ML20104A539

License Application,Vol 1, Consisting of General Info Per 10CFR50.31. Annual Rept 1977 Encl

ML20104A539
Person / Time
Site:	Catawba
Issue date:	03/21/1979
From:	DUKE POWER CO.
To:
Shared Package
ML20104A535	List: ML20104A533 ML20104A539
References
NUDOCS 7903260268
Download: ML20104A539 (82)

Text

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Duke PowerCompany

. Catawba Nuclear Station f

License Application Volume 1 e ,

I i i raw DUKE POWER .

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l BEFORE THE UNITED STATES NUCLEAR REGULATORY COMMISSION l

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DOCKET NOS. 50-413 and 50-414 I

In the Matter of DUKE POWER COMPANY APPLICAi!ON FOR LICENSES UNDER THE ATOMIC ENERGY ACT OF 1954 i

AS AMENDED for CATAWBA NUC* EAR TATION Units 1 and 2

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I-BEFORE THE UNITED STATES NUCLEAR REGULATORY COPHISSION 00CKET N05. 50-413 and 50-414 In The Matter of DUKE POWER COMPANY AP.'LICATION FOR LICENSES .

Duke Power Company for itself and as ager.t for the North Carolir.a Municipal Power Agency Number 1 (NCMPA-1), hereby makes application, pursuant to the pronsions of the Atcmic Energy Act of 1954, as amended, and the .

Nuclear Regulatory Commission's RJies and Regulations thereunder, for the necessary licenses to own, use and operate the utilization facilities here-inafter described as an integral part of a nuclear electric generating station to be located in York County, South Carolina, and to be known as the " Catawba -

Nuclear Station, Units 1 and 2".

This application has been combined for t-o proposed generating units pursuant to the provisions of 10 CFR 50.31. It consists of the following s .'

l l four parts: (a) the general information required by 10 CFR 50.33, which is set out herein; (b) the technical information and safety analysis report required by 10 CFR 50.34, which is set out in a separate document entitled.

~" Duke Power Company, Cata-ba Nucleae Statio , Units 1 & t, Final Safety 1

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. Analysis Report", forwarded herewith and made a part. hereof; .t) the environ- ,

mental information required by 10 Cf 3 51, which is set out in a separate -

l document entitled, " Duke Power Company, Cocawba Nuclear Station, Units 1 and 2 l Environmental Report - Operating License Stage", forwarded ht rewith and made a part hereof; and (d) other material filed by Westinghouse Electric Corporation.

Duke, or others independert of this application but made a part hereof where specifically referenced in one of the above documents. l GENERAL INFORMATION

1. Name of Applicants j The applicants are Duke Power Company and North Carolina Municipal Po-er Agency Number 1 (NCMPA-1) whica owns a 75% undivided interest in Unit 2 and a 37.5%

interest in the station support facilities as tenants in common. Duke has exclusive responsibility for the design, construction and operation of the Catawba Nuclear Station.

2. Address of Applicants Duke Power Coepany i 422 South Church Street Charlotte, SC 28242 North Carolina Municipal Pe.er Agency Number 1 222 North Person Street Suite 209 Raleign, NC 27601

3. Description ci Eusiness anr1 Crgmitatir>n of Applicants ,

Duke Power Company is prima.ily eng marl a, a public utility in the production.

t rm',niaion and sale of elect ric ener gy in the central portion of Norto Caru-9 2

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I lina and the western portion of South Carolina, comprising the area in both states known as the Piedmont Carolinas. Its service area covers approximately 20,000 square miles and has an estimated population of 3,900,000.

' Duke serves more than a million customers and is the principal supplier of electric energy in 44 of 56 counties located in its service area. It sup-plies service directly to retail customers in 216 cities, towns and unincorpo-i i

rated communities. It also sells power at wholesale to approximately 40 other incorporated municipalities and to a number of Rural Electrification Administra-l tion cooperatives and private utilities.

The total installed capacity of Duke's electric utility plant as of January 1, 1979 was 12.322,000 Kwe, consisting of eight conventional steam l

electric stations with a capacity of 7,691,000 KWe, one nuclear steam electric l

<tation with a capacity of 2,580,000 Kwe, twenty-six conventional hydroelec-tric plants with a capacity cf 842,000 KWe, a four unit pumped storage hydro-electric statio;. with a capacity of 610,000 Kwe, and twenty-eight independent l

I combustion turbine and diesel generator peaking units with a capacity of 599,000 Kwe.

NCMPA-1 is a public body corecrate and politic and an instrumentality of the State of North Carolin3, incorporated under North Carolina statutes on i January 19, 1976. hCMPA-1,,3', creat(d to plan, cevelop, construct, and operate generation and transm ssion f acilities. NCMPA-1 is the sole and 4 exclasive bulk power supplier for nineteen political subdivisions in excess of any allotment of federal po-er from Southeastern Power Administration.

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4. Organization and Managemen't of Applicants Duke Power Company is a corporation organized and existing under the laws O  ;

l of the State of North Carolina, and its principal office is located in ,

l Charlotte, North Carolina at the address stated above. It is domesticated and authorized to transact business as a public utility in the State of i

South Carolina. _,

Duke Power Company is not owned, controlled or dominated by an alien, a foreign corporation or foreign government. All of Duke's principal offi-cers and its directors are citizens of the United States.

Their names and business addresses are as follows:

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DIRECTORS Name Address Naomi G. Albanese Greensboro, North Carolina l Douglas W. Ecoth Charlotte, Nori.h Carolina l

Thomas H. Davis Winston-Salem, North Carolina Pobert C. Ec* wards Clemson, South Carolina Joon L. Fraley Cnerryville, North Carolina A' ester G. Furman, 'll Gree wille, South Carolina William H. Grigg C!.arlotte, North Carolina

! Paul H. Henson Kansas City, Khsouri

, ' G2orge H. rierbert Durham, Nortn Carolina l

John D. Hicks Charlotte, North Carolir.a l Howard Holderness Greensboro, Nora Carolina Carl Horn, Jr. Charlotte, North Carolina William 5. Lee Charlotte, North Carolina

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t 9 O! RECTORS (cont'd) .

Name Address -

4 Buck Mickel Greenville, South Carolina s , . ' (' -

Reece A. Overcash Dallas, Texas -

Warren H. Owen Charlotte, North Carolina * -

l Marshal I. Picker.s Charlotte, North Carolina

, Marceo A. Sloan Durham, North Carolina '

Austin C. Thies Charlotte, North Carolina

.,0 William L. Watkins Anderson, South Carolina -

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PRINCIPAL OFF*CERS .[,

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Carl Horn, Jr. , Chairman of the Board and Chief Executive Officer Charlotte, North Carolina .

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• W. S. Lee, President an; Chief Cperating '

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I Officer Charlotte, North Carolina

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D. W. Booth 7:g Executive Vice President Charlotte, North Carolina '."

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W H. Grigg, Senior Vice Presiden Legal and finance Charlotte, North Carolina ,

i John D. Hicks, Senior Vice President, ,) '

Public Affairs Charlotte, North Carolina A'1 .

W. H. Owen, Senior Vice President, .

l Engineering and Construction Chariatte, North Carolina ,

A. C. Tbies, Senior Vice Presiden' Production an1 Transmission Charlotte, North Carolina 4 Keith Ariedge, Vice President, .-

t Western Division Hickory, North Carolina  ? . *. ' -

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' Thomas C. Berry, Vice President, .

Southeastern Division Greenville, South Carolina s( ' ,

.3 William J. Burton, Vice President, , .

Corporate Coc.munications Ca.arlotte, North Carolina - j t--- --

Henry L. Cranford, Vice President I Central Division Charlotte, North Carolina -

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PRINCIPAL OFFICERS (cont'd)

L. C. Dail, Vice President, O

Design Engineering Charlotte, North Carolina Donald H. Denton, Jr. , Vice President, Marketing Charlotte, North Carolina Robert L. Dick, Vice President Construction Charlotte, North Carolina 5'9ve C. Grif fith, Jr. , Vice Presiden'.

and Genaral Counsel Charlotte, North Carolina Porter A. Hauser, Vice President, Finance Administration Charlotte, North Carolina E. M. Hedgereth, Jr. , Vice President, Distribution Engineering, Construction and Operations Charlotte, North Carolina Frank A. Jenkins, Vice President, Transnission Charlotte, North Carolina J. Wesley Lewis, Vice President, Division Operations Charlotte, North Carolina Joe S. Major, Jr. , Vice President, Personnel Charlotte, North Carolina Joseph C. Hann, Vice President, Northern Division Winston-Salem, North Carolina Paul H. Hann, Jr. , Vice President Operation Charlotte, Nortn Carolina William O. Parker, Jr, , Vice President

( Steam Production Charlotte, North Carolina l

Thomas M. Patrick, Jr., Vice P esi'ent, Eastern Division Charlotte,-North Carolina i

George W. Ferguson, Jr. , Secretar-j and

- Deputy General Counsel Charlotte, North Carolina l

Richard C. Ranson, Treasurer Charlotte, Nortn Carolina William R. Stimart, Controller Charlotte, North Carolina i

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!I NCMPA-1 is not owned, controlled or dominated by an allen, a foreign corporation cr foreign government. NCHPA-I's office is located in Raleigh, North Carolina at the address stated above.

i The names and business addresses of NCMPA-l's Board of Commissioners and its staff, all of whom ai. citizens of the United States are as follows:

BOARD OF CO M ISSIONERS Name Address  !

! Roy B. Culler, Jr. , Chairman High Point, North Carolina Donald C. Lambeth, Vice Chairman Morganton, North Carollaa David Lowe, Secretary-Treasurer Lincolnton, North Carolina W. H. McSwain, Sr. Albemarle, North Carolina William F. Lattimore Bostic, North Carolina William H. Edwards Cherryville, North Carolin&

! James L. Dorton .

Concord, North Carolina L. R. Whisnant Cornelius, North Carolina Morris Baker Drexel, North Carolina John Bridgeman Gastonia, North Carolina Gene Johnson Granite Falls, North Carolina i Von J. Wilbora Huntersville, North Carolina V. C. Deadmond Landis, North Carolina

! Earle E. Riddle Lexington, North Carolina Dee A. Freeman Maiden, North Carolina Harold S. Helms Monroe, North Carolina Wayne Dellinger Newton, North Carolina 7 i 7

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i BOARD OF CCP9tISSIONERS (cont'd)

Jack G. Cru p Pineville, North Carolina Lester D. Roark Shelby, North Carolina H2rean E. Dickerson Statesville, North ~ Carolina STAFF t n Ralph Show, General Manager Raleigh, North Carolina J:mes T. Sobo. Assistant Treasurer Raleigh, North Carolina N2ither applicant is acting as an agent or representative of another person in filing this application.

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5. Class and Period of License Applied for and Use to Which Facilities Will be Put

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l The license hereby applied for is a class 103 operating license as defined _

by 10 CFR 50.22. It is requested for a period of forty (40) years. Appli-

! cants further requests such additional source, special nuclear, and by pro-duct material licenses as may be necessary or appropriate to the acquisi-l tion, construction, possestion, and operation of the licensed facilities I

l- and for stcrage of irradiated fuel free other Duke nuclear facilitles.

This application also requests that the operating license so issued authorize the NCMI'A-1 an undivided ownership interest in source, special nuclear and by product material to be possessed by Duke in operation of the Catawba Nuclear Station.

The facilities will be used for the generation of commercial electric energy '

l for transmission and sale to customers of Duke and NCMPA-1. They will in-

, clude two pressurized water resctors to be known as " Catawba Nuclear Station

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l Units 1 and 2." It is expected that each unit will be capabic of an output i

of 3427 MWt (including 16 WL contribution f rom reactor coolant pumps) corres- )

ponding to a net electrical capability of about 1145 We. All physics and core thermal nydraulics information in the ettached Final Safety Analysis l Report is based upon the reference core design of 3411 Wt. Site parameters, Containment Engineered Safety Features, and certair. ,5ypothetical accioents arc l evaluated for a NSSS power output of 3582 Wt. Tne Westinghouse Electric Corporation will supply the design and fabrication for the first core for each of the two nuclear generating units.

6. Finaccial Qualifications of Applicants Duke estimates that the total cost of the Ca wba Nuclear Station, Units I and 2, including the initial core for each unit, will be approximately 51,676,663,000 based on the following breakdown:

INITIAL TOTAL PLANT TOTAL PLANT FUEL CORES PLUS INITIAL FUEL l

l Direct Cost at Commercial Operation (:}1,190,571,000 137.118,000 1,32?,689,000 1

Allowance for Funds (2-#

During Const. 325,842,000 23,132,000 348,974,000 Propert, Taxes During Const. - - -

Total Costs 1,516,413,000 160,250,000 1,676,663,000 The financial qualifications of Duke Power Company to engage in the proposed activities are evidenced by the financial data contained in its annual report to shareholders for the year 1977 a copy of which is attached hereto as ""

Exhibit I. The financial qualifications of NCMDA-1 to engage in the proposed h ~~

l-activities are evidenced by the financial statements attached hereto as l Exhibit II.

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Construction of the Catawba Nuclear Station will be financed as an integral part of Duke's total construction program. Funds required for the

- ~~$ construction program will be obtained from retained earnings, provisions for depreciation and other internal sources, and through short-term borrowings and the issuance and sale of securities.

NCMPA-1 intends'to issue and sell its electric revenue bonds in amounts sufficient for NCMPA-1 to pay to Duke 75% of the cost of the planning, design, licensing, acquisition, construction and completion of Catawba Unit 2 and

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37 1/2% of the cost of the support facilities.

(1) Excludes profits and fees paid Duke by NCMPA-1

, (2) Reflects Duke Ar0C on entire station and does not reflect NCMPA-1 financing costs.

The estimated anr.ual costs for the first five full years of operation for Catawba Nuclear Station are as follows:( }

5 l103,200,000 Fixed Charges I

4,776,000 Operation and Maintenance 24,277,000 Fuel Costs

. . - The estimated cost of decommissioning the station, if and when it may become necessary, is $33.5 million per unit (1977 dollars) for mothballing - delayed removal / dismantling and cumulative total annual maintenance and survelliance.

The funds necessary to operate and shu down the facility will be derived from the electrical operating revenues.

(1) Estimates are based on Duke's cost for the entire station, and do not reflect profits, fees, or financing costs paid by NCMPA-1.

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o, Duke will obtain all required and appropriate property and liability f insurance for the Catawba Nuclear Station and its fuel and will advise the Commission accordingly. '

7. Site Location and Completion Dates The Catawba Nuclear Station site is located on the shore of Lake Wylie which is impounded by Applicant's Wylie Dam completed in 1925. The dam, lake and hydroelectric station are covered by Federal Energy Regulatory Commission license #2232 granted to the Duke in 1958 for the Catawba-Wateree Project That license specifically covers the ute of Lake Wylie waters as condenser cooling water for a steam generating plant at this site. .

Duke's projected load requirements will necessitate full power opera-tion of Catawba Nuclear Station, Unit 1, by July 1981, and Unit 2, by January 1933. The earliest date for completion of construction of Unit 1 is estimated to be August 1, 1980, and the latest completion date is esti-mated to be August 1, 1981. For Unit 2, it is estimated that construction will be completed by February 1, 1982 at the earliest and February 1, 1983 at the latest.

Construction Permits Nos. CPPR-116 and CPPR-117 currently indicate the earliest

, date for completion of Unit 1 is June 1,1980, and the latest date for l

l completion is June 1, 1981, while the earliest date for completion of Unit 2 i is June 1,1981, and the latest date for completion is June 1,1982. If l

necessary, a request for an extension of the construction permits will te flied at the appropriate tin;e.

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8. Rcquiatory Agencies and Area Newspapers The applicants are located in the Piedmont section of North and South Carolina. g i

The following regulatory agencies have jurisdiction over the rates and services that would be incident to the Catawba Nuclear Station:

The Public Service Commission of South Carolina Owen Building 1321 Lady Street P. O. Box Orawer 11649 Columbia, South Carolina 29211 North Carolina Utilities Commission

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P. O. Box 991 Raleigh, North Carolina 27602 Federal Energy Regulatory Commission Washington, DC 20426 The following are the news publications which circulate in the area of the Catawba Nuclear Station:

South Carolina FORT MILL TIMES (weekly)

Fort Mill, SC 29715 CLGVER HERALD (weekly)

Clover, SC 29710 YORKVILLE ~NQUIRER (weekly)

York, SC 29745 l

ROCK HILL EVENING HERALD (daily)

Herald Publishing Company 132-136 W. Main Street Rock Hill, SC 29730 North Carolina BELMONT BAhNER (weekly)

Belmont, NC 28012 9

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s TiiE GASTONIA CAZETTE (daily) 2500 Wilkinson 80ulevard O Gastonia, NC 28052 THE CHARLOTTE OBSERVER (daily)

Anight Publishing Company 600 South Tryon Street Cnarlotte, NC 28201 l THE CHARLOTTE NEWS (daily)

Knight Publishing Company 600 South Tryon Street Charlotte, NC 28201

9. Restricted Data l

This application does not centiin any Restricted Data or other defense infor-4 tion, and it is not espected that any will become involved. However, the splicants agree that they will odt permit an one y to have access to such information if it does become insnived and will not permit any individual to have access;to Restricted Data until the Civil Service Commission shall have i

made an investigation and a report to the DJclear Regulatory Commission on the character, association and loyalty of such individual and the Nuclear Regalatory Commission shall ha e cetermined that permitting such person to have access to Restricted Data will not endanger the common defense and security. -

10. Communications It is requested that communicatiors pertaining to this application be sent to:

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i William O. Parker, Jr.

Vice President, steam Production Duke Power Company

' P. O. Box 33189 422 South Church Street Charlotte, North Carolina 28242 i

In addition, it is requested that copies of each communication be sent to:

Mr. W. L. Porter Duke Power Ccmpany'

P. O. Box 33169 422 South Church Street Charlotte, NC 28242 NCMPA-1 i 222 North Persen Street i

! Suite 208 Raleigh, North Carolina 27601 Mr. R. 5 Ho.ird Power Systems Division Westtrqhouso i tect e t( ~orroriticn P 0. Hou 155 i P:ttsbur;h, 6 ennw turn a 15/30 l

J. Michael Mr.Garry, III, Esq Debevoise and libermar. ,

1200 Seversteenth Street, N.W Washington, DC 20036 Mr. C W. Woods NUS Corporation 2536 Countryside Boulevard

• Clearwater, Florida 33515 i

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EXHIBIT II (Reprinted ' rom the fiCMPA-1 Bond Prospectus Dated November 1.1978) APPENI)IX C Cm"J IIISTOltICAl, OPERATING HESUI.TS ANI)

CONDENSED HAI.ANCE SIIEETS OF Tile PAllTICIPANTS The statements presented in this Appendix summarize and restate in a comparative format the operating results for the fiscal years ended June 30.1974 through 1978 an,I the financial condition at June 30.1977 and 1978 of the electric funds of the Participants. The information in these statements has been compiled by the local Government Commission of North Carolina from the Participants' annual audit reports for the years ended June 30,1974 through 1977 and for 1978 where available.

The presentation of these statements is designed to reflect availability of revenues: therefore. the statements are not presented in accordance with generally accepted accounting principles and are unaudited. The local Government Commission has made no independent venfication of the data contained herein and makes no representation as to the correctness of the information presented. _

The auditors' opinions expressed in these audit reports varied from an unqualified opinion to a disclaimer (no opinion). If the opinion was other than unqualified it was primarily due to the Participant having inadequate fixed asset records.

The basis of accounting utilized in the Participants' audit reports, with respect to their electric funds, varies from the modified-accrual to the full-accrual basis. The statements of each Participant are stated consistent with the basis cf accounting as noted.

In each instance. Bonds Payable represent general obhgation bonds issued by the P.irticipants for electric purposes. The Participagts have neither issued nor authorized any b<mds f(,r electric purposes since June 30, 1978. Transfers to other funds represent cash transfers to other

]' governmental and proprietary activities of the Participants.

^ [%_/ In some instances, the amounts shown for Power Sales will differ from the amounts shown for Total Energy Sales in the Table. " Participants of Power Agency. Electric Systems Desenption.

Customers and Power Sales"in the Official Statement. The latter amounts represent billings rather than cash recei..d in' that fiscal year and have been derived by the Participants from regorts submitted to the NCUC.

4 e

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I CITY OF ALHEMARLE El.ELTitlC FI'ND SDDIAlW OF Ol'EltATING ltESI'llnS si'nsudsted-f..r Yeare Ended June ice 1974 1975 1976 8977 197a Operateng Resecurs Po erSales $2ys;c. $1.!J.l .w.4 $4 !. 4.03 $4.939 Ta2 $ *. re.l .s a.n) hrellaneous 59.733 J2.7!r Nil 77 19 3b Im.2Ns Total . . 3.ttt6191 3.573x'2 4.6v. ens 4.m.05 ,5 57 Io Operaung Essen cs Power Purchawd I.fG5.::=7 2.531.o u 2.9n.35 syf2.56 Jw.035 Other Operaung and Ma.ntecance s Eartadmg ikpena ts.n and raptal Outlas t :fre.;:2.5 346.4fn _3'a.te.r; 374.U4 _ 1612 47 Total - 2.111.512 2;c7. sin 3 73.324 3.767.0fa 4%32e2 Net Operating Resenses . 9 2.579 .

6 ='.43 3 1.307.Ne 1.172.911 125.7Na Non-Ogwratmg Resenues 52.!,7 4 49e' IWJ. 16 TA1 35.414 Total 935.le4 7:1.319 1;t21.Ms l l+W 1;pa ar Non Ol erating Isisburwn.er.t>

Debt Sersere en E:ertrar Ns IPrincmal and Interest e ten 21e loSJrJJ line Mn 46 4y 44 Cd Transfers to Ou+r t ur.d- 4v.sc 47.J n41 or2.tc C.T o.~. G re.tva Total on. 47 JJ.T.va 70.i 214 Tot le> 611Xa Amount Avadatle fur other Purp=, s $ 35.019 $ =4 ;r4 3 61= MI _$ 4%.3'.e .

$ pox.2 Ilausof Arrourter h lArrruat W I 4cerval hi Accrual W1 Arrraal W1 Arrrual CONilENSED IIAI.ANCE SilEET O

el'naedsted--et June lot 1977 1972 AsstTs Ca.4 and Inses'mertA $ it.3.172 3 6pl.C6 Other Current Asw.s 419.ord 44rris land. ILnt ara Eqwnent (Net s f In ; recsata.n e afts. 4 Ge{ly. 4.n6 n9 Total As-ets $5 572.>is $534.s 4 se (Jas1LtTirs a%D lht. f.qt171 Cu.mt laat htes $ ll!..tc1 3 74 r3 CustomerIa rgwmts 67 tut 7de.14T.

lian in Pa3atJe eius termt . kee u n 4msc Tota!!atate.s . ;va rte ler. 91 =.

Fund Equits liepr.nir.r Fura E.;uity 54c2 rEl 5 :t re 35.

Arr.tur.t As a.'.at .e f. r Other Purp sea-4* .trent Year 4s4 3'G e^a 9X4 Incre.w elwreawe far Ca; .tal oau.s - -

larprer:atis. e273.4.st i est.:=4e Re crse, a1.e a 1.re wae Other 41s es se 49.ts ee End.rr F ed F4ait,s 5.:u 935 ins..,72 Tu*.a!lat.itaes an.1 Fur.d E.;u t,s $5 572.ts;1 $ *.ist t 4's Ill The arm..n'a fw la-A Itr.t acA l'.; ai; n r.t 6 . n at..se r., re ent the .<camsa!.atne r.f eil.r.4 tures f..r nsed asset > tt.at t aie te.n er.a.te mer ihe sear. L are..unters t a t. n rr.ade f. r awet, that i.aie lun w ld. tra. led nr duar 1.,l. theref.* tr.*y hase i.en mer tated lay an it.deterrmnable sn .unt I C-2

~

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TOWN OF HOSTIC ELECTRIC FUND J SO3131AltY OF Ol'EllATING HESUI.TS tl neudited-for )eare Ended June 30s 1978 1975 1976 1977 197m Operating Resenue.

Pou cr Sales $.11.37, $41.913 f.*a.742 $57.7.+ 5.t 221 , _.

hcellaneous - - - l'tO -

To .al . 3137% 41.913 E7:2 57.>94 ft. 221 Operating Espen e.

Power Puret.amt 18.345 72.40s 2Ct.  :'>i.>5 31.4ris .

Other Operatang and Mamtrnance IEncludeg Ivprecia taon and Capetal Outiayl 2.9N4 4.449 4.131 4178 5.701 Total . 21.It! 26.03 :a> u?. 33.lcl 27.163 Net Operstmg Resenucs . 10.545 15.ord 25.n55 24.731 19.052 Non-Operanng Revenues - - - - -

Total . 10.545 15. ora 25.055 24.731 19.o'.2 NonOperatang Denburwments Debt Serssee on Electric Iknds (Pnneipal and laterest e . - - - - -

Transfers ta uther Fr ds . 9.s ee E.t e n TJu m) Ilfen t afest -%

Total 9.Sie 6.t e st 7.t a = > llidus 14.ts u)

Amount Avadable for other Purs.acs _ $ l_445 $ 9.Wa $ 1 m.0". $13161 $ 5 M2

'~

Bases of Accountmg bl Actrual hi Accrual MII.hrrual Accrual Accrual N

CONDENSED llAI.ANCE SIIEFT

~ t l'naudited- 11 June 3ni 1977 1972 AsnTs Cash and Insentments $44.191 $4'*.CC Other Currert A**ct. 1.691 1.191 land.1%r.t and F.qu ; me-r.: s Net ..! I&preciate.n e t t i 14 2.71 I4 Zia Total Asset.s $+0.10 sia.K2

, IJastuTns asr. Ihr. litm

! Current 12aNiet.c. . $ 1.NC $ 2.671 Customer Isegemts 54ft fia Ilondt PasaMe eleeg term - -

l Total la.Nht.es 2 377 3.Ill l

Fund Equ:t>

liermnmg Fund Dpi% 41.~d *4 57.72=

Amount Asadat !c for t ether 1%r;--- -Curre r.t har 13281 5.052 lacrease tDecreaset for Captal tlatla) - -

Ivprec.4 .n eimie I1.fm's Reserse, - -

Other - -

Ending Fura Duity 57.7 3 6 1.7.11 Total laaNhties .r=1 Fund f.9 rt.s 5.a 16 Sta K2 l

! lll The am..unts f..e lar.d I%r.: mi D iu ;.n r.t o ..n 4tme re; re-ent the acrun.ubram af eis.+t.tiar.4 f..e (n.,8 l asset.= that I.ase t.-en n a.te mer the scars No 4crot.r t:Pr t.4+ totn m. set.- f.*r aa.13 that hase to r. ol.i trade.1 or duardd therefore tr e> hase in n merstated h an it.d. te rmmaNe amour.t 1

l

[

-- -- . - . . _ _ _ _ . - _ _ . , _ _ . ~ _ . _ . _ . _ _.

i f CITY OF CIIERRYVILLE ELECTRIC FUND SUM.%IARY OF Ol'ERATING RESULTS tl*paurited.)* >r ) enre Ended June 30 >

1974 1975 1976 1977 ly;e Operating Resenue.

P. amer Sa'en $ 7t r2,3'.e? $.=973,7 y2 3'ry2.4M Macellaneous

$1 ov. 0'e .

!!Zifs**.2

> ;'t.4 10.174 34 % 2 34 7"4 >49 Total . 71of. /. 905.9:<, 9*.l.It:9 1.lo2 :tr2 l 4 4 g Operatmg Espenoca Pouer Purchawd 452.4.1o f,41.4 = 1 75.W. 7*a.579 W All Other Operatmg and Mainter.ance iEscludeg !% recta taon and Capital Out!ay) . 9'3 474 143.344 IM At3 151.2.*1 97.114 Total 5*,1.w.1 TM 853 a35.Too tar Aits 9 1.3f4 Net o eratsag s Resenues Ire.763 121.127 117.4r9 l'2.92 s 3 2.796 Non Operatmg Rev-nues - -

5 132 7.l > 2 13 2*4 Total . ITs.7Et 121.127 122.ml l's W rs 04c Non Operatmg Itist,vrsernenta.

Del.t Senire on Elvetne Itoe.d*

4 Prmespaland Inteerst:

afe9 5.721 a 912 m s.a Transfers to other Funds m'.e afts 623 = = >  ::3 va= 57 4m l'os Te Tuta! *9.3/it 67.721 32 an esi l!9 IJost An.ount Ava.l.h!c for Ott.cr Pur;. c. $ 0 44't 5 f.1 tui. I t=* ml 3 13.t..*(a 3 I ti. 73 Itasis of Arrour.t.r.g

%!..i Arrru41 M *t Accrual 31.=1 Arrrual Str 1 Arrrul Accral CONDEN8ED IIAI.ANUE SilEET I e l'neudeted- At Jun* 14 e 1977 197*

A ntis Cash and Ins estrner t.$ $ l.L't.276 $ l$.tet e Other Current Asse ts 94.f47 174.14*

I nd. Ihnt ar.d Dpt mer.t e Net of IgrenatenH II l.(a 437 ka5 4?2 Tutal Auct> $!.e>:tZ'J $ 1.165.*.72

. IJaartmas a%te Fhis f.et an Current laaheistes 8 24 717 $ 3:1.T,74 Cu<tomer liege sita 33.71:8 11.71*>

Ik.nd* Payab!c e Is.r g tern.s 1*?. 4 % $72G Totallat. Jet . l>M2 134 & &

( Fur.4 Equity j liegmmme i ur..! Equ:ts h70.447  !*' 8.:6.~e Amount A s adat 1. for Other Purgw.e.-Currrr.t Ve ar 13't.*/a 13i.7 41

! Increase lisecr* a-es ! r Capital Oathy I.n;+r.d. Nee- 1531**a2a -

l 18eprmat p.n -

4 5.49's t Resenes . Iow.515 -

Oti.e r l'Alf.17) I?J.T 828 Erd.ng Fund D3mty %4 X.* 1,tf.~.ly3 8

( Totallaab.l.t.e. 4 -I Fa 4 } .;mt. I1.e*Al.3 11.1 =47.72 4Il Net of des.reciat m for nwal3 ear est d Jar.e :9 IM= or.!y The ms.nt,.ry ..f land.1%nt an.1 D&s rnent m aa c..mnt.~i and reenrde i s.n tt., ta..h at Junc .01. IM= l'rnr in l'#7=. hard aswts mere expensed w h. n purcha e4 C-4 i

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I TOWN OF CORNELIUS ,

El.ECTRIC FUND SUMMAltY OF OPEllATING ItESUI.TS st'neudited-For Years Ended June 30s 1978 1975 19;4 1977 19;n Operating Revenues PowerSales . 3 3 4 =.165 $1v.Ta6 33655 35,y2;4 s.in51 t Miscellaneous , s/>4 613 20;4 1.5.:4 1.525 Total . 14 W.;t t w>.319 Ituyot So;Je ari6 em Operating Espenses Pow 1r Purchased . . . . . . . . .

1(Q.341 137.W. 161754 114.902 215.217 Other Operating and Mainter.ance t Exclud.r.g lei,-rena taan and Capita! OutlayI . ?J.*kA 24,140 :5.tr.'4 3A.74a 39.610 Total. . 15.7o1 161.725 193/ 3 -D6Ko 2'.45 3 Net Operstang Revenues 21.162 27.594 . 45.(r3 G4.h $1.821 Noo4)peratang Revenues.  ? 6*o it.x25 43 1.W 2.tv4 Total . . *. aoNI :r> 419 45.514 6145, 535 3 Non4)peratang Deburwments-Debt Servere on Electrw lionis (Pnnerpal and irteresti . - -

19f.It thAtt IPATJ Transfers to Other funds . 30 47.7 -

51.4 0 6.tu n e .T)f41 Total . .us.4 57 -

71473 24 cl 573Jt Amount Availat.le foriPther Puri.oen 3 act 3 *r> 419 Si219:os $ 4n 5'.0 $f 3.NCI Bass of Account 6ng . %f..i Accru'al %=1 AccrU %!.=1 Arrrual %!$1 i errual %=1 Arrrual l CONDEN8ED llAI.ANCE SilEET l

4 l'naudited- %t June 3ne 19:7 89:=

l l

Assets Cash and lavestment. . 163.tF> 552.79" Other Current Am ta . 31X.2 S.41*,

Land. P' ant ard Equymentil e .

! Total Asseta . s>4.461 54.It2 l

IJastt.rms aso lho E4rrry:

Current laat.shtes . $19.779 $151.104 Customer Derets . ..

13t*, 5.6'f>

Bonds Payat,Ie Ilmng termis2s - -

Totallaabihties . 24.014 Zt..nt l Fund Egmty Begmning Fund F.quity . . . ..... 40.7f.2 70.447 Amount Avadable for Uther Purpres-Current Year . 40.5'34 13.N =4 i Increa.se (Decreanel far Capital Outlay Expend.ture . (10f'J4 (10.212s Depreciataoc . -

Reserses . -

Other . - -

Ending Fund Equity 70.447 si 4 9 Totallaabihtes and Fur.4 Equity s'34.461 $*. rf 113 Hiatorval records have not t<* e. 7. air.ta:n.,f of it.c El rtrw sutem's fased assets. Fixed a .wta ar e eis-nd

,' shen purchased .,

l (2) Bonds psyable as of June 30. . ' = arr.our.ted to f13 >sas an.1 mere net metud.d in this statement C !>

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i TOWN OF DREXEL ELELT' TIC FUND SU.4DIAltY OF OPEltATING ltESPl.TS tl'naadeted-For Year. Ended June 30e 1974 1975 _ 1971 1977 1974 0 1eratang Revenues.

I'ou-erSales . $ lit a).w $194.W4 $,"J5.rct3 $ Et6.Q $.t79.244 Miscellaneous . 2 446 3.012 4.019 2.412 2. 731 Total . 176.res 201.(c7 at's.tro 2'e 052 3M1IJI Ogerating Espen cs:

Power Purchased. Mfts. 133.077 167.178 194.390 224f47 Other Operating ar.d Ma.ntenance iEnclueng Deg recia tiun and Capital Datlayl . 14.749 , 24.214 77.441 34 2~4 34kT2

.otal . . 19",415 157.251 194 rJJ 23 rA4 2"A.419 Net operating Revenues . 69p. o 43KY. 104.413 110.416 ln' .2.'o Non-O;erating Revenues. 623 Ilus 10.315 31/Ji Total . . .

69.0' ) 44.455 115.4 2 13).761 125.7

• NonOgerating Disbursements.

Debt Servsce on Electre Ibnds (Princi, al and Interesti . . 4 h*st 4 6*.m 31.p.1s 3s6 .a A 2ilfe Transfers to Other F.inds . u .ra 31;rA 22.1la 75.7w . 75rs Total 71.2tc 35 'f26 f.'I 'ca 106.7.9t l'exa Amount Arailable for Other Par;.m 5 a2.1171 $ #f 5e $ cly,2 $14 rut 3 25 4.-=>

Rosas of Account ec . M.wl- Actrual Mews Accrual M =1 Accraat Accrua! Accrual l

l CONDENSED I!AIANCE SilEET el*naudsted-4t June 306 1977 1974 ASSET 5 Cash and Insestmenta .

$ fA42~. $ 73XS Other Cur ent Aswts .  !=7 vf2 land Plant and Equ:;, ment iNet of Deprmatmni 4A.ya:t 472 K4 Total Aucts . , $"A 4.!K. 3M7.10 >

IJanntmts AND FYND EQtTrY.

Current Laah.htes . $ 10.3% $ 10.322 l- Customer Depw.s . 9.312 P.M2 l Bonds Payable (Img termt . 225 (s 0 215.sme i

Totalliabditas . 244.7tn $t4.204 Fund Equity Beginning Fund thuity . *AI.911 299.797 Amount Asaniat,lc for other Purl =*cs-Current Year . 14.f u ct 25.4."#

lacrease (Decrea.sel for l Capita! Outlay - -

Depreciatwm

( 21.3*411 (22 T2M Reserves . IM Other . Ist5.ta ejl Igjene .

l Endsng Fund thu,ty 099.777 312. tail Totallub hte and Fund Er,uity . $54Jos $587.Ita*.

CITY OF GASTONIA El.ECTitlC FUND SUMMAltY OF Ol'Elt% TING ltESULTS st*naudised-Far Yeare F.eded June 30s 1978 1975 1976 1977 197N Operatmg Resenues- *,

Power Sales $4.176.5 6 $A.4s2.7e6 510A45r5 511.131.356 $12.5k2.9~4 Mu<ellaneous . 47.132 61.13x 15.420 (Ar45 66.599 Total . 6 2 :1.7tm P.543S24 to(M.795 11.192.021 12.649 349 Operatmg Expenses Power Purchased. 3.953.(49 )

5.32'.204 6.5*4.3r4 7.221.428 8.601.702 Other Operatag and Main.cnance iEscludeg Deprecia tson and Capita' Outlay ) . 71R.943 587J#2 634 r/3 in.suv7 791.692 Total . 4.7(r2f,12 5.916.7 4 7.19:W.9 7.9 4.235 9.333.394 Net Operating Resenues . 1,521.t% 2.6 5.138 2.M9.r2r> 3.254.786 3.2*I.155 23.572 3.046 Se.446 29.702 32.502 16n Operatmg Revenues.

Total . 1 A44 re 163n.14 2.92e%2 3.284.4M 3.':NiE7 Non Operating thsbursenu nts.

Debt Scruce on F:ectrie Hands IPrincipal and lnterest) . 141375 137.2r> 133 015 128.ho') 125.3 4 Transfers ia other Funds . l ..~tn;p4 3.2C.499 161744S 2.m2.7M 2>02.9%

Total . 1.4 n241 3 ant.To- 2.7:m.4 3011.57) 2.5r.>.>2 Amount Asailat.le forihhrr Pur1<.scs . ,f 9.*. 45 5177453 5 177ra. $ $2Je9 $ 3r4.3*5 h Haus of Arrountmg . ..f..l Arrrual Arrrual Accrual Accrual Accrual CONI)ENSEI) Ital.ANCE SIIEET el'nauditedwt June 308 l'

1977 197M Assets:

Cash and Investments 3 bl0E3 $1.021,7PO Other Current Awets . 2733.(*1*, l.Ni2.FA L.and. Plant amt Equtment INet of Iw;.r.riatam e . 54129-1 5 547.435 i Total Aswts . sA.316 v9 se.452.ll2

(

IJassuties aso Ft so Eqtm Current 12abihters . $ 73.593 31.021.476 Custank r Depout.s le'tC 171.19=

Bonds Payabic tiong terms . I P2We 94*Jife Totallaatahties . 2.151.910 1137.674 Fund Eqmt.s l<cgmr.mr Fund Feiu.ty 5.6'c he.~s 6.164.9is Amour.t Asadatde f<irither Parle-Currect Year TiVJ 3rd.375 Increa e itserreases f..e l

CapitalOutlay Contr.t.utem 4')4321 14.4rn l (301f.4p Depreciata.n . ( 320.:'5*> t I Reserves .

Other . 9~.fe 6 95.(vut l

End.nc Fund Dauity 6 l.4 <m 6.314.433 [' ~

Tot.Ilaatahta and Fun <a Eque . $ 316 <:9 sa 4Tc.112

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I TOWN OF GRANITE FALLS EI.ELTitlC FUND SI'3131AltY OF Ol'EltATING llESUI.TS el*nauditebror Years Ended June 30s 1978 1975 1976 1977 1974 i Operatang Retenues l PomerSales . $ 4 ~.~..P41 $ 2i.9.L'f> $426 962 $7ra 213 3A22,413 l heellarwous . >104 7.!4#7 1,.447 4.561, 6 3(a Total . 4Ct.fa47. 577.I'*; (.473.4t7.6 7d M4 629.771s 0;erating Espenw.

Power Purcha cd 261.214 342.019 477. % 4 4A'133 !43.472 Other Ogerating and hr. ten.nre i Enclud.ng lic; reca ten and Capi'.at Outlay ) . 77.787.  %.fm os >(,.N9 98.4 4 IW f.fo Total . h twe 4b r27 au.ra7 f.24 613 610 0*>2 Net Oger4tmg k<senues 1242* 6 139.le'4e l'A.F72 243.161 21m.726 Non O5 ,ratmg P.eser.ucs 't 7 2p.'u 2.475 39'6 Il9 fal Total . 12T,.M1 141.lp9 1*1147 247.137 19 257 Non Ogerating linburwn.cnts

!)ct.t Sersrc on Eiertric ILin.!-

I Princial and Ir.terrst - - - - -

Transfers to Otrer Fun t- 1.'2.se s, rtt i.o lu fnas Irl ox 147.7ra Total . 12?Jes 1.t4 sene 13* f e e 161(n6 147.7(a A n.< unt Avad4t/.c for Oth. r Purge.-es  ! 3?Al $ 7.f r*> $ 1 *. 347 $ 4101 $1!*e 472 Ita n of Arc .unte.g Accral Arcrual Arrr aal Artrual Accrual CONDENSED !!AI.ANCE SIIEET al'naudated-at June 30s 1977 1974 AutTs.

Cash ar.d Insestrnente . $13's.620 8.Mafit)

Other Current Asset > (A.88/> (J.9Ts*

!and. Punt a .a Equtnwnt e Net of le gr ren4tn ee e1: 1250 34.51*,

Total A**cta . $211.9-9 tra'..l'a IJas Lmss ass Ft st Evtm.

Current l_:al.ilitns . $ 41.9186 541:1.e#

Custe.me r I h gn.sita I I .= *n 13.lc l lb.n.h Payal.!c tiemg terrr.6 - -

! Tc,tal tuloilitws . Ta Tra r,4.4c Fund Eipty lleg.nr.mg Fund E.3 nty 69 ft. 15>.T.*J Ar .c.urt Avadable f r Other Puria.w>-E'urrent Yes ' ?6 lfst l'.*J. 4 72 Increaw elwrea 6 fe.r 1 Captal Dutl.sy Co.r.tr.t.utz.n 4.2 #4 -

l 14; renatuen f l.4f2) # 4Z'J e i

Mewrses . - -

O t.cr . -

t a al *.6 l Er..! *.g Furul F/p.ty l'.m.t *p it"> 'U .

To I Iut. ate s an !) ur..i E 9 "q $211.' > s r.n.lsrt .

til 16., _ . rtf..,,..-!a - s ..r,a,..,..st.. _l ,..r,a,.,,. _ l,ai s g

c.

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CITY OF IIIGII POINT ELECTRIC FUND i

SUMMARY

OF OPERATING RESULTS El'neudited-For Yeare Fnded June 30s 1974 1975 1976 1977 1972 Operatang Revenues:

PowerSales . $7Jt7.165 $10J:8.505 313.571.095 $14.316.060 $16.835.330 MmeeDaneoue . . fe.164 116.374 6N4.04 785.155 158.131 Total . . 7p76.33 10.394.k?9 14.259.179 15.101.215 16.993.521 Operating Espenses:

5.209.C 7,1%.971 8.300.062 9.193.156 10,5:'O.590 Power Parehased. . . .

OtJier Operatsng and Mamtenance (Encieng Deprecia taon and Capital outlay) . . 1.253.05#t 1.106.393 1.463.5N 1.630.644 1.7M.317 Total . .. 6.462.953 N.32.364 9.763.589 10.823.600 12.317.907 Net Operatang Revenues . . . . 1.4135t6 2.102.515 4.495.590 4.N7.415 4.675.614 120.451 316.299 426.627 296.HG3 309,960 NonOperatang Revenues.. ..

Total . . . . . . 1.533.F5 2.415.813 4.9Z!.217 4.574Jl8 4.9RS.574 Nonoperates Disbursements.

Debt Servre on Electre Bonds (Pruie: pal and Interestl . 409.460 669.415 718.0'f7 754.694 738.818 Tramaters to Other Funds . - -

1.055.902 1.536.045 2.103.155 Total . . . . 409.460 Ma415 1.7739/J 2.290.739 ZA41.M3 Annount Available for Otist Purposes . $1.124.367 8 1.749.39M $ 3.148.218 3 2.283Sl9 $ 2.143 rol Bases of Accountang . Had Acerval Mod Accrual Mod Accrual Mod-Accrual Mod Accrual CONDENSED HALANCE SIIEET El'neudited-at June 306 -

1977 197a Assris: -

Cash and investmenta . . $ 5.783.631 55.347.774 Other Current Assets . . . 1.502.029 1.004.896 Land. Plant and Equipment (ll . 22.707.695 22.707.695 l 29.0f4.3rd Total Asneta . . . . . 329.993.3'4 IJaartJ71 J AND F1 ND Eerriv; Current liabihties . . . . 8 671.R>0 3 619.661 Customer Deposita . 105.150 141.944 Bonds Payable Ilong term) . . 8.220.000 7.Af.*,.000 Totalliabihtes . . R.997.030 8.616NG

! Fund Equity Beginnmg Fund Equity . .

. $16.454.640 $20.996.325 Amount Available for Other Purin -s-Current Year . . 2.283.539 2.143.601 Increase (Decreasel for Capita! Outlay Espenditure . (2.581.906) (1.122.972)

Depreciation . . .

Reserves . 4.495.052 (1.918.3941 Other . . . .... . . 345.000 345.000 Endmg Fund Equity . 20.996.325 2044354 Totallaabihtees and Fund Equity. 329.993.355 529.004.365 (1) The amount for land Plant and Equipment sho n atme represents the accumulaten of expenditures for fined.

maneta that have been made over the years Na accounting has been made for assets that have been sold, traded or discarded, therefore they have been overstated by an indetermmable ame unt.

C9

.mr e----- ..- - .s--,--.-..%..,,-,.p_,, , _ , ,, ,. ,_ __ _, _ _ , , _,, ____ _

k TOWN OF IIUNTERSVILLE El.ELTHIC Fl'NI) g Sl3131AltY OF OPEllATING ltESl'I,TS f!'neudi' J Veer Veere F:nded lune 30 M i t 1974 1977 1978 Ogerating Revenues-PowerSales . W 979 $rr7/Gt $4 45.f= 4 Miscel:ancous . 2.2'l* 2.249 2.D r7 Total . 3.<l2 6 4 r.#.w3 447.713 Operating Espenses-Po.er Purchased. 251.n3c  ::x3.75. 326.4c!

Other Operaung and Mamterance (Earludir.g Ivg<rma*,.n and Capital Out lay) .

44.Ct7 M.546 43.N72 Total . W5.673

. 3:9#1 370.335 Net Operaung Revenues .

87.5I8 9.'Ir2 77.378 NorrOperaung Resenues -

2.0',9 2.712 2.5!s Total . .

>9.f 92 Non4)seritung Dshursementa-

- 72.784 79.> .

Debt Service on Electre lion.fi (Pnncipal and InterestI . - - -

Transfers to Other Funds 6.7:ia r.1 179 M.7.~4 '

Total .

6.794 61.179 M.7.*o Amount Availat.!c for Other I%rs. es . 5 >2.794 3 3!.525 $ 8 M.>".4 6 hmes of Accounting .

hl A.crual M 1 Arrrual \fod Accru..1 CONDENSED IIAI.ANCE SIIEr:T al'naudered-at June .1nt f 1977 197m Aswis; I Cash and in cstrents . $ 65.0~.2 8 's't.39:8 OtterCurrent Aucts 4 8#F) 41.M 1.and. Plant and 14 pn eht(2) . - -

Tota! As. sets . SIsre eel fia4R*:1 IJatit.ff1ES aND fhD EQtTTT Current 12atnhtaes 3 2.!'e= $ 3.315 Custa ner Derwta . 15. le.", 16.4 3 Bonds Payable Iter.g tern e . - -

l Totaliaal4.t cs . 17.3rrt 19.7Kt l Fund Equity Begmnmg Fund Fm.t> . 77.;>r. 92X.m Amour.t Avasf ah!e for Other Pur}.m-t's.r'e'.t har . 31. ~.2.~. 4 M.k "4 )

Increase libeereawD for CapatalOutlay Essenditure (tr 4~.o =.574 p g Drprecuten Reserves - -

Other . - -

i

! Ending Fund Fcity .

• _r.2. 0 7 s.9:to l Totallaatahues nrd Fund Equey  !!srey.1 *'

_{'e tytt l

' (1) The Electre System m as r..er. tuned w itP. t te Ger. 2 ) urA "J. ra's.r.. f.or it'e f ral ge ars e ed.4.f ur., an.197 3 and 1975. INe to the rnrr.tr.ce.f 3-re nt en.r.s re -al.e ..f ? .ar rui ..$. ratu.n f..r tr.e Fl.itn e .*> cer f..r the t wa years cannot be determined from the informaty.n pr n:d.-t 7' . -

(2) Ifisteneal rere.rds haec wt f.en mair.tered ref tre L;-ctre 8 tem 3

• n fined asset.s C.10 t

L l

t _ _

I l

f L

l TOWN OF LANDIS El.ELTRIC FUND

SUMMARY

OF OPERATING HFSCl.TS II*nsudsted-f..e ) ears Faded June 30s 1974 897 e 1974 1977  !?In Opersurg Revenues. fG W 5412.717 5%t2.4'C 5+42Jiai 5743 !***.

Power Sales . YI.44 Macellaneous . .

4 h1 0141 M A'h 3)SA ,

417.'#10 !J3.l* Cl.I't2 774 4+o 9 4.132 Total . . . . .

Operaung Expenses: cal,321 31.IN4 'r>7.26 49:t.4r4 f.41.173 Power Purchased.. .

Other Operaung and Maintenance (Esclad.ng lar prwia 34.kx3 46 169 43 8Y 101.015 152XA uon and CapitalOutlay) . .

316JC1 443J59 f.17.162 r.4G.214 793 671 Total . . ..

lot.Nr3 9* 421 1:rU*a 1 3.246 193.461 Net Operaung Revenues . .. .. .

3Mee 22384 10.749 15.1514 Non-Operaung Revenues. 2CJM 1%.*M lanffas  ;'im.619 Total . . .

12M.rcl 1%Is)

Non Operaung Dnburwmenta- -

Debt Serrore on Electne lionds - - - C7.F.'O (Pnnopal and lateretl -

2*. 4 At I Af su 19 .*n e 415 ties 71.4 5 .

Transfers to Other funds .

12iljuus IUdde 41". f a n t 71.4$ 92fA3 Total .

$ p.651 31*e;. Ate 4 $2>.1%I $ C24te $116.116 Amount Awa41able for Other 1%rtenes Accrual Arrrual Accrual Accrual llosts of Account 4r.g . Accruf CONDENSED llAI.ANCE SiiEET el'neudited-at June 3ns 1977 1972 AsstTs:

$ 2473m.~. 8 362.n .*

Cash and investments .

70.1G4 77,Uh Other Current Aswts .

> 143.~# 773 77*.

Land. Plant and Equipenent i Net of 14pw.atme 51 2138755 Total Asseta . Q.1:r2 Tic IJaBit.IT!FS aND FtND EQUffY 3 c ,012 3 75.>25 Current Is%Istes .

Custo ner Deposits . 631n 9.14.

r/GJso s ofsee Bonds Payab:e along-term p .

Totallabd.tws . 70sfr2 77 43e I Fund Equity

ct*.,1.w 3rtt3.

Begir. nog Fund Equo . u Amourit Aradable for Other l'urse -dirres.t Year . C ~es  !!G.!!6 incriaw IDeereawl far Tiasjeni -

Capital 04av C, ntnbute.n .

I 25.51:t e e 46. seas Iwprecsaten . -

iteserses.

s 711.ll'< s 25 se er Other.

Ending Fund Equity . 3.2.v . 4. sof Total tubatn ar.d I ural Eque 31.la23.C s! >l:tn:t a.

C-1.

- t 's i

CITY OF LEXINGTON ELELTit!C FUND I' SUMMAltY OF OPEltATING ItESUI.TS fl'neudeted-for l eere Ended Juce 306 1974 1975 19M 1977 1978 Olerating P.evenues:

, PowerSales - 84.622.910 86.288.179 $7.791.347 8x.f42.7 4 83.747.1 4 Mmeellaneous . . . 67.349 b5A4 124.3<l C Sm6 117.6 4 Total . . 4 6'.m).259 6.374 (Lt5 7.915.730 14.730 116 9.44.R36 Operating Expenws- ~

Power Purthasd . .

2.944.K> 4.127.6eo 4 >>&.961 5.407.277 6.34).923 Other Operatang and Mameenance iExcluding Deprecia-tion and Cap.ta! Outlay) . Mt.0T.I 1.15F.617 1.fM.hS7 1.245.405 1.2N4.012 Total . .

3.45.47 5. M 237 5.9 4.M4 C.652.f#2 7.637.933 Net Operatang Revenues . M I,392 1.087,734 1.934N : 2Vl7,6M 2.2:'6.903 Non Operating Revenue =.

33.:>6 6.086  :'85.4r4 2KT779 351 542 Total . . . F77.ca 1 ltt324 2.36A433 . 2.5 3.445

'.Z'O.3_4t s Nonolerating Desbursements:

Debt Service on Fleetne llands (Princips.l and Interest) . 35lt.)5 100.!et 9*.790 919M 95.l!*)

Transfers to Ott.cr t'unda . -

395.krt -

1.7NI.14 1.RF2.v9 Total . . 3 ,.s . 4 %.397 9.d 7:sti 1

• S.178 1.9 4.079 j Amount Available fer Other Purposes . $ N2.3m" $ 6?7,417 f 2.121.5 4 5 487.2".5 00lN4 Ha is of Accounting .

Stud Accrual M =1 Ac-rual Mad Accrual Mod Accrual Arcrual g

t CONDENSED IIALANrE SilEET l ,

' f dl*naudited-at June 306 t

1977 1972

" Assets $

Cash and lasestmenta . 32 534.fdr! 5 3.922X4 Other Current Assets . 1.1.5.< C7 1.6?4.459 land. Piar.t and Equipment iNet ef 1vpremt n a G 6 - 6.73753 i Total Aswta . 51taat.574 312.243M i

IJaa!!J71PS a%D Ft ND EQt'In.

l Currer.t Lab.l.tws . 3.1.119.1C

. . . $ 3.941.3~5 L/ Customer lhelmit . I 46.0;f9 155.3)4 l/-T flonds Pay abie (long term) -

1.3'4) Di e

/ Totallubilites . 3 WA'J 6 5.446 579

{. Fur.1 Epty 14 ganmg Fund Equity . $ F.95Xe $ 695 7A

/ k.>.nt Asadable for Other l'urtmes. #urrent Year . 4*7.255 00174 l Increase ilNercasel for i

.

• CapitalOutlay Entenditure . 18<7.2*43 -

I% preciatw n .

^ -

(294.1 W I'eserves.

1 4 .252)

Other . -

5FAM83(ll 1.r. irs Fund Eqmty . 6%Xe _ 6.M3 Cie.t Tctalliabilities a .d Fund E.auity . $3 M tL74 512/MZM i.

/

(t) Reprewnt.s m part an stustment resultme from rec .g The insentory of Ened assets mas camp;eted and rec..ded en the t nas at June :u.197m.1.r

• land.1%nt and F.qmpment a 1

C It f

(

e t

CITY OF LINCOLNTON ELECTRIC FUND

SUMMARY

OF OPERATING RESULTS al'naudited-for Years Er.ded June Sol 1978 1975 1975 1977 !978 Operating Revenues:

$596,814 $900.845 $1.212.707 $1.140.903 $1.306.342 Power Sales . . .

7.540 4 259 19.(40 19.554 Miscellaneous . . . . 4.991 701.f05 908.385 1.216.9f4 1.160.512 1.325.P96 Total . . .. .

Operating Espenses:

429.573 574 t@4 674.9:4 717.601 912.573 Pow er Purchased . . . . . . . .......... .....

Other Operatang and Maintenance (Emeludmg Deprecia. 214.957 144.426 125.520 120.462 139.376 ties and Capital Outlay) . ..

573.999 700.3:si 795.412 te4.977 1.177.530 Total . . .. .. . . . .. .

IM.R06 208.0*,7 421.5',4 360.535 198.366 Net Operating Revenues . ..

12.215 23.185 12.111 10.392 s.301 NonOperating itevenues.. . . .

140.021 231.242 a rt.ft.5 313.977 203.667 Total . . ... . . . .. . . ..

Non-Operating Disbursernents:

Debt Service on Electric Bonds - -

(Principal and tnterest) . . 5.2::5 5.113 -

165. boa E9.3.=7 496.625 512A33 213.3no Transfers to Other Funds . .

171.028 2541m 496.625 512.E33 213.300 Total .. . . . .

Amount Available for Other Purposes . . $(31.007) $(53.2.VI $ 462.W) $ (199%) $ (8.6:u3 Basisof Accounting . . . . Ld Accrual Mod-Accrual Ed-A:crual hi-Accrual Mod Accrual O CONDENSED HALANCE SilEET (l'neudited-at June 309 1977 1978 Assrfs:

Cch and Investments . .. . . $ 26.431 8 114.500 123.3 % 107,303 Othr Current Assets . ... 864 242 t*9.526 b r. Plant and Equipmentill ..

btal Assets . . . . $1.014.111 $1.111.3:.9 UAaIUTIES AND Ft so Egerty:

Current Liabilitws . $ - 8 79.079 Customer Deposits . . 171.316 19.754 Bonds Payable tieng-termi .

IR.2r4 99 Nf3 Totalliabilities .

Fund Equity Beginning Fund Equity .... . .. ...... .... 1.160.596 995.k45 Amount Asastable for Other Purposes-Current Year . (!W.906) (6.6333 Increase (Decreasel for Capital Outlay Centribution . - 25.2N Depreciation .

Reserves . . 34.155 -

Other . -

Ending Fund Equity . . 9%.45 1.012.496 Total Datnlities and Fur.d Equity . $1.014.111 $1.111.329 y ,

(1) Th* amouns for land. Plant and Equipment shown above repre*ents the accunulaton of expenditures for nied assets that have been made over the 3rars. No accountmg has te.n made for awets that hase teen sold, traded or discarded. therefore they base teen userstated by an indetermmable amount. Nu depreciaten has teen recorded.

C.13 s

• i 1

i l

i i

TOWN OF MAIDEN El.ECritlC FUND SUM.11AltY OF OPEllATING ltESULTS tl*naudited-f.>r Yeare Ended June 346 1978 1975 1974 1977 197p Operatmi Revenues Puner Sales . S'M.N75 $7ds.>67 $No.Co $<al.3s3 $s46.7;G Macellaneous . 33t1 ko 3.752 :Jiin _ l.02x Total . 570.3 WI 7tw.947 _M I.402 >%3'O N7.304 Ol erating Eatenws:

Pom er Purchased . 4 3.110 ld r2.077 (O'I.07sl 591.792 (44.9 3

', Other Operatmg arwl mintenance iEacluding Deprecia-ten and Capital Outlay 3. .T2.3tt! 30.3m (7.310 92.2nl M.9k2 Total . . . 4.*:9 413 LT!t>5 Co.:t* F41.7.4 693.911 Net Ogerating R-senues . Ilu 7'XI 174.(42 174.nl4 171 244 153.333 NonOperating Revenue s . 4.410 15.lT4 17.335 19.191 30.M.t5 Total . 115.2n3 191 >In 191Ja9 . Iv9.res tx4fts Non Operatmg Daour.evreets Debt Servre on Electre lionds (Pnner a!and Interesu - - - - -

Transfers to Other Funds . 743=4s 10.3 3 121.C5 158124 -

Total . 741Wo 10.3 3 121.C5 IT4124 -

Amount Asadable for Other Purt.ncs . # 41.3tl f iel.4+9 $ 69.C4 8 3~ 461 81n4.7.>l Basm of Accountmg . Accrual Accrual Accrual Acerual , Acc val CONDENSED IIAI.ANCE SilEFT tl*naudited-at June 30s 1977 197m AsstTs-Cuh and insestment. . sml.444 344n.99 Other Current Assets . 73.ra7 4s,tre land. Plant and Equipment (Net of Ivr reciatumi . 75!.9% 30 I.34a Total Assets . grJan46 t'al.4 4 IJanumts aNo Ft so retm:

Current babihties 5 k >M4 s m.145 CustomerIneposits . la.0 o 19.wa Bonds Payable iteng term) . - -

Total babihtes . 103.931 50.01 a Fund Equity Bermnmg Fund Equity . 531.152 549.trl Amount Available for Other Purtees-Current Mr . 35.4r,1 IN.23

' lacrease 8Decreawl for Capital Outlay - -

Depreciation . ( 1 7.4'10 ) I19NII Reserscs . - -

Other . - -

Endmg Fund Equity . St9.1:I 713.470 Total babihties and Fund Equity. stal.04G s 9's.44 C 14 l

5

• 'e.o CITY OF MONROE

/

~

ELECTRIC FUND

-(w SDDIARY OF Ol'ERATING RESULTS tl'naudited-far Yeare Ended June 30s 1975 1976 1977 1974 1978 Operating Revenues: $5.fd77.5 ell 34.5b6.tG

$3.*J">1)+6 $4 632.010 $*s.136.0%

PowerSales .. .

3 rl4 49.07 > 92.147 10rL*vG 135.ta=6 Mmeellaneous . .

444624 5.tv.3"4 5.700.04 = 6 6*9.310 Total. . . .. . . 3.55.N 2 Operating Expenses: 4.220.524 4.4 7.701 2.475.975 3.181.322 3.7 s .767 Pe=er Purchased. .. .

Other Operating and Maintenance (EncNding th precia- 4e9.>;

3cr!.919 243.393 2*J.oN1 629.423 tion and Capital outlay s .

3.424315 3.9'J1.1G0 4.4 9.947 5.336.9e 23n3.h94 Total .. . . . . . . . . . .

743.978 1.213.109 1.194.524 910.101 1 E* rav Net Operating Revenues . .

- 63r6 49* 201 - 94.4 0 Non-Operating Revenues. ... . .

1.217.r97 1.fe9325 910.101 1.446.791 7419~8 Total .. . . . . .. . . . .. . .

Non-Operating Dabursements:

- De44 Service on Electric Bonds - - - -

IPrincipal and interesti . 7ts lie 191.*t34 *Jo.677 674 579 _ 641.257 Transfers to Other Funds . 731.4r0

20 =77 674.579 641.237 191334 Tc.tal.. . .

3 Ms73r20 31,015.146 $ 26d 44 3 723 291 Arnount Available forOther Purlwes . 3 552.r.44 Accrual Accrual Accrual

i. Basisof Accountang . . hl Accrual Accrual k.

I CONDENSED HALANCE SHEET I

It'neudisedwa June 30s 1977 1979 I

Assers: $ 604.9n6

$ 237.287 CashandInvestments . M9A'=

M17J19 Other Current Assets . 2.M*f31 land. Plant and Equiptr.ent iNet of Deprecntwr.t . 2.6s 34

$3J13 W $4 322325 Total Asseta .

IJaSttJTIES AND ftND EQtT'ir PA76 8 40 rid 5

Current laabilities . 87 fr2m 101J>3 Customer Depouts . - -

Bonds Payable alorg terme .

95.% 4 142 489 Totalliat.ilities .

Fund Equity 3.494 249 3.017.4*4 Beginning Fur.d Equit>

5.a.M 4 731.JJI Amount Available for Otter Purtees-Current Ye at .

Increase (Decrease 6 for - -

Capital Outlay 1145A17s el W 571s Depreciatsun . - -

Reserves . - -

Other ,

3 C17.4*/. 4 lan.56 Endmg Fund Equity .

$.lfl32m $4 :s22;25 Totallaabilites ar.d Fund F+nty .

\

s\/

i gg

I CITY 05' MORGANTON El.ECTHIC Ft:ND Sl:3131ARY OF Ol'EllATING REST'I.TS ll'neudsted-for Yeare Ended June 30s 1978 1975 1976 1977 19:* l s Ot erating Revenues PumerSales . $2.!Jr2.:52 $3.570.724 $4.414.576 $4216.07 Escellaneous 58.925 4 4##. 44;t>9 21.215 Total . , 2 5x7.207 3.6lf.25 4.47.W 4595.r2 Ogerating }.stenses Pam er i .inluwd . .. ... 1.970.!!9 2. fit 6.Neo 3.u'I2.9'4 2N::.674

,- Other Useratmg atd Maintenance t Escludmg !)cprreu-

17) twn and Cagel Outlay i . 519..Y61 516 e;t.t fos.417 .T24.367 Total . 2.4s9.710 3.tCt.s&t 3.212.n41

]t.f.tu.373 Net Operating Resenues . . . 97.4'.C 562. t2 >6. ifs 2 1.047.951 Non Operating Resenucs. 3At3 2.53; 2.159 4.nt?

Tntal . lot.*tt2 f44.7'e ,*,741 2 2Adme E' Non Operatmg Did ursemer.ta Ine t.t Servare on Electnr it.inds IPnnripal and Intere3:i . 11.'91 1.24* - -

Transfers to other Funds . 3~.I.139 3'6N= 4tG.itix fdio.Cs Total . 352.4:"J 401,lM 49.19.m -

Am..unt Aianlah!e fer Oti.er Purte $ 1251.tr>7) $ Ist652 $ 371.#t13 $ TG12m llam f Accour'mc Accrual Acerual Accrual Arrrual ~

CONDENSED IIAI.ANCE SiiEET st'naudsted-at June 30s 1977 197 s. l e Assets Cash and insestrrients . $1.0MR.fe Other rurrent A wta . . . ... .... 473.9:10 land. P' ant and Fquipment e Net of Incpn rsatmn H2a

. 2.222.2'.9 Total Aswta S.I.784 777 --

IJanttJTirs a%te this Eqt tri Current tub.hties $ 3:G.ltr2 Custnmer llega.uts , M.411 Ronds l'ayable tis.ng-terrn) -

To'ai la!.ilitwo 't=6fda Fund Equity liegmmmg Fund Equity .... 2.94mel*,

Amount Arai!al.le fori#9.er Purge.wp-t' urn nt Year , 5512n Inenaw stierreawl for Captalo.itta.s - -

liepreciatw>n 113).:>7)

Reserses . -

Other . (17.694)

Endmg Fund Equity .. 3.:0 8.17 TotallmNhters and Fun.1 Equity. 3 4.7^4.777 fIl Not availabic E23 Th. amount for land. I" ant and Equq.n.ent siw.mn at .vc represen's the results of the inventory taken m Iti;6 and is based open hrstancal cost and appraised salues. liepreciatman has la en recorded C lG

i a

v i

CITY OF NEWTON

,A El ECTRIC FUND e )

L.)

Sf313tARY OF Ol'EHATING HESrl.TS el'neudete d-f. e Year 5:nded June .10e 1974 1975 1976 1977 197m Operating kesenues Power Sales . f'e.=

• e.

$1. INS 815 $l (s43sas $1.777.44.1 $1.9?2fe n Escel:ancuus . C+ ;*;7 17.*a rs 19.C5 19.449 27.617 Total . 1.059 g I ;91.724 15,25.975 1.7% w.r2 1.9'c.25 Operatans Espenses  ;-

Power Purchawd T4~.51 m 784f49 94?.952 3.031f.31 1.317/dl Otkr Operatang and Ma.nterance t Esclud.r.g lar prera .

taon anJ Capital outfay s . 145 0$ 194NJ 195 657 2'.'9.t>9 247.2*e Total . 712 544 9*9.516 1.lan rde 1.a'a.73) 1.454. 0 4 Net Ogerating Reven es 347.329  :'J.!.3* 4m7.3f4 536.172 4EW.

Non-Operating Revenaes . -

5.415 M.9mo 21.t*/> 23.457 Total . 347.3 3  ?.MJ.:l3 4v. 34r. r47.::71 slo.cl Non Operating thsburwrne r.ts Debt Servare on Elcetr< Ik.nds IPrincipal and Interest s 30.4 4 34.7C. It.780 TJ.W 26.974 Transfers to Other Fu:.d* 114 f se .T3352 12's.314 23.21.5 4'81.TH.

Total . la tyd 74.517 16316 312 emo Im.fa G Arnount Avadable for Other Par;.m . Jrf..'C9 $ 111.1W _$ 3Al%2 $ 245.191 _fl0]!=

'[r G'

Basts of Accountmg . Mel Accrsal Wi Accrual Accrual Accrual Accrual CONDENSED IIAI.ANCE SIIEET s t'naudited-at June .1s t 1977 197m Assi'fs-Cash and Insestmeeta $ 422f35 5 347.tr71 Other Current A**ets . 2*.4 Sl9  :*.*J.735 Land. Plant and FAs-trnent INet of I act-rma't.n o h*4.ll3 9.14 445 Total Aswta $ 1.f.t14 *7 $1.%4 3 mi IJ A9t!JTIFS a%fs h3n Eat rn Current laabd;tes $ 142.916 $ 173.%D Customer Depmts 42 C3 4'i.8L*.9 Bonds Pasat,lc eImrg termt IC. (s e6 145.8888 Total Lab.ht.es - 3's. +9 364 'e.m Fund Equity ikgianing Fu .4 Eqmty 9 o.itu 1.1 <2.=.m Arnaunt Awas;at. f..ri8ther 1%r;. c.-*%rrent br 24* 191 lu.31*

Increaw elicerr.o, for rapital eruh - -

lies recats.r. f e.i.cl3 174.m= p Rescem - - ,

Other .  ::". 8 s s e 3ssass Fndarig Fund bpt,s 1.1 *2p'm I.l:0.3 s=

Total 124bC.tes an.1 ) urd F ,a.ts . .,... $11.rt.4 7 $1.:st 3=;

e s a cn .

9

TOWN OF PINEVILLE a EI.ECTRIC Fr.ND W 1 SU3131ARY OF Ol'ERATI.NG RESITI.TS )

e l'naudited.-for ) eer. Ended June 30.

1978 1971 1976 1977 197 ma l s i operatar.g Resenues Po.er sales sm e.u sye w SEG O 8.N; r.47 1

M ace!'.ancoas  ! re;  :.!St

. I t. .: (u i Totat zwi s y ;o)19 1 3<ro

_ 64 t 5  :

Operatar's Earn c.

, Pomer Purchased  !!.! T 4 . 213 st*.I 046 **4 54X.4 Other 0,vratsrg and hertenance e be w-trg 14: recw i tan and Capetal Outlay e , *: 241 705t;t 79v7 1914 as Total t 4 *.- 1 11.#5 .T%.t ! .wN Net Operat.ng Resenues . 1.3= 1 3r. 4e44  ;'n tie'.

Non Operatang P.esenues - - - -

Total .

! d_ _- . 1 xc. .

Sie 4 *4  ;'n. 4'c

., Non Ogeratang Ips t,urwment.

Debt Serure on Dectric lbnd, i Prmcipal am! Interest e - - - -

Transfers to Ottier Fund- J. t w 4e... 7.... -

Total .i... 4.... a....

Amaunt Aswlalde f..r other Parj=e. $ e.i !!.'. $ 14 IG $I44 i 3e4 Ila :3..f Accouenry ' M -1 A, . r.4! St. f Ara raa! St.-i Accrn: St. i Accru.nl The Town of I'meville's Util:t3 Fund i< a c.imt.mation of two enterpn. es-a Water and Sewer System and an Electric System. Due to the comt.med pre +entation, the Electric System's Italance Sheet cannot be determined from ti.e ir.f..rmatie n [ ri.u.ini.

Ill Nat asadatac ,

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CITY OF SHELBY El.ECTitlC Fl:ND St3DI AltY OF Ol'EltATING ltESt:1.TS tt'nnufered for ) ears Fnded June 34.4 I 1977 1975 Operatmg Reser.u.s

$4 32.".. ras $4 7,4 euse Power.%!cs .

14213 y fr24 Miscellaneous .

Total . 4 Icefact 4 ntG sr24 Ogeratmg Ey.cn c*'

Power Purchased 2.=.o 96 3.24% tie Other Operatmg ar.4 M2 ntenar.cc iEsclu. fee ly reriata r. and Capt ! Out layi 2Ms.lir, 325 tat Total . .s.324 613 a.?.7 : r.to l

Net Operatmg Resenun 1 14.m 1:455.514 f 13:au i Non Operatang Revenues 3.1:t2 Total . 1:16fr22 124 <h NoaOperateg Disbur-e cer:ta Debt Sersice on E'.cctne it..nd. -

1Prmeipal and Interest Transfers to other Funds . Sr.1.917 1:45_ tan

% 1.917 12r. . ,

Total -

imount Asaitable for Other Pur; ,-es 5 t'".4.145 $ 3m% ,,

[

Hasse of Acenunting Actrual Arrrual CONDENSED llAI.ANCE SilEET al*naudited-nt June .Po

' 1977 1975 Assrfs' Cad and insestme r.ts 3 5%tf*i3 $ 604.T.75 Otl.crCurrent Asset > 774.ft.7 C6.775 Land. Plant and Equipment INet of ik precatams _2.fuoxy 2dec 4%

Total Assets $3.37d.1 N $.I.3m aer.

IJABitmLS ANi> FtTI, Ferrn Current 124bdites 3 259.tec 3 5.7.im Custarrer lieposite IKt.944 111NA Ilands Pay able iIs.ng term e Total I.e4bihtws - :DitK.I 379a;3' Fund Equity llegmnmg Fur.d Equit.s $2.4s.' u". 3:t 015v>

Amount Available for Other Purg ae s-t %rrerit Year G4.1't. 3 =7h increase (Isecreaset for CapitalOutlay tintr.butam 333r35 55 3'e7 Depreciat rm (Im .vt) (tr.5y;6:

Rewrves Other .

Endmg Fund Equity 3 OI5.te9 2.> 94 TotalInb.htws and Fur.4 Equaty sa.375.1to f;t/.>> ** =;

Iti The L tdity Fund comtuned ihe averat..r.. r.f for er.ters.nses a Wa'er System. Semer Syit. m. Elertne 83 stem a'nd Gas Svstems in the nscal years ended June :10. If 4 tt r..ach 13% Peca ase e.f tr.c combmed praersta..n. tre resulta af finatesal oserat'ams of the Electree System for the t*.ree 3 car. caret le 4-termmed from the mf..rm.ati m pre.vad C-l'3

• %. k j

- , ,n, - . - - , - - - - - - - - - - , , - - , .-c- . . - . - - - - - - . . - - , - - , - . ,-.,-..--,,.-------n,.---,, . . , - - - -

i i

n L

5-l CITY OF STATESVILLE ELELTitlC FUND

SUMMARY

OF Ol'ERATING RESL'I.TS _

si'nnude'ed4.r ) ears Ended June 308 1974 1975 1973 1977 197m Operttmg Ibenues Power Sales .

3 4 47a* T41 $5.3~6 674 $6.3xt i+s.1 "

$6.592.320 $7/es=510 Miscellaneous . r>.:rrt 25 431 '.**ar *.# 21.3i0

> 74w Total. _4.Tej.TG8 5 4*r2.lfa 6.243C4 6.613.520

_7.Afi re 0 3erttang Expenses-Power Purchased . 17t;7.316 3.41>.h'. 4.tLLI.76'; 4.43).357 5.2tr>.136 Other Opera?.ng and Stamtenarre t Encladmg lieprec.a t* a id Capital outlayi 4's;clo tra.55 44:f315 541.117 521 :st.

Total . 3.< 2.510 4 476.N 4.ws474

_3.2.:t .r26 5.7.10 7.e2 Net Operatang Revenues . l.:>5f.>  !.52;f. a 1,747 pat I.Etl.n86 1.ta si356 Non Ogerat4rg Revenues. II.14o 242 ?ar2 t *4.543 21n939 r4 .70

- Total . . 1.2'*;fn= 1.772.157 I.93tf4M 1.N3.9*5 2.1331Y, Non Operat2cg Distiussernents.

Det.t Servare on E1cetre f4.rafi IPrincipal and Interesti . 121 N 1213?e  ! ! *.331 105.5 5 97.4's Trarmfers to Other Funds . 1,1:tuJsa 1/ry.97u !fnGJaG  ! ea7.rsio I.:fnlJ16 Total . , tc54 975 1.34 32 1.15.35 t wrz.>Tu 1.3 c :7i Arnount Avaital>ic for other l'uriese* . $ 41Jst $ 42.t 4?> $ NW 3sG $ 41.130 $ ~321*G _

llam of Arre.unt:ng . M. ! 4.vru.nl .\l..! Arrru41 5fml Accrual afi l Arrrual 5fai Arsreal

=

CONDENSED IIAI.ANCE SIIEET si'nnudeted-at June 30s 1977 197M A s.4TS Cash and Investments $1/ste)14 $1.444.020 0 her Current Anets Il.'tr2. lot 1.52.f4'6 land. Plant and Eq aipe.cr.ti16 3.4 <l.1 =7 3fio.9I4 Total A>>cta . $53 tis.luf $6 43e.4ro -

-w +-

• IJAB:IJTUJ AND Ft'ND Eytm Current I.aat.slities . $ onfa3 $ #'.16.Ntl Custarr.cr Dc;nsh 9;f t .

%c Et2 tionds Payable IInv terr .e . trS 4.n sa asu Total laatoltsrs 1.67 %.3 *d; 1 .-f.:e=.415

~

m Fund Equits liepnnog Fur.d Egmty 3.919fM. 4 fr$346 Amount A vailab!e fur Ott.cr 1%rinnes-- 4';rr.4 t )r4r 41.1. ire tr2.1Ta l Increase IDecrea ce f..e ,

l Capat.nl Outla.s Cae.tributa..r. 4.143 ' T Ileprecut.on - -

Reserses - - R- .

Oth?r . #ais se enJa us _

Endmg fund Equity 43r5J46 4p;2.fil5 g

TotalI,ubitees and t a..d Equity $5.Tus lerf $e;. 4. 3i.sie 2

(1) The arnount of I.and Plant and Eqqrr.er'. show n aim n t.amt uga.r. as i rarel s alues tlc t'ity t.a* rat mamt.une.1 -

i adequate fiant asseta records ar.d two 6g recutwm has s.+n 3.r.es sleet e.n tree awet.s ce, l

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I Statement of Income Duke Power Company 1977 2

'++ .- .t 4d it 18 0 *d

. . 51, W <s'.

i4 f.' n ? ti c- .t i a

, ., *. * - . 1:4'66,74 i c, , ,- *. . . 61M74 4 * * *

., *. t*,. . 114447.1 f 's. a.

• t

• tee. 9-) .4 P 8

,t.. . i-i :

_1.11. 67.

.+. _ _1,0.{73 W4 .

• i . 2.'4 tL%

op.- , c. - .

/, .. r' * * * . .* *

/ . . c ' .s *, . . ... .* . .

• 62411

- . + H JM t r, i'- . .e ,

si,n -

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i .- . 'Q;%

. .- . 3.% ti.i t

....i:

1 bl' 4' , .

eiaJ>

-.' : 3ta.: -

• .. - . . .134. tr6.! .

• .F i .' . *

• I T 34'.*

. .. . < . . . . . . 3ts 87'J l *. t",- , 5 ( .a :

• e, i .153 4IU l ..

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y statement or source or t-unas -

uM Q j For Plant Construction Costs Duke Power Company '

l n,s- .: ve n , w ST rx.m .mm :s 1977 1976 FUNDS FRO'.1 OFE4AI CI.S

%t ecome S192 349 i 1 ~ ~4 70 i En t..rG ?O-"S Dep-(cts

• on re " .. es Lei .i- vt .w o 134 048 119 dar.

D</e rec nn- m.. ' s.. s ar :; -o . . s - ** . iro;t ret Of rmrt /,s*i.c 85 347 tu/ 0?9 Et: :/ co-we tee?"w a'o.wre w t res u e:

car ng coa <nr1 cn xer"nw ... .ts c ry

.cn 1976; (62 441) f 29 70?)

l C*rv$ re (4 766) 21251 l

Ft,r cs trc~' emre ors S 344 537 5266405 Dvcencs ca d (142 290) . ,12?_8.'3, Funds reta c.4 :n tru tusriv 202 247 245 ',H2 FUNOS FRO?.! Ft';ANC:NG* :ETPFG EECS Lcoc *erm cett 124 05G  ??S 136 Common s'oc,

• 129.768 N 423 Pre'er'u! s!co 99 874 tecreawic.-7ersw + v s:us.sve! o suct on 148095

. 59 04.'

na em: c' ec m c. t (79 646) mW Fteds **e , t rv .rq 472 147 _'.,; H:

( IC'.1 3./1 a- -e f.. a 624 394 yi' 1C6

'.'iOtuf;G CAP:TAL i-iI;U;i.f.f.TN! *6 i:AQ:

• F.F Cr.r A r [

'.*d'e< es ; cd ' .. : .

(22 739) 11 943 in .e,? me:n 3 aaq .r:.c,s :n < +

.+ 53S? i3 41:

G r a s re- a & *s (16 81/2 {10 13.,

l Cte*e.cr.f:sec. s 1 614 23 374 C& net , (9630f _11M f Net ..c c cmta rewerre ' -(42 220) 54 380 '

P'ar cg s uc: cn e ; e1 t rm 582.174 445 546 E r:a ', corrrc"e : c' t~e a u t.ance 'u tra . uwt

, d e rg cr.,ns!*/.! an co-mon .v;: L c.n ,

e *T6 G2441  ?'t702 l Pi A*ii CCi.S!RLOT:C,N CCSiS S 644 615 1:

• 2.y, l SU*.".*AW CT PLANT CO?.SIG;CT'F;FGUS I l

N.j: c:'r $414 845  : y.< nt ,

if sv n t - 41 339  : ! 'f c D s*r RA" 61 206 70 % 7 G re'i 12 886 . . tp2 l

Sz!:ta 5 530 326 . % Ws T Lt. e.1: tue 114 2n9 7a sco l PLAMT 7/.S'ET C'. CG5th S644rg . 75y4a . - _

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Balance Sheet Assets ~

,- 1977

,;t. .

.' 53 761 353 p.. -

c._ , --

'93 103 2691250  !

/ - /. -

t533521

- 'r: -

$4 231771 O TH;:n ;: ;. E'tiv ..' ' , ,

C" " u . 's <w- -

.c -* ' , . .

• 2*448

,r...,-- , . , . . ,

g .

. 39 917 .

c. ,,. .c 9 811 i * - -.- ;t.. 70 2C,6 T up;;r , ::; .

3 gj f n , ;. .

I -;. - '. !8218 i P. . .-

- 93 708 I i , .. 4 ,

'4887

! "'3 . i . 4;

! ' ?10 125

-51567 l ,

234 505

/

.. s t r - -

[; .: .. . - ,

- n l

~~

e- l 11 941 l C'~ ' i 2 283

_ < v. - ! 14 22s TOT,*-L <- ir'5 > $4 610 7C6 i _

-s e_ .

, . . . . , - . . . . . . - . _ _ _ _ _ . . _ - . ~ . . . _ . , _ _ . _ , . . _ . _ _ . . . _ . . _ . _ . . _ _ . _ . . _ _ . _ _ _ _ . _ _ _ _ . , . . _ _ _ _ _ _ _ _ _ _ _ _ . . _

I Duke Power Company Capitalization and Liabilities 1977 -

..- -g *p

$1343 315 554 985 1949 C?!

~

1' o 53 846 381

, (U T. ,

,i. e 76 659

"'- .J- '

47.136

<2 33 284

, 8 698 165 777

. 'r  : t.- 174 095 70 095

~e-. * e 409 957 .

272 580 65 908 15 880 81 788

~ .

~

54 610 706 -

I l

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V , ~ l?

f

~.- . _ _ . .

Statement of Capitalization Duke Power Company e t' 1477 -

. . . . n . , q . ,.- c, ._mm..y ~.s i -

C C, -..u...i ,, ....,.

C. -re -- ,y. "c*C: d..'N *.c '. . i"J N L' .- :'Cd s a es Ov:stanc r : t 4J * ' sd

-fa 17

• 102 m: e< !T7 a d ' *Y r e . .. .e. 51 135 418 L

l P * : nec t a n rm _f07 8(C

• Tc'.i common 5:0c eja / 1 343 315 -

.?

i%rcen.' ct cao:a e:f::n 34 9%  :-4'

/

PPEF ERE CE A!.D PREFERRE.D 5?O^rS *. ::e ?

Sra es

• f*} h 4fy _ C_ Mis

  ? 'Y _1) g Pr. e erce s!ac 5 PJ pa-a tror zed 15'O C.13 sna es Cc . ' 5 e

- . 4 AA . MO 49.985 o

- P e'e rce stoc i i'J0 r aa nm ; c a CG' .c2 sr.res  :- J .' 35 000  %!

id 35 000 m -

. D -

..---, y O 35 000

E t0 60 000

}

_; r. 60 000

' - H -

V 60 000 600C0 -

50 000

. - 50 000 q f . % u: e ,

A Q u-

~ . .c :D , . , sna t-

- . ' '; ., 60 000 L

p s .: c'e . m r::-

-- - 554 9A5

^

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14 4%

L C ..o . ,,e. r. r. . , C u. . . .. ,... _ . >

4

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. m ;e 3; .

.. s. -'e: 1 778'~5n

" 27.345

? 9 .: * ~: e. .. . ., .

T :n cs , - -- .~- 60 000 100 000 P- +

,-.-'*r, '

• N.  ? 2 4; ) .

' n. *. Je: . sv .

. 2805* -

%* .:t 'e A* ' t; s - sn . 22 306 * -

(' ,

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. , - . ~ . . .- ( ogy -

a"e-: A.- .

< c; !.:. m c

• _m /70 Oe5] ._.-

y ; ,. . m- . i pas og, ,,

l

- . . * - ; i: 50 7',

'~

TC TA_ e AM AUZ AC'. 53 846 381 - -

,e _

U_

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t i

Statement of Retained Earnings Duke Power Company 1977 13 '.'

f: A. J.', '- n. : ~' r v .e t- $161610 A.:. r.1 ' 192 349

^

i' -

S353959 i:d? :::

. =. v. :r

~.

^' ce rs:s Cem ne s:cc< 103 755 r7 U >

P e'ee 'ce cance erfec RG s 38 679 '4'n' Cap t.t- six a ei;cse 3 428 '4 76 -

' ;!J dc(:u-tu's 146 062 126 612 i:A;A'.?E Fe :,' t w.t- $207 897 31ggio 1

Auditors' Opinion g

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t I

Notes to Financial Statements Duke Power Company

1. Summary of Significant Accounting Policies . . . - - . . . . . . _ . - - - - . . , .

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3-i t-Financial Review and Management's Analysis j for the Years Ended December 31,1977 and 1976 I

1 AVE RAGE KWH CONSUUPTION l PER RFSIDENTIAL CUSTOMER l se ,

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Duke Power Company j ummary of Operations 1

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