operation.

l

ssi uvxnos: Emphasis on electrical There is a need to reduce peak demand for i

energy conservation was intensified during 1979 electricity during summer months due to potential l

resulting in expansion of existing programs and capacity shortages in Northern California. Attempts

~_

. implementation of new ones.

to inform large numbers of customers of this need j

d'

(

,M tileavy Electrical Load Periah.'en known a resulted in a mass media campai Portions of this

[

'J campaign were employed by utilities in other areas M

.g of California. SN1UD mailed li.E.L.l! " pledge" h.**..

,,'t cards to every customer, and over aoaxw> returned e-f g

j the cards with their pledges to conserve especially

+

3 dunng peak use periods.

ao b,,

~

M h

wi t

^

1.

n ;,4 %

• ~.

m

• t.

-m-(

4 m M

,,n.m l

? +

pr o

f g,,

{

.u.

I'la.n for ima/I hysro. /c. mc oad cycling desice on the l*adilla home's central air conditioner helped SN1UD study the effectiveness Jcich rment moved shcad-of this means of reducing peak demand during hot summer days and pool filtering equipment was only t hn enorr in cirand a hrine op. rated during off-peak hours. In 1979, approximately taxx> homes were enrolled in the air conditioning racaa.ci couta rncra

e escling experiment, and SNIUD reached over 2oaxx> pool owners with a special infonnation program to.ooo.o,,o A,bu. art.houn or ch tocirr annua!A Th.

asking foi their support.

Imt stave of ahis enpavion is

1. he.fu!cJ to be npcmnonal b r Ic) %I.

i\\i r.I i i 'llsi'I s j f I. b[]

){ g g'{,[l]}g,jfy

,gg lg ll gaggg'g f lllll l ll l l/\\ l )

k

) },gg

,4 l l l[]g f { y'[]g u nume r peak ilem mil \\ I...n l r ei:ns in n e sper micin cio t ush mer u n s es s i.nilui teil ilur me t he s c.o u n h i tewnc. I h. mee t he clici in eness +1 a u <.nilu n qune spes i d auent o in plat cil.n enci n. uni pc ples

. u h n c c.p u pinem a n i i,ntin ucil \\ ppo.s u na n is

.u n t uiles n 'u.uil t i,nsci s.u n >n I he icsuhs i lleicil i

i

, n., mci.u ne r s p.u r n ip ucil. uni N\\11 I ) pl.msi.,

sescial m uchs

,,m,_,,..n_em,_,_,_

im,N__,u.___,,n_,.e tu.uc a reilut n. n.,1..n c L i h >u.u i pe r 1 ush mcr ab i'l v s ul nsues uni belunit milatn n. mil crime i

is pi su hic r h n o c h h..n l < u h n e

\\ 1.si ust. unci s sm s cs i il u cic an.u c.I t he uccil

% \\ll I I c ui i o n a ges su u n n u n e p.

l. 'u nci s r., use h,<

insci s c but m.un u cr e un.iu.u c I hi n ihen i

nhcr me pumps,iur me. ill peak h un s riu..u. h spct ul cic< t r u o s u.n pn slui cil a h er v pen ent. il r h. sc m.ulmes.un l ilu ct i t i qu a< is I he N.n i unenti area uc s es cil e.n c rhe m,umer n' w hich N\\ll 1) n h.n. 4 ci ii,i p. <,ls i c pr esen n n e a svea ble elet t r ical i >pci a rcil In ch m.u k s

. lci n. mil \\s a inuh rins pn er.un n i. nsnleicil a Inc!ul llcak r cilos i n e h tiil P.u t u ipain n m spei ul e slu bu s. uni sin u s W.n 8 0. N I l(I ( ln A

\\ll cNlill).It etlill llicllch niilCs i sl).lln icil fi. I'Cilcl f illi 'l li s llle W'ilci,Il l) lit 'llt. ilk $ll!

clici in e t. quei s u n n mc.nuics I hn citiqi

..! unilc r eri >unil t i.nihn h >r u cr e mstalleil iturme Ilit li il sl h itisi I llli'.1 s jit i 1.11 l l li i'i' il is sin in (,1llcil ll]c s t %ll.,lilil $ '.. '" ' l.1 M N D W,[5 [ \\ p([h lC(i < Q] C \\ hl]}Mi d}

ills

} neies I sp. u hu h w as !cuencil h, mh o m the

. t t he ilniiihur n in ss sicm eenc al pubin al=.ut s he l.u csi m enci es s i oisci s.u n in

( ic a s t i.mplercil ci enst r ut i n >n i >l a il o n = r u >h pushu n.unitechnujucs i h et u n i.< = = i.in eniletl hnc iluct ils hnkine lhe i cnnal cus elecinc sssicm Ui ( u lllt i'illk.Iti 4 s.lin i st in lCllls Illfi'llMlleil u llll lif f ll e.1 s* 411 h i'l h.lC1.llnenli ' Ihisinerbe.hl slutu o a>

\\n enci:

..nse r s.u n.n n i.nl shi u p iu cr lme spans u s,uul iine qu.u ter nules i

ciba.ucil.uul cin ci t.uncil si nne t p = = > anil N \\11 l )

\\ bulk p. iu ci substat n in m N.h r amenh is ni o t h ilcIl)ct I l. iles c h.[1.ill c!Ici es t l lilcllllini li ti lne

.t i c.I u.is placcil In sCl s lce In \\llpinl. I h Cl h i.hleil m si h..< >ls i h n o te hi u r ( ahh inu p< in er h nes sci s uig t he.u ca u cic.uileil w hen t he i

('arma hael Nubstatnin u,n energi/cil I he new sub-h st.un n is c innectcil h %\\ll I rs nansnunnin piul ns.mnse,.e... m.h m er i,mc u n,cn ci,mnmes l

I < >t h (u ct he.nl anil uinlei en > unit ciinsn ucin in.

N s

G.

1.g.

4 g

d

\\...

s 5

m v.

g, k

1 i

SA(nAsu.sto AthK WAL Ulit HY DsIRICr

]

4 i

Another 230ax n-solt transmission line is being con-I. sot Rct Ptmsiso: SNIUD's search for i

structed to connect the Carmichael Sulwtation additional generating resources took several direc-l to a second piint in the transmission system. When tions and met with both success and disappointment

)

completed, this line will increase the substation's during 1979 senice reliability.

Efforts to expand SN1UD's existing hydroelectric l

Ground was broken on the fiethill Service project moved ahead, and other potential Northern r

Center, a 27 6-acre project in the northeast corner California hydro developments were ekwely studied.

l of SN1UD's senice area.When completed, t he Foothill Advance work on three separate expansion proposals j

j complex will combine a bulk power sulwtation to make more effective use of available water to meet rapid growth in the area and a complete resources is under way. The first of these, a mini-operations center.

generator to be hicated on Slab Creek, is scheduled to be operational by 19 1. Other hydroelectric bnd was purchased in southern Sacramento 8

[

County near Elk Grove for possible use as a site for project expansion plans include diversion of water I

another bulk pmer sulwtation and materials storage from Ice flouse Reservoir through a new powerhouse area. Initial studies leading to an environmental into Union Valley Reservoir, and diversion of water

[

impact report for a south area facility will not be from the Rubicon River into leon Lake.These completed until mid-19 0.

expansion efforts could net SNIUD an additional 40 8

f Niajor modifications on security and fire protection million kilowatt-hours annually.

systems at Rancho Seco nuclear pmer station SN1UD took a major step toward development continued throughout 1979. Expansion of security of a geothermal generating resource during 1979 facilities, improvements to fire protection systems, Exclusive rights to steam from a 4oo-acre site in and additional plant upgrading resulting from Sonoma County were secured following negotiations Three N1ile Island were required of all commercial w hich began la 1977. SN1UD's first geothermal nuclear pmer plants by the Federal Nuclear power development is expected to provide 55 mega-Regulatory Commission. SN1UD spent $i2,421.<xxi watts of electrical capacity. The Sonoma plant is on this work during the year.

scheduled to be in senice by 19 4 8

Plans to share in the output of a large fossil-i fired generating station were announced by SN1UD during 1979. After several years of advance work, Pacific Gas and Electric Company plans to build a two-unit power station capable of generating 1.(xo megawatts in Solano County. SN1UD plans to own a 200-megawatt share of this station.The Solano project is expected to go into senice in thelate 19 s.

N

[

_,ge=-

u.

Righn to geothermalsteam Assuring that their home's attie insulation was up to the recommended R-i9 standard was one of the first from nelle to /,e drilled m steps taken in the Padilla's drive to consene, and they shared what they learned about home weatherization sonoma counn ncre securnt with neighbors by hosting an energy workshop and inviting a SNIUD conservation specialist.

In s \\fl *D tullwunveteral s can of ncevraatron. This udt aJJp meganatts vt uencr-ating capacury, and the Sunoma plant % scheduled to ya into sers ice m 161

i h.

sac nAsnxio htt:siciPAL U rillTY DIVf RICI i

1 i

j Citing the tremendous cost of fuel oil and relue-judgment in favor of the United States.The District j

tance to further increase national dependence has taken an appeal from this judgment. Pending on imported encrgy supplies, SN1UD cancelled a conclusion of the lawsuit, the District is paying into combustion turbine project for which planning had escrow all billings for Central Valley Project begun in 1975.The 160-megawatt project was to power in excess of those based on the pre-htay 25, l

hase helped meet system capacity shortages forecast swHrates.

for the Vos. SN1UD had expended $133 million In November of 1979, a group of electrical j

j on preliminary design and licensing work.

contractors filed a lawsuii charging the District with attempting to monopolize the markets for electric distribution systems and street and outdoor lighting L1 GAL Acitoss:

systems in the District's territory. The contractors During 1979, the District have asked for injunctive relief and for damages of and the Ibeific Gas and Electric Company agreed to approximately 5 4 million.

5 I

submit to arbitration the PGandE claim against in October of 1979, one of the District's employees i

the District resulting from plant outages at Rancho filed a class action charging that the District had Seco in 8975 and 197. Under the agreement, discriminated against women and minorities in its 6

l PGandE abandoned a portion of its claim so that employment practices.The complaint seeks injunc-the amount in dispute is now approximately 53o tive setief and damages in an unspecified amount.

million instead of approximately 5 0 million.

7 The Western Area Power Administration (WAPA),

an agency w hich administers the power marketing functions of the Cent ral Valley Project, put into ef feet isAsciAL: Power bonds sold in 194 to finance 6

an interim rate increase of approximately 93 percent SN1UD's purchase of the electric distribution effective h1ay 25,197, and an additional increase system then serving Sacramento were paid off in 8

of approximately to percent effective November i, July. The electric system's value was listed as $13 9 1979. These increases are subject to review and million when those bonds were issued. Ihmk value approval by the Federal Energy Regulatory Commis-of plant at the end of 1979 was over Styx > million.

sion.The District contended that ti:e increases are not in accord with the rate modification formula in its power purchase contract, and the United States filed a lawsuit to resolve this dispute. On June 25, i979, the United States District Court granted r-7 g

=

Am 6.

r M

',M P

..t ank" "=

~

e i

I.

L*

Q-wt

.,7

..i A Jw

.m r=

Recognizing the significant role that youth will play in the conservation efforts of the future. SN1UD sends an energy road show into area schools to educate and entertain at the same time.This highly visible part of the oserall conservation education program reached an estimated 3_pxm in 1979. The Ibdilla children (Curt, Cindi. and Caren) participate with their parents in the family's effort to conserse. In doing so, they are learning good habits which will last a lifetime.

I

)

7 SAcnAsnxio Niesima UIruTY DIST*WF 1

1 4

1 i

1 4

j SN!UD completed issuance of $30.<xxi,cxx>

earlier and the second nuclear unit at the Rancho j

in long ter.

lectric revenue bonds ISeries !!) in Seco site. The total write-off for these two items was j

September. This issue was rated Aa/AA by Nkody's 52,492.000. The financial statements also reflect a

and Standard & Ibor's, as have been all previous the fact that the Rancho Seco nuclear plant did not a

j SN1UD bonds.The Series 11 tends w ere sold at a total require refueling during 1979 as it has in recent j

eff ectis e interest rate of 6.751 percent.The success-years.This reduced the total operation and mainte-fut completion of this sale reflects SN1UD's excellent nance costs by approximately S4 million from what reputation within the financial community.

they would have been had refueling been necessary.

SN1UD and the International Brotherhood of At years end, SNIUD's capitalization was 5 :3,008.0tx>, of which 42 3 percent was equity.

l Electrical %rkers ilBEW) were unable to agree on 9

j a wage and benefits package for hourly-rated Net revenue for the year was 527 477.<xxi.The revenue employees during 1979. As a result, the District's lond debt senice coverage ratio for 1979 was Board of I)irectors adopted a 10.23 percent wage 2 34 times.

A 19 0 budget totaling $238,433 <xx was approved i

increase for the bargaining unit in January,19 0, 8

8 but the group went on strike for four days following by the lhiard of Directors in December.The new

(

the Board's action. %rkers returned and nego-years budget includes $ t.o77,(xx) for capital 9

)

tiations continued until agreement was reached on expenditures, excluding nuclear fuel purchases.

a two year package in February.

While no electric rate increase was adopted during 1979. extensive advance work leading to an early i9 0 increase was completed.This work included the 8

formation of citizens' committees to obtain public WiuiAsi O. BAmn input on rat e making policies.These committees viere President established to comply with requirements set forth in the Public Utility Regulatory Policies Act(PURPA),

a part of the National Energy Act.This activity culminated with the adoption of an 18 percent rate increase to be effective on N1 arch I,19 0.

Wst. C.WAumitxm 8

j During 1979.the District wrote off the preliminary C,eneral Manager design and licensing costs for two generating projects

{

-the 160-megawatt turbine project mentioned l

l f

i.

$ Q & e w e'.'3 Qf ht x;;

i YglA k]4) Ek '

9

-A7 tit.

1DWM J u y a 0, (P}Q>

m f)C1i?

~

,2 ;

Y C

{,

k 1 &'c] f G mYr ' f$[

\\

\\g' l

3,, kn^

fC

+

1%ns to share in Cahjornia\\

L-:,Y,'

~

^

f:nt coal tord generanne

[

f 7

station were bemg formulated. [

1( 3 The prormed two-u nit 1 %

comp let to be iu ratcJ on

~

h!ano County wdlgenerate

.{

INo megawatts.

=*

P p-j.-

x, a

m

=.

8.

SMRGHNIO ML NICimi. Ul:UfY DIS'IRKT i

I I

Decernbcr 31. It)N and sy7h Balance Sheets Aucts 1979 1975 Electric Utility I'lant:

7 Plant in service, at original cost Sh o.320,052

$817 25 J18 t

8 Less - Resen e for depreciation 162,537,313 t 4 r,333,4 7 6

o 5677,772,739 5673 722,58:

l Construction work in progrew 60,8(w),839 30,704.6 0 4

Nuclear fuel, at cost less amortiration 90,82,386 6.o7i,i27 3

l 5829 453,9 4 577i.49 6 8 6

8 4 i

Reserve Funds, cornisting of cash and securities at cent which atysmxirnates anarket:

}

For Resenue llonds iNote 31 527,9388 5 23.o6 M3 8 9 4

i i

Carrrnt Anets:

Cwsh and marketable securities, at cost which approsimates market-General Iund 5 52,591 937

$ (t134 677

[

6 For payment of debt senice i387,939 13 7o2.663 7

Acerued interest receisable 2,.129 975 1,hKl,X99 t

Accounts receivable,lew resenes of $3 7,tu n and 5243 000, 8

I respectively 9 977,2(x) 9 pp),51:

Receivable from sale of surplus power 9 358,823 3 316,362 4

Materials and supplies, at average cost 13,I57.849 i r,36i.oi3 Prepayments and special deposits I 315.<xi2 697.8 2 3

Purchased power rate increase -

t

!! serow deposit INote 6) 8,755,277 l

4 t

$iiI,4 4,083

$lo3.(xx)J W M) 6 Deferrrd Charges 5 5,200,258 5 5,709,6 6 4

$974,103,203 5 07,282.186 9

i The accornpanpng n,ites are an integral part of these balance sheets.

]

it 4

i b

1 m--,

.,--.--_4, m +

3

--y-v,,.--.,-w.-

')-

Custanten' Equity arul Liabilities 1979 1978 Capitali:ation:

Customers' equity employed in the business-Italance beginning of year 8

535 791 438 5329,210 379 Net revenue for the year 27 476,995 29,58 059 4

Total customers' equity 5386,271,433 535 79143h h

Long-term debt tNote 2) 526.73,445 493 204 33; 6

$ 13 007.8 8 Sh5199N972 9

7 Current Liabilities:

l Accounts payable 5 15 74,734 5 19^1 M5 8

5 l

Acerned salaries, wages and vacation pay 4 204,281 3 668.639 Long-term debt due within one 3 ear 16,4 4,774 16.o55,829 8

Acerued interest on long-term debt 7,o53.639 6 351 bhh Customers' deposits 2,619,14:

2.288 346 Purchased pimer rate increase (Note 6) 11,797,243 4.o37,43:

Other 3.I8 513 3 032q)6 7

5 61,o95 325 5 53 283 214 Commitments (Note 4)

Contingencies (Notes 5,6,8, and 9)

$974,103,203 5 07,282,186 9

10.

SACI(MIENro MtwiCriwt UriuTY DisliUCT o

Years ended December x ' g9 and 19p Statements of 1979 1978 Net Res eritie Opemting Revenues:

Residential 5 60,83,900 5 33,955 3i5 6

8 6 Commercial and industrial 52,643,857 1 44,174 Sale of surplus power (Note 5) 35 382,315 31,557,976 I,3 4,498 1,263,3M 6

Other Total operating revenues

$150,227,57o 5:33,222,8 3 3

Operating Erpenses:

Operation -

Purchased gxmer (Note 6) 5 i4,972,257 5 11,739 904 Nucicar fuel used for generation 21,212,516 13,50747o Paiduetion Io,730,213 8,627,324 Other 20 528,3M 17,126,324 6

Abnormal generation plant maintenance i Note 51 (2,i394 3)

Other maintenance 1595342 17,33o43o Prosision for depreciation tNote 1>

22,6ty4,566 21,768 744 Total operating espenses 5:06,o91,327 5 87,9 % 753 Net operating resenue 5 44,13,243 5 47,242 oSo 6

Other income:

Allowance for equity funds used during 8

construction (Note 1) 2 o35,702 9m,7 7 6

5,3 0,885 Interest ineone and other 6,241,335 Net resenue before interest expense 5 52a:3,28o 5 33,3c3 752 Interest Expense:

Interest on long-term debt 27,130,26 23.o32,873 Allowanee for bornmed funds used during construction - credit (Note 1)

(2,193 97 )

(i 113,ik) 6 6

8 Net resenue for the year 5 2747,995 5 295 4,o39 The accompan3 ng notes are an integral part of these statemenit i

i

II.

SAcPuitxro Mu.sicirAt. Unt.nY DisTntcT Years ended December.ir, i979 and 1978 Statemems of

,9,,

,,,s Changes in FinancialPosition Fumhprovidedjrvin:

Operations-Net cesenue for the year 5 27,47,995 5 295K;959 6

Add non-cash charges -

Depreciation 22AJ4 566 21 768,744 Write-off of generation projects 2,491,945 Add interest on long term deb 27,130,261 25,o32,M73 Tistal asailable for revenue bond debt seivice 5 79,793,7 7 576,38.66 6

57 Add-Nuclear fuel used for generation 21,212 5:6 13 507,47o Total asailable for total debt service 5:o1,006,283 5 8.&j3,i46 9

Sale of electric revenue bonds 50 ooo,'m 40 000 m0 0:her 6 h,330 9

Tiital funds provided

$151.006,283 5 t30 591,476 Funds usedfor:

Debt senice-Resenue bonds 5 34,o40,486 5 31,13,192 6

General obligatien bonds 8,9:2 377 9,26 523 4

li>tal debt senice 5 42,952,863 5 40,400,715 Additions to plant and nuclear fuel 103,7o7,o51 68,172 3 2 6

Increase in working capital 62,93 4 6 6

20 53,194 Additions to reserve funds 2,919,o15 8

1,4 2,205 Other 78 39:

4 liital funds used

$151,006,283 5:30 59i.476 l

Nurnber of tirnes d >ht service is covered l

byfunds available:

Revenue bonds 2 34 2 45 li>tal debt 2 35 2.23 The accompanying notes are an integral part of these staternents.

12.

SAcn,unxio Musiamt. UuuTY DISMCI December 31.1979 and 1978 Notes to son: r. Snniany or Siosu icar Accocsuso n>ucirs on:ani:arion and Evemerion rmm income ram.

Firtaircial The Sacramento Municipal utility Districi was formed and operates under the State of California Municipal Statements Utility District Act.The Act confers upon the District the rights and powers to fix rates and charges for commodities or ser ices furnished, to incur indebtedness and issue bonds or other obligations and, under certain circunnrances, to levy and collect ad valorem property taxes.The District's power to levy property taxes is reso i by the California Constitution, Article XIII A, which places limits on the taxing power of all Calif, public agencies.The District is exempt from payment of Federal and State income taxes.

3/ethod of A. mmtiml. The District's books and accounts are based upon the Uniform System of Accounts for Public Utilities and Licensees prescribed by the Federal Energy Regulatory Commission, the same accounting system which investor-owned electric utilities operating in California are required to follow.

Depreciation and Amortiration 3/ethods. The District prosides for depreciation on the historical cost of electrie properties on a straight-line basis at rates determined in engineering studies. The average annual depreciation rates for District plant in 1979 and 197M were:

i 1979 197M intanphie plant 3.n%

3.o6%

Generanon -

}{3 ro I.43 1 33 d

Nuclear 3 3n 3 33 Transmnsion 2.62 2.62

)!%Iribution 3.t N) 3 01 Genuat 3 47 3 92 Composite 26 2 91 The costs of replacement of property units are charged to plant. Repair and maintenance costs ne charged to expense, including such costs associated with refueling Rancho Seco. Rancho Seco was refueled in 197h, but not in 1979 The District amortites the cost of nuclear fuel on a unit-of-product on method, based on the original i

cost of nuclear fuel plus estimated costs of disposal escala:ed for inflation to the anticipated time of disposal.

A#owancefor Funds U3cd During Comimetion. The total allowance for funds used during construction in 1979 and 1975 amounted to approximately 3 9" and 5%, respectively, of eligible nuclear fuel and plant 5

under construction.

Retirement Plan. The District's employees are covered by a contributory retirement plan administered by the State of California Retirement System.The District's policy is to fund retirement costs as accrued and contributions for 1979 and ig7 amounted to $.1n.000 and 5.p>S.ooo. respectisely.Reflectingimproved M

3 4

benefits of the plan and actuarial studies, the District's rate of covered payroll contributed to the plan increased from 13.f"a to 15 31% effective July 1,1978,and to 17.i9% effeetive July 1,1979.The State Retirement System has reported that the District's share of the actuarially determined unfunded obligation as of June 30.1978. was approximately 550 moo.ooo.

l l

/J.

SAcnAm.sTo MUN!GPAL UTiurY DISTniCr N ICS If f

NoTt 2. Insommi Durr long term debt outstanding at December 31.1979 and 1978.was as follows:

Financial 1979 197M

.$,laternents General oNigation Bonds -

,p Power Bonds of 1938 includmg prernium.

5 5

6 0,359 4

1.lectric flonds. 2%,19 o to 1990.

6.14p m h

6.b6.000 4

Buikhng flonds, 4%- 4 i%. s9 n to 1992.

6.s mum 6 42o,tm A

SAtt'D flonds. Series C.

4% 4' m%,1y%, to 19As 13.trnu m 19,200.000 Rmntw Bonds -

l'pper American River Project Relundmg lionth.

jW%3 w".19N. to 199:

go. r m u m 53 500.osu 4

Wlore Rock Projat ilonds-Series A and B, y i%-3 A, ty% to 2my 34.645am 35 475.cm 1

Series C and D. 614% 7%. r9Ni to mio 9 4 mum 55.Naum Dectric Sprem Bonds 3%-3 m%,19xo to 19x3 4,u xu m 5 115 000 i

Electric Revenue flonds.

Series A-ll. 4 i%-7%, suXo to 20 9 t

3735tuu m 326,ootum Iotal hmds 5 p.9 9a m

$ n9 041359 5

8 5

Purchs Agreements.1* +%-hi %.1 80 to 200o 1 392.705 1431,M r7 i

9 5544 381,705 5510 47M,176 Less - Bond discount, White Rock Project. Series C 1.16n.4%

i.217,813 Less-Amount due withm one year th,4 a.774 16.o35.h29 k

5 26.736m3 5 w 3.204 53 4 5

NOTE 3. Rr_sravn Ft3 sos ron Rrxrsen Bosos Reserve funds for revenue bonds at December 3t.1979 and 1978 were as follows:

1979 1978 i lectrie System llonds 5nmum 5 f.ogh.6 2 7

Deetric Resenue Bonds 20.go s.565 16.86.376 5

% hite Rotk Prosea Bonds 929 9 %

929 986 All Parily Bonds 5 552,347 6.212A49 l

527.9 38 8 525a6 Eh3 8 9 Nori:4.CossTat cr:os PaocnAu Aso NectrAn Fett Pi acilASEs Estimated construction and nuclear fuel expenditures in 19 ) are 5 1.o77sxx> and $40 335.oc ), respectis ely. The total cost of nuclear fuel under N

9 i

contracts for future reloads (covering t he period 19Ni to 19hM is estimated to be approximately $186Jxxvxn NOTE 5. RAscito Seco NecLEAR PLANT In April 1975, the Rancho Sceo nuclear plant began commercial operation, and the Distiiet's surplus power billings to Pacific Gas and Electric Company (PGandE) since hat time have been rendered in accordance with the terms of the 1970 Power Sale. Exchange and Integration contract with PGandE.The contract prosides Ihat PGandE shall purchase the District's unused generating capacity, the energy generated by that capacity and also the surplus energy generated by capacity used by the District. Under the contract. payments for capacity continue during periods of plant shutdown, although payments for energy do not.

On June 30.1973. the operation of the plant was halted because of a failure of the rotor discs in the low pressure turbines. The turbine rotors were replaced, and the plant went back into operation in late February, 197. It was again taken out of service in early April 197 for replacement of the generator stator windings 6

6 and was retumed to service on October to,197. As a iesult of these problems:

6 Y

9

L/.

SAcRANIENTO N1UNICWAL. UTIUTY Dis'IWCT NotCS /0 til in 1975, the District recorded 55 850mo, consisting of 5,350. ooc turbine rotor replacement cost less 9

Financial s3.wu no of anticipated insurance recovery, as Abnormal Generation Plant N1aintenance" The 59 330mo 8/tt/C//lC///S turbine rotor replacement cost included billings from Westinghouse Electric Corporation which the kontinued; District had not paid. On October 3,1977. Westinghouse filed suit agaiast the District. On Nosember y, 1978, all parties to the litigation reached a settlement agreement under which the District paid 5 337,500 to 3

Westinghouse and received payments and credits totaling 52,1(nyx x) from other parties. This settlement resulted in a net credit to " Abnormal Generation Plant N1aintenance" of approsimately 52,t39 000 in 1978 t2) The District and PGandE are in disagreement with the treatment, under the terms of the 197o contract, of the matter referred to in i ) abme and certain other matters affecting the billing of surplus power to PGandE. The District believes that the final resolution of these disputes will not have any material adverse effect on the accompanying financial statements.

In June,197. PGandE filed a claim against the District alieging that the matters referred to above 6

13) indicate that the Rancho Seco plant did not become commercially operable in April 1975 and that the rights and obligations of the parties continued to be controlled by an earlier contract.The claim seeks recovery of approximately $5oaxxuxxi alleged to be the difference between payments due under the two contracts, and also sought recovery of $2<uxxvuo. plus additional costs expected to occur after the filing of the claim to replace capacity and energy w hich it should hase receised from Rancho Seco, The District and PGandE have executed an agreement whereby PGandE has agreed that any award or judgment it receives based on its claim will be subordinated to the rights of holders of documents evidencing indebtedness of the District issued prior to the date of such award or judgment, and has further agreed that amounts. including i

interest, collected or offset by reason of such award or judgment during any month may not exceed six percent of the District's opera-ing resenues from retail sales during the preceding month. On May 30,1o79, PGandE and the District signed an agreement submitting the claim to an arbitration panel. Under the agreement, PGandE has abandoned its claim for ihe 520.ouvoo and additional expenses alleged in ihe claim to have been incurred in the purchase of replacement capacity and energy While the outcome of this dispute cannot be predicted with certainty, the District believes that it ha< meritorious defenses and. in addition, that an indemaity provision in the contract under which the P (riet purchased the Rancho Seco turbine generator from the Westinghouse Electric Corporation obliga: s Westinghouse to pay any judgment w hich PGandE may obtain. The District also asserts rights of indemnity against BaNock & Wilcox Co. and Hechtel Power Corporation.

Nort 6. Pt nctiAst:1) Ibwtn RATE INCREASE On N1ay 25, sty 78 and Nos ember I,1979, interim rate increases for power purchased from the Central Valley Project iCVP) were placed into effect by the U.S. Department of Energy. The estimated annual billing increase to the District under these interim rates is approximately SU million. The proposed rates are subject to further review by the Department of Energy and must then be approved by the Federal Energy Regulatory Commission. The District is presently paying into escrow that portion of each monthly bill representing the increase over the rates in effeet before Niay 23,1978 (at December 31,1979, the balance in escrow was 58,755.om), pending conclusion of a lawsuit filed against the District by the United States to obtain a judicial ruling on the District's contention that the criteria being used in the rate proceeding are not in accord with a rate modification formula in the contract under which the District purchases CVP power. On June 25,1979. the United States District Court for the Eastern District of Califomia granted a motion for summary judgment against the District. On July 20,1979, the District filed notice of appeal to the United States Court of Appeals for the Ninth Circuit.The District cannot at this time estimate how much, if any, of the amounts paid into escrow will be retumed to it if it is successful in the lawsuit, Currently, the entire billing increases are being included in Purchased Power Expensc and recorded as a Purchased Ibwer Rate Increase, current liability (at December 31,1979. t he balance of the current liability is Sti,797oooh 1

l l

15 SACRA %HNro MUNICmAL UuuTY DISUUcr Notes to goTn 7. smc3n pnot,,xry Asn UAniun IsstnAscE The District is required to maintain liability Financial insurance and a rederal Government indemnity agreement for Rancho Seco to insure its maximum liability 8/ule//lell/S under the Price-Anderson Act for any third party personal injury and property damage claims arising (continuedi from a nuclear incident. On June 26.1978, the United States Supreme Court upheld *he constitutionality of the prosisions of the Price-Anderson Act which limit the liability of the owners of nuclear plants to a fixed dollar amount, presently 55 0 million per nuclear incident. Recent amendments to the Price-Anderson 6

Act provide that, in the event of a nuclear incident, licensees of operating reactors may be subject to a retrospective premium adjustment to satisfy a portion of the maximum liability limit. Commencing August i,1977. a nuclear reactor operator may be assessed 53 million per reactor for a nuclear incident at any commercial power reactor facility in the United States with the assessment not to exceed Sio million per reactor per year. Undes ;his legislation. the retrospectise premium program becomes effective only when the insurance limits of Sibo million obtained through the American Nuclear Insurers t ANil and the Niutual Atomic Energy Liability Underw riters 01AELU) have been exhausted. In that instance, the District's masimum exposure would be 5m million per year.

In connection with the incident which occurred at the Three Nlite Island nuclear power plant on N1 arch 28, rg79. the District has been advised by the ANI's in-house claims counsel that ANI does not believe that the primary insurance limits (Sibo million) will be exceeded by ultimate judgments or settlemeno although special counsel retained by ANI has not yet completed its (esiew of the legal and factual determinants of liability. Therefore, a provision for retiospectise premium adjustments has not been made in the accompanying financial statements for the year tnded December y.1979 Nuclear property insurance for Rancho Seco is purchased from ANI and the Nlutual Atomic Energy Reinsurance Pool OfAERPL The District maintains the maximum amount of financial protection available, currently 5 00 million subject to deductibles ranging from 523oaxio to 5i,350,000. Nuclear property 3

insurance is an "all risk" cos erage w hich omits the standard nuclear exclusion normally found in conventienal property policies.

Noti:8. Recito Stro Sutm>oww in accordance with a Nuclear Regulatory Commission Order, Rancho Seco was shut down from April 2X 1979 until early July,1979. On July 6,1979. the District was informally advised by PGandE that it intends to submit a bill for 51.290.000 to cover costs incurred during N1ay in obtaining capacity from the Bonneville Power Administration to maintain adequate and reliable sersice within the Northern California area. PGandE has indicated that the bill will be rendered under a provision of the District's 1970 Pow er Sale, Exchange and Integration Contract with PGandE which states that PGandE i

shall make capacity available to the District in the event of outages at no charge except to the extent that such outages cause PGandE to incur additional costs to obtain capacity from outside the Northern California area. PGandE has further indicated that the District may expect additional, similar billings based upon other I

purchases of capacity as a result of the Rancho Seco shutdown for the months of June, July and August of 1979. The District is investigating these potential claims, which have not y et been formally submitted; however, the District belieses, on the basis of the information presently available, that PGandE's purchases of capacity were caused by delays in completing its own scheduled generating facilities and its consequent failure to maintain the reserves contemplated by the 1970 contract, rather than by the shutdown of Rancho Seco.

Nianagement is unable to estimate the amount of the potential claims or predict what effect,if any, the ultimate outcome of hese potential claims will have, but is of the opinion that theeffect on theaccompanying t

financial sta.ements will not be material. Accordingly. the accompanying financial statements for the year ended December y,1979 o not reflect any provision for such PGandE billings.

d

I/L SAcnAsnmo hicNcieAt. UTILITY DISTRICT Notes to Nou 9. Asmnest SciT in November io79. a lawsuit was filed in Federal court by 13 corporations Financial engaged in the electrical contracting business charging the District with 5iolation of the Federalantitrust laws Statements The suit alleges that the manner in which the District has supplied the nurkets for electrical distribution unnnnunn systems and street and outdoor lighting systems has been unlawful and unfair and has forech> sed and destroyed competition in those markets. It is claimed that as a result of the alleged siolation. plaintiffs have been injured in their business or property over the preceding four-year period and that their h>st revenues and profits are presently estimated at 5 7Notuxo. The plaintiffs are seeking damages in the amount of 533anium Such amount is triple the estimated loss which is the legal criteria prescribed where a violation of the antitrust laws has occurred.

51anagement is unable to predict what effect,if any the ultimate outcome of this lawsuit might have on future operations. but is of the opinion that the effect on the accompanying financial statements will not be material. In addition. outside counsel for the District has indicated that, based upon the present status of the proceeding, it is his opinion that the District has meritorious defenses in the cave and that it is proi able that the District will ultimately prevail in the outcome of the litigation.

Nort: io. RinAssIMCATloNs Certain amounts in the December 31,197h Balance Sheet and Statement of Changes in Financial Position have been reclassified to conform with the presentation used in the December

31. u,79 financial statements.

]

A U(//to/~s'lleport To the Iloard of Directors of Sacramento N1unicipal Utility District:

We have examined the balance sheets of Sacramento hiunicipal Utility District (a political subdivision of the State of Californial as of December 31,1979 and 197. and the related statements of net revenue and S

changes in fmancial position for the years then ended. Our examinations were made in accordance with generally accepted auditing standards and accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessay in the circumstances.

As discussed further in Note 5 to the accompanying financial statements. Pacific Gas and Electric Company filed a claim against the District in June 1976. alleging that outages in 1975 and 197 indicate that the 6

Rancho Seco plant did not become commercially operable in April 1973, and that the rights and obligations of the parties continued to be controlled by an earlier contract.The claim seeks recovery of approximately

$ 0.tuxum The District belieses its position on the claim will be upheld, but the outcome cannot 3

be determined at this time.

Also, as discussed further in Note 6, during 1978 and 1979. the U.S. Department of Energy placed into etteet interim rate increases. The District has recorded the related billings as purchased power expense and is currently placing the funds for payment in escrow because the District contends that the interim rate increases are not in accordance with its purchased power contract. The United States has filed a lawsuit against the Dist rict to obtain a judicial ruling on ibis matter. The District believes Ihat its position will be upheld but cannot at this time determine how much, if any of the Sir.797sm liability will have to be paid.

In our opinion, subject to the effect of any adjustments that might have been required had the outcome of the matters discussed above been known the financial statements referred to almve present fairly the financial usition of Sacramento N1unicipal Utility D strict as of December Ji. u)79 and 1978. and the l

results of its operations and the changes in its financial gusition for the years then ended. in conformity with generally accepted accounting principles applied on a consistent basis.

l San Francisco, California ARTittu Asni:RsiN & Co.

hnuary 30, NN l

17 SAcReu:NTO MUNICH %1 UUUTY DISTRICT U

UY Operating statistics 1979 1978 Summarv

~

Customers at Year-End 324,438 309.735 KWil Sales (in thousando:

Sales to Customers-Residential 8

2,6 8,806 245,990 7

Commercial. Industrial, and Other 2,792,225 2,6,86 9 7

'liital 5471,o31 5,15o N 6 Sale of Surplus Power 3 533 885 3081 911 Ti>tal 9.cxy,916 8.23277; Resenue lin thouwmds of dollarsi:

Sales to Customers-Residential 5 60,837 5 53,95c Commercial, industrial, and Other 54,008 49 7,o liital 5 114,8 5 5 103,665 4

Sale of Surplus Power 35,382 31,558 Total 5 150,227 5 135,223 Aserage KWil Sales per Residential Customer 9,446 9Jk):

Aserage Revenue per Residential KWil Sold 2.27c 2.19e Power Supply tKWilin thousands):

lisdroelectra Generation 1,673,322 i,705a97 Nuclear Generation 5,7:7476 4@5,8:2 Purchases 1,8 0,289 I.N6,937 9

System Peak Demand-KW 68 I,54,7 5 1 577 785 Equisalent Full time Employees at Year-End i,74 i,678 6

Finar.:ial Statistics (in ihou sands of dollars):

lhtal Ope. ting Revenues 5 150,227 5 135 223 Operating hpenses Purchased Power 5 14,972 5

11,74o Operation, Alaintenance, and Taxes 68,424 54,472 Depreciation 22,fx)5 21 7(*)

Total operating expenses i 106,o9:

5 8,9 :

78 Net operating resenue 5 44,136 5 47,242 Other income 8,277 b 262 Gross income 5 52,4 3 5 53,504 Interest and Other Income Deductions 24,936 23 920 Net resenue for tne year 5 27,477 5 29,584 Times Debt Setsice Eam,d 23 2.2 Bonds Repaid 5 16.047 5 15 566 Electrie Utility Plant 5 829,455 5 771 499 Capitalicition:

Long-term Debt 5 526,737 5 493,205 Customers' Equity 5 386,271 5 358,794

IR'

6LL 619

6Li

6Lt 16Lf

6Lr 641 610 2b4911 ryrrtr i rLf'tih rg t ti6 9t y ty 7ts-t t6 rfte rg rtt gi6 trrtrus rroTLot r of t oil i v(of *LLL I'yLEPLE s 'Lf ru6g 1911'i6c s 'tfL'b iy r9t t tfo r9oiP1f rP19 Lrf s'r rL'oib rPft9of vrot"tri crus tti i'6if CLE

't*49 'rfL tymaLrtiL

-t"t t o'L'lo irfo'yf9 t'roL'g19 fc(OL'rrf f'gio'ofl.

EPh t'161 L

r 6rf&W lih 169 1 yfi'bir Ly(ir6r tigy'cif 9'r tyy(r

'trfo yfo t

• roL'ylg f 6fL trO f 9 o'ofL CP61r61 i

s t i t6L s

t09if s fi' ins s fr"t6L s rhyty9 s rg 9Tt s rfPor s 16 L 1 tfriL

-t i "toi fi-t6L fr"tfo forfiL rgrats rtPLf c l 999 s yL gi t s y i'6?y s lortyi s ytkrL s yorttE s it 9Lc s 'tLyt4$

s t I'tLL ff9Lo rov (ys ry9it s iri rrt s ioThty s 66'tfy s y t hrL s ynirttL s it yLC S -tL'yLi s

li'CLL 9964 y"t61 9900 y r-t i y tty y 119 L'6ry 40 9 9

rr u y 16f3 1 Lfa 0 13 19y3 19 ta 1"t93 PL3 ci s6uiL s'ofy 6fy Torf'yol 29ytt i i'gif f x )t 196I'i rb irptt9ry s 'N('t'orL 9

s'ylo yfc T :si'rys r-tL79rt roL'rrf i Wl f"t r's s 'ysi'yry r'o l g'rNk i rk tf 9i)t Tigyr(tL T9f99ir TTto'CLL l *LfL'yyh N

iPif 9 (

i Dc6ryf i'cLrPs6 i'ro i r ys irif 9ss irxN iys oroPs6 6 tyPss

9ih "1tr i"1tL IPLi 1002

• r't c i r yy 4 ;if9 s ici'rt-t s socr(t9 s % rfy s y t'6tL s yoralf s it 9Lr s

tLriLi s t I'rLL l

s

_ iN <

s L'9 t[

s yriso s

s'o?6 s

6r( t ioT'oo 5

Wyigi s

yP69 9

0 09L fy'yfs i9 yIi it90t 1f'i SE 11-tfi iotx at is' oft roc.69 ro9ir w trL 9 010 Lrt6y LPEL 9-tsE yrxa 5 yfru cL

$ yt9gr s gir ri s fryso s frr ig s firho s c9946 s rirun(

s CLriiL s fyPyt s f trri s fr'o lL s ry9cL s rf9yt s c i re69 s :9 CLL s'rio i'91 yrts9 26r(Ly rfPLL ti oil ior w(g Lwtg s Ir'NsL

$ tf'9 g s

tE' t oL s 9Torf

$ iirto t

$ fy966 s fi'IDI

$ tfOri f

9 r-t9 N r t'h ty 29'729 ri'iyr rT9r'l 1W'9 9 s l'ioS yrtyy 9

ig' fib s

1g'9 2 g

iL'991 s

[9'091 rbtso

$ 16rfts

$ !yrts6

$ !i'tfL 6

s'6 y

!4 16 71 TO To irf 9'991 li'9'tS li'iIV

$ l i'oif 9fniL 9'tfL i'N h i'L?6 f

$ Lfb'IN$

s Lrb'iLW

$ LrrVht s 4oi' WIT

$ )\\t6'of9

$ iLIT 9

$ 't99f(61

$ fI 'liS j

f W

1 s tutirri

$ -tst yrL

$ tLyrS6

$ 't6trgi

$ 906 9 1 s tror(6E

$ ft09gi

$ r09 oy 4

$ f26'r10

$ fro'N(r s zht'roo

$ CLttI6

$ tf 'oi6

$ roy')>/6

$ IWW'Lfy

$ iLo'9'tS W

l lt/.

SACRWINIO MEMOPAL UUUn' DIVf RICI SMUD n,,ard,,f ofrec,,,rs

%,u, o, u n u m,.,,,,,,Jc,,,

lIl[Grillatioll Gru\\ lit usu. Gc e 1%udent Pui W.CtHH RK n rRt> I). C w r Ro Dout o C. Nlt Ci sis Oficers and Executives

% s,. c. M u usun n.i. Gcucrat Tianacer Jons 1. N1 uinior. A nistant General Slanacer and Chief I neiru er

%ss. %. It<,si us un n. A vorJnr GentrJI AlJndecr and Controller W u. K. L un ui. A norant Gene ral 3fanaccr Operatums Ni sst in J N1s ii < >R. A notJnr Gt HerJl SlJnaycr and Treasurer D s na S. k ws rs. An<.rney and 5ccretary neparttnent 3/anagers

% iu i e, 3. co. Dos. Data n occumu N1 un t s N. I)s as. L '<.nstener Relatums tRetircJ December 7t.1.smis ions D.Dt u lianwuoc n A Dhtobuti.m 0,erarmns 7

Ln o A. Yesu u. Dornhution I'lanrune Gt out.s V. I uru n. Distnbution Constna twn 1:ARI. N1. G u;un i t 1, Cu stomcr i rvices

% n i i ui J.11 uniosti. Scrri< e s Jons Y lin 11. fly dro Operations Pnn t ir R. Ild st t K h. Conscriation Dos u o %'. Ilow ros. Consumcr Rc arions l

Gt;poos 11. N11 RHu !. IhrchJscs d Stores Jons i1. N1a in i unwi. Accounting D u L a G. R \\ w n. Generatwn 1 nwncenny J< ins L. R w i u 4. I nancenng j

R n u o J. Roi>wn.t i r. Nut / car Op rations llond Counsel Okuu k. lit FNismos. RowI n A Si to n ii. San Francoco Tn1Trec and /117 ng Agent Ihw os Asn wirr Nuios.u Tui sr s in S uiu.s Aworiutos. San l'rancoco

/

fliying Agents Cinn sw. N. A.. New thr4 li suais Tui > on Swiu.s !hu. Chicaeo Engineers R.%. lli c h no Aw wiu s s. Sacramento Auditors ARtnt n As01uu s & Co.. San Trancoco Financing Consultants b ums Buonn Rs Ki ns Lot a 1sutRroR \\TI 4. Ne>w Forli 3 lain O/Tices Su raw slo N1t ucirAL. U1n n y Do r RicT. tWI S Street. Sacramento. Cal.fornia Hs/7

\\

$SMUD SACR 4VENTO VUNOPAl UTIUTV D!$TRfCT LP 4WA R4 PmuumciA i

1 o