ML20076N420

Gainesville Regional Utils 1990 Annual Rept

ML20076N420
Person / Time
Site:	Crystal River
Issue date:	12/31/1990
From:	GAINESVILLE REGIONAL UTILITIES
To:
Shared Package
ML20076N419	List: 3F0491-09, Forwards Gainesville Regional Utils & Florida Progress Corp 1990 Annual Repts & Financial Statements for City of Alachua,City of Leesburg,City of Tallahassee,Orlando & Sebring Utils Commission & Kissimmee Util Authority ML20076N420 ML20076N425
References
NUDOCS 9105070151
Download: ML20076N420 (46)

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DGehughts for Pleoel 1989 90 t

Percent l

Financial:

19t9

_QheD9t 1993 Not revenuer, after rate stabilitation transfor..

5 60.279,993

$ 55,840.237 8.0%

Aggregato debt service..

19,064.790 17.939.790 9.6%

Aggregate bond debt service ratio 3.07 3 11 (1.3%)

2 27 2.28 (0.4%)

Total debt service rrtio...

- Long term debt..

425.431,493 428.384,308 (0.7%)

Not utiltty plant.

413.203.351 387.931.564 65%

- Canh And investment -

Rato stabilization fund and revenue fund..

45.581,971 39.561.351 15.2 %

3 Customers (12 months average)t Residential electnc 53,579 51,579 39%

i Non-residential cloctrio 6Jf6}

6224 23_%

Total electre 59,944 57.003 '

3.7%

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4l.923 40.671 3.1%

Water..

Wastowater 37.997 36.000 33%

Natural pas 4.

19.269 10,930 1.8%

Sales of energy (pigawatt horts):

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4 s iscellargo power.....

594.5 570 8 42%

15,9 16 1 (1.2%)

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Total,,..,

1,094.6 1,626 4 4.2%

.s Sales of water (million gallons)t.....,,..

6.499.7 0,717.9 (3 2%)

Wastewater treated (million pallons)t.

3.966.9 3.967.5 (0.0%)

Natural gas (million therms):....

29 5 30.1 (2 0%)

Fonewoni G ainesvillo is proud to be known Gainesvdle is a leader in arts and quality and protoction of the natural na one of the most progressivo culture, with live professional theatet.

' resources they usa Decause of their -

communities in Flonda. The city music and dance, as wolt as major continual dodication in making this a w:s recently rated the most livable city museums of art and natural history, public ublity in which the entire city can

'in the state and one of the best places Natural beauty is also abunda$1 in take pride, this antiual teport is dodicated to hvo in the nation by Money magazina :

" Tree City, U.S A." where nch foliage to each and ovety one of Gainesville As the heart of commerce, education-

- displaye a bountiful combination of Regional Utihtios' omploycos.

and culture for north contral Flonda,.

semi tropical and temperato species ofl G nosvdtds diversified economy includes spectacular flora and fauna.

on the coven rtmer poneraract ty cannesde ~

services, technology, manufacturing.

. The people who live in this community g.g,onal ut,htes growdos Aphr kw 6Q000 banking; insurance, agriculture and gov-care about the quality of life, carefully cushes Ansett' Thme major utihres, ebetrc

. crnment: The University of Florida, with

' balancing beneficial economic develop-pas and waror&astewam are retvesormf n 35,000 students and 18.000 employees, ment with an abiding concern for the ado;ron to the computer used tv customor is the state's loading institution of higher environment. The employees of Gaines, se m oissu e rtne -

1:arning, The 11.000 full and part-time ville Regional Utiltties are members of -

ctudents of Santa Fe Community College the community and share these concerns.

also contnbute to making Gainesville Their spint is demonstrated overy year

' one of the most educationally enriched not only by excellent job performance, communities in the nation. Gainesville's but in their leaderDhip in the March of medical complex; unrivaled in the stato Dimes ano their award winning parti, tnd one of the largest in the southeastern cipation in the annual University of United States, is composed of four major Florida Homecoming Parada They are hospitals and many supporting clinics dodicated to providing excellence in and medical businesses-service, product value, and care tot the i

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MehNghts for Ploomi 1989 90-percent 1990 1999 Q})pgt Financial: ' Not revenues after rate stabilization transfer.. $ 60.279.958 5 55.840,237 8.0% Aggregate debt so vico.. 19.064,790 17,939.790 9.6% Aggregate bond debt f orvice ratio 3.07 111 (1.3%) Total debt service ratio... 2.27 2.28 (0.4%) Long-term debt..... - 425.431.493 428,384,388 - (0.7%) ' Net utikty plant x...... 413.203.351 387,901.564 6.5% Cash and investment -- Rato stabikzetinn fu",d and revenue fund.... o., 45,581,971. 39.561,351 15 2 % Customers (12 months average): Residential electnc ' 53.579 51,579 3.9% Norvrosidential electric 6 3.Ja 6,224 23% a Total electricD c,. a.. 3. 59,944 57,803-3.7% 41,923 40,671. 3.1%.. Water.....,........ i. .<,....,,.i,.. Wastewate r.,,,,,.............. ;................. 37,997 36.800 ' 3.3% . Natura! pas..,.....,..... 19.269 18.930-1.8%- Sales of energy (gigawatt hours):. Residential.,,..,,..,... e.... 581.9 548.6 6.1 %. .' General. sorvicollarge power.... 594.5 570.8 4.2% Lighting.....,..... 159 16.1 (1.2%) Sales for resale.... _-85 0 -70.9 1933 ' Sub-total.....,........... 1,277.3 1,206,4 5.9 %. Interchange,..~......... 417.3 420 0 - (0 6%)

70tal.

1.694.6 1,626.4 - 4.2% ' ..... 4 ,,3.,..,. Sales of weter (milliosi gal!ons):.,............ .6.4D9.7 6,717.9 (3.2%) r Wastewater treated (million gallons):, 3.066.9 3,967.5 (0.0%) Natural gas (million therms): 29.5' 30.1 (2.0%) } 1 Foreword G ainesvilte is proud to be kncwn Gainesville is a leader in arts and-' qJahty and protection of the natural as one of the most progressive culture, with hve proiessional theater.

resources they uso. Because of their communities in Florida. The c!!y music and dance, as well as major:

continual dedication in making this a was recently rated the most livable cityx museums of art and natural history public utihty in which the entire city can in the state and one of the best places. Natural beauty is also abundant in take pride, this annuai report is dodicated to live in the nation by Money magazine " Tree City, USA.." where rich fohago to each and every one of Gainesville - As the heart of commerco. education.. d: splays a bountiful combination of Regional Utikties' omployees. and culture for north central Florida, - semi tropical and temperato species of Gainesville's diversified economy irtludes ; opectacular flora and fauna. On the cover: her generated by Gauiemlie 1 sorvg.es, technology, manufacturing, _ . The people who hvo in this community .p p.,,,y % p,gyo,3g,gn,g mogg. . banking, insumnce, agriculture and gov. care aDout the quahty of hfo, carefully customers. lnuto Three major ordif#es, electre, - omment The Urwersity of Florida, with : balancing beneficial economic develop < gas and water /*astewater. am represented n 35.000 students and inG00 ~mlovecs, . ment with an abiding concern for the add.ron lo the Computer used by customer-is the state's leading institution of Ngeer ' environment. The employees of Gaines-80'VC8 in lla support me a ' loaming. The 11,000 full and part-timo . ville Regional Utihties are members of C.udents of Santa Fe Community College ' the community and share those concerns. Cso contribute to making Gmnesville : Their spirit is demonstrated every year. One of the most educationally enriched not only by~ excellent job performance, communities in the nation.- Gainesville's but in their leadership in the March of medical complex, unrivaled m the state Dimos and their award winning parti-cnd one ol the largest in the southeastern cipation in the annual University of United States,'is composed of four major Florida Homecoming Parad They are hospitals and many supporting chnics dedicated to providing excellence in ind medical businesses. - service, product value, and care for the -.u-...

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l To Our Owners and scal year 1990 was an e= citing Community and Employec: Con' i Customers year of dynamic changa comm,t inbuto daeevy to the weare of the I ment to communit; weitare, and employees and community whae con continued I,naned strength for Gainesvme tinutng to provide the City with a com-GRU <s a strong and vital part Beo'onn' Ut'ht'es GRU substant ^UV pel'!*e retum on 'ts in.cstment '"C*35"d 'ts range f utsty se'vicci GRU is proud of ts achievements i of hfe in Gm'nesde, the result witn the addition of natural gas dstnbu-which have been recogn;ted by a of the dedication, s0.!/ and tion. to the beneht of all customers number of statewide orgsntrat.ons lhe !nitiative of l!s employees, lo GRU's General Manager was estateshed honda Water Podution Control Opeator5 whom this report is dealcated. as a Charter Otheer of ine City of Assoc,at,on Tne nonda Pubhc ne!at,ons Gainesvihe, making the system more Association. and the honaa Govemor s d, rect!y accountatWe to its owners Health and Safety Committee all gave Whde continuing to keep its rates GRU awards for its outstanding perfor-among the lowest in Ronda, GRU mance th:s year GRU's commitment to increased prodaction and revenue further the m$sion and goals empressed above stabited interchange sales ma+ntained is ampty demonstrated by just a iew supenor bond ratings, and increased highhghts of the past yeal prohtabaty Commitments to conttnued excenence Dynamic Changes were made in many ways. ranging from Perhaos the most e(citing event of insestments in new financial and customer intcai year 1990 was GRU s acqusbon informahon systems to the planning on Anuary 10,1990 of the natural gas design. construction and opt mitation d'sthbuhon system serving the Ga nes-of new and eiosbng facAties. lhe vWe area By oftenng electnc. Water DCcomphshments chronicled in this wastewater and natural ghs services Annual Report all happened because GRU is able to otter its customers a of the dedication and hard work of unMed bdhng and seruce system that GRU's empknyees The sense of mission is atWe to provide greater ethciency. and the goa!s shared by the employees lower rates. and a Jnited tront for the if put into words might best be stated most ethcient matching of energy types as follows to ervj uses. Gainesvdle Aegtonal Utdities Wdl pro-On July 1.1990. the City Commasion 2 Wde dependable electoc, water, waste-of Gainesyme otheiaHy recognited the water and natural gas sernees consistent importchce of GRU to the stabity and with their individual needs, at competo economic wtm being of our community twe pnces. and to a manner consistent by estabhshing GRU's General Manager wtth industry, govemment and com-as a Charter Officer of the City This munity accepted rehab# tty health, safety ahows the General Manager greater and environmental s!andards. whde freedom to guide the Utihbes in matters continuing to provode the City of Gaines. affectsng sts hnancial and orpanizat anal vdle with a competitive retum on its hea!!h. dacctly reporting to the City investment and all of GRUs emplo)ves Comm'ssion and our custumer owners with a safe and productne work environment Service Delivery Commitment Customer Service: Meef all customer December of 1989 brought an ice serv #ce demands rehably, and at industr): and snow storm unparancied in Ronda community and enoronmentally accepted history The wesght of ice caused tree standards hmbs to knock out Ones throughout our Pncing: Provide service at the lowest service area over the Chnstmas hohdays possible onces Through a d& gent selfless round the-Financial Strength: Marntain the clock effort in sub treezing conditions, current financial strength and stabdity GRU's employees left their famihes to of the system. restore power to most affected customers Operating Cost Performance: Provide within 24 hours. with isolated areas electnc and gas pncing that ts not tied back in service within '2 hours to low luel costs alone, but to the lowest Major facety proiocts initated to possible non-fuel operating and mainte-assure cost ettoctive. rehable service nance costs. without sacnAng serwce dehvery included the Westside Servico quality Center whicn wm house construction and maintenance personnel to better serve GRU's growing westem service area, sign & cant upgrades to both the Main Street and Kanapaha Wastewater Treatment Plants. and the expansion of the Murphree Water Treatment Plant.

These projects and many others of Lighting" and " Downtown Underground" d: splaying a comtnissioned scu!plure at importance to the continued growth projects re routed and placed und"r-the entrance at part of Flondas Art in and development of the Gainesville ground many overhead electoc tacihties. Pubhc Places program area are desenbed in the system and replaced older less attractive street f.ections of this report. hghting facihties with modern and more Annual Report Organization GRU conttnues to develop new pro-aesthebc fatures in downtown Gaines-The annual report is organized to grams to inform and improve relations ville. greatly improving its appearance reflect the major functional areas of with our customers This year saw the Ground breaking for GRU's new GRU the Electnc System. the Water formation of the GRU Speakers Bureau administration building took place in and Wastewater Systems. the Naturai to serve local business organcations February of 1990 with cccupancy Gas System, and Customer and Admn-and cive groups, and of " Power Lunches" expected in the tall of 1991 The tout istrative Servces Major events and in whch randomly selected customers story 69.000 square foot building will achievements are chroncied for each otter suggestions for improving services centralize administrative. engineenng area. in order to bnng to life the statis through B dialogue with GRU's top and customer service functions, greatly tica! and financial data which measure managers A new financial and customer increasing the ethciency of communica GRU's excel! cat performance GRU is a information system was designed and tions and operations and enhancing strong and vital part of lite in Gaines acquired to improve service quahty and customer accessibikty The attractively ville. the result of the dedication, skill flembihty. designed structure will add to the aes and initiat've of its employees, to whom thetics of dcwntown Gainesville, proudly this report is dedcated Financial Strength GRU's net revenues for fiscal year 1990 were as fo! lows: $48,351.420 for the Electnc Sydem $5.840821 for the Wastewater System. $5.038089 for the Water System. and $1.049.067 for the Natural Gas System (with GRU owner-ship and operation commencing on January 10. 1990) As the result of a successful year, GRU's transfer to the City of Gainesville's Generat Fund increased from $13.029.871 in Fiscal Year 1989 to $15.154.322 this yc ar. The General Fund transfer is based on a formula that t.es the transfer directly to the profitability of the com-bined utihties system GRU maintained its " double A" bond ratings from both Standard & Poor's and Moody's investment services GRU is very proud of these ratings which indicate that our bonds are among the soundest of any munscipal utikty in the nation At the same time our rates are among the lowest 6n the state, GRU stati coordinated the formation of and became an active member of the Flonda Gas Ubbty. an organization of municipal gas utihties formed in the fall of 1989 Florida Gas Utihty is designed to use group purchasing to take advantage of "Open Access." a Federal Energy Regulatory Commission mandate that allows natural gas pur-chasers the nght to purchase on the open market. This heips GRU fulfill its commitment to purchase fuels at the lowest possible price Community Welfare GRU is committed to help re vitahze and restore histoncally important sections of our community. GRU contributed to the aenthetics of our Community by Gainesulte Mayor Courtland Comer and restonng the Boutware Spnngs Water. Gmat Mawv ku Utes MichaN L Met.- works and making it into a park the 'm Nere bW nm W ammnecan site of Gainesvi!Ie's onginal water supply y'gN" * ""T*" and a location of great histonca! signi'cance to the area. " Showcase

The Bectric System RU's Electoc System is a coop. capacity of 103 megawatts (MW) The erative effort between power Deerhamn Generahng Statecn present!y Systems - the people who operates one coal faed steam un:t, one I buy the fuel and generate the power - oil! natural gas fired steyn unit and two and Electne Systems Operations - the oit/ natural gas f aed co.rbustion turbines l people who oehver the power to our with a net generattng capacity of 334 residential, commercial, wholesale and MW Aldmonally. GRU owris a 14 pment interchange customers Long range share of Florida Power Corporation's planning of the ElectnC System is con. Crystal Rver generabng untt This owner-ducted by Strategic Planning The dede sh;p share ent; ties GRU to approiomately cation and skill of these employees has 11 MW The combined not generating made GRU one of the best municipal capacity of GRU's generating system is electnc systems in the country 448 MW. Deerhavens Unit 2, the largest in the system. achieved an operabng Power Systems avadatuty of 90.70o dunng bscal year GRU owns and operates two electnc 1990 This is 69% above the national generating stations The John R Kelly average for un-ts in th:s class Generahng Station, located nev down-The ettectiveness of Power Systems' town Gainesvdle, has been in operation continuing safety programs was oemon since 1912. The Kel y Station presently strated when employees of the John R. operates two oit/ natural gas fired steam Keny Generating Station completed a urats and three 011/ natural gas fireo record 450,000 man hours (2.000 days) combustion turbines with a net generating without incornng a lost time accident or major property damage For this admo rable accomphshment they were pre-sented the Governor s Annual Occupa tional Safety and Hea!th Award by Flonda's Governor Bob Martino: Access to low cost fuel continued to be a pnmary focus for GRU in 1990 Several events occurred in 1990 that should afford more economical pro-curement of fuels by GRU Ettective August 1,1990. F ionda Gas Transmission Company (FGT) became an "open access" pipehne. thereby providing GRU and other customers of FGT with the acihty to purchase natural gas d rectly from producers and marketers Buying natural gas on the open market is projected to save GRU's electnc and natural gas customers an estimated two to three mdhon dollars annuafly An interlocal agreement between GRU and tho municipal utihbes of Starke. Homestead, Kissimmee and Sebnng formed the Fionda Gas Utely As a member, GRU is better able to take advantage of the savings opportunities offered by open access through gas poohng and quantity purchasing by member compan;es. By contract. GRU's Fuels Management Department per-torms all purchasing and dispatching -~ [ serv:ce3 for Flonda Gas utsty g i Lett: Wth a combinaton of bainnce skal and techncal know how Rck ktert. ebctnca' ?, I kneman, stro Joe CampbeII. apprentce kneman. replace an owtheaJ Vans %rmer Right: _y Prov6ng power dur ng routtne mocical procedures ss as omportant to GRU empimtes as keepng scinces avadable dunng emergency i or desaster condbons Inset: Tomny Sethng. Instrument and cbctica! supervsor checks gauges at me John R KePy Generaing Stanon, 'l where employves won the Govemors Annua! m ' i Occupat.ona! Safett and Hea% Asard en 1990 ) l a 1

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i s GRU r(quires a train to transport its Cns$ who left their famihes to perform savings of approumately $150.000 per j low sulphur coal supp!y to the Doct, an amazing customer restoration feat year j haven Generating Station. The decision under extremely severe conditions By System Integhty: During fecal year was made to replace GRU's eusting the end of the first day. 71% of affected 1990, ESO, in con; unction with the Stra. steel car floot with aluminum cars based customers were restored, and all logic Planning staff, performed a long-on an economic eva!uation which con-cudomers had service restored by the range d$tnbution study that examin9d sidered the reduced maintenance costs third day. the requirements for future substations of an aluminum ficet, a transportation Advanced Technologies: The first and distnbution knes over the next rate reduction for aluminum cars, and phase of the Distnbution Automation twenty years A tesult of this study is the excellent market for GRU's used rail Project and the placement in operation the budgeting by ESO for the addition cars GRU sold its 106 car fleet of steel of semal Remote Telemetry Untts (RTU s) of a 33 MVS substabon transfom c. and rad cats, but will continue to use the was completed An RTU monitors and twu new distnbution circuits in 1991 GNFX ficet on a leased basis unbl controls the operation of electoc equip-More than 120.000 feet of reconduc. compiction of the new train in mid 199t. ment at strategic locatrons throughout tonng projects. as well as a number of the electnc network Fullimplementation switch gear feplacement projects were Electric Systems Operations of this project wdl allow for canitcantly completed and the newly modified vege-Electne Sptems Operations (ES0) is improved remote control and "reattime" tation management program was aggres-respons:ble for the economic and rehable anaWs capabdities, and reduce present sively pursued Several projects were delivery of electnc power to GRU's requirements for on sito switching per-completed which improved the aesthetics customers. ESO operales, maintains and sonnel GRU continued to strengthen its of pnmary roadways in dcwntown Gaines-constructs the electric power distnbution abdity to thoroughly analyze events valle. installatOn of atternative street network. Initiatives to enhance the per-associated with service interruptions by kghtng f*tures, undergrounding overhead formance and rehatMty of the system increasing the number of distobution facihties; and te routing of dmtobution dunng fiscal year 1990 included the substations containing Digital Fault hnes apphcation of advanced digital tech-Recording Devices to four out of six nolog'es, and intensive system planning. GRU is one of a very few municipal maintenance and ionewat Safety and utikties which nas converted its outnc training continues to be a top pnonty dstobubon systern record drawings to and key ingredient in the dady work an electronic med.a The Geographic practices of ESO. As part of its safety Information System (GIS) uses digital and training programs, ESO also admin-maps to allow more efficient record isters a wellness facikty, with services keeping and facihties management. g offered to all employees of the Cafy Initiatives taken in the past year to Disaster Response: The perfor-roah7e the enormous potential benefits mance and rehabikty of the electoc of the GIS system included developmerit distnbubon system was put to the test of hghting system data for the rental dunng the 1990 Chnstmas Hohdays by and pubke hghting program; creating the first documented ice storm in software tools to extra 0t analyze and GRU's h$ tory Ice da'iage resulted in report on costing data and creating the interruption of ser ice to approx-speciahzed maps of GRU's electnc net-imately 30% of the sy tems' electric work to aid in major customer restora-drstnbution customers Unsurpassed tion efforts and trouble ana!ysis A new commitment, dedication and courage agreement for computer services from came from GRU personnel dunng this Alachua County was negotiated with Electric System Energy Salas Electric System Number (Gigawart Hours) of Retail Customers (Annual Average) 2,000 60.000 1.800 54,000 1.600 ~ ~ ~ 48,000 1,400 42,000 1.200 36,000 1.000 30.000 800 24.000 600 18,000 400 12.000 200 6,000 0 0 - '86 '87 '88 '89 '90 '86 '87 '88 '89 '90 0 ini ren.,,o. aira E Rogg O ggg"* a n...n se O no. nie tseim ~,w y- ,-c gm._,, , m%,, ,m_,_,..__m____

~ - -. i 1 Th# Water ArHi WSSIDWa%#f " '" C U*' d 'U* "'"O " "" ""* "7 " # """ O " U"UI " U """ "" "I d well show that the three new welis wili tion of weir mod ficabons which now j Sy";tettl5 not only provide 11 b MGD of additional ailow the faters to operate at as much capacdy, but wdf pay for themselves m as 40 MGD and performed the opera RU's Water and Wastewater reduced treatment costs by anowing tion and analysis to certify that the n { P Systems work together to prando other wells to be used ;ess frequennv teactonciantiers would perform well at and protect the most p4cous The Murphree Water Trealment hant. loadings as much as 50% higher than i commodity on earth - safe. clean loca'ed northeast of Gainemne. is the,r nominal ratings The plant is donking water The combined in$abves GRU s hme softening facihty which also designed to accommodate equnsions j' of the planning engineenng and oper-chlonnates. fluondates and fdters poor up to 60 MGD of capaaf t and will abons staff in the past year have been to detnbubon to provide a supenor meet Gainesvines needs for many Successful in hnding the opbmal use. Quahty of water The Murphree Rant years to come reuse and development of avadable has been te ra:cd from a maumum day resources capaaty of 30 MGD to 34 MGD This Water Distribution The Flonda Department of Enofon-new rahng is based on a number of GRU's water distnbubon system montal Regulabon's (FDER) ' Best plant improvements and performance includes two ek va!cd storage tanks with Operated Synem" and safety awards to measurements performed by GRU staff a comtnned capacdy of 15 mahon the Murphree Water Treatment Plant. in the past yeat ;ncluding performance gaHons and approomately 700 rndes of Water Distnbution Department, Main evaluations of the plant's reactor-transmission and dminbubon f aciht es Street Rant, and the Wastewater Col clanhers, instaHabon of addtonal granty Mapr facihty improvements in the past lection Department staff are only one sludge thickening and vacuum fator year included renovabon of the Depot lesbmony to the dedicabon. hard work. press capacity and finer Weir plate Avenue pump stabon downtown and a pnde, and excellence of GRU's water modicahons 16 inch diameter transmission main and wastewater employees The gravity thic&ener and vacuum fJter along the northem boun1ary of the press were obtained from GRU's retaed Univers@ of Flonda These famhbes An American Water Works Landmark downtown water plant These faahbes were constructed as part of a maste, Boulware Spongs was Gainesv,Iles were refortyshed and insta!Wd at the plan to serve the growing southwest firnt pubhc water works facihty, was the Murphree P: ant by GRU's staff at minimal and northwest port ons of GRU s service site of the naming of Gainesvale at a cost and are in excenent operabog area community ptcnic in 1854, and prooded condton GRU s staff also performed the free water supply used to attract the Univnesity of Flonda la Gainesvdle in 1905 The facihty, which had been abandoned and had fallen into d;crepair, Wastewater System Water System Sales 7__ is a classic example of an enfatrabon Number of Customers tunion Gaiions) l gat:ery water supply. GRU, after pursuing (Annual Average) and obtaining matching funds from a 50,000 10.000 State of Flonda Histone Preservabon 45.000 9 000 - Grant, completed the restoration of 40,000 8,000 Boulware Spongs this year Now the 35,00o - 7,ooo tacihty is a state and nationaBy regis. 30.000 6.000 tered histonc landmark, and has been 25.000 5,000 des'gnated an Amencan Water Works 20,000 4.000 l Landmark by the Amencan Water Works 15.000 3.000 ( Association 10.000 - 2,000 - 5.000 1,000 W:tsr Supply and Treatmeit 0-0- GRU obtarns its water kom a confined '86 '87 '88 '89 '90 E '87 '88 '89 '90 region of the Flondan aquiter which is under artesian prQssure and has ample reserves to meet Gainesvilie's growing i needs lhls water supply is protected Water System Wastewater System Dillings both by thick impermeable layers of clay Number of Customers (%Hinn Gahons) and the tendency for water in the aquifer (Annual Average) to leak upward. a double measure of water quahty protection from surface g_ T C ty eli held currently has eight ~f - ] -- ~ production Wells Wdh a Combined pump 30,000 - 3.000 ing capac ty of 40 MGD (mdhon gallons 25.000 - 2.600 - - por day) To accommodate the fore 20.000 2.000 - - Casted increase in customer demands. 15.000 1,500 --- the first of three planned new wells has 10,000 - 1000 - boon constructed and wdt go into pro' 5D00 - 500 - duchon in 1991 This well was carefuhy 0-0- designed to seksct only the zones of '86 '87 '88 '89 '90 '86 '87 '88 '89 '90 the Flondan aquifer with the Icast mineral content in order to minimize

) A 1 The Depot Avenue repump stabon west Ga<nesville adjacent to Lake bon of the plant s fdter systems Energy project included renovation of a tet red Kanapaha 11is the only rnunicipal wasto costs are substanhal for wastewater milhon gaflon tank prWiously associated water treatment plant in Fionda designed treatment, and the study found poton-with GRU's downtown water plant and to meet donking water standards and bal savings of up to 204 The fater installation of new pumps and controls permitted to directly recharge the lower rehabihtation project. scheduied for 11 enhances bre flows, pressures and zones of the Fiondan aquifer completion by mid 1991. will ach: eve l service rehabahty in tho downtown area Construction of a 51h700.000 upgrade improved capacity and rehabihty GRU's i The 16 inch d;ameter transmis90n main at the Main Street Wastewater Treatment Plan of Study to cletermine the feasibihty was constructed on campus along the Plant began this year The project is of us:ng Lake Kanapaha for high quahty northern boundary of the Univers:ty of entirely devoted to upgrading the treat-effluent disposat was approved by the Flonda 11 provides much needed trans-ment ability of the plant to meet new FDER This concept is one of several mission capacity across town and sig-state standards designed to better p:3 reuse propets GRU is pursuing in nihcantly improves fire protection and lect Sweetwater Branch This project Wdi southAest Gainesvdle Due to the hyper-pressures on campus and in the College replace obsolete inckhng fdters with state-eutrophic character of Lake Kanapaha. Park area. Cooperabon from the Uni-of the-art es, tended aeration activated the proposed discharge Could act to versity of Flonda subatantially reduced sludge process units Additiona! new improve the f shing and recreational the cost of otherwise routing the facihty facihties include (?ffluent fdtration. gravity uses of the lake l along heavily dweloped streets belt sludge thickeners, and major improve-monts to the plant headworks to control Wastewater Collection j odors and improve plant rehabihty The Major efforts in Wastewater Collecbon Wastewater Treatment project is being constructed in a phased include the maintenance and sepair rI l GRU operates two wastewater treat-manner to assure conbnued operabon costing facihties, infatrat on and inflow ment plants with a total combined of the plant while bnngtng new pro-reduction, and construction of facihbes capacity of 175 MGD The Main Street cesses on kne as soon as possible. and to accommodate new and increased Wastewater Treatment Plant located just will be completed in mid 1992. Federal wastewater flow Two major p<pe soahng j south of downtown Gainesvdle is rated grant funding in excess of $8,700,000 rehatehtation pro ects were completed. at 73 MGD and discharges to Sweet-was secured for construction of the resulting in the Seahng of appronmately water Branch, a small picturesque stream upgrade 3.800 feet of pipe and rehabihtating 81 which eventually flows into Paynes Construction of new $2.900.000 services in the Ormand Leigh and Lincoln Praine. The Kanapaha Water Reclama-Sludge digestion and sohds thickening Estates areas GRU added its 134th hft l tion Plant is a 10 MGD advanced waste-facihties at the Kanapaha Plant were stat,on (Lift Stabon 271 which wdl service l water treatment plant located in south-nearly completed in 1990 The project the Commefclal area aQund Nortt jg included a third aerobic Flonda Regional Hospital Design of sludge digester, gravity another master hft station to sW" ice the i belt sludge thickeners, Tower Road area was completed and j plant service water and the station is scheduled to go into service i headworks facuties The in bscal year 1991 l new digester was added to comply with recent GatorNationals EPA changes in rules The GatotNationals is one of the governing the amount of largest annual drag facing events in the digestion required poor United States, generating in excess of to employin0 the sludge $16 milhon annually in local revenue -g for agncultural purposes. The National Hot Rod Association J Federal funding of (NHRA), wishing to expand attendance l $1.300.000 was obtained at the event and attract sponsors for for construction of these another major event, found the lack of facihties and acqvsition sanitary facihtecs to be a major stumbhng of new sludge hauhng block Recognizing the potential benetts equipment for the Gainesville community to be A major optimizabon reahzod by helping the NHRA. GRU i study of the Kanapaha teamed with the University of Flor da's j Plant, ccrfunded by the insttute of Food and Acyicultural Sciences National Science Founda (IFAS) to develop an innovative treat-tion (NSF) and performed ment method to solve the NHRA's prob-by University of Flonda loms The system incorporates conven. Abre: GAU customet enfos a warm shoer researchers, was com-tional treatment and aquatic plants to and uses a water sawng shower head pleted in hscal year 1990 The stuck remove pollutants Most of the year, the i dstnbuted tree of charge by GRU Right: conducted by the University of Flonda, system wdl provide treatment for f sh Sandy thmes, sen or laboratory technoan. indicated that with minor modthcations production ponds. and will store and uses state ot the art diagnostic and restin9 the Kanapaha Plant has 20% more treat GatorNationals wastewater the a$sm treatment capabihty than its onginal remarnder of the year The project will e a r a o/s t gaf, go,7,y design values and wdl allow the deferral be funded in part by a $200.000 state l of several major capital expenses grant due to the protect's demonstration l Additional major projects completed of a technique to resolve a major problem at the Kanapaha Plant include an energy confronong aquaculture in Flonda - reduct on study and the award of an treatment of f sh wastes engineenng contract fe' the rehabikta ~ -

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- - - - - -. ~ - - - a The Natural Ga3 SyCtem piaced the nation's natural gas pipe-A tang ble financial beneht for the lines under open access, with the public occurred immediately upon RU'6 Natural Gas System estn. adentages deschbod in the Power acquisition The City abohshed a pre-l h butes an efficient, clean burning Systems section of this report These viously enting 4% franchise lee con-source of energy well suited to Savings am being passed drectly to current with the transfer of ownership customers in the form of lower pur-Poor to the acquisihon. Gainesvale Gas end uses requinng heat. GRU acquired the system in January,1990 in order to chased gas adjustments Company was actively pursuing a rate increase before the Flonda Pubhc Service obtain a vanety of benefits not only for i natural gas customers, but for the com-System Acquisition Commission This rate increase request bined utility system as well The acqui-The provision of natural gar service was withdrawn by the City, providing further financial beneht to the customers sition involmd careful planning to best by pnvate firms had been franchised Ad$tional bennfits include a unified bib protect the interests of the gas system by the City since 1887. The most recent employees while obtaining the dos: red franchise agreement with tne Gainesville lang and customer service system, GRU s benefits Gas Company was a 30 year agreement low costs of capital, and economics of that expired in August of 1989 Prompted scale for fuel and other commodity G:s Facilities by this expiration. the City evaluated its purchases The natura' gas d:stnbution system options under the expinng agreement i i consists pnmanly of 410 miles of under-and determined that GRU could provide Operation and Expansion ground dtstnbution and service knes the same level of gas service at lower GRU is one of the few natural gas The system is conhgured in a series of costs with the savings being passed @ cms whlCh conducts leak surveys i large service loops with valves strate. directly to the pubbc The City began throughout the entire distnbVtion system gically located to enable the isolation of negotiations with the Gmnesvilie Gas on an annual basis This important either large or small segments of the Company and in January 1990, safety pmcaution mqmms employees to i system to provide for emergency repwr entered into an ' Asset Purchase Agree physcaHy waA the entre length of i or routine maintenance Although the mont" with Gainesvdle Gas Company main and service knes throughout the distobution network GRU maintains an gas system has costed since 1887. most wherein the ownership of the natural of the distnbution system has been gas distnbution system was conveyed acbW damage pmMtion prog'am installed since 1960. to the City The cost of purchasing the designed to inform contractors of the The gas system serves approomately gas system wat estebbshed at approo, presence of natural gas knes in areas 20.000 customers Gas service is pro. mately $13.000.000 of construction The looped system dis-vided within the city limits and in the One of the City's objectives during inbution system configuration helps to rninimizo loss of service to customers unincorporated parts of the county the acquisition was to retarn and pro due to kne breaks As a resuft of these 10 immediately adjacent to the City The vide comparable employment oppo, area served is approomately 94 sauare tunities for all former Gainesville Gas practices, GRU has achieved and will ~ mdes and includes the University of Company employees, excephng top continue to maintain an exceHent safety Flonda (the largest customer) lhe sm corporate officers A comprehensive and rehabihty record, complying with all largest customers are served under p!anning and evaluation effort allowed state and federaf guidehnes for construc-interruptible service dehvory provisions GRU to fulfdl this objective GRU's boa maintenance and safety in the Natural gas is dehvored through four insightful planning made the transfer of operation of the natural gas distobution points to the gas system from the Fionda ownership and operation of the gas system. Gas and Transmission Company (FGT) system practically unnoticeable to gas Since the acquisition, major gas pro ects cumpleted by GRU include the Recently implemented regulations have customers completion of an 6 inch steel gas main j extension along NW 39th Avenue designed to continue south and tie into Natural Gas Natural Gas an oo@ng bne at Mmy Road W (whon Therrns) Number of Customers completed was an extension of gas Mnnual Average) facilities through Hatic Plantation These 50 20.000 six inch and four inch knes wdl allow 45 18.000 ~~ future expansion and will support system 40 16 M expansion in the southwest sector of 35 14.000 the service area 30 12m GRU wdi conhnue to promote natural 25 10.000 gas as a safe and economical resource 20 8,000 to fulfdl a porbon of this community's 15 - 6e energy requirernents GRU's gas drstn-10 4M - bution system extension pohcies are 5 2M comparable to pohcies for electric, water and wastewater extension, and '86 77 '88 '89 '90 '86 '87 '88 '89 90 wdl accsmmodate and facihtate con-tinuing development in this community Right: McMurenent and Mauntenwte it'chmaan wren lang keeps a cbse eve on on l'ans'mssion pipehnes inset: I J Shew a Cms A jobber. repws and adjusts u gas isnme to enswe opremwn hear +ng ~.. -_..__-,___.-.______.m -.m_

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Customer cnd uttamer und Adm>neatwe Information systems AdtnInlatrallVS $6rVICes M V' CPS OUN*I*05 " *'de A new Cupomer and Biking informa range 01 s.ervices prooded tion System was de90ned and por direct!y lo GRU customeis as Weh as chased and Alh be on hne Dy lhe tdh ol support tunctions for other amas of 1991 ReQuinrig hew equjyDent. ab Weh ulihty opef ations lhe dNeri.e servi (es as soitWafe. lhe 0)1.tefn de9Qn Was the and funcDons provided range from fNrv Outcome of an etten9ye piantyng pro icing individua? custoner accounts. pro cess evaluating the informabon needs 0 the entire utsty operatron As a 1 vittng and maintaeng informabon sntems ha$me and so'tware to resutt. the system Mi not oniy greatly managing the de9gn and construebon enhance customer respon9veness and of the new GRU administration budding. Leobety. but win provide entical infor and periorming budget. Onance and mabon for integrated fac+tv p:anning accounting functions and impromd rate structure de9gn and implementation Customer Operations Administrative Services Several new programs were instituted Depgn of the new GRU administration in the past year to improve the com-building was completed and g'ound municabon tietween customers and breating took place in Fobruary of 1990 employee;, A Speakers Bureau was The tour story 09000 bquwe foot budding estabbshed. in which speaaHy trained wdl centrahre admostratwo. engineer. and equipped employees are prepared ing and customer service funcbons. to present a tenes of programs about great!y increa9ng the ethciency of com-GRU s services. facmbes and pohcies to munications and improving custorner local business organizabons and cwie accestiba tv The build ng will demon groups A senes of " Power Lunches" stmte some advanced architectural were held, a form of market research dowgn teatures which will reduce elec-de9gned to Lohcit ideas and sugges tncal concumption. Onhance space use tions about customer wants and needs f;eobaty and improve the productwity Randomly selected customers were of the occupants The budd!ng s step introduced to top GRU management in back proble was de9gned intentionahy an informal atmosphere to blend with the surrounding environ 37 to encourage meaningful ment and a commissioned sculpture dialogue GRU frequently MI be displayed at the entrance in performs surveys de9gned support of flonda's Art in Pubhc Places to assess service dekvery program A heavy emphaus on value and trends in apphariCO engineefing and Cost efieCbveriess in usage A signihcant hnd the de9gn phase resulted in a con p ing was a measured high struction contract of E300000.16% ',3 readership of GRU"s under the inibal budget estimate ~ customer newsletter, the Two major inmatives undertaken by dc "GRU BuHet n" and this group to reduce operabog costs n appreciation of the pubhc addressed travel time and inventory - s g_' service announcements control in cooperabon with Electoc a f " 'N ) h contained there:n The Operabons kicat'on planning and acque exceHence of this news-9 tion of a site for a new Westude 1 b

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letter and the quahty of Operabons center was completed The iLs. 1 GRU produced educa land was acquired for 23% less than n hf tional Videos received the land s appraised price This facihty + {..y statewide recognmon as wdl house construct on and maintenance I recipients of this year's personnel to better ser e Gainesvdle's v growing westem ser ice area by reducing prestig'ous " Golden v Image" awards presented travel time By apphcation of improved by the flonda Pubhc inverlory management techniques, over-Relabons Assocation an inventory wat ieduced by 10% without

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M ilaf)CIAI StartWfl M y a,nesville Reyonal Utahties' for the gas system lhe tialance, less financial porlormance conbnued accrued interest, was $23600000 at to exceed espectabont Com-the end of the year bined System reverwes were higher GRU continues to operate under a than budgeted with each exponencing formula which determines the amount increase over the previous year of trander to the City's Gencrat Govem-GRU s four systems produced com-ment operations Based on this formula. bined not revenues for the tscal year of GRU transferred $15,154.322 in f, scal $60 279.999, creating an aggregate year 1990 representing a 163% increase bond debt service ratio (not revenues over Oscal year 1999 div,ded by aggregate debt service) of GRU s Tas Exe mt Commercial Pape 307 and a total debt service rato (net (TECP) program anbnues to produce revenues divided by total debt service) con 9derable savings for GRU s rate-of 2 27. The to'ai number o retad payers The average interest rate on the r customers for the electnc. gas. watte outstanding paper was $63% for the and wastewater systems increased over year This ranged from a high of 694% the previous year by 3 7%.18% 31% in September to a ion of 510% in and 33% respectively February The average matunty of out-On January 10.1990, GRU purchased stand ng paper was 60 days Demand the local natural gas d,stnbutton system for GRU's.;ommercial paper remained from the Gainesvike Gas Company - strong. and credit rabngs high, with a a povately held company As of P1 from Mcody's investor Services and September 30.1990, the gas system an A14 from Standard and poor's At had net plant assets of $13504 764 and the end of the fiscal year, $73 261.000 not revenues for the year of $1.049667 of TECP poncipal wat. outstanding, This purchase is projected to merease dowr $1542.000 from one voar ago GRU's net revenues whde redupng gas GRU maintained its 'Aa" tiond rat ng costs to retad customers from Moody's investor Services and its GRU was once again in a favorable "AA" tiond rahng frcm Standard and postion to make electnc interchange Poor's con 0nuing its inombership in an sales -- both fem and non fam -- to eide class of the best municipa! ubhbes other Flonda utikties Energy tales in the nanon 14 increased by 168% over FY 1999. pro Capital improvement fund ng for the vid,ng gross revenues for the year of fscal ycar 1930 amounted to $23 200000 $16.173E85 'hese sales also generated Not utihty plant increased $25.300000 net revenues of $6.821,577 A!! hough dunng the year, to a balance of interchange sales continue in be an $4 t3,200000 at the year's end important part of GRU's revenues, the Ga,nesvdie Regionai Utikties cont,nued system recognites the need to provide its hoancial tradibon as one of the most financial stabihty to this income source focum investments avadable GRU's Pursuant to that goal. GRU cont nued outstanding Onancial health is a matter to contract fam energy sales agree of pnde for its ernployees They work ments with the Flonda Municipal Power hard for the privdege of telhng their Agency (FMPA), the City of Starke, Inends and nosghbors that GRU offers Flonda, and has further ttatuhted fem among the lowest rates and mont sales by initiating a ten year agreement dependable service in fionda with the Reedy Creek improvement Distnet (servicing Disney World) for 30 megawatts of hrm energy sales This latest agreement began this Oscal year Addibonally. GRU completed the second year of a hve year agreement with Seminole Electnc Cooperahve (SEC) for the provision of energy when SEC units are off-kne or de rated in capabd ty These fem and reserve capacity energy sales accounted for 76% of the not revenues from interchange sales in 1993 The balance in the Rate S'abihzation Fund (RSF) less accrued inurest, was $19 7 mdhon at the beginning of the year Rate stab:kzation actvity for the hscal year included the following. l $426,959 was withdrawn from the water system A deposit of $1,762.353 was i made for the electnc system. $756479 for the wastewater system, and $1.740.325 i

Revenua Ecrned/Fisc 1 Y;Or 1990 Electric General Service, Sales for Resale, 3".[s,D, q T Larger Power, i .[g[W,.f,: ( (- Fuel Adjustment .I) 7 "$hjq & Other Power Sales 355% $51,687,470 t. l a -e ll fh

y 79 0% D Electne system A

\\ h;h j Revenues $115.076 473 et - -45 Y 9-6 9% C waier svsiem Revenues 10 040.137 9 6 4% E Wastenater 5

• Electric Residentiail Sales 20 9%

l System i Revenues 12 284 424 $42,163,108 5 7% U Naturai Gas Revenues , _ 8.345,026 a S-, Other Electne Revenues 3 5% $5,052.210 Electne interchange .f fg",'31f.0 $1 73 065 'N Water Revenues 6 9% Wastewater Revenues 0 4% $ 10.042.137 $12.204,424 R; venue AHocated/ Fiscal Year 1990 Natural Gas O&M Expenses 1.3% Natural Gas Fuel Expense 3 7% _ $1,061,531 $5,433,828 N b UPIF Transfer 13 7% I $20.026,153 Miscellaneous Transfers 10.0% $15,439,721 General Fund Transfer 10 4 % Wastewater O&M Expenses 4 4% $15,154,322 $6.443,603 l l Water O&M Expenses 3.4% $5,004.048 Debt Service 66% Electnc Fuel Expense - $9.659,802 Interchange 64% $9.352,108 l Electric Fuel Expense & Purchased Power - Retail & Wholesalo 20.5% $,697,080 Electnc Other O&M Expenties 190% $27,675.864 58 7% E Operation and Maintenance (O&M) l Expenses $85.468.062 6 6% E Debt Service 9.659.602 l 13 7% C Utility Plant improvement I und (UPIF) Transfer 20.026.153 10.4% G General Fund Transfer 15,154,322 10 6% 0 Miscellaneous Transfers 15.439,721 $145.748,060 l l

Mate 3 Schedule Charges for servicer, in effect at the Large Power close of the fiscal year September 30. (Establishea domand of 1000 AW or 1930, for major customer classes greater) Customer Charge $6084 Electric and Gas Rates gy ar00 M7nWh The following monthly rate schedules Demand Charge - $4 26'kW are "b'.se rates" and include an electric tuels charge of 25 milis per kilowatt Residential Gas hour The additional variable monthly Customer Charge $600 fuel adjustment charge is not includ(K1 Non fuel Energy Charge $ 22010 Gas rates r,hown do not include the Der therr7 purchased gas adjustment por therm General Service Gas (Firm) factor which vanes monthly as well The Customer Charge $1500 minimum bill is the Customer Charge Non fuel Energy Charge $ 10317 plus any appbcable demand charge r herm Residential Electric mum bill ts the Customer nr y hr r kilowatt hour (k\\ h '#'90 First 750 kWh $0064FAWh Cwomer Qarge $290 Over 750 kWh. . $00088/kWh Water Rate $082/Kgal General Service Non Demand (A demand of 50 kilowatts (kW) or ',. *r('{rn M rs the Customer greater has not been established) Customer Charge $913 lt r Charge $211 Energy Charge . 50 0764'kWh Wastewater Charge $211/Kga! General Service Demand *'*

• d " * **'" **'"

(Established demand of bo kW but less

• • ".* induce Tane of ose raic to, cutre recuest lhan I.000 AW) cosia,ners w,isi,,wnter rates e, resgieni,ai Customer Charge

. $1582 eusuners noi conneced to ine svuen out Energy Charge $00540/kW satye to rates and enuges wavowato, rnies Demand Chage $4 67/kW k" 'noente cumwners otoning weer from unmete'od pnvate ves eid d scharging in'a ] the antem and intenuptue gas rmes Fiscal Year 1990 Residential Rate Comparisons 1000 kWh Consumption o.m. . n.0.ee.,uuiit.. zi.4 l 86 00 7443 78 20 JackernwH6e E6ectric Authority l6995 7733 75 57 77i7 l -79 85 1 0 10 20 30 40 50 60 70 80 90 100 Dollars

w 7 .. g ;d. r '4' .{ s s ,, g 4 - ;i ~:ig ? 2 s s 4 > g, 6 JGAINESVILLE; REdlONAL ~ UTILITIES : m ~* 4 p 6' [The Combined Utgity Funds'of,The City of Gainesville, Florida m V floport on Audit of Firtancial Statements and Supplemental Data 7 p ,sl * ?100 theyars endbd September 30: 1990 and 1989' ..g 4 U f 1 .)'- zReport of Independent Accountants' t -3 ,+ p ? il' e Honorable Mayor'and Members, 9 h - l the Ody Commission e ,- ' ' ' City of Gainossilef ' Gainesvllle, Florida 32601; s 1 ,iw =

g4 y

i 5 glo have audited the accompanying balance sheets of Gainesvine Regiona! Utihties (the Combined Utility Funds g94 c L of the City of Gainesville, Florica) as of September 30,1990 and L1989,= and the related statements of revenue s* . /and expense and retained' earnings, and changes in financial position foi the years then ended. These financial ~ t N statements are the responsibility of the City's management Our responsibility is to express an opnion on these - l [ financial statements based on our abdits?

. g s

e, :'We conducted our au@ts in accord 6nce with generally accepted auditin0 standards. Those standards require' 4 ithat we plan and perform the auf.( to obtain reasonable assurance about whether the financial Statements are i J free imaterial misstatoment. Ar -audt includes examining, on' a test basis, evidence supporting the amounts '

3 jand disclosures in the f.nancial sta'ements. An audt also inckides assessing the accounting principles used and

.f 4 ' / sigrdcont ostimates made by management, as well as evaluating the overall financial statement presentation, ? We believe that our audts provide a reasonable basis for our opinion.' 7 ~- w. .,F ~ ~ > r_ 37 l In our opinion, the financial sistements referred to above present fairly,'in all niaterial resp (x:ts, the financial position ; 's of Gainesville Regional Utilities as of September 30,'1990 and 1989, and the results of its operations and the ' j' Nchanges tri its hnancial positiort or the years then ended in con!o'rrnity with genefally accepted accounting + f n ' principles. V .r 4 s y g N),L g g g' 'N 3 . ~ 7 ooper's & Lybrand ; =t, C s seksonville, Florida? 7 ~ * ,3+- 3m h!' N, ~ s m; y DaviscMonkl ~ + I l 7 Farnsworth & dompany ;~ . Gainesville,, Florida

l s

l~:y h h ..... 30,-1990 .g /

November jc r

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y 3 ,[ '. t / _ ,o m.. [ }. f I'~ ~ -b, xGAIN,L MLLE REGIONAL IJTILITIES J m 0 ' c Balance Sheetr _ c' a [ $e'pterhber"30,;1990 and l989 y t />, .7 _g . p

• ASSETS--

>x 1,.. [h:- t s v e < ~ f i 1 . Utility plant:. > $,. 559,950,769 $ ' 527,814.939 4 , UtSty plant in service.. . OConstruction in progress -21,444.253 10.892.842 ,t... y 581,395,022 .538,707,781 '.e. ,c fless:: Accumulated depreciation 1 and amortization.,,,. J. a '. 7(168.19h671) (150.806,217)- 1 t -413.203,351 387,901,564 lot,6tihty p' ant '.,... ....m. . Restricted assetst ' 4 1.329,212-1,338,139' i Capita' faciltes. - Cash and investments...

Utaty deposits -, Cash and investments..

J 3,070,818 .'2.891,173 1,. Debt service fund - Cash and investments.4 98,549,051 90,677,590 Rate stabilization fund - Cash and investmen s i..,,. 23.005,740, 19,729,209' O^_ _ _ ~ Construction fund = 68,874.270' , 99,709,721 '

iCash'and investments

.1, 9 - .,+... 1,059,775 l Contractsiin; progress.:.,4 337,283-J

Due from other funds

... ~

.o.. l Utaty plant improvemoth fund 5.915.454' 3.'233.808 ' Cash. investments, land receivables "., !18L ...=s 199.081,828 218.639A 15: '70 tai restricted assets..,., .w.... i 1;1 x Current assets: 3 ., J.- 22,576,231 '19,832,142? 3 Cash and short term investments. - ~, Decomrmssioning 'reservo u Cash and investments. .i. ~ 965,368 672,481 50,000: 50,000 Water pollution emergency reserveH Cash and investments- ' Accounts receivable (net of allowance for uncollectible l haccounts; $651,000 in 1990 and $431,000 in 1989) 22,564,309- !16',833,668 + "Due from other fundsi, .;o,..s. _1,506,370: .1 '308,909 19,845' Prepaid expenses.. .s. ^ ' inventories --.'. 'a ~ Fuel,.. t .s. 7,955,943- .5.311,709: -5,121.107. 4.697,623; DMaterials and suppnes.,..i ! otalcurYent assotsa, ' 59.541,867 49.123,838 T .s. t ' - Deferred debits i... J, ' 37.196,674-35.869.91' - 8 L ne. 15 709.023,720 $ '691,534,735 , ~. f Totalassets, s . -i .A "g' s See accompanying notes. f- ?- i. ~. i ? y g , p L ? -

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-g ,t. w w .yc? --LIABILITIES AND FUND EQUITY-5 ' ^ j 1990 1989 y 4 ' u ' t (Sng-term debt and fundequity: . Long term debt -: s Utilities syster6 revenue bonds..,, $ 359.508,692 $ 1361,233.692 -W - Utkes system commercial paper n?tes -73.261.000 74.803.000 _ 436.036,692. 432,769,692 E 1 ~ (7.338,109) ~ (7,652,304) f j Lessiunamortized bond discount;, 0 otal long term' debt ;. 425,431,493 428,384,388 ; l T ye [ Fund equity -- 4 Contributions in aid of construebon.., a. 69,751,130 63,433,834' Retained earnings. . c. ..,J, 172.906.926 169.697,926: 242,658.056 233,131,760 L Total land eaulty.,,.... ^ 668.089,549-661,516.148 c+ 70tallong term debt and fund e_ qu:ty. y,. . n 4! Payable from restricted assets:

Ut$ty deposits','.. _,,H.,._.

3,447,427- ' 2,891,173; Utihties system. revenue bonds payable: current.. 1,725,000 Accrued interest payable'.. .h......i. '15,660,997 -15,586,545 19, + Construction fund < f"'b Accounts / contracts and [ retainages payable. E. a" 1,166,512 2.085,670 7 Due to other funds. i ; _ y: -J/ < E Utihty plant 4 improvement fund - . s ? Accounts payatso and accrued 340,668: , e liabihties ?.i ;. ;, 505,177 s '. >l Due to other funds, -.,,,,. e,.

i; 408j35

+ = 1 l Total paybble from restricted aisets... 21,747,336 l22.070.568 - , L Current liabilities: Fuels payablo :,,,,. ,,=,.,;. 4,369,612 3,759,125 y.- f" oAccounts payable and accrued habikties. ~,.. ~ ' 7.300,831 3,421,240 -Coe to other funds., 669,043 u ,a, n se ~ Total c,urren,t liabilities i. 12,359,486. 7,180,365 r e Q,. 6,~827.349 '767.654 { " ' Deferred credits.,, m $' ' 709.023.720" $ 691,634.735 Total habilites and fund equity. ..o.r 4 e.:==== g 'i 9-3 .i I 1: 'l i." r E,."E-f5 ~ '__.._F y ) J _. __ < _ : ___._1

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~ GAINESVILLE REGid AL UTILITIES [ Statements 'of Revenue and Expenses and Retained Earrdngs ' foY the years endeb September 30,1990 and 1989 ' 1990 ~1989'

Operating revenue:

' Sales and service charg'es.. = . - $ 136,952,392 $ ' 116,904.632 ' Other operating revenue ~. 1,535.254 1.057.588 Total operating rewnue. 138.487.646 117.962.220 i Operating expenses: ', Operatio is and maintenance.... 68,567.758 54.010,824 ~ Administrative and general.. '16,900,304 - 18,536.907 18,497,701-16.380,034

• Depreciation and amortization..,,.

Total operating expenses,, 103.965.763- ~ 89,827,765' 34.521.883 28,134.455 Operating income. Non-operating revenue (expense): Interost revenue... 17,540,390 16,119,648 4 o '. Interest expense.... (35,551,650)' (33.443,185) Total nonmorating, venue (expense)..... ~ (18.011.260) ' (17.323.537) . Income before operating transfers, 16,510,623 10,5)D,918 s . Operating transler to general fund.. (15,154,322) (13,029.871) ' Net incomv(loss)'. 1,356.30) (2,218,953) 169.697,926 170,176,690 / Retained eamings, beginning. .t. ' 1,852.699 ^ 1,740.180 ~ Am,ortization of contnbutions in aid of construction $ - 172,906.926 $. 169.697.926 . Retained eamings, ending .i,.., - See accompanying notes. 4 4 i 4 A A

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4 JGAINESVILi.E REGIONAL-UTILITIES -

5.

StatementsLof _ Changes in Financial Position.

n_ ' Ildr the;ycars onded S6ptern6er 30,1990 and 1969= y 7 Y 1990= 1989L_ Source of worklNg capital: $ 1.356,301' $ (2.218.953) 7 Not income (toss),,' ' items not requiring outlay of. working capitaff x = Depreciation and amortization'...,, 18.497.701 10,300.034 19.d54,002 L 14,161,0811 i Wofking capital provided from operations -, / ! dtity plant sales and retirements S "1,106,130 1,717,297 ,,, y, 1 '8,169,997

4,947,588' 4 Contributions in aid of construction-,

100,366.361 Increase in utilty systerii revenue bonds..,,,. -Increase (decrease) in unamortized bond discount' 314,105

(797,120)

Increase in delerred credits ',, 5,968,514, 49,940i t V Decrease in restricted assets,, 19,557,587 s, :.-.t '_(846,062) 4,231,988

increase (decrease) in payable from restricted assets.,

Totalsource of whrking capstal, 54.124,273 124,677,135 j [Use of working coolta t J, ~ 30,195,570 1 20,226,221 . Utihty plant additions.,..., i ? - Decrease in utihty systerfi revenue bot ds ; 1,725,000 .., L, 2,291.954 3,097,695 . Increase'in deterred debits Increase in restricted assets: L 94,320,749 y -~ 1,542,000-1,482,000 -2L Payments on utdities system' commercial paper notes. Acquisqion of Gainesvite Gas Company., 13.357.469

7otal use of working capital.

49,111,993 < 119,126,665 .s. - Change in working capital,, $ ' 5.012.280 $ 5.550,470-4 y ChangesLin woding' capital by componenti v - Current assets -- increase (decrease)L f $ 13.035.876 $ ~ 7,894,629 - ' Cash arid short term investments, f.. ,5,, .,0.. 4,195,889 1,704,1583

Accounts receivable c,,.

(1,506.370) 1,023.692 oDuo from other funds,,... 7"- Prepaid expensos.,, .1., ' (24,347). (80,817) l . Fuel, materials and supphes' inventories. 2,690,626 ' (2,265,811); 3 Current liabihties - decreaso (increase); Fuels payable i,..,.. ?, (630,487) (1,655,256)

(669,043)

' :Due to other funds., ,3; j Accounts payable and accrued habihties. _(2,079.864) (f.070,125)' t.. .t.. Charige in working capital: $ - 5.012,280 $ 5.550.470 Seo'accompanyind notes. e s ;. s t .-'Y l n w 3 :( I A .2 !(5 I, h <x.._ ___-_i____.m.______m._______.___.__'.2._______,____,____.____

g. .... n. a fly (GAINESVILLE REGIONAL UTILITIES s ~ E c Notes to Phsanc4al Statements NSebtember 30,1990 and1989: \\> .c 4 3; h l1. Summary,0f Significant. Accounting Policles: s g ' Organization / ?- t ,[-, l Gainesville Regional Utilities (GRU) is a combined municipal utihty systern operating an elec'tric, gas, water and wastewater utikty.. fThe gas utility system was acquired January 10,1990, for approximately $13.000,000, when GRU purchased the natural gas. 1 ' distribution sycom from a privately held company whose thirty year franchise agreement expired. According!y, ther0are no ~ comparative figures for the year ending September.30,1989, for the gas utility. The acquisition has been accounted for as a purchasa; IBasis of Accounting s. LGRU consists di the Combined Utiity Funds of the City of Gainesville, Florida (City). The financial statements are presented - on the accrual basis'of accounting, Under this basis, revenues are recognized in the period eamed and expenses are'recog-nized in the period incurred. Rates are designed to recover debt service e nd operating fund requirements and exclude deprecialon

expense and other noncash expense items: This method of tate setting results in costs being included in the determinai;on ~

' of rates in dfierent priods than when these costs are recognized br financial statement purposes The effect of these differences ' are recognized in the' determination of net income in the period that they occur in accordance with GRU's accounting prin- ' cipies, GRU has adopted the uniform' system of accounts prescribed by the Federal Energy-Regulatory Commission.

innstrnents

~. Investments are stated at amortized cost.'Pfemium or dscount is amortiiod over the Investment's maturity based on the interest . method / ^,3 'y } ') y v , 'Inwnhories ~ + A. ~ InWntories are stated at cost using the weighted average unicost method for materials, a'nd the last in, first out (UFO) m,ethod ~ t for fuet,0bsolete and unusable _ items are reduced to estimated salvage values. +' 1 I IUtiirty Plant L Property ard equipment are recorded at cost or estimated original cost where ap'phcabla Maintenance and repa;rs are charged / to operating expense aslncurred. The average cost of depreciable plant retired is eliminated from the plant accounts and such J cost, plus removal expense less salvage, is chstged to accumulated depreciation. +

Depreciation anci Nuclear Generating Plant Decommissioning.

i _ Depreciation of utility plant is computed using the straight line method over estimated service lives ranging from 20 to 40 years, Deprecie' ion was equivalent to 3.12% and 2 89% of average depreciable property for 1990 and 1989, respectively. Deprecia-4 - tion capense includes a provision for decommissioning costs related to the jointly. owned nuclear power plant (see Note 6) at c Lan annual rate of 3.6% of GRU's share of the estimated costs y IEmortization of Nuciear Fuel 'g m ' The cost of nuclear fuel. Including estimated disposal cost,is charged to operating expenses. These costs are charged to customers i through' increased rates or through the fuel adjustment clause. ~ f k.

• Vw

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gv mg y, ,s f y' + f,i A-'. v qNotesL o Finandial statements, conti,nue( t p y. k i p Gt k

Utility Revenue' R6 cognition;

{N M, '_Ut$ty revenue is recorded as eamed Fuoi adjustment revenuois recognized based on the actual fuel costs Amounts charged [, L based on estimated costs are adjusted month!y' for any difforences botwoon the actual and estimated costs once actual costs F are knownc k(- 'Interlund Transaction - J intojfund transactions and contobutions are generaili made as foquircd interfund transactions and balances, except direct - F " bilhngs for utility services (see Noto'4). are oliminated for the Combined Utility Funds 11ntorfund loans do not boar intorest, C (l, fundi en Accordince with bond Resoluttons Cort'ain restr'cted funds of GRU are administered in accordance with bond resolutions. These funds are as follows: i s/. t Debt Service Fund - Subord;nated indebtedness Fund +; Rate'Stabihzation Fund Utikty Plant. improvement Fund ' jJ 'i, > L,C. onstruction F. und 4 p (^ The Debt Servico Fund accounts for funds accumulated to pro ride payment of pnncipal and interest on'or redeem outstanding. W, ~ Utilities system revenuo bonds. : L The Subordinated Indebtedness Fund, grouped in the cebt service fund for financial reporting purposos, accounts for funds [w t accumulated to pay principal a'nd interest on subordinated indebtednoss 23: 4 g, g i Tho.Rato Stabilization Fund accounts for funds accumulatcJ to stabilizo rates over futuro periods through the transfor of funds ' { ..to and frorn Revenuo Funds as necessary,: ( ,The' Constructen Fund accourits for funds accumulat"od for trie Cost of Acquisition and Construction. ,.,a = g_ ~ The Utiht Plant and improvement Fund accounts for funds used to pay for certain capital projects or debt servico, the purchase I lor redemption of bonds,or otherwise provide for the payment of bonds. I C lAlloivance foi Funds Osed During Construchon r > 1 h = Ariallowa'nce for interest on borro'wed funds used during construction of $373,000 in 1930 an'd $327,000 in 1989 is.iricluded if yin construction in progress and as a reduction of interest expensa These amounts a're computed by applying the offective interest . mte.on the funds borrowed to finance the projects to the monthly balance of projects urider construction, lho effective interest / ' rates were approximately E7% and 59% for'1990 and 1989, respectively.1 Doferred bebits q k k Woferred ' debits (represent costs incurred that can be recovered from future revenue through the rate: making process over a g period usually ranging from fwe to thirty years. e Contributions in Aid of Construction . Otsty plant in servico for the water and wastewater funds inciucos assets received from contnbutions in aid of construction, The amount ci amortization expenso included in the Statement of revenue and expenso and retained earnings relating to the 1 zcontributed assets is credited to ' retained earnings to reflect the transfer of this amount to the related contributions account, l l . Riclassification -- {' Certain' amounts for 1989 have been reclasql:od to conform witn the 1990 presentation. gi e

~ 3 k' .-r'[_ d z. p .-1 g. . ~,' [ pp ,i: g( "*E. . j. s )q/ 4 1 4 ~ .s _1. ^ 7+ :i ~ !Noles t6 Financial Staiem hts,;continuddi e; ; b. .r yg,. . c 3 .r> q-0 ,[2, t.ong Term Debt: .L; xt Long-tecn debt outstanding at September 30, consisted of the following: \\ -( 1990 '1989-1 ~ Utility System Revenue Bonds, Series 1983 (1983 Bonds) , i C Pnncipal payable semi annually to October 1c 2014; interest at various ratos between 6% to 1025% ' $ 184,27S.000' r $ ' 186,000,000 J l s - P Utilities System Revenue Bonds,1987 Series A (1987 Bonds) - . Principal payable semi-annually to October 1. 2017; ^ 74.867,331 ' intorest at various rates between 5.6% to 84%., ~74.067.331 .. Utilities System Revenue Bonds, Series A 1989 (1989 Subordinated Bonds) ' Principal payable semi-annually.to October 1,2013, 3 - interest at various rates between 6.4% to 7.26%. ;... '100,366,361 .100,366,361. Utlhtiss System-Commerical Papsr Notes, Series B (Series B Notes); s _ Principal payable no lator than October 20,1992; m - interest at varjous market rates, u i.....,,., 73.261,000 :. -74.003.000 - yp p g 432,769,692 436.036,692 ' 4 - Less: unamortized 6cnd discouni..,, (7,338,109); (7,652,304) .,s. ^ w " \\ D Total long-term debt, ' $ 425.431.493 $ 428,384,388 ,4 3.,.,,,,.,i.. -t LV, . f; ~ GRU is required to deposit monthly into separate accounts an amount equal to the pro-lata share of the amount of principal ' and intstest becom_ing payable on.the payment due dates (April 1 and,0ctober 1). y - b 't s a n .e I j-t .i , !i S 3 I' u '. ) ! f 't l 1 4 , 1 .) .1 l e y c. -mi- - - - - -. _ m ______________,,.,_m__._.m_.,_ ___A

y~ p R s [ Notes . Financial Statomonts, continued V', E. lj 9 f: 2; Longterm Debt, continued: E The following table hsts the Debt Service Requirements on the bonds outstanding at September 30,1990. f Period 1989 lotal Not: 4 L Ending . Senior Uen - Subordinated Debt Service d October 1 Bonds (1) (2) Bonds (2) ,Roquirements (3} 1991 . 26,756,070 1,960,151 .28,722.221 l-1992 26,754,555 L 3,366,377 30,120,932 L. 1993 26,755,675 4,814,006 31,569,681 [ 1994! 26,755,000 - 7,678.628 34,434,528 [ 1995 26,751,350 7,874,147 34,625,497 f 1996 26.749,450 7,878,373 34,627,823 } 1997 26.755,360 7,8/7,372, 34,632,732 [ 1998 26.751,820 7,876,018 34,627,838 1999 26.753,588 7,873,837 34,627,425. 2000 26,302,841 .7,873,838 34,176.679 f 2001 26,751,443 7,873,837 34,625,280 1 gi 2002 26.750,188 7,873,638 34,624,026 F 2003' 26,752,383 7,673,837 34,626.220 [ 2004 26.750.640 7,873,838 34,624.478 t 2005 26,751,027 7,873,837 - 34,624,864 25 ( 2006. 26,752,640 .7,873,838 34,026,478 { 2007i 26,751,627 .15,213,637 .41,965,464 t 2008' 26,753,627 17,623,962 44,377,589 i? 2009 '26.758,321-17,629,412 44,388,333 -2010 26,753,827-17,623,600 44,377,427. i 26,751,403 17,622,900 44,374,303 3 2011 26,752,378' 17,622,238 44,374,616 ~ '2012 2013. 2J.755,827 17,626,538 -44,382,365-2014 26,754,527 - - ~ 26,754,527 2015 6,761,540 6,761,540 6,761,300 2016 6,761,300 2017: 6,763,762 i 6.763,762.- 601 913.669 5 233.284.259 $ 859.197,928 t /5) Includes the,1983 Bond's and 1987 Bonds. , (2)locludes pnncipal, cinking fund instanments and interestc net of capitakzed interest. ..(3) Excludes debt service paymonts on Series B Notes. g i k

y 3 y x, ff,pf. ' m[y Y ) " ^ b. ? a w, 9 Note,s to Financial Statements? continubd J ^ o y'. p' y + oe ?

,,;nn

-,,8 r

y s

i. 4 l,h i,$. '.\\ ' q f._ '

Vg,}

l' s s3y is 2.1.ong-Term Debt l ccIrdirkedi N p j p y x g k iThe 1983 Bonda maturing ori or after October ?1,1994 (except those maturing on October 1,2014), are subject to redemption : k .. i the option of the City on and after October 1.1993, at a redemption orice of 102W% in 1993, and 102% to 100% thereafter. j The 1983 Bonds niaturing on October 1,2014, a:e subject to redemption at the option of the City on or after October 1,1993c i mF 0 a redemption price of 100%l, +. 4 ~.,., is The 1987 Bonds maturing on or after Octob4r 1,' 1998 (other th'an GAINS Securities), are sukoot to redemption at the option F @1 of the City on and after Octobe(1,1997, as a whole at any time or in part on interest payment dates, at'a Tof 102% iri 1997 and 101% to 100% thereafterJThe 1987. Bonds maturing on October 1, 2007 to October.1s 2017, are subject 5 K', i to redemption through mandatory sinking fund installments beginning on October 1,2003 through October 1,2017, The GAINS ' iSecurities, in the amount of approximately $1,827,000, are grouped with the 1987 Bonds, and are subject to redemption at the - si L g ? option of the City on'or'atter' October 1,2020, as a whole at anytime or in part on October 1, or~ April 1, at a redemption pnce. ~ M,^ Rof 102% in 2000 and 101% thereafterc

Under th'e t'er'ms of th'e' Bond Resolution relating to[the sale of the Bonds, payment of the principal and inter' st is secured by e

'U - Lan irrevocable lien o'n GRU's net revenues (exclusive of any funds which may be established pursuant to the Bond Resolution (for decommissioning and certain other specified purposes), including the investments and income,'if any, hereof. ,k n LThe Bond Resolution contains certain restdctions and commitments, including GRU's covenant to establish and maintain rates. ~ Q Wand other charges to produce revenues sufficient to pay operation and. maintenance expenses, amounts required for deposit ~ 4 1 into the rate stabihzation fund, amounts required for deposit in the debt. service funds, and amounts required for deposit into.. ,} q f the ~ utility plant improvement fund-p y HThe 1989 Subordinated Bonds maturing on October 1; 2008 and 2013, are subject to redemption at the option of the City ~on-o ~ rand after' October 1,1998, as a who!e or.inLpart at any time, at a ' edemption price of 102% through September 30,1999, andf ' p ;~26 '.10t% to 100% thereafter. The Capital Appreciation Bonds, in the amount of $3,621,000, are grouped r i-4 ll Bonds and,' other than those maturing on October 1l 1999, are subject to redemption prior to maturity at the op. tion of the City, p "g* : on'and after October 1; 1999, as a_whole or in part at any time at redemption prices of 103% through September 30,2000, ' W y~ i e and 102W% to 100% thereaftera - 1

T 7 he 11lB9 Subordinated Bonds are direct and special obligations of the City secured as to tne paymen' of the principal or sink-s -

fT ng fun 1 redemption price and interest thereon, in accordance with their terms end the provisions of tne Subordinated Resolu-i V^ : tion; t / the Subordinated indebtedness Fund, the Subordinated Debt Service Reserve Account and the Subordinated Bond d G ; ; Payq ant Account, The 1989 Subordinated Bonds are suboidinated in all respects to bonds issued as first lien bondo CSenior ~

Lien 3onds") under the Utihties Syrtem Revenue Bond Resolution. Payment of principal and interest on the 1989 Subordinated t "

y % Bond when dug are jnsured by a municipat bond insurance policy issued by AMBAC Indem0ity Corporation. X 's 9Theseries'8 Notebrh outstanding under a Revolving Credit and Term Ldan Agreement dated October 1,1987 (Serids Bl g }greempt) ^ ^ n \\

Undei the terms'oflhe Series B ~ Agreement -GRU has the ability to' borrow with same day availabihty, up to $78,000,000 on a revoMng basis un,til. October 20,1992; at which time it may. convert borrowings to a term loan.

. Series B Notes hf $1.,542,000. wore redeemed during 1990. 4 + p x 4 I ) k p 4 y ( + h s .e ..( .1 h x s ,p 6 Jh t

f,j??g?c _ 4 ~ !} j y. a 7 se s y ^~" f $Noies'to FinaNelaiStatemC,nts" " O y -- w ^ ' + . 3, Hs p' if , w 44 i c. v t 4 .t n >/ j 4L w: 'e 'N' ,%,:, { ' s _y a Q ; 3; Deposits and Irwestmentsi a qi n (Depositsjre hold)r, an institution insured by the Federal Dopositorylnsurance Corporation and a's' roquired by the Utikty's - ^ .i . t Bond Resolution in a banki savings and loan association or trust. company of the United States or a national banking associa-s. . B. tion having capital stock; surplus and undivided oamings aggiogating 6t least $10,000,000. Doposits to the extent possible aro

• ~

$6L 1 : Invested; ~' a 5-t

?M p 2

~ 'In accordance with state laws a' d the' Utility's Bond Resolution, GRU is authorized to invest in obhgabons which are uncondi-O", n 'I s tionally guarantood by the 'Jnited States of America or it; og'oncios or instrumentalities, repurchaso agreements obhgations cunconditionally Duaranteed by the USA or it agencies, corporate indebtedness, direct and general obhgations of any stato of .m ^5 ys (the United States of America (provided such obEgations are rated tyi a nationally recognized bond rating agency in oither of , its two highest rating categories), pubhc housing bonds, and certain cortihcates (I deposit. Investments in corporate indebtedness ~ W imust be rated in the highest rating category of a nahonally recognized rahng agency and in one of the two highest rating categories. y/, ? of'at least ono other nationa!!y recognized rating agency: o ..j' .:$!~ ,1 M linvestments are categorized in the table below in'accordance with'Govemmental Accounting Standards Board Statement; ( No 3, Category 1 includes investments that are insured or registered of held by the Utihty or its agent in GRU's name Category. J J2 includes investments that are uninsured and unregistered, with securities held by the counterparty, or by its trust department 7or.. agent but;not in GRU's nama_- .s + 7 m Carrying 4 Market '~ s x LSeptember 30J 1990; Value Value - Category' h, f s O < IV.S)Goverriment SecuritiesI, ,,i.' '85,716.748 =$ 86,912,358 ' - 'l~

27 R f i, J U.Sc Governnient Bonds L 44,266,221 43,517,074

.1 - ,, o 7 [ Corporate Commercial Paper.(, ', c. p.- 80,981,668' 80,981,668, 1 11,371,507' 11;371,507. 2 y, - l Repurchase Agreements ' ' n w j y -p t$ 222.336.144 222,782,607.', f -lTotalk i .g... s n,..,.,,,,, 4 mm 9 m ~ y J p)- '\\- .4 s r. v . - ? r i

$.. 30.1989fb'-

{

• Septemboi....

s. Carrying ' - Market. Valoo Value Category s 'l ,,,.[7 p 79,842,782 $, 78,639l450 '1 10 S? Govemment Securities m ,c " MU.S. Government Bonds, ,48,561,845 ' '47,810,269. .1 o. .'1 !Corporato Commercial Paper. 93,476,862 93,476.862-1; y (, ARepurchase Agreement * ' 16,124,371 116,124,371

2 y

m,- 7=, g r1- -g s $ ~ 238,005.860 5 '236,050.952 1

Total 4 ;, s, 7

.m... m w

. q {.5 jj

') s g .. +. a, Q:1 [',y 3 4 6 y w .'4 Ls f. 6 t -[

1. j b

, l

w w:pM%w. nw a uqaw3 9 s . xm - u - x.,J, ; a

ww

v, t wn m a+%

W iW%~gsyn &+34 aw p_ ~:(&w,,;'y%,p;;p% v.;g &;tv,,~, t nah a a gx m, ~ c;, 1 - <w, m mw, m; g a;. mc m. +, mywap 3 y,; m L s g g;e \\ ws, M u \\ v,.,m,my 9> ' &y ;W;Not08jo'Fina,nc,y u Q;, ' % ) V %p W bbypw ,7'" _ g e y, n, w p w - a.. m iatStatem.ent.spoontinued; #' 1,, r gW6.y e M M, w. d,'w u-e aum e e-tene A we Jx <[a, ' N _b h h U,h NR t ln ytw,M m[a 2k, 4 ' i , '*c $W. 0 k.. 1V,.9,C Ol. MI. M~M.,M % i, N. " 'o J M..W 4,s w w %.(.rk

8. Y,Rb M. s ' ' i.

,O ' i... ~i x v. p$ % w m. ,;: n cy< 4 y y s -r r, \\ * ,w ,i.:.-9 ;tt@; W 1 N i W_ ' ;< t

h '

s* ~ < e + 1 3 ^ +, .~ . M - f,= p',y, aW g d k Q' @%+ W' .Pt

19)...

n i L p, 1 to-. k %~ 'g .- f - a f l; Q f % ) N f W;&: n,W.:::l;.&p,% L GW " 'J < % % m 1:, ; ARM J. " i + h" { )' q., m s 4 h [ r .m; W W. g;dW W %%R %, c; ; &,- ; V P L + mm .m . f e. t

• 3 e

4.. '

,4 i ngpygg mum % L m_ -

• a.

MS4/interfund Direct Utility Blhings': 9' A; < 1p,., 4y s -;* r N , f,., + ' A oe x h w,> 4 f.. x,t- . +. mx,w-.,-, n.e.::,c .,r.- ra v-:- 4 s 4 .w q-. 4 >y 1 ~ p ;., , a v - y +r

n, i r a C.

-ps &-1 y4 .t_ Q hincluded in revenues are the fohowing Jnterfund dw'ect. billings for utdy servicesh ,f'<1 ' ~ ~. ~ q u. en m.up_s ,m. a , csp, n. -y c.... - p , g.4 A,

y s;

a. p*

. a: x j-s. + m, '. - I _ ?'- +, 7. n 4 _w .f -'r(_, -y ~ z u p w',,. tI T ,_,',.,. < 'g. v ;, u. - - s' w', I# k , m, _ n,.

. n

.v. w ' + w.. + c n. %m-.4.., q: n

1. d ;,,

3 -g*. + 1 . x. v s -l.' t.4, v6 ;# ,J in ) 1 p,., e .' w s. 'w s.

...,1 p - j

.F N g 3 -. pgp 1_, gg. y . ;4 n nn _ 3W M1 y '. j? ( 41990h ' 1989 3 ,.'y-s [k$m[pg,, \\,,,w,;fy[ N_', m ~ [- ' }, 7 '.i i 4 i p- -s q. x .,4y1 o p p ' g RevenuecV x., c4m+6(7 Sales pl electrWlM!;d /,a. < o,iQ ^ SSales of gash r,.4. d.u J. . <M e c. MO,1,p, c,,.Y ($ 91,813,242,..' ?$D1,814A28 i W , o J g,. Ol, ? cy, + v 7 .,s y i H738f i

i 1% $.G

+ [M@$ MSales of water k,dib d t.2 v i. AmM 1, h,*... a - a h + 106,150, ' r 'A '126 650, '. lQ Wastewater'seivice-charg6sWQb6MyE aQ.', Qi.M,,i ~ B - " 5.540 > ' " 2,693 jn )a gA,, oq/ p-t vmf. ~ s 4 ,e. 4 10 ,q f, 4 _j A. .A M,. p ; A i ' n ~ 2fM Total revenues 3" b'aL n A.t.w. W. M i, m. h .....,,.a J.. a;,,, !$2 c1,925;670. t $1',943,772E' h d*' ? J v ( ,.,4 Bf ,+ Ht r a m ~ 1 J ct, g now - .v, - - r r s

r1 u

n,., y t o, v: 1 c = ,3 s s ~.,,o ~ _a o,m s s r, ,4 a,. r %. y ~ e .~m z. = w& a.ww po 6 - p n ( -b

• ,;is

>>a+c c 1 4 3 3; y .o 9 N .. $1: ef Y - r >5' Jid;h'4y Jinc'luded_ in expe,nses are the folicwing interfund direct bibings. fer utiliti servicesi. - U .g .I '~a E ? : : t c -J X" '^ M'. y 3.w a% , m x. n, + __ y ,3 9 1 i = m m m,f,,; Q,, M, r, ' N %,.a 1 W J ;..V V * ' > xv - yy -., -y s v .w p. y % d.,?..,1 4 s t,% 3 '1990! t1989 W +4 m t p %egw y.1gya m ; y,,..gm. 9- . :A a, ~ v n ,. n .c mp ,, P.., sd m ~ Mm e Expenses w M_,1' - 28C C, Elec. tric'fu'nda, C.O.,%c u. i< ln. -l: en M. i J n, j. .,, t n$ c278,807 ! " i. ~ i $ i. (288,503 ) 4 - s ,? ~ s m.f. a pC., J..- ; <...,.. G '., 612,372; 'f M,s WQ&GasfundMW@: o R., N@$@ Water fund @ ,7,7..: M W g.w.)., M..,A. 819,294,, _816,8807 gy, PlWWasteWateifund v.r.m.... o /..-:. M. b,, u.y J "815,197 ~ m 'B38,389l h M Y d m.%....m. 4-4 ,~ s r. w, n,r,mn. m. m -;,x . qu t .. w,^ .b g> m~ .f i-

1. . mM.. W,,.: -..

a. -

N Q Total expenses d /s : M.. $. m. % l 4,..... /,A, M.3,. L$,P 1,925.670 4. s, s s $ -1.943.772-N 'p u, atm ~1.3w~

, nx -

c. 4 :.

s c ~ ~, m s w-p . c i 3. A-

r J

b J-g y g -1 r -e, 4 'h {, fy;_ u ' t 4 -) k g l 4.y.".m 7,f.( 1 < } z _5, 5, s.;; e y 4 -d 4 ,r1 y r 3 v sx..: - + r e c.p n . g 3'. ' i s, ,a-' u 4 3, s = ; t I ,M4 q"- e, ( t t v ,A .:s :_ r"c- <y (44 i tp { J gt _q,

4 { {gW* ;O d "

- g,4 ' 7 ], g t ',,t _,e - ; \\p g ~ 9 Q ~5-_ , ;t ' - sso -. 5 A ,_3r _ Y h - ~ f"' t y 6 f, - ~ - - 8 m i %.' rV y y 1 9 q+_ a .sf:~ ) %W Aju I,

t y

.y-r e :.. - ...w ,$ p y x g 4-l 4Y m,, L QW ~ ii (..L s _ = s s s_ ,+p 7 s 's gJf y. w > a.

[

c> i4y.. .~. g e s S,, 9-r s

4., q e I k.[ M==(

3' [ j. . N [j' /.- 8 [* Il r %x)5,.nm. s n, oe r .i 2 + ,:g -N. 5..-Ys f'#' L \\ ; ( + 1 -',b d: y h 4 6

• _-.('

__;p t dN)._F it-< r 1, rfQ a _f t } 4,g e(, 31 .c w, c tt.p-[? ^^J -\\'y

• lK,i, 2

3 u ..u _. w-3 ~ f. + r h, ; q,1 3 -} J.c. cv fd p. ,? Y \\ \\ ~ W(~ ~p'"* 6, 4 i, p t A.13 -n ;., ,'g" 1 e y .y.

• _.q-

^ ' + g ip ,) gd i s og 0-u c n m -.n. .., I ' f { [y9' ,.6 4 's<g' t'.g.Mrik' 4 $; L-j y, ,-l %g4G JL M i r L)V ^, c. x s. h )h"~1 j' r' s % b \\' W*! ; 1 f4,+ Q y ' $ Lfis _st.! ~y s.'s' _L..s ,,y . n. ie :w w- , h,l s ' - aY.. ~' = s {' .f,^. h r g% -(' e-J>,^ a,'.3 ., L I g p d, f y e gw W dy.h y L [4, -.~.'fI.'s--Tf

• w.

,, Limb ,l + A +r +

s

., ry g,; ^"' F 6..' ? - s ',...g-b 1 - [ [ '.,- O a ,..-.J.'.kJ-.',y j 4 4: ( '.j - 1 1" 4 ) 5 -

t^

Tn. 7 Gj f iA t : s a s s s, y + .m y j- .( _a_ f - ' - yy. .r. 3 y,, '_f g. l - t .m .f'1 4 - \\; 1 Ja. 3 3 j' s34 y. eg *,... n ,.g., Q4--; 31 t -l % '. ftO, ~ -)'. s.-4w 4 sg', g* A 1 g ,pa r g. 1 r, :.y ~ y _ E gf r v t v,w.. u,

• ,...c m

o e n u r, h,o. ", e[. .)b'l g, g k. d, ' ': j, ( y.i u w v-. + +, 1 4pg z-9 N 1 L ibr,, & ~

p. h k v >

• N

. p. ~f' h .g n j- } aw: e s \\ +) :.: }\\ ,.3g;" i ) .M' g N Q 3 '~ p k I$ h p - ) (.j:s W's Y j' U -l e n ' 6,l A T s_ w _ i o-is ', &~ )

• ~
• 1 vi s

s

<,,,.. Y (,j[ 2 . - c.% i , i s M1 No,te's",,to Financial Statemehts, contiriueds-v u (_. yg,- ,p g s ., 7 m i p " Ny - r --t_ fi q .5 . ~. E. Jointly Owned Electric Plant:' 4 m r g,_1 1 ,cq-GRU owned ienources for supplying electric power and oneigy'requiroments include its 14079% undivided ownership interest " n the Crystal River Unit 3 (CR3) nuclear power plant operatt<l by Florida Power Corporation. CR3 oporating and maintenance. i 2i p c costs, which represent GRU's part of expenses attributable to operation of CR3, are recorded in accordance with the iristruc-4;- " tions as set forth in the Uniform System of Accounts Payments are made to Florida Power Corporation in accordance with - the CR3 participation agreement. -, ~ ~ v s f , l. +3

6. Contributions in Aid of Construction:

Contributions in aid of const'ruction are as follows: ' 'i. s 's .s 1990 '1989 . Contributions in aid of constructions, 1" -Utihty plant,' properly l and equipment contributed- ' ) by municipahty L. ; a. ~,.. ; ;, J,,, _ 3,982,274 L$- 3,982,274' . Federal and stato giants'in aid _of construction:,. 17,140,845 13.023,841 Contnbutions from customers and' developers: Plant contributed by developers,,..,, .34,070,92S 32.241,685 ,, s Connection charges. ~ . v.. 34,423.067 32.205.314 ?29 '89,623,111' 81,453.114 e , Accumulated amortization.,, (19.871.08_1) (18.010.280)- ~ [C'ontributions in aid of construction.... m,751,130 63.433.834 - 69 1, mo "g e 8 1 'g 4 g g 4 .i2-. fe l s s . w 4 9 ) 'F I ,) a ~[ I ! 1 4 k 'l f m._ _____t.2______________________._____.______._____.______._________._______

a.- m g 3 . + 5(A s. -m a. t ' N tes to FinancialStatements, continued x,-- it i 8 n e# -p jt [' w > 7. Metainsd Earnings't - l Retained earnibgs reserved for debt service anct unappropriated are as fo!!ows. t 3.. 1990 1989 'c . Reserved for debt ser sece,,,,, 81,176.6 t 1 - $ - - 75,091,045 ' y ; unappropriated.o,, ,,c, 91.730,315 94,606.881 w ~ 'S 172,906,926 $ 169,697,926 - Total retained carn /ngs, s,,, k: . Retained eamings balances at September 30, included in debt service fund accounts, are as follows: 7 .1990 1989-Sinking fund account, 10,668,528 -5~ 9,393,775 Reserve account'+,,, l1 i. 37,450,795) > ' 37,958,113, s E. ? Debt service account, *, 17,195.210 20,818,049 , s,, ? 9,590,423 15,025,720' C Subordinated t3ond payment account :..... - 520,130 [30 p" Subordinated indebtedness fund account,,,,,,, ,595,271

Bond emortization account s,,

'i. 23,034,076 - ' 6,844,493 117,310 J 14,747 Commercial paper note payment account '., 4~ ' i, - 98,549,050 90,677;590 j ' Less: Amounts appropriated for current (15,586,545) interest and principal, payable: (17,372,439). $ ; 81,176,611 . $ ' ' 75.091.045 o

8. Retirement Plans:

4 iThe City sponsors and administers one retiement plan and one deferred compensaten plan that includes GRU and other ! N iCity employees, The Employees ' Pension Plan (Employees Pian), a defined beneht. primary contributory pension plan, covers all employees Lof GRU; except certain personnel who elect to partteipate only'in the Deferred Compensation Plan ' [The City accounts for,-and funds the costs of[the Employees Plan as they accrue. SUch costs are based on contribution rates deterrrened by the most recent actuarialvaluation. The total contributions by GRU, including amortization of prior service costs, , f lor the years ended September 30/1990 and 1989, was $1,046,000 and $1,047,000, respectively. e i..; y ,ln the opinion of the City of Gainesville, GRU has no obhgation for r:iny unfunded past service or other cost of the pension' ' fund irl excess of the required annual contributions. s Certain employees dre elig;ble to participate in a defined contribubon deferred compensat on clan managed by the Intemational City Management Association as fiscal agent for the City. Under this plan, the City contr butes 6% of an employee's annual

salary and employees may contribute either a cpecified percentage or dollar amount. Total deferred compensation cost for

'.GRU for the years ended September 30,1990'and 1989 was $296,417 and $180,700, respectively. 4 'f x. 4

p .s,. + '( y, b ~ si j_, f A {tD 84-3 4 'y ';

• ).

y-m ? Notes to Financial Statomonts, continued / ' w 4 % i ) s. 9 i T i 1 n ,w - 9. Transfers to General Fund: (GRU makes trarisfors to'the City's general government based on a formula that ties the transfer directly to tho' profitabdity - of the system:The transfer to the general fund may be made only to the extent such morvos are not necessary to pay' debt g : ^ service on the Outstanding Bonds and subordinated debt or to make other necessary transfers under the Resolution. The fund transfer to the general fund for the years ended September 30s 1990 and 1989 was $15,154,322 and $13,029,871,. m respectively,;. +, \\ t 3 v 6

10. Deferred Debits:

. e In$luded in deferre'd' debits is th'e unamortized balance of $23,760,000 romaining of the original payment of $27,375.000, t ' made to Island Creek Coal Sales Company on February 10,1988, in full settlement in connection with the city's cancellation 1 Jof a contract for supply of coal to'Deerhaven 11 generating plantc The settlement payment, funded with Series B Notes, is being recovered through future utility fuel adjuctment revenue through the year,2003. p.. The remaining balance in deferred debits is comprised of bond issuance costs and miscellaneous items which are being l Je = amortized over periods from 5 to 30 years? i-, .e 4 4 1 .t I, b's -'cI t- - 31 ~ ~ _,k ; 'g + s s w 3. s'5 i \\ s Y A-l ~. tf, ? - i 3 .? -b_. , x fr-e .+ .i g 1 ' g-s 8 j c m; -- 6 k '.N 1 1 l 4 5 i. s' , 's. } \\ :- x

y :n r3w.- 7,,, m r a;: , ^; X f -( s '

1. s 4

..st 4 s h,>, N A~ [ g' 4 > i ((r- ~ ' N*' *W *' i2j'; j % % ' 4, i 'L ~ '. s,4,, 4 _ =, ( p.... aj ,f. c. s -

a. <, g ~

, ; r,, ~ 1; _ ; W, ' ' 3 . c .w

_.ic

,L x ,+ r; -g-M.%yRe, port (f Independent Accountants,on Supplemental Data ? ' 4, x m '.- r - yn pn .a . 4 + LN M s -N.{ x 7 ;_ h{'+ d5 v s b.m 1 ,

• u w

x

3. -,,

~- T c-6 3- -.. =... -.... - a h-mw ~ y@pei1Th5 Honorable Mayor and Members? G~ v + ? ilof the City Commissions - J ~f -

1. 7 City M Gafnesvillei

~ M WB 'Gainesvi% Rorida 3260F oa i 4 a gy n + m c 7,w s m 1 JOui audits are'y'ade for the purpose of forming an opinion on the basic financial statements taken as a whola x - 4 - ; a - m C E > ' (We have previously audited the financial statements for 1988,-1987 and 1986-none of which are presented-i;- W ' rhereinM and we expressed unqualiiied opinions on those financia! statements.) The accompanying schedules - u 5' 'of combined net revenues in accordance with bond resolutions for the years ended September 30,1990,1989,,. ft988,1987 ar'd 1986, net revenues in accordance with bond resolutions - electric utihty fund, gas utility fund,; yfy water utikty fund, and wastevaler blity fund for the years ended September 30,1990 and 1989, comtining balance U sheet at September 30,1990, combining statement of revenue and expense and retau x! earnings for the year', J f.e'nded September"30,1900l and schedules of t;tihty plant proporties and accumulated depreciation and amori %tization for'the year onded September 30,1990, are presented for purposes of additional analysis and are not 4 f f a required part of the basic financial statements Such information has been subjected to the audit ng procedu.res. W J ar, plied in the auGts of the basic financial statements and, in our opinion. is fairly stated.4n all.rnaterial respects, . s. + W 'iq relation to the basic financial statements taken'as a whola i .p i 69 . 9f - q ~ grk- 'f.. ,+ ~ 4 S-; n. _y r v' s v s w( - m. ^

s

~ t t e Z Y, Coopers & Lybranda T-+ A m, y Jacksonville, Floridah S - O mm yopy ^ c . c 5

V,%

v33 +

p. '; y I 3. a.

i7 .s i i SWDavis,1MonW, x ~.,/ "t Farnsivorth & Company") V 7 Gainesviue, Florida: ' s-ye, 3 ; y w' y 4 pg. u ~ j.f.... _ t +,~ ~ cbt ~p 4 t + yy - u, 3 mm , s a s + ,s. d. [, 4 hp.',, - -. ' m(November 30,19901 .s.- y 4 w [ f1) 'f7A] 7 ;. 6 i

gz c

na, s s s 4. . ;1-s + a y g y + I f 1 4 g, k' l{ {' * : n p. 4 v f...%' i q G y ] i s s r r v' T + ', y l d',

1. h

.7 I ,j[ } 4 'j 'a' r 4 -- .. h e a 't 'b, ? j rg r y .$, I.~r .z , f g

• I a,,

q;" q ;( i ..i ). + ij + 3; yj l s &..s 1, f, i / A j 'I? t ) ' _( 31 y .L I .kl t a;r ,.y m; 4-( t t v; s ! i 0 x- )

y n ww' g. m, epmAv. x % n.y v .u ~ +c-8 ,a m r; wmg Eg e r (Ni'y' s -b. 5-4, '?' ' 'K! v. _b-QiW:; C_;..-,j, c f .M ( i st + ,4 s- .vs e M.g.wo e a- ,+ ~ p. ~ w 8, o,,; ~ .~ $am INESV.!LLE! REGIONAL', UTILITIES 2 ~. .e x a, ^ MGA ,3, ~ . g c. %Sobedules oflC'ostdned Not Revenues in Accon8enco with Bond Resolution / te a -, ,s fh jfof,thef. years ended: September 30,L 1990,1989f1988,)1987 and 1986,.. .[' X 3 w w , w x 4 " n.. 1990 v n-g p: A,. a-y VdhwPlovenues:(, N i 4 e '~ F iflectre funds,- / ..,$ E110.024.263 C) ;g[,$140ther electric revenuesJ,' QSales of electric #ts, s,.,i.NJ - o,, ~ m u-. i ~ U s

1.-

, 527,726) } ( 4 y .i, '). r o, Interest income ;,., A, Jo ,;o 4 B15.098 T m,. - i, a eg =,1, -u : - .n m s p L, Total electric fMd }evenues 4 J' , e,, 114.311,635 j i., ,i Gas funds i

9 i

?= - c g-r

V LGas safet b...

X.

a. e

. s.-

8.632,123 -

J i Mn FOther Das revenues 7. L ,f. ' (1.611,307)( g,j.1 y ,dW., / Interest inc.o.me,, 4 m. J p.j ;, l ,n,,a. ,3

1,324.210

? .3, 4~ , 1 Total gas fund rewnow ,4 .,h_ ,B,345,026' J n ,m 1, _ V (P ( Water fur't 4 S' J_

y. u k >, % Sales of_ water'c 7,989,116 "

1 ,y. m. Otner water revenues.;.,, ,1,471,.1671 q;, 520,693,/, f f,

lnterest income w, r,s

~,,i # m z.. - --. e - .. m. m t.- l Total water fund revenues - m.u - . ' 0,988,978 ~ Y Ne+ tater fund l Y ~ - W . t U. (Wastewater bdjingsJ ?,.,. 10.300.888. r 31 d 'Other wastewater revenues,o

pe

$88.674 ,, s Intsrest income 4, r ~ _' " ' M251 - ^ Y,, 3 =, - s u.. :.. k&. 7 2 M iTotal wastewater fund revenues - m ~ 2231.813 ' 1 M jp is -1,, ',144.877.452 ' y p:470ta/ revenues H. 6. % ;g "'%J i.. # .. _ A.y ^ [ Operation and maintenance expenses: L ' Oc: Electnc fund. % -.' 4 2D . W f Fuelexpense h} Operaron and mainterence M. oQ<, i f .o , 39.049,188 - .j. ,' 16.336.4BS 6: 1 + ....2, .,c a "C342 7 Administrative and goneral, ',.; '111;339.379 aTo'ta' t electna fun' d hpen. se. s A. i r - 66.725.052

i.

,0 .m. o,. a .i,,. ,cw3,3 - m r. ,x .,m Y ' S YGas fundwm [, ~,, 1 u 4 N,,, Q;[m Fuelexpenses ,3 ' 6.433.828 ,,cm.. ,,. 0 t Operabon and maintenance l .,i*

b,, - q

s.

.555,631- % f, <AdministratWe ind general.,, .n,.

6 i 1.305,900 m

s. ^ Q,',., blata' gas f'und expensesf, 7,295.350 19 %' H Water. fundi ^ d ' 156.677 ~ l; JOperahon and maintenance J 4 4

v. c.,.-

.4 M9,<&,e, LAdmitystrative and gene. ral; o, 3 '1.847,371 c, n,, + +,,,. -u ,yyy ' fp

• gTotal water fund expenses j.

S,004.048 1 s i,- Q;~ s :nWastewater fundi t. ? r x %m t-0 .O, I m ; Operahon and maintenance ;., 4.035.949 ' 2.407f 54 "A 6,dministratwe and general;. ' ~. m- ,m< 4 6,s n<

w,

-as . s.- s. Total mastewater fund expenses,; '6.443,603 a,m j ,,,,a. ,1 -n < s $, w?To' tat' ope.raten and ma, intenatice ekpen,ses l , r, (85468,062) ,:\\ y y l Net revenues n accordance wittt bond re' olutionn s 4 ~ x @W, "fk DGaa W,si K.. ' 47,586,683 ~, fy ,, ; Electnc W. t, NJ,,, ,e .1,049.667s 81 O ,3<. ,.m M MWateg T. N,' ; J ,.~ %]M, 4,904.930 ' .i astewater ;, ' n.. 5.768 210 L W i ~. s T. 4 W l Net revenues tWore tnferest income from siniong fund.. .e 1 .a. 50,400,300s 4 i ' jnterest income from ipnking fund., ' ' 870 603 ; .. ~ g v. ;,,.., . j{ R l Totalnet revenues kt accordance wth bond resolutica : e a-. 1 .. +, i. .5 '60.270.998 pl i_ ,p r., i,.r. 1 ( Aggrege bond debt serdce,,. J., u. -5 101364.700 i l l,, ! Aggregate bond debt service cowrage taho., 3 07 "4'h 4 '~ ' Total debt s"erWco n L. > : 4 g .e e. $ i26 556.817 [ \\ 1, iil. h 2 27 ,70taldebt service coverage ratio, :, a= J c, (See note cripage 39? p 5

~,

k. a W

5pg, 9

7.jy m 7+

ci 4

a 'g' .,H' g d

& Tfv. 'L n, g -m m i_: %p

• g.

[ ,,{ j '-' i ~ I g / ..( l 1 {[ s-uf r . ~ ^ 4G n,.) f e n- \\/ s ' ['l g J (); "," 1-; m f, s y, /19391 Ec-l 19481 1987 ' 1986 ~ li' ' ' $ M' 92,340,$61 - - $. 67.098.001 > $ = 86,410,497 '

T f J $ f 99.922.883

' ' y 1,647,656 ; 3.275,765 4,370.922 2,876,553-( 4,995.756: 4,113.276' 3.403.162/ 3 932,750 ? 106566 P95 '. 09,729601 ~ 94 881.075: ?93,219.800 P. n s 'y

f

=,. .y l c a1e g h,,. O h/i 7.492.051 [6,738,309.s 6373,685 l 6,268,636 q e s n,

1,589.085 321,927-54A593 411.099 I#

1.153.248 >947B90 499.273 461.677 r b. 1a234.384 4 8,008.126 7 418,551 7,141,362 ' 4: 1 4 h.': s i .g L e: 4 [ 9.489,697 -. 8.091A95 7.771.522 7461.805 J (9:744)" ?(1.140.327)- '(51,176) (368,856)

i i f 1.900.626.

1.51E602 606693 694.118 ' b (11,380,579 . R46&170 - - 8,4',,039 7.687,067 ' ku "12&181,258' i . ild205.897. i10.716666 10&O48.229 L. -.- p+

1-

! <Y a. L j ,,e.. ' 36.208.675 c, W33,719,657 33,741,345 36.028.210 @ '(12,691,332 4 11,767;141 11,957,936 10.349.225 f 35 : j ,j 13 244.443, 13.182,328 '12.148,2987 , 9,732.748 - '1 62.144.450.. , -58.669,026. 57,847.570 66,110.103. ] h,1 g I - } f ' ',' k ... = =5, +=

• s,n

,m'* g m - e-3 ' ee. eqpe,

Gioch, r

E

2,755,419 2,720,775'.

2,634.446 2.360.623. f" 4, d

• 2.047.026 :

- 1.949.109 ~ ' 1,507.224-i "1,571,940 -- q

, e 4,669,884

'4:141,670 3.932.563:1 - 4.802.445 - ~ ~ !{ ) + + t S fks) s,3,256.397 ' 3,193,659 '3.124,386 2.779,057 2.193.204 2.111.412. M 1.076,408 {(,D 4.755.465 d2,841.943 : . 6.097,340, 5.386.863-5.235.798 ~ (73,044.235). -(68.725.773) - (67.225,047) > (64,798.211) r -m + 44,421,845 l . 41,000,575. 37,033.496 ' 37;100,617 i

• t N4

{- .4 cI431,939 J 3.338,24F 3,276,881 ~ 3108.7N -6.283.239 3,081.307J 3.181,241; 2.931,'302 . a7 i 47,480,124' 43.491.618 43,250.018 ?55,137,023 7, - 703,214 -l 552,250 -466,034 ' 347.088 p;' '$. 48.032.374 , 5'..'43.957.652 43.597.106 S' n 65.840.237 ' r_ r-1 n-J

-5 r 17.939.700 l

'3:.17.939.790 5 17.939,790. 17,939.790-F r-- -e J 3:11: 2 68 2 45 ' 2 43 b 5 ' ' d439.2361 = ~m .(

2.281 n

t 1 I 1 'g. es b M ---E

w 7 w m, y, -mm, y , -4 a < N AINESVILLE' REGIONAL UTILITIES - G m. n g Schedules e4 Not Revenues in Accordance'with Bond Resoluthm 01 Wootric UtINty Fund foijhe years en'ded September 30,1990 and 1989 h at g 5 4 i h e 5{ " F g 1990 1989: 4.,. s s . Revenue: 1 i 4 .' Sales of electacity:; ,,n[ ~ $ = 42,163l108 $, 38,469,330'

• 4 Residential sales.

,a.. ..o,. ^ ~ 39,688,277-41,389,103 General service and large power,, Fuel e@ustment i..,,.. ',, = 1.392,268 /t ' 336,799'- , 1, .a ' 2,010,703 51,632,077 t Street and traffc hghting, c.". i V 1 Utility surchstge...;,,,.,,, 4 2,359.681 2.110,442 n Sales for resale 4,526,715 3,833.513 ' interchange sales ;.,,,,,,,,,, -16,173,685 13.852,445- ) Total sales. of. electricity l 110.024,263' '99,922,883 = ., s. , 4, LOther revenue:' .630,000' (1,762,353) l ,4 m _ Transfers trorn (to) rate stabilization.,,....,...... ,1l>., 957,433. 781,208 Service charges.. .4,. s -131,626 129,878 e

• . Pole rentals +,.,,,...,...,..

.q. .f.., ,, /... 145,568 106,570 Miscellaneous. .g (527,726)1 1,647.656 5 ! otal other revenuo. A,,,.,, u.. 7., .....,y. l , intelest income,. m. 4.815.098. '4.995,756- ,7 s 114.311,635 - 106,566,295f Total rewnue,.,4 c...,, ,5 A g j l P 36, Operation and 'maintenancs expense: ,,10peration and, maintenance:- a' Fuel expense: 29,697,080' 27,994,444 s Retail and purchased pcmer <.. '~_N e Interchange...... ~ 9,352,108 8,214,231 ,,,.+,, Total fuel expense i,, ,1.,,, 39,049,188 36.208,675 9 + m Power production,,.,,.. c. ~11.048,200, ' 8,'995,600 - ..u, 576,580 . 559,906' ' .. ' Transmission '.,... J. .. A..,,,,,... 4.711,705- -3,'135.826' f l Distribution..g..,,.....,,,,,.,.. .,,.A 55,385.673 < 48.900,007 . Total operation and maintenance t. n, n j ' 1 Administratrve and generalt 1,979,558 E N 1.454.436 y : ? Custorner accounts q. 11,790.007 9.350,822 " Administrative and general,'.. 1+'l Total administIative and general - -11.339.380 13.244,443 .,.t,, ,. /,. .f -m. Total oper,ation und' maintenance expense ,s ; 66,725,053 62,144.450-a F ' Not revenue in accordance with bond resolution: 38,783,631 s i Retail '.,, ,,c. '/ .40,765,005 . m ^ + interchange,,,,..,,... 6,821'577 ' 5.638,214. 'o Not revenue before interest income : from sinking fund.,,

47,586,582 44,421,845-

. Interest income from sinking fund., 764,838 617,781 Tbtal net revenue in accordance with bond resolution, 48,351,420 45,039,626 ~_.

See note on page 39.

$[

i +

J j.. e y.,. - -.. ,2 ' N /G AINESVILLE2 REGIONAL UTIUTIES W [M ogMt' Revenues IN Accordanc'e with Bond Resokstion - i ~ N {Ges.UtIBty Fund r s. s . L for the year ended September;30,1990 ~ (.;.. 1: a-n. ,,yn. -e if 'iRevenue:: ' a " ' Sales of gas:-. s 5 3.246,023 ". e Residential :...(. . i.......... 4e .interruptible/ commercial... s . e,, 5.019,216 4 ,Other - ' onergy conservation r, 366.884 - + 4 Total sales of gas ;...'. ' 8,632.123 > Other revenue:- J,oTransfers to rats stabilization. (1,740,325) .-,t. ' ~ " Not income - jobbing '....,,. 71,356- .. s. 57.662 2+ = Service chargos...,. 4, .r.. .. Tot.al other revenue... (1.611.307) s sm. 1-324.210 ~ Interest income.. 8,345,026

70tal temnue.....,,,... ; i.

.,3 . ~.,c... a y 7 -.. c-p, ( Oport.tlon and maintenance expense: - t 6 -Operation and rpaintenancet 5.433,828 Fuel expense ,a. a , 3 Operation and r6aintenance,.. - 555.631 N 37 - ,~

u.

5,989.459 } Total operatiori and maintenance ,i.. s ' Administrative and general: a 361,34'S - Customer accounts.... a..'..., 'M - ?dministrative and general. s. 944.55$ o..., ,r. 1,305,900 ^ 'lTotal'ad.ministrative and^ general.-, r.. c-y 3' 4 4 + h ' 4 g .e: 7.295.'359 - , s, Tota) operation snd maintehance expense. i g ' Y t M w'u... i. g V 1Not' revenue before interest income - 7 1.049,667

from sinking fund.i..

4,. finierestT;ncome frori) sinking fund.'.,. .L g s 4 m ' L Total het revenue in'accordance with bond resoiution.. a, 5; 1.049.667. is t v. 4 CSse' note.on page 39.1

i.

.14

• f 4

1 .p 3 r e i y P 'Y l, .'p e ..d 9 b p ^' h y g m __._J.m

mm m f:h?. --M ~ % ((, ,b.5 . 4, ; 8 4 ,,'p

i. ?

3

1. 1 g

g a .p 4 m-m - r- ~ ,n, MNAINESVILi.E REG!bNAL"UTIOTIESA - W [ t ~ ~ x. + ~ e ,y;w + W tchedules of. Net Movenues in Accordance with Bond Resoluthm W Water Ututty Fund e y s ... ~ g ifortys yearn; ended'Sbptember 30,)990 and 1989l l 9' y.' ,p + t . 4 c ,,y q- !- ..s <^o 4 1 ) qp ' s 4:. 399o; '49g9' n g '. ~ R L ' g < Revenu.-eW 3 i t-g ' Sales of water: ' T LGeneral customers,,,.,,, n,, 5,969,502-' 'S 5,588.025 funiversity of Florida J,,,.,.s..,,, 584,760' A" tw. Fire pro'tection L,..,.,,,,,,,,.,,,,

c., c.

768,931 ^ 562,995. 743,383" 7 ' nGenerating stationsM J.- ". a ;., f 89,926 ' .- 77,094 g

Utility, surcharge)

'575.999. $20,554 l

s;,

c,,,

• 6
• iTotal' sales of water $.,,,.

,,:n.,. ,, l. -7,989,118 7.492.05h ,s. y (Kdf (Other revenu'e:M....,. I 4 ' r Transfers from rate stabilization,,, . =426,959 , 550,000. s

'Connectioricharges,,;, J J,

1,002,245 1,021,31?; '41,963_ 17.768- .. Misc.ellaneou,s 1., '... a, w' c c iTotal other tevenue J '.., .,a..;,m, 6 1,471,167 f L589.0855 .g

O h,J

?.. l Interest incomei, i <,, 528,69,3 , 1,153,248 ' v y y, g; y 4 g,t Total revenue r. W ~ ..S. .;,,1 d., 9,988,978 10,234,384 ,.,i... 4 e 3 m, h% hOperation'and malNtonance expense:. @ %; COperation'and maintenance; i s ' i ~' W 38 ' t Source ^ot. supply @.4, (/,3 a ;,.. 1 .1,527 ! 6,096 4 L; m _. A j Pumping...,,. a,, 44.,,,, 847,636f '879,771) 1,392,304 1,280,941 1, iWL > Water treatment v,. ,,.o, naC1. - JTransmission and distributiori.s?, ' 915.210 .588.611; r ~ @: + m :T,To.tal operatiortand maintenance.- -, n.,, . =. ,0.... o..,. 3.156,677~ 2,755,4194 G \\ km J..., hh ' Administrabveland gene /ali.. N CCustomer. accounts j ( 465,419' 1310,980 4 %f 4 ; i Administrative and gerieraly,,.q, 1.381,952 1,736,046-l

j.

,$ Total administrative a'nd geherd! w,, . n.,5 . h,.l.. ~ y' '1,847,371 2.047,026 L k ' ( -a: m a. + 4 N4pl- ..;...s r .,3 q, WW Total ope. ration and mainten,anco expensei 5.004,048 L 4,802,445 ; 3, s w ~. i.y, c ~. M W. i. s & jf' DNetieverrae tiefore intesst incomes a o,984",930- ' 5)31,939' @$. f , j from sinking fund,,,, p.,,,,,, 4 ,,o. 1 ' s.

z..wZ ' ' interest income from s!nking fund ;

s 53.159., 42,938 .i,

3. p -

y&lgapQToial net rc9enve?in accbfdance &th bond resolutio. n... ;$: 5.038.089 5l474,877: ~ x I,h, +o [JL <t1 ^ ~ i s-4 c + c, =s n.. v , -JSee note on/page 39,: 3, .) s 4 { , '~ W, .m i y a '= ~ s s s a s 4.-. .-(- g ~ m -f _((# 05 -o b' ' s.- ? k A-A

c q f /*. a

[I ..,-[,-.a,.4 V '-'p 4 Qiy f f i p a-y

y M%.. a an %y, m ~, g &g f c.r f Ms y f i x o ..e 4 , y ~7 "y ,a L. ' m

+

3. 1 Q NGXINES. VILI E,R.EGIONALlUTIUl. TIES '. ~ + ^ i, c. ~ v, _1 Soleostules'of Not Reivenues tri Accordance with Bond Resolution % Westewater UtlRty Fund 4 s f s amm m

[ ;;for the years ended September 30,I 1990 and 1989 '

&q

• <g, 9

,, n - - ,vi ..y i g' '4 Sg s, u._, '1990-193g ? -d s + ~ s er; ,:- nn v. A e A g s' Revenueb s ^

Wastewatet billingE

o.

O ' l Bithngs i c,,,., i. i G...,.;.,,,

..,..l.... . c. t $ 9,482,492 'S 8,754,640 LUtihty surchargef.. J., .3...,, ' .c,.. 824,396 '735.057. r TotalTwastewater billings'. L. -.,b.. g.. ~ 10,306,888 9,489.697-i;< s _ m Ww' M ' Other revenue: ' t ' OTrarisfers to"thte stabikzation. J.......... >..., l l. ~. (756,479) ' '(1,325,000)- M - J Connection ch'argesh.., W.1,.. H,215.506 ' 1.293.093-q% '. : Miscellaneous,- N,...., d.. <.;.......,.. J....,,... 109.647-22,163 p - J Total other revenue r c [. '... ; <,,.. :........,,.. i.......... 588,674 (9,744); 5 * ?,. n ?cInterest income ;,,.,; c.. ~ J m 1,336,261-4,900.620' 4 .....t.i. .;;..,;...s... !) ' .Totai revenve e... c. 4. t.. r. 1 .a.l.s o. 12,231,813 11.380.579 1 j { o $,[;_*. l_ t.. k g QOperation and maintenance expense;

Operation and maintenance

~ e Y 844,758'- '433.615 - i Collection... w, l. ', e...,,,,,,,,.,,, a...,.

K iTreatment and pumpingh.. c.,,,,.,

i 2,82),782-3,191,191 4 ,...... s. , j. Total oberation'and maintenance ^,... < j. 4,035=949 3.255.3972 u., .e, 7 . 39_ .~, . + - l Administrative and generalf M , sCustomer accounts 4.. 4....,. 433,562 262,259: 4 L Admin.istrative and general,...,, 1,974,092 2.579,684. @a. = n' t Total' administrative and, general 7... ; 2,407,654"

2,841,943-

.,c...,,. c u ~ m 4 ^ [Tbtal operationJarl maintenance expense.... 6.443,603 6.097.3_40 : d 1 _p, 4 e m gp ,,u k Mi N2 revenue bef5te"intere$t income? t ^ 1 TC l w? trom sinking fundfi.... *,,,,,....'....

4..,,,,

.,'. c,, l t 5.788,210 ' "5,283,239 x 7m,._ y -^ @,e l Interest income from sinking fund.,, t., N. i52,611 142,495 ~,< + v i: %)al net rewnue in hocordance with bond resolution. '.,. s... A'$:5,840,821 $ e 5.325,734 p. n

r

...,s v, nw. 4 ocn. ^. U f,f; NOTEF"Not revenues'in accordance with bond resolution? differs from "*t income /(loss)" which is determined in g 't; .accordance with generally accepted accounting principles. Following are the more pgnificant differencesi 3 ^, d 4 N

g. Interest income does not include interest earried on construction funds and on certain deb' service accounts 4

pa, X lwh.ich can only(bo used for certain' restricted purposes. ~ t '~ .m a y37,4 J+ = Operation and maintenance expenses do not include depreciatlon ' amortization, or interest expense. q Q:[ v 4 Other water and ' wastewater revenuesinclude fees for connection, installation, fr'ont footage, and : i

1. =

' backflow preventionc e Transfers th'the gen $ral ibnd are not included '- I I ~ s I,' Othe(fovenues include transfers (to) from the rate stabilization fund? 3 T< . 4 Extraordinary items are notiricluded. 5 +- g' 4 if' k Mt i '4' 4 { y b a 4 a a I.

W;@.W%gr, XT, w yr, ;m x'w. = c + w IN,E h, v g-lE REGiONNkUYkbihESbh I y ( u, n( d y ? A-ss vgi st (g# e 4 *n p ~

lA

%-[lc chhhile of Combining Balance Sheet ' * ~ S J . ~.. v.

b 'Septeinbdri30,1990L l

' - w ? y ;, .-, ~ + w ,d' h '[;} > ?-.};s { y.f y e stoy R _N 3 _ ".,= 4 .V f LASSETS: m; y .. N! ~, 9- . ) " Combined ajp 3 y f p) f R',' t -Gas' - Water - Wastewater ^ Electric ?: a 4 W T Utility planti f ' M ' i .,$ 19,052.331c $ :70.297,315 -,$ 92,788,2021' $559,950,769 ' 4' AM QUt$ty plant;in service.. 4 G i.,,o.. $377,812,921 2 i ','Constructionin progress L,,;,;,,. '5.397,152,. 1,432,967 < 3,311,319 ~ 11,302.815 21,444,253:, y-. 383,210,073 > 20,485198 73.608,634 '104,091_,017-581,395,022 ' , y y. s A. ~ 4 ~ 3 g. y OI Less N: cumulated dep'reciatiorV, -(27,702.654) ' (168,191,67'1)k a l V ^. i and amortization 2. ,1. ,,, y /.. '. = (112.333.923) '(6,980.534) < (21;174.560) s a ~, Vn' Wei blihty plant <c,. c.,,, ( tg --e 27',876,150 13,504,764 152,434,074-76,388,3637 413,203.351 0 / @f f,

= "" ~

l Restrictdd assets:

I ^ f ' Capital facihties 4 4 - ...1,329.2123 WCash and investments... .J.,, i --. a 11,329,212' ? 'Utiht{ deposits % ~ / r 3,070,818-6~ t Cash and investm_entsi, ;h 2,979,399 91,419- =-- v - Debt service fund + 7 ' l k c J t Cash and investments....,,, 74,909.681 2,411,000 . 9,9.81,539 11,245,931 08,549.05i

n4~N ' Rate stabihzabon fund #.--

E< ~ c23,005,740 ) a Cash"and 'lovestment' i... O! h$ (Construction fund -l1. 6.335,175 ,1,752,103' 3,774,828.- 11,143,634: s c T.: 40 % Due from (to) other;fundsi,. i ; y (2;155,819) '(19,960), 11,339,542 12,476,000 f 66,874,270 c fa

1. H Cash and investments t.n.

.N - 41,248,675'.

t,810,153 : 2,650,000 : '337,283, 9

(136,938)

", QUtditylplartt improveme'nt fund g. + J,. - Cash llnvestments and receivades '4,297,556 494,465-666,655 456,778 o 5,915.454 s e:. 4 i i. 1 ^

• . i; x.

^) r ~. :.f. n _ _ '. s ) '., y, . " J70tal restncred assets i, p?' 127.614.567 6,540,080. 25,625.626 - 39.301.555-199.081,828, s .c r

a

,s f e-1 . -i u 1 + p s / Current' assets:'., -: Cash and short tern investments v. 16,901,028-

357,794..

973,540 -4,343,869-22,576,231 m (Dec'ommissioning' reserve.-,s n' g -% " Cash ' nd investmonts;. 965,368l = 1 l 965,3681 ? = a B ' wf G] Water pollution emergency reserve + - 50,000-4 , 50,0001 3 'EW Cash and investments.,,,, x W y [ Accounts receivable,~ net.. n..l. .20,411,274 844,585. 839,207 s .'469,243, 22,564.309' T D.U lInventoriesF .f ~ 1,749 '660.

308,909_

N m iPrepaid oxpenses a......... 21,597 284,903. , s S_-J 7,955.943 "r V Fuel c. c,, J.,,,,, n.,, 17,955,943:, J-- g s , p 0g Ma.terials'and s4pties W.... >. 14.899,771 221,336 , 5,121.107 r s 2 j, '[ ,d _V r. I g,1,864,496 4.813.772 '59.541,867' ' y e !q'i NTotal current ' assets E... u... s 151.154,981 1,708.618-4 r - ' s d L. $+ g Deferred. debits 9, '... (,.y, " 33,974,034 837,286: i,014,194'. 1,371,100-37,196.674,.,, f ^ ."c. 3., ", C', l ja, y.- 3 n m,m 3 + mu-M, > /Totdl assets j..., _.... '.f $483.619'732. $ 22.590.748 '$ 80.938.390 ~ $121,874,850 $709.023,720 1 i < <- .ic . m -- p; * ~ .f; 4,. 4 5 ' gg I-c 4 i.* L Je 19 o, <a s 9-4,g. q: f s C n r.-4 7 'A.. i l C t i. , ~ q.g, 7.4 Qh [4 '4 v a, p r g 9,b h y 3

0

~lr

,1 + i w .o e J i i ' w ~ 4 f Aqs i ,s m

D4

/ LIABILITIES AND FU,ND EQU,ITY 3 Electric ' Gas Water Wastewater - Combined Long term _ debt and fund equity: i Long-tarrr; cobt -- - a r ,' ; Utihtios system revenue borjds. ' $257,660,446 $ 18,829,133 $ 35,431.090 $ 47,588,023 $359,508,692 p Ut$ ties sy,; tem commercial 5,660.439

10,587,274.

73,261,000 57,013.287 ' paper notos i,.. c. .f e -(7,338,109). i (86.352),

(546.141)-

(593,260) ~ less: Unaroort! od bond djscount', (6,112,4_46), t ,. _TotaHong term debt, 308,561,287 18,742,781 40,545,388 57.582,037- - 425d334,93[ x cx ,v. . Fund eduhy --, Contributions irl aid of [ constrUctiorf,,,, ',,.,,, ~? 24,878.767 44,872,363: 69,751,130 ' 875,380 12,655,402 10.924.360 172,906,926: .42 148,451,784. i.P,etained earningsj. 4

Total fund equity J.

148.451.784_ ~ '875,380 37.534.169 55,796.723 242,658,056; 3 Totallong term debt and fun $[ equity 457.013,071 0 19,618,1614 78,079,557 ~. 113,378,760' 668,089,549 t " Payable from restricted assets: .2.979,398' 468,02'J 3,447,427 > - Utihty deposits,, c $. g,,,,,,.,,,, i Utihty system revenue bondsi 105,329, 104,242. li725,000 g13 a payable current...,.. n 1.515,429 - 4I iAccrued interest payablo,w,, i,. 11,590,473. n Utility' plant improvement fund -. 70f,093 '1,444,568 1,920,863* 16,660,997. , lv Accounts payabio and accrued L Sliabihties F "401,754-f 62,904 40,519 505,177' ~ ! Due to other turidsi..,., 438,735 w 408,735 i-c- Tota /Myable from restricteN assets.,,., 16,487,054-1,581,857 '1,612.801. 2,065,624 21,747',336 - e s I 3 L O CCurrent it'abilltles: t 3 1 i Fuels payable G,,,, e, 3.'880,266: ~ 503,346 '4,389,612 3 1 Accou_nts payable and- .' 5,238,039 > < 431,848 , 598,463 1.032,481-7,300,831' 3 s . accrued habilities 4 4, } Due to (from) other; funds J, -(4.681,940) 119,719 ' -:320,029 4,911,235 669,043 % y,.' 4,442,365' 1,054,913. 918,492' '5,943,716 12359,486 ]otal current liabilsties 3, ,4 y Deferred creditsi, 5.677,242. '335.817

327,540 486.750 6.827,349 e

.i ' [ (( Total fiabiliths and tund equityL.. $483,519,732 4 - S'22.590.748i.$ 80,938,390. $121,8'74,850 $709,023,720, g. h -N

jij,

,t' .g j 1 + / 4 4 f _m. _m_ _a__,-, ,..g

m w; m. + e s a . 2 w-c 7

y

,o 0- ,. c. s m 7,,,+ -, i g-4 >1 ,m.. g 3#GAINESVILLE REGIONAL UTluTIESs ~ i. r c m ' gi Schedule of Combining Statements'of Mewonueland Expense ~ and pletained Ramings: " p;. ', ' for the year ended September 30,a990: - -. m 4 . "s ; ~ y a(. 1-~ i ~ <5: ^ 3 Electric i 6 as Water - ' Wast'ewater? Combined 0 = Operating revenue .V ; Sales and service charges : . $110,024,263 :.. . $ 7,989,118 ; $ :10,306,888 cS136,952,392 $ B 832,123 3 e t Other opotating revenue L,,,.,,,,. 1,234,626-129.018' 41,963 129.647, '1,535,254 3 I t g e a p

70tal operating rewnuoi,,..,...

111,258,889 8.761,141 '8,031,081 10.436,535 138,487,646: s t< 1 ! Operating exper.ses:w L 3 -1 6,t

Operations and maintenanco;..,.,,

55,385.674- '5,989,458 3,156,677' 4,035,949 68,567,758 1 Administrative nnd general.-,,w. 11;339,380 1,305,900 1,847,371 2,407,653 16,900,304. + s y

Deptociation and amortizatiorr,;,.'

13.562,561; 805,697

1.745,150

'2,384,293 18.497,701 Q-. 1 Total operating expense - 80.287,615 101,055 6.749.19f ' 8,827,895: -103.965,763 - .p.. N 1_

Operating incomej.

30,971,274 660',086 .1.281,883'

1,608,640

'34.521,883-h-] f i .Non operating revenue (expense): ,[J u ilnterest revenue,,' ,.. s.,o. 11,232,158. 1,780,370

1;732,978 2,794,884 17,540,390 1 3

I 4 nterest expense c c, c,,,,, o t 1(27.041,081): -(1,461;848). -(2,992,012) (4,056.709)- (35,551,050) y 4 y, 8, f _ 'lf.,. + ~ l ) s ,70tal hon: operating. (1,259.034) = (1,261,825)- (18,011,260)! - " ? 3 revenue (expense) { .',n.',,,, (15,808.923) _ 318.522. i j , Q2 incomo befoie chorating transfers,, 15,162,351 978,608. a; 22,849 d 346,815: 16,510,623 L y M l dper$ ting transide to general fund,, -(11,703.799) (18f,500)- .(1,461,936) '-(1,801,087)- (15,154,322) l Nd income (loss):.... ', 3,458,552-

791,100

(1,439,087) - (1,454,272) 1,356,301. E m. b iRetairEd e'arnings, beginning., i - 143,682,785 14,337,078: 11,678,063 -169.697,926 4 u, u e,

8..,

M' s J. . u' ^% - Residual' equity transfels s,. f1,310,447 ' 84,272 (890:276): .(504,443)' =~ ,4 O, g q:;,-, _... 7, - ^ i _'pAmortization of contributions .y , 852,699 ' 'lin aid of construction,. .a :. s. -647,687 1,205.012- '1, E-w m[ ', IRetainbd earnings. endingi

• 5$148,451.784. ' $ i875,380 - - $ 12,655,402

',.10,924l360 $172,9D6,926 l u-s e l

A L

} '3 D. e {t }.,' r. t iy'N' - sn o + c. g l. ;< ' l l -y -) 7 l-1y ,?.' y - - i \\ J 'c-y n,, M[Ol.

a v 3+ - e mm j 7' ; 2,; 4, m, ,m /l a f '. ;,v m' 7;- e i .s y _,' w s{p[n:,. _, __. j,, ,w' x. .d C'l

wGAINESVILLE, REGIONAL UTILITIES v >

s .a ,a (- s LU k ' 'q -) C ' lSeptumbe;rb30,4990% + 1 c. <~ + he u[U ' ['. ^ Utility Plant PropertiesD [

/ '

Balance 1 Sales and s Balance ; L{J ' f _ t Plant in services L ' e/30/es Additions J ' Retirements 9/30/90 ' + ( / Electric utility: fund:n l '~ N + 3. LProduction plant f..,, s. $24i,788,782 .$ t 2,246,532 - $ b 184,306' NW: Nuclear 100l..,,,, c,,, /..c.. n "4;167,339 ' /. 3,991 ~ $243,B51,000. ,.4c 4 w

4,171,330

'.109,201;387: .7,977,599 '893,345 - 116,285,641 L

e. Transmission and, distribution plant..,

Plant unclassified a ; c, J,, ,../ ,,,,,1... ' 377,830-2,801,942 e '13.504,941. s. 14,638,003' '1,668,880 . General and common plant ",, a ' 377,830: m;, E-m v 1 370,173l341 11,8'97,002 ' .4.257,423; 377,812,920 Q, Gotat slecIric utildy fundJ,........, % X p-0 l$bilbilstiFunk. = 13,786,723 ' 786,723 %,4f Distribution plant.,,,., i. y .e.t. g>+ d General plant.4i Plant; acquisition adjustment @, 759,944 759,944' 2.,., ,<o. a 4.505.664 .4,505.664 ( , cy, ; a .c., 3 (,g i 1 ( ( e r Tot ^t pas utihty lund. ; O.',,..j... n..;,;,,., 19,052.331; 19.052,331 ~ .~ q [ 3, gu Watet utility fund;; 1. Suppl % pumping and treatment _ plant : w,, 12,320,786 : 13,982 1,499 781, 10,634,987, i", 7 s,e,, i 53,375,667 - '3,894,715. 248,954 57,021,4281 y

Transmission and d sinbution plant.

4...

...,,,3, 2,407.072 342,735 308,908 ' 2,440,899 L G,c i ; General ptanti ..,t,p ,,,.3 3, r= m q,o lg - f ' T$tal ' ater uthity fund W,,,,, t, w 68,103.525 4,251,432 2,057,643 e 70.297.314, ~ ~ g xc ; .s w-o JWasiewater utility l fund:L. L 7% s Pumping and treatment planti -. ;, 32,577,057 675,990. '74,9411 33,178,106 = 1 $ ' ;Collectjon plant 4, J. 53,337,387. 2,630,716 75,007' 55,893,096 4 3,623.629 c 446,163 352.700- ' 3,717,002 = 7 . General plant i.f., ,(;.. V' +n g*A . ).: ].D N fotal' wastewater utility h$d'. ,,l;,, 89.538.073 ' 3.752.869 l

• ^"50038' 92.788,204L 4

~ rt ,n .o + .[ .\\ f w-:

• $ 38,953.634 - !$ 6,817,804 ;. $559.950,769 :

l. Total plant in serviceh,,,

.w, $527,814,939 , -, c,, g. m w m ,_yW % g( L.. c 9 $ " f Construction in progress .r ~ O 1 iCoaruction fund.T ; ~ $ J2.564,769 ' $ 1,087,714' - S (1,596,480 -. $D2,056.003 1 Electric utility fund..,,. s1,432,967 c1,432,967 ? Gas' utility fund C,7t ', .,., i, M i Watolp utility; fund l,,., - 1,046,659 2,673,977

1,059,467 '

,2.661,169 ~ ' a dWastewater utility fund.,, r,., '2.914,943 9,182.300 1,239,594 ,_10.857,649, ' f w;n c W. i LTotalconstruc/NnL/unk, /, e, . i. f,.. 0.526,371 14,376,958 3,895,541 17.007,788 lylit]Ilty plant impronment fund:l + 3,341,149 b , I ~ t Electriciutility fund.,,,,...,,,

s. c,,.. ~.

2,969,256 10,927.577 '10,555,684 -. *- 906.037 996 001 -1,251,889 650,149 b > : Water' utihty f,Und < m 1 '2 t....w...~ 491,178 895,300 > 941,311 '445,1671 Wastewater; utility fund) G.., e y 0-

f,-

,, $ 70th! utility pN1nt ' improvement fund., ~ 4,366471 12,818.878 '12.748,884 4,436,465 ,, +,, n-h Total.cobstruction n progress; I '$ 10.892.842 $ 27,195.836-an== awn - ~ $ 16,644,425 $ 21,444,253 w g< : w _ w ef j? '%s. I E 4 y j g d1. s s a

w ,me w U pics, ' igp[ .i f ' s ; + l l;.,- a 'e y ^' v 7g: y 4 r .7 w,

. - ~

,e W a GAINESVILLEcREGIONALiUTILITIESL '" fd ~.. -. > J [- o. - :.+.> e x; m$,. SclHidule'of A.mournedstod Depreciation and Amortisation r J. - e; sc-s M hML M M$ h @s?S6ptetsber 30,0090? ~ " ~;~ - 4 t., Qi l p s 1 \\ m:r--. w' +p J L 1 . Sales andi Bal$nce: W%* Balance - t 1 ' 1 9/30/89 _ --~ '+o Additions ! Retirements' > 9/30/90 *, - Dectisc utility lund: t', w g 4 $) 187,333 $ 77,048,462, +

1. Production ' plant se....... s..g. n

..<J. .5 70,204,344 '$ 2 7.031,450 ' 2.950,062 ir

• 7 o Nuclear fuel. 7,.. n,. <;,..'... e, J

..;,. 3 , 2,649,237 ' ' '300,825, 3. b

Transmission and distributon plant....... :

,. i, _ 24,789,265

3.064.672 ;

'779.140 ~ 27,074,796 . + ', YGeneral and common planti...i.,, d.......,. 6.171.317 C1,415;721 J , 2.326.435; - "S,260,602; ^ <n g. _ q,., _s ik Y -}^ .s. iIi 4 '}( Total ekscfric utility IUndl,........i. :. < o t.i.?,..., -103.6 4,163' 11,812,668-- '3.292,908- ~ 112.333.922 4 '--{, -3 r 1-t ~ 's tihtyj*und:X_ ' y*

Gas

^ o ~. 6,762,765 - L6",762,795 ~ ? ' Operating fund s........... n 1217,769) 3 . j. af Plant acquisition adjustment"...,J...,,. ~ .c,,,... 217,769 -,..s ~_ 3 y x-6,980,534 ' . Total ga. s utdty /und.I,,.,',.3.',,,,,. 6.980.534 > .:.....,c.' m 1 4 - 7 -3 l'

Wator utihty fundi ', O 3,860,432.

.n+ <j m

• j Supply, pumping and treatment plant ;...

5,178,063 ~..'1,229,431 248,954' e15.456,524 ' 4 347,213 1,664,844: r 4 Transmission and distribubon plant. 14,476.047.- 4 JGeneral plant i.., (.1. l,, y ' ;., t.,,, c. .....i. 1,732.735 224,021 99,152' 1,857.604' 'y J x T. 3, t +- l-3 443 21,386,845" 1,800.665? '2,012,950s 21.174,560: ,j a f Total watet utilit/ /und' o .,i..,' ~.. ' .s... "p' "p. y < g \\J" ,. g7 jI* ' Wastewater!utihty fund: K

Pumping and_ tieatment planti..i.;,

.,,,s:.. - 9,921,218, l1'068.270 74.937 -10.914,551! E 3

• Collection plant'.1., m,,..,..i..-

, f 12,970,822 _ J 1,078,434 - 9 75,007 13,974,249 s General. plant,-...w,,..,.a.,,,..... f.,.. ' ' 2.713,169 a ' ' 356.560 ' 255,875 2.813,855 .j l [p-,i';W [

w f'

L 2.503.264 '_ 405,819 i27,702.655' % fTota[wa' tewater utibty plant (a............,, ~ 25,605.209 s s .s g. 3 N,

.C\\-

.-s5 . 6-O, .? h+

• 'f, Totals;,;,/...g.,,..

$ 23,097,1311 $ = 5.711,677 $168,191,671 1 $150.806.217 g,

1. 3 i.,...

m t, 3y* i >A.-

c. i.

I y u 3 1 m s m -:i I _, ~ 5-j, 1 ) ? p ( j j *. s' g-,'..'i;- r--'e-s. y-u, c ,7 ., j. ;- e s $ h[ + F + e ,y ,;..[ v /. h. 'i j ) g y - a - \\ '_ [ g j i g-3; ,y ^,. f }{ ' '. r ~ E y N f 'Ii 'i 3 y yq7 + "i 'I i N, -3 ' f r **f l ' ' 1 3 y [ h .4 H - 0; i y6.-. 0: ,( _ ,1 i

N, dm &&, O ki? ? 4 l N'f, M y w y _ ; a s gr e Jt c .[ 5 '4 ; ['b. F U,- 'ih 9 P!r. Wy;ia. 1, p C.,' e .s,1

• o-MN

, h. III ' h.[m d i u M, ugfg. .I + -. 3 !f v ^ 4J. - ' ;g m y q i .mm,

a..

FC*E m 4i ~ c N%ed Public . p ". 4 g*' p. g mtantef 4 F s M - = . & Lybrand and: p a1

&, Monk,iamsworth &1 Company?

w wl >- a nf, e 3 i [i,.' i:j F , f' ,g E 4 4 n+ 3 ,- c 3 .',,j Y t 1-pp Revenue Bon. ds :.. [o t w" ~ n 3 1rustee/ Registrar / Paying Agent y A S; s-NorYork, New York - ,_n Morgan Guaranty Trust Company - l^ ww 3 a,,,. .o.. (, '3 n m = < 3 j ( i 1 6 ,m,. ;

Tax Exempt ; _

q O g.c > y f7 Commercial Paper.- w" Dealer- @iugaQ$' y; w . Gotaman Sachs and'C6mpany g "7' New Wrk, New Wrk ,< m <m [ ( m, a ^ .Peying Agent; . %..., e 4

m.c. A'

.4 l

,, Manufacturors Hanover u

gqA' [,

Trust Company L New York, New Wrk W 1 ..w w y s. n-h.- .f \\ l. t 'T 1 ] }.{ ( l p t i- "b k -3 6 @;r.d &w,u,9; .e t -n. e

p

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