ML20082P523
| ML20082P523 | |
| Person / Time | |
|---|---|
| Site: | Fort Calhoun  |
| Issue date: | 09/04/1991 |
| From: | OMAHA PUBLIC POWER DISTRICT |
| To: | |
| Shared Package | |
| ML20082P518 | List: |
| References | |
| NUDOCS 9109100362 | |
| Download: ML20082P523 (8) | |
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I OMAHA PUBLIC PO'.lER DISTRICT FORT CAIJ10UN STATION DECOMMISSIONING EXTERNAL TRUST FUND FINANCIAL STATEMENTS AND INDEPENDF.NT AUDITORS' REPORT PERIOD JULY 2,1990 (DATE OF INCEPTION) Ti!ROUCll JUNE 30, 1991 I
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i OMAllA PUBl.* 1 POWER DISTRICT FORT Caul 0UN STATION DECOMMISSIONING EXTFRNAL TRUST EltiD PERIOD JULY 2,1990 (DATE OF INCEPTION) T11 ROUGH JUNE 30. 1991 TABLE OF CONJ.CilS.
f.att INDEPENDENT AUDITORS' REPORT 1
STATEMENT OF NET ASSETS AVAILABLE FOR DECOMMISSIONING COSTS, June 30, 1991 2
STATEMENT OF CllANCES IN NET ASSETS AVAIIABLE FOR DECOMMISSIONING COSTS, Period July 2,1990 (date of inception) through June 30, 1991 3
NOTES TO FINANCIAL STATEMENTS 4-5 CERTIFICATION OF PAYMENTS FROM THE FUND PURSUANT TO l
SECTION 5 AND 6 0F THE FORT CAIJ10UN STATION UNIT
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NO. 1 DECOMMISSIONING FUNDING PLAN 6
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I' J,NyEPENDENT AUDITORS' REPORT Omaha Public Power District Fort Calhoun Station Decommissioning j
- I External Trust Fund
We have auditad the accompanying statement of not assets available for Cecommissioning costs of the Omaha Public Power District Fort Calhoun Station Decommissioning External Trust Fund as of June 30, 1991 and tha related statement of changes in net assets available for decommissioning costs for the period July 2, 1990 (date of inception) to June 30, 1991.
These financial statements are the responsibility of the rund's management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform *he audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and significant jI estimates made by management, as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material respects, the financial position of the Omaha Public Power District Fort Calhoun Station Decommissioning External Trust Fund as of June 30, 1991 and the results of its operations for the period July 2, 1990 (date of inception) through June 30, 1991 in conformity with generally accepted accounting principles.
D M e k +- b b August 8, 1991 I
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OMAllA PUBLIC POWER DISTRICT FORT CAuluUN STATION DEM3110NING EXTERNAL TRUST FUND STATEMENT OF NET ASSETS AVA11ABLE FOR DECOMMISSIONING COSTS I
ditNE 30. 13.dl b5 SETS Investaients (Note 2)
$31,357,808 Accrued interest receivable 3.134.488 Total
$34.492.796 LIABILITIES AED NET ASSETS NET ASSETS AVA11ABLE FOR DECOMMISSIOJING COSTS
$34.492.79h See notes to financial statements.
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'I OMAHA PUBLIC POWER DISTRICT
.I FORT CA1)l0VN STATION DECOMMISSIONING EXTERNAL TRUST FUND I
STATEMENT OF CHANCES IN NET ASSETS AVAIIABLE FOR DECOMMISSIONING COSTS I
PERIOD JULY 2, 1990 (DATE OF INCEPTION) THROUGH JUNE 30. 1991 i
REVENUES Investment income
$ 2,666,201 EXPENDITURES - (Note 4)
EXCESS OF REVENUES OVER EXPENDITURES 2,666,201 NET ASSETS AVAIIABLE FOR DECOMMISSIONING COSTS, I
JULY 2,1990 RESIDUAL EQUITY TRANSFER (Note 3) 31.826.595 NET ASSETS AVA11ABLE FOR DECOMMISSIONING COSTS,
JUNE 30, 1991 S34.492.796 I
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OMAHA PUBLIC POWER DISTRICT I
FORT CALHOUN STATION DECOMMISSIONING EXTERNAL TRUST FUND NOTES TO FINANCIAL STATEMENTS PERIOD JULY 2,1990 (DATE OF INCEPTION) TilROUGH JUNE 30. 1991 1.
SUMMARY
OF SICNIFICANT ACCOUNTING POLICIES Ornanization of Fund - The Fort Calhoun Station Decommissioning External Trust Fund (the " Fund") was established in accordance with Nuclear Regulatory Commission (NRC) regulations, for the purpose of discharging the Omaha Public Power District's (the District) legal obligation to
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decommission, as defined by the NRC, its Fort Calhoun Nuclear Power l
Station Unit No.
1.
The District's Board of Directors has approved the
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collection of nuclear decommissioning costs based upon the NRC's external minimum funding requirements.
The NRC's requirements are based on a generic estimate of the cost to decommission radioactive portions of a nuclear unit based on the size and type of reactor. The estimate accepted for the decommissioning of the Fort Calhoun Station - Unit No. 1, when its l
operating license is scheduled to expire in 2008, is $106,500,000 in 1990 l
dollars.
The District is funding these costs in accordance with its NRC accepted plan and will periodically review and adjust, if necessary, the funding level for changes in tho estimated costs of decommissioning the I
plant.
2.
INVESTMENTS The Fund's investments are held by the Fund's trustee, the First National Bank of Omaha, in the Fund's name in accordance with the State Statutes.
The following is a summary of the amortized cost and estimated market value of investmer.t securities at June 30, 1991:
Estimated Amortized Market Cost Value U.S. Treasury Interest Receipts
$11,313,410
$13,791,475 Resolution Funding Corporation Interest l
Receipts 11,748,017 12,466,170 l
Federal Home Loan Bank Bonds and Discounted Notes 6,449,216 6,664,687 Federal Farm Credit Bank Bonds 1,200,000 1,200,750 l
Federal National Mortgage Association Bonds 591,621 595,238 Secured Repurchase Agreements 55.544 55.544 Total
$31.357.008
$34.773.814 4
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NOTES TO FINANCIAL STATEMENTS - (Continues 11
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3.
INITIAL CONTRIBUTION f
i The residual equity transfer to the Fur:d consisted of a transfer of f
$31,826,595 in securities on July 2, 1990 i rc te the District to the i
I external trust account in accordance with the District's Board of Directors Resolution No. 3945.
4.
INDIRECT CONTRIBUTION i
Trustee fees of $2,850 were paid on behalf of the Fund by the Omaha Public 1
Power District.
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l CERTIFICATION OF PAYMENTF FROM Tile FUND PURSUANT TO SECTION 5 AND 6.0F Tile FORT Caul 0VN
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STATION UNIT NO. I DECOHMISSIONING FUNDING PIAN PERIOD JULY
,190 (DATE OF INCEPTION) THI A "y TUNE 30. 1991 Net Applicable - No such payments were inade during the period, 6
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