ML19323F179

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Forwards 1980-81 Statement of Cash Flow from Operations & Annual Financial Rept 1979.Requests Commission Review of Forwarded Matl & Acknowledgement of Results of Review
ML19323F179
Person / Time
Site: Fort Calhoun Omaha Public Power District icon.png
Issue date: 05/20/1980
From: Petersen H
OMAHA PUBLIC POWER DISTRICT
To: Saltzman J
Office of Nuclear Reactor Regulation
Shared Package
ML19323F181 List:
References
NUDOCS 8005280620
Download: ML19323F179 (3)


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Omaha Public Power District 1623 HARNEY ' 8 O M AH A, NEBRASKA 68102 TELEPHONE S36 4000 AREA CODE 402 May 20, 1980 Mr. Jerome Saltzman Chief, Antitrust & Indemnity Group Office of Nuclear Reactor Regulation U.S. Nuclear Regulatory Commission Washington, D.C. 20555 Re: Docket No. 50-285 - June 30, 1980 to June 30, 1981 Guarantee for Payment of Deferred Retrospective Premiums Section 140.21 of 10 CFR Part 140 Fort Calhoun Power Station, Unit No.1

Dear Mr. Saltzman:

In compliance with Section 140.21 of 10 CFR Part 140, the Omaha Public Power District files the attached "1980/8i Statement of Cash Flow From Operations" as its guarantee for payment of deferred retrospective premiums. As noted in the 1979 approved guarantee, the District is a public entity and a political subdivision of the State of Nebraska.

The financial reporting fonnat suggested by the NRC Regulatory Guide 9.4 does not adapt itself to the way the District must determine the type of funds that would be available for this guarantee under its bond Resolution 1788. Consequently, we found it necessary to again deviate somewhat from the Regulatory Guide 9.4 fonnat as we did in the 1979 ,

approved guarantee. A copy of Bond Resolution No.1788 was sent with the 1979 guarantee for pennanent filing in your office.

We also attach a copy of Omaha Public Power District's 1979 Annual Report as part of the 1980 payment guarantee filing.

We would appreciate Connission review of the financial information furnished herewith in satisfaction of the requirements of Section 140.21 of 10 CFR Part 140, and acknowledgement of the results of such review.

If there are any questions, please advise.

Sincerely, L P/ -

H. E. Petersen r __ i Manager - Insurance '

{ l 73;S DonUMENT CONTAINS HEP /Jr Attachments

( POOR QUALITY PAGES 1 pc: Mr. Ira Dinitz w/ attach.

R. C. Learch w/ attach.

8006280 6 20

! i OMAHA PUBLIC POWER DISTRICT (a) 1980/81 STATEMENT OF CASH FLOW FROM OPERATIONS FORT CALHOUN POWER STATION UNIT NO. 1

. (Dollars in Thousands)

ACTUAL PROJECTED 12 raonths 12 months 12 months ended 12/79 ended 12/80 ended 6/81 Operating Revenues $ 190,210 $ 224,900 $ 235,430 Interest Receipts (b) 6,500 6,500 6,500 Total Cash Receipts 196,710 231,400 241,930 Less: Operating Expenses (c) 107,084 132,399 139,638 Payments in Lieu (c) of Taxes 4,835 5,407 6,946 Funds Available for Debt Service 84,791 93,594 95,346

Less
Debt Service Payments (d) 44,549 58,956 59,336 Funds AvailablePurposes Valid Corporate for Other (*) 40,242 34,638 36,010 Average Quarterly Cash Flow $ 10,061 $ 8,660 $ 9,003 Percentage Ownership - Fort Calhoun Power Station Unit No.1 - 100%

Maximum Total Contingent Liability Annually - $10,000,000 Notes to accompany " Statement of Cash Flow From Operations" (a) The format of this cash flow statement is in accordance with the payment priorities as established by the Bond Resolution 1788.

The payment priority schedu',' ior funds realized from operations is as follows:

First priority: Operation and maintenance expenses and payments in lieu of taxes.  !

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Seccnd priority: Debt service (principal and interest) on all outstanding bonds.

Third priority: All other valid corporate purposes. These purposes would include construction, nuclear fuel, working capital, and any other use of the funds to provide for an on-going utility business.

The payment of any funds for the NRC guarantee would fall into the third priority.

(b) Interest collections have been nomalized to reflect only the types of interest collections from nomal on-going funds and do not reflect any interest collections made from special construction funds.

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

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

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

Supplementary General Statements:

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

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

The District currently has a $30 million revolving credit agreement with a group of banks, and does have access to the long term municipal bond market on fairly short notice.

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

The State of Nebraska does not have a public utility comission.