ML20008F149
| ML20008F149 | |
| Person / Time | |
|---|---|
| Site: | Rancho Seco |
| Issue date: | 03/05/1981 |
| From: | Mattimoe J SACRAMENTO MUNICIPAL UTILITY DISTRICT |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| References | |
| NUDOCS 8103120391 | |
| Download: ML20008F149 (6) | |
Text
a e suuo SACRAMENTO MUNICIPAL UTILITY DISTRICT C 6201 S Street, Box 15830, Sacramento, California 95813; (916) 452-3211
'! arch 5, 1981 Mr. Jerome Saltzman, Chief f-
's Antitrust and Indemnity Group
/s q,f
[O 8.yAs[?J
}
Office of Nuclear Reactor Regulation
/c.I/
.f g
U.
S. Nuclear Regulatory Commission jf IVa s h in gt on, DC 20555 i~
9 t-), N N J5
?; h p' f
Dear Mr. Saltzman:
ff
- /
D Subj ec t :
Price Anderson Act (fg Retrospective Prenit;m Syst, ta e Pursuant to 10 CFR Section 140.21 and 7egulatory Guide 9.4, the Sacramento "unicipal Utility District intends to use general funds in the event of a retrospective premium asses -
ment.
To support this position, we are enclosing the District's cash flow projection for 1981, the 1981 Budget Statement of Net Revenue, the 1980 Statement of Not Devenue, and the Decenber 3',
1980 Balance Sheet.
We will send you a certified financial statement for 1980 as soon as it is corpleted.
We trust th at these documents will sati,fu the guarantee of payment provisions for 1981.
Sincerely, 1
ohn
'fattinoe Assistant Ce.eral Manager and Chief Engi eer Enc.
//100/
S
//
- nsm39
,b -
A 'l ELECT 1lC S Y 3 T E *,1 3 E R / I 'd. YOSE T H i !4 it ; 000 t 's T ri E HEART CF 0 4 L I F O R fi l 4
SACRAMENTO.UUNICIPAL UTILITY DISTRICT 1981 INTERNAL CASH FLOW PROJECTION RANCHO SECO NUCLEAR PCNER STATION (thousands of dollars) 1930 Projected 1981 Net Income After axes
$35,251
$33,S40 Less Dividends Paid Retained Earnings
$35,251 933,S40 Adj us tmen ts :
Depreciation and Amortization 547,055 a/
$55,679
/
b Deferred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction (7,253)
(9,417)
Total Adjustments
$39,302
$46,262 Internal Cash Flow 575,053 530,102 Average Quarterly Cash Flow
$18,763 520,n26 100 Percent Ownership in Rancho Seco
-al Consists of depreciation (523,720,034), amortication of nuclear fuel ($19,601,196) and allowance for decommissioning of plant
($3,733,725).
bl Consists of denreciation ($25,248,000), amortization of nuclear fuel ($25,093,000) and allowance for decommissioning of plant (55,338,000).
p m
n SACRAMENTO MUNICIPAL UTILITY DISTRICT BUDGET 1981 STATEMENT OF NET REVENUE (REVISED)
OPERATING REVENUES:
Sales of electric energy for District load -
Residential
$ 82,699,000 Consercial and industrial 69,836,000 Street lighting 1,701,000 Total
$554,235,bbb Sale of surplus power 54,751,00G Other electric revenue 1,824,000 l
Total operating revenues
$210,811,000 OPERATING EXPENSES:
Purchased power
$ 16,400,000 Nuclear fuel used for generation 25.093,000 Operation -
l Production 23,009,000 Transmission and distribution 7,009,000 i
Customer accounts 6,932,000 Customer services and informational expenses 6,929,000 Administrative and general 12,J19,000 Maintenance -
Production 18,699,000 Transmission and distribution 11,161,000 Administrative and general 1,390,000 Depreciation 25,248,000 Decommissioning of nuclear plant 5,338,000 Taxes 41,000 i
Total operating expenses
$i6b,b68,bbb a
Net operating revenue
$ 50,743,000 4
e
r
-s E
STATEMENT OF NET REVENUE (REVISED) 1
- OTHER INCOME:
Allowance for equity funds used during construction
$ 4,737,000
{
Interest income and other 8,874,000 4
Net revenue before interest expense
$ 64,354,000 INCOME DEDUCTIONS:
$ 32,648,000 Interest on long-term debt i
Interest on short-term debt 2,330,000 Amortization of bond redemption premium, discount and expense in excess of amortization of bond premium 216,000 Allowance for borrowed funds used during construction-credit (4,680,000)
Total income deductions
$ 30,514,000 i
Net revenue
$ 33,840,000 1
t
I i
i l
SACRAMENTO MUNICIPAL UilLITY DISTRICT l
STATEllENT OF NET REVENUE DECEf1BfR 1980 I
Current Month Iselve llontis to Date f
l Over (Under)
Over (Under)
OPERAllNG REVENUES:
Amount Prior Year Amount Prior Year l
Sales of electric energy for District load i
Residential
$ 5 682 859
$ 689 000
$ 68 446 205
$ 7 609 JUS l
Commertf al and Industrial 4 842 260 745 616 59 538 580 6 894 1/3 l
Street Ilghting 129 1R0 21 923 1 414 030 189 520 Total
$10 654 299
$ 1 457 339
$129 398 815
$ 14 693 548 l
Sale of surplus power 11 160 104 5 410 837 50 053 138 14 670 823 Other electric revenue 19 139 15 428 171 525 31 531 l
Total operating revenues
$21 833 542
$ 6 883 604
$179 623 418
$ 29 395 900 1
OPERAllNG EXPENSES:
l Operation l
Purchased powe= (Note 2)
$ 1 637 042
$ 145 107
$ 16 401 560
$ 1 429 303 Nuclear fuel used for generation 3 210 624 186 261 19 601 196 (1 Gil 320) l Production 2 397 747 1 011 321 19 161 590 9 031 311 l
Transmission and distribution 562 717 141 558 5 708 604 262 240 Customer accounts 502 380 106 180 5 734 199 61d 016 Customer service and information expense 371 441 75 513 3 196 724 995 5/1 Administrative and general 1 017 326 413 945 10 080 084
/ J51 454 l
Total operation
$ 9 165 283
$ 2 140 491
$ 80 489 951
$ 13 082 591 Maintenance 2 295 703 461 006 23 129 111 7 115 696 Provision for depreciation 2 017 606 (367 669) 23 120 034 1 025 468 Provtsion for decommissioning 301 515 301 575 3 733 125 3 133 125 Tases 5 158 2 060 40 145 4 165 Total operating expenses
$14 385 325
$ 2 537 463
$131 112 918
$ 25 021 651 Het operating revenue
$ 7 448 217
$ 4 346 141 1 48 510 500
$ 4 374 251 OTHER INColtt:
AFUDC - equity funds 496 155 215 010 3 555 260 1 519 666 Write - of f of generation projects (1 413) 13 962 (76 018) 2 415 92/
Interest income and other 1 092 748 (111 159) 8 994 733 355 935 Insulation program 16 921 (8 415) 39 566 (54 916)
Net revenue before Interest expense
$ 9 052 628 1 4 515 539
$ 61 024 019 1 8 610 769 INC0t1E DEDUCTIONS:
Interest on debt
$ 2 714 573
$ 248 118
$ 29 280 963
$ 2 31b 410 Amortization of bond premium, discount and expense. net 15 477 (413) 189 125 23 411 AFUDC - borrowed funds - c redit (515 993)
(211 654)
(3 691 4/0)
(1 503 444)
Total income deductions
$ 2 214 057 (29 949)
$ 25 712 668 836 S13 net revenue
$. 6, 83g,5y,i,
$ 4 5AS,48g
$,25 25,i,3 g L i 1i4 3%
t
.a
SACRAMENTO MUNICIPAL Ui!LITY DISTRICT BALANCE SHE[IS-DICfMBER 31, 1960 AND 1979 A$$EiS CUSTOMERS' EQUlTY AND 1IARILIiIF~
f 1980 1919 19n0 1979 FIECIRIC HilLITY ltANT, at original cost:
CApliAL I1 Ail 0N:
Plant in service
$ 893 252 657
$ 840 320 052 Custtmars' equity empInyed in the less. Reserve for depreciation 183 913 944 162 541 313 hustness.
Delance beginning of year
$ 386 Fil 433
$ 1%n 194 a38
$ 709 218 113
$ 677 772 739 Net revenue for the year 35 251 381
?? 476 995 Construction work in pragress 71 491 680 60 860 839 Total custruers' equity
$ 471 5?? R14
$ 3A6 711 411
$ 786 770 393
$ 138 633 57R long.tenn debt (Note 1) 409 576 740
%?6 116 A45
.............a NUCliAR FUfl, at cost less amortiration
$ 113 398 981
$ 90 R21 386
$ 931 099 gr>4
$ 911 tuli nIn SECPfGAf[D FUN 05:
Cash and securities at cost -
Nuclear plant deconnissioning fund 3 733 725 Revenue bond reserve funds.
Electric System Bonds 1 000 000 1 000 000 E lectric Revenue Bonds 20 767 970 20 501 565 All Parity Onnds 5 312 372 5 552 347 White Rock Project Rands 929 986 979 986 CURPENT Li ARILIi!ES:
$ 31 303 953
$ ?? 983 898 Cramercial paper
$ 39 916 MUI Accounts payable 17 49? 170 16 148 134 Accrued salarf es and wages
? 045 096 1 %41 491 CURRENT ASSfiS:
Accrued vacation
? 343 081
? 6%6 7n4 Cash and securttles at cost -
inny. term debt due within one year 17 216 453 16 4R4 114 General fund
$ 78 $66 364
$ $2 591 931 Accrued interest on debt 6 935 147 10%1619 for payment of debt service 13 930 301 13 811 949 Custnmers' deposits 3 734 806
? 619 141 Accounts receivable, less reserves of Purthased power rate inc rease
$445,904 and $381,390, respec t ively 10 352 095 9 917 269 (Note 2)
?1 ?97 669 11 791 741 Receivable f rem sale of t,ulk power 15 323 171 9 358 825 Other 3 910 Rio 117? lit Interest receivable 1 641 291 2 4?9 915 Materials and supp11es, at average cost 18 500 643 13 157 819
$ 114 461 413 61 on0 141 Prepayments and special deposits 1 192 614 1 315 002 Purchased power rate Increase.
Iscrnw deposit (Note 2) 70 078 134 8 755 211
$ 109 640 619
$ 111 464 OA3 DIFIRRID C11ARGES:
Unamortf red hond redemption premita, debt discount, and empense
? 023 248 2 153 650 DIf IRRI D (Rf Dl!$:
Energy exchange account 1 481 M10 1 490 64R Reserve for denwulssinning 3 113 7?$
Other 4 183 171 1 555 960 Other 1 119 1% In?
8 793 919
$ ?OO 75R 3 140 R44 1% 1R?
' 1.1.,049 301. N.I.
$.918.101101
.11 04'. lo! al'.
- 1. 9?.'91 ?ol
_