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Kaua'i Island Utility Cooperative Your Touchstone Energy'Cooperative JV^i^
March 16, 2015
Mr. Randall Y. Iwase Administrative Director Public Utilities Commission Kekuanao'a Building, Room 103 465 South King Street Honolulu, HI 96813
Subject: 2014 ANNUAL REPORT TO THE PUC
Dear Mr. Iwase:
FILED m i m 18 p 1=23
pmiK UTILITIES
Industry Type ^ J / l C ^ <^
PeriodEndinjj i ^ | 3 < \ \
initials
idina
Kauai Island Utility Cooperative respectfully submits its 2014 Annual Report and the selected five-year statistical data (2010-2014) drawn from the annual report.
Please call me if you have any questions at (808) 246-8213.
Very truly yours.
David J. Bissell
President and Chief Executive Officer
Enclosures
Cc: Division of Consumer Advocacy
The power of human connections* 4463 Pahe "e Street, Suite I • Uhue. Kaua 7, HI 96766-2000 - (808)246-4300 • www.kiuc.coop
KIUC is an equal opportunity provider and employer.
^li'\iiS
Annual Report of
r I irrrt Un in/
2015 HAR 18 P | : 2 S
r m U C UTILITIES COMMISSION
KAUA'I ISLAND UTILITY COOPERATIVE Stale exact corporate name of respondent
LIHUE, KAUAI. HAWAII Address of Respondent's Principal Business Office
To the
Public Utilities Commission State of Hawaii
For the year ending
DECEMBER 31, 2014
Electric Utilities
Approved Annual Report S I uKB^^Mtki 1 Revised Form . . . . l e i i l W O ^ ^ s N s -ftl Approved by Public Utilities Commission
GENERAL INSTRUCTION FOR
PREPARING REPORT
All electric utilities operating within the State of Hawaii shall make their annual report on this form in duplicate and file the original, duly verified in the office of this Commission, on or before March 31st of the following year, retaining duplicate copy for its files.
The form of annual report is prepared in conformity with Uniform System of Accounts for Public Utilities as prescribed by this Commission, and all accounting words and phrases are to be interpreted in accordance with the said classification.
The word "Respondent" wherever used in this report, means the person, corporation, licensee, agency, authority, or other legal entity or instrumentality in whose behalf the report is made.
Each annual report should in all particulars be complete in itself and references to returns of former years or to other reports should not be made to take the place of information as required herein.
Where information, required herein, is not given, state fully the reason for its omission.
The report should be made on typewriter, as all forms are designed therefore. All entries should be typed in black except those of contrary or opposite character which should be typed in red or enclosed in parenthesis. If it is necessary or advisable to insert additional statements for the purpose of further explanation of accounts or schedules, they should be typed on paper of durable quality and should conform with this in size of page and be securely appended hereto.
The report is designed to cover the calendar year. Each utility shall close its books at the end of each calendar year unless otherwise authorized by the Commission.
Respondent may, in lieu of filing this report, fileacopy of the annual report submitted to the Federal Power Commission (Form I). In addition to filing either report, respondent shall also file with the Commission, a copy of its annual report prepared for distribution to its security holders and such other reports or schedules as requested.
Page Nos. 3-4. ORGANIZATION AND CONTROL OF RESPONDENT. Answer all questions as indicated.
Page Nos. 5-6. Schedule A - COMPARATIVE BALANCE SHEET. The balance at the beginning and at the close of the year appearing in the respective accounts on the respondent's books, as well as the increase or decrease, should be reported on this schedule for each item; all entries on the balance sheet should be consistent with those shown on supporting schedules.
Page Nos. 7-8-9. Schedules A-l to A-1.2 inclusive. - ANALYSIS OF UTILITY PLANT ACCOUNTS. The amounts applicable to the various account classifications shall be shown on this schedule. There shall be reported the balances in accounts 101, 102, 103, 104, 105, 106, 107 and 114, at the beginning of the year, total charges during the year, total credits during year, and the balances at the close of the year. The total of each classification and the total of all accounts should be in accord with the amounts shown on the Balance Sheet.
Page No. 1
Page No. 10. Schedule A-2 - ACCUMULATED PROVISIONS FOR DEPRECIATION OF UTILITY PLANT. The .accrued depreciation applicable to the various account classifications shall be shown on this schedule. There shall be reported the balances at the beginning of the year, credits and debits during the year and the balance at the end of the year, which should be in accord with the amount shown on the Balance Sheet.
Page Nos. 11-12-13. Schedules A-2.1 to A-2.3 inclusive. ANALYSIS OF ACCUMULATED PROVISIONS FOR DEPRECIATION OF UTILITY PLANT. State complete analysis as indicated.
Page No. 14. Schedule A-3 - ACCUMULATED PROVISIONS FOR AMORTIZATION OF UTILITY PLANT. The total amount of reserves at the beginning of the year, credits and debits during year and balance at the end of year for each classification of accounts should be reported on the schedule. Totals should be in accord with amounts shown on Balance Sheet.
Page 14-A. Schedule A-4-NON-UTILITY PLANT. Complete schedules as indicated.
Page No. 15. Schedules A-5 to A-6 inclusive. Indicate on these schedules a complete analysis for all corresponding items as appearing on the Balance Sheet.
Page No. 16. Schedules A-7 to A-9 inclusive. Sate complete analysis as indicated.
Page No. 17. Schedules A-10 to A-12 inclusive. State complete analysis as indicated.
Page No. 18. Schedule A-13 - UNAMORTIZED DEBT DISCOUNT AND EXPENSE. State complete analysis as indicated for each class and series of long-term debt.
Page No. 19. Schedule A-14 - EXTRAORDINARY PROPERTY LOSSES. State complete analysis of property abandoned, date of abandonment, date of Commission Authorization and period over which amortization is being made.
Schedule A-15 - MISCELLANEOUS DEFERRED DEBITS. Complete as indicated.
Schedule A-16 - DEFERRED REGULATORY COMMISSION EXPENSES. State complete analysis as indicated.
Page No. 20. Schedules A-17 to A-19 inclusive. State complete analysis as indicated.
Page No. 21. Schedule A-20 - CAPITAL STOCK EXPENSE. If any change occurred during the year, give particulars of the change. Statethereasonforanychargeoff of capital stock expense and specify the amount and account charged.
Page No. 22. Schedule A-21 - ANALYSIS OF APPROPRIATED RETAINED EARNINGS. State complete analysis as indicated.
Page No. 23. Schedule A-22 - ANALYSIS OF UNAPPROPRIATED RETAINED EARNINGS. State complete analysis as indicated.
Page No. 24. Schedule A-23 - LONG-TERM DEBT. State complete analysis as indicated for Bonds. Advances from Associated Companies and Other Long-Term Debt, which should be in accord with the amounts shown on the Balance Sheet.
Page No. 2
Page No. 25. Schedule A-24 - ACCRUED TAXES. There shall be reported the accrued tax amounts at the beginning of the year, taxes charged during the year and the balance at the end of year, which should be in accord with the amount shown on the Balance Sheet.
Page No. 26. Schedules A-25 to A-27 inclusive. State complete analysis as indicated.
Page No. 27. Schedule A-28 - UNAMORTIZED PREMIUM ON DEBT. State complete analysis as indicated on premiums applicable to each class and series of long-term debt.
Page No. 28. Schedules A-29 to A-31 inclusive. State complete analysis as indicated.
Page No. 29. Schedule B - ANALYSIS OF INCOME ACCOUNT. State complete analysis as indicated.
Page No. 30. Schedule B-1 - ANALYSIS OF GROSS OPERATING REVENUES. State complete analysis as indicated.
Page Nos. 31 -34. Schedule B-2 - ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS. State complete analysis as indicated.
Page No. 35. Schedule B-3 - ANALYSIS OF TOTAL CORPORATION TAXES. State complete analysis as indicated.
Page No. 36. Schedule C - STATISTICAL INFORMATION. State complete analysis as indicated.
Page Nos. 37-38. Schedule D - MISCELLANEOUS DATA. Answer each question fully as indicated.
Page No. 39. Schedule E - CONTINGENT ASSETS AND LIABILITIES. Give a complete statement of significant contingent assets and liabilities at the close of the year.
Page No. 40. VERIFICATION. Complete as indicated.
Page No. 2A
Kauai Island Utility Cooperative-YE 12/31/14
State full and exact name of resp Date of Incorporation Nature of Business Location of IVIain Business Office
island and Districts in Which Ser
Name
Carol Bain Secretary
Karen Baldwin
Pat Gegan Vice Treasurer
David Iha
Calvin Murashige Vice Chair effective 12/16/14
Allan Smith Chairman (Resigned 12/16/14)
Teofilo Tacbian
Jan TenBruggencate Vice Chair to 12/16/14 Chairman effective 12/16/14
Peter Yukimura Treasurer
ORGANiZATiON AND CONTROL OF RESPONDE
ondent making this report: Kauai Island L November 6, 1999 Generate, purchase, distribute and sell
vice is Supplied:
Directors
Address
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 LIhue, Hawaii 96766-2000
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000
Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue. Hawaii 96766-2000
electric energy
ENT
itility Cooperat
to member-ow 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000 Entire Island of Kauai
Term Expires-
2016
2015
2015
2017
2016
2014
2017
2016
2017
Meetings Attended
During Year
15
14
14
15
15
14
16
15
15
ve
Tiers
Shares Owned Common
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Preferred
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Principal Officers
Title
President & CEO Financial Vice President & CFO Secretary Treasurer
Name
David J. Bissell Karissa Jonas Carol Bain Peter Yukimura
Date Appointed
March 1,2011 August 31, 2011 March 18. 2014 March 18, 2014
Shares Owned Common
N/A N/A N/A N/A N/A
Preferred. N/A N/A N/A N/A N/A
Pages
Kauai Island Utility Cooperative-YE 12/31/14
State total Amount of all Outstanding Stock at close of year: $ N/A - Electric Membership Cooperative Common Shares; par value $ Preferred Preferred
Shares; par value $_ Shares; par value $
Amount Amount Amount
Does any class of securities carry any special privileges in any elections or in the control of corporate action? If so, describe each such class or Issue, showing the character and extend of such privileges: None
If during the year the respondent acquired other companies or was organized in any respect or merged or consolidated with other companies, state in detail full particulars of such transactions:
Furnish complete list showing all companies controlled by respondent, either directly or indirectl^^ KIUC Renewable Solutions One, LLC KIUC Renewable Solutions Two, LLC KIUC Renewable Solutions Two Holdings, LLC
Furnish complete list showing companies controlling respondent;_ None
Name all kinds of business, other than Utility In which the respondent was engaged at any time during the year. If none, state so: None
State Commission's Docket, Order numbers and effective dates authorizing present classification of rate:
Classification
Residential Sen/ice General Light & Power Sen/lce (Small Commercial) General Light & Power Service (Large Commercial) Large Power Primary Service Large Power Secondary Service Purchases from Qualifying facilltles-IOOkw or less Street Lighting Standby. Auxiliary. Supplementary or Breakdown Svce Interruptible Contract Service
State precisely the period covered by this report:
Q Modified SL
Rider S Rider I
January 1, 2014 to December 31. 2014
- Docket No,
2009-0050 '•
Order No.
Filed "
Effective Date
09/09/10 "
" ,.
'• "
Tariff Order 2009-0050
"
Filed Filed
"
03/05/09 09/09/10
" ,.
State name, title, and address of officer in charge of correspondence relative to this report: Name David J. Bissell Title Address
President & Chief Executive Officer. Kauai Island Utility Cooperative 4463 Pahee Street. Suite #1, Lihue. HI 96766-2000
Page 4
Kauai Island Utility Cooperative-YE 12/31/14
Schedule A COMPARATIVE BALANCE SHEET
ASSETS AND OTHER DEBITS Utility Plant
Utility Plant in Service Accumulated Provision for Deprec. & Amort.
Utility Plant Less Reserves
Construction Work in Progress Utility Plant Acquisition Adjustments Accum. Prov. for Amort, of Util. PIt.Acq.Adj.
Utility Plant Acquis. Adj. Less Reserves Other Utility Plant Adjustments
Total Utility Plant Less Reserves
Other Property and Investments Non-Utility Property Less Reserves Investment in Associated Companies Other Investments Special Funds
Total Other Property and Investments
Current and Accrued Assets Cash Special Deposits Working Funds Temporary Cash Investments Notes Receivable Customer Accounts Receivable Other Accounts Receivable Accumulated Prov. for Uncollect.Accts.-Cr. Receivables from Associated Companies Fuel Stock Residuals Materials and Supplies-Utility Materials and Supplies-Merchandise Materials and Supplies-Non-Utiiity Stores Expense Prepayments Interest and Dividends Receivable Rents Receivable Accrued Utility Revenues Miscellaneous Current and Accrued Assets
Total Current and Accrued Assets
Deferred Debits Unamortized Debt Discount and Expense Notes Receivable-SSPP Preliminary Survey and Investigation Charges Clearing Accounts Temporary Facilities Miscellaneous Defen-ed Debits Regulatory Commission Expenses
Total Deferred Debits TOTAL ASSETS AND OTHER DEBITS
Sched. No.
A-1 A-2
A-1 A-1 A-3
A-1
A-4 A-5
A-5-A A-6
A-7
A-8
A-9
A-10
A-11
A-12
A-13 A-14
A-15 A-16
Balance 1/1/14 Beg of Year
X X X X X X X X X X X
$ 435,351,324 (221,086,401) 214,264,923
8,977,876 54,852,453
(24,499,598)
-253,595,654
X X X X X X X X X X X
11.494.691 --
11,494,691
X X X X X X X X X X X
7,650,875 14,710 2,000
-
13,247,407 669,683
(537,627)
2,151.593
13,225.431 '
1,195.076 -
8.039.369 -
45,658,517
X X X X X X X X X X X
-3.828,172
-
144,582 3.432.477 7,405.231
$ 318.154.093
Balance 12/31/14 Close of Year
X X X X X X X X X X X
$ 439.694.424 (226,710,744) 212,983,680
7,964.338 54,852.453
(26,693.780)
-249,106,691
X X X X X X X X X X X
39,738.534 --
39.738,534
X X X X X X X X X X X
20,671,671 14,710 2,000
-
9,698.368 1,066,730 (592.145)
1.602,414
12,794,123
1,147,130 -
7,091,702 -
53,496,703
X X X X X X X X X X X
-3,990.250
•
63,073 3,477.424 7,530.747
$ 349,872.675
Increase or (Decrease)
X X X X X X X X X X X
$ 4,343,100 (5.624.343) (1.281,243)
(1,013,538) fO)
(2,194,182)
-(4,488,963)
X X X X X X X X X X X
28.243.843 --
28.243,843
X X X X X X X X X X X
13,020.796 ---
(3.549,039) 397,047 (54,518)
(549,179)
(431,308)
(47,946) -
(947,667) -
7,838,186
X X X X X X X X X X X
-162.078
-
(81,509) 44,947
125,516 $ 31,718,582
Pages
Kauai Island Utility Cooperatlve-YE 12/31/14
Schedule A COIMPARATIVE BALANCE SHEET
LIABILITIES AND OTHER CREDITS Proprietary Capital
Common Stock Issued Preferred Stock Issued Capital Stock Subscribed Patronage Capital Memberships Other Equities & Retired Capital Credits Capital Stock Expense Appropriated Retained Earnings Unappropriated Retained Earnings Reacquired Capital Stock
Total Proprietary Capital Division Capital Long-Term Debt
Bonds Advances from Associated Companies Other Long-Term Debt
Other Long-Term Debt
Current and Accrued Liabilities Notes Payable Accounts Payable Energy Rate Adjustment Clause Customer Deposits Taxes Accrued Interest Accaied Patronage Capital Payable Matured Long-Term Debt Tax Collections Payable Misc. Current and Accated Liabilities
Total Current and Accrued Liabilities
Deferred Credits Unamortized Premiums on Debt Customer Advances For Construction Other Deferred Credits Accumulated Deferred Investment Tax Cr.
Total Deferred Credits
Operating Reserves Property Insurance Reserve Injuries and Damages Reserve Pensions and Benefits Reserve Miscellaneous Operating Reserve
Total Operating Reserves Contributions In Aid of Construction
Accumulated Deferred Income Taxes Accum Def Inc Taxes-Lib. Depr. Accum Def Inc Taxes-Other
Total Accum Def Inc Taxes TOTAL LIABILITIES AND OTHER CREDITS
Sched. No.
A-17 A-18
A-20 A-21
A-19
A-22
A-23 A-23 A-23
A-24
A-24 A-25
A-28 A-26 A-27 A-30
A-31
A-29 A-29
Balance 1/1/14 Beg of Year
X X X X X X X X X X X
-
$ 84,689.122 451
599.904 ----
85,289,477 -
--
177,468,620 177,468.620
X X X X X X X X X X X
11,311.000 6,038.393
-1.281.238 9,880,147
83,250 34,130
11,291,699 -
3,990,353 43,910,210
X X X X X X X X X X X
2,112.830 9,372.956
-11,485,786
X X X X X X X X X X X
--
X X X X X X X X X X X
--
$ 318,154,093
Balance 12/31/14 Close of Year
X X X X X X X X X X X
-
$ 92,527.762 467
491,033 ----
93,019,262 -
--
175,433,686 175,433.686
X X X X X X X X X X X
39,000,000 6,036,260 1,109,770 1,514,639 9,406,315
67,527 38.325
12,186.909 -
1,542,200 70,901,945
X X X X X X X X X X X
653,485 9,864,297
-10,517,782
X X X X X X X X X X X
--
X X X X X X X X X X X
--
$ 349,872,675
Increase or Decrease
X X X X X X X X X X X
-
$ 7.838,640 16
(108,871) ----
7,729,785 -
--
(2.034,934) (2,034.934)
X X X X X X X X X X X
27,689,000 (2.133)
233.401 (473,832) (15,723)
4.195 895.210
-(2,448.153) 26,991,735
X X X X X X X X X X X
(1,459,345) 491,341
-(968,004)
X X X X X X X X X X X
--
X X X X X X X X X X X
--
$ 31,718,582 Page 6
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Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-4 NON-UTILITY PLANT
DESCRIPTION - NON-UTILITY ASSETS
1211 Land and Land Rights 1212 Structures and Improvements 1213 Furniture and Equipment •
TOTAL
Balance Beginning
of Year 0 0 0
0
Debits During Year
0
Credits During Year
0
'. Balance Close of Year
0 0 0
0
Schedule A-4 RESERVE FOR DEPRECIATION
NON-UTILITY PLANT
DESCRIPTION NON-UTILITY ASSETS
1211 Land and Land Rights 1212 Structures and Improvements 1213 Furniture and Equipment
TOTAL
Balance Beginning
of Year 0 0 0
0
Debits During Year
0
Credits During Year
0
Balance Close of Year
0 0 0
0
Page 14a
Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-5 INVESTMENT IN ASSOCIATED COMPANIES
DESCRIPTION OF ITEM
CFC Loan Capital Term Certificates CFC Patronaqe Capital CFC SCTC's CFC Membership Fee CFC Member Capital Securities NISC Patronaqe Capital Ruralite Patronage Capital Economic Development Loan - NTBG Economic Development Loan - Island School Revolving Loan Fund Loan - Hale Opio Economic Development Loan - YWCA Revolving Loan Fund Loan - Kauai Brewers Revolving Loan Fund Loan - Tiki Iniki Revolving Loan Fund Loan - JC Linen Revolving Loan Fund Loan - Kipuni Way KRS1 KRS2 KRS2 Holdings
TOTAL
Date Acquired 12/17/03
N/A N/A
12/30/99 03/02/09
N/A N/A
03/17/08 09/04/08 03/06/08 05/18/12 05/15/13 07/25/13 08/05/13 03/20/14 10/10/11 10/11/12 08/01/13
X X X X X X
Date of Maturity 01/01/24
N/A N/A N/A
03/02/44 N/A
: N/A 03/17/18 09/04/18 03/06/18 05/18/22 05/15/20 07/25/20 08/05/20 03/18/24
N/A N/A N/A
x x x x x x
Amount
164,800 197,137 164,297
1,000 250,000
14,561 0
121.875 140.625
34.716 333.750 117.085 138.362 101,773 85.127
39.117.192 10.891
(1,254,657) 39,738,534
Book Cost End of Year
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Revenues For Year
0 43,361
4,184 0
13,524 4,373 5,943
0 0
424 0
1,304 1,497
0 911
530,459 0 0
605,979
Gain or Loss from Investment
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
(8.287) 0
(1,502.157) (1,510,444)
Schedule A-5-A OTHER INVESTMENTS
DESCRIPTION OF ITEM
NONE
TOTAL
Date Acquired
x x x x x x
Date of Maturity
x x x x x x
Amount
0
Book Cost End of Year
0
Revenues For Year
0
Gain or Loss from Investment
0
Schedule A-6 SPECIAL FUNDS
NAME AND PURPOSE OF FUND
NONE
TOTAL
Balance End of Year
0
Page 15
Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-7 SPECIAL DEPOSITS
DESCRIPTION AND PURPOSE OF DEPOSIT
Deposit - Bank of Hawaii Savings Certificate Deposit - Department of Land and Natural Resources A&B Rental Deposit A&B Rental Deposit
TOTAL
Balance End of Year
1,376 8,334 2,500 2,500
14,710
Schedule A-8 TEMPORARY CASH INVESTMENTS
DESCRIPTION OF ITEM
TbTAL
Par or Stated Value
0
0
Book Cost End of Year
0
0
Ledger Value
0
0
Revenues For Year
0
Schedule A-9 ACCUMULATED PROVISION FOR UNCOLLECTIBLE ACCOUNTS-CR.
ITEM
Balance Beginning of Year Prov. for Uncollectibles for Year Accounts Written Off Collection of Accts. Written Off Adjustments: (Explain)
Balance End of Year
Utility Customers
537,627 178,067
(163,986) 40,437
592,145
Merchandise, Jobbing and
Contact Work 0 0
0
Officers and
Employees
0
Other
0
Total
537,627 178,067
(163,986) 40,437
0
592,145
Page 16
Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-10 FUEL STOCK
Beginning of Year (excludes fuel for vehicles)
Purchased During Year:
Consumed During Year:
End of Year
Balance End of Year
Total Cost 2,151,593
83,852,959
84,402.138
1,602,414
Naphtha Barrels
9,093
361,579
362.087
8,585
Cost 1,121.202
42,938,385
43,298,102
761,485
Diesel Barrels
6.825
287,150
288,318
5.657
Cost 1.028,959
40,820,043
41,008.078
840,924
Schedule A-11 PREPAYMENTS
NATURE OF PAYMENTS
Prepaid Other
Prepaid Rent
Prepaid Insurance
TOTAL
Balance End of Year
74,928
0
1,072,202
1.147.130
Schedule A-12 MISCELLANEOUS CURRENT AND ACCRUED ASSETS
DESCRIPTION OF ITEM
NONE
TOTAL
Balance End of Year
0
Used Oil Barrels
30
1,964
1.994
0
Cost 1,432
94.531
95,958
5
Page 17
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Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-14 EXTRAORDINARY PROPERTY LOSSES
DESCRIPTION OF ITEM
NONE
Total
Total Amount of Loss
Previously Written Off
Written Off During Year Ac. Charged Amount
Balance End of Year
Schedule A-15 MISCELLANEOUS DEFERRED DEBITS
DESCRIPTION OF OTHER DEFERRED DEBITS
Other Work-in-Progress
TOTAL
Balance End of Year
63.073
63,073
Schedule A-16 DEFERRED REGULATORY COMMISSION EXPENSES
DESCRIPTION OF CASE
(A) Iniki Deferred Depreciation -HPUC D&O 12064 dated 12/9/92 pg. 7 being amortized over 28 years beginninq 10/1/96.
(B) DSM project costs and recoveries - HPUC D&O 15733 dated 8/5/97 (0) IRP project costs and recoveries - HPUC D&O 15733 dated 8/5/97 (D) Solar Water Heating Pay-As-You-Save - HPUC D&O 23531 dated 6/29/07 (E) Pension Costs Tracking
Total Expenses of Case
$ 2,557,212
S 2,557,212
Amortization Previous Year S 292.260
$ 292.260
Current Year $ 292,260
$ 292,280
Balance End of Year
$ 2,264.952
31,911 (575,687)
53,968 1.702,259
$ 3,477,424
Page 19
Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-17 COMMON STOCK ISSUED
DESCRIPTION
NONE
Total
Par or Stated Value
Per Share
0
Number of Shares At End of Year
Authorized
0
Outstanding
0
Book Liability Actually Outstanding
At End of Year
0
Premium or Discount
0
Schedule A-18 PREFERRED STOCK ISSUED
Series
NONE
Dividend Rate
Total
Face Amount
0
Date of Issue
0
Date of Maturity
Premiums or Discount
Amount Actually Outstanding
0
Schedule A-19 REACQUIRED CAPITAL STOCK
CAPITAL STOCK
NONE
Total
Number of Shares
Reacquired
0
Cost Per Share Reacquired
0
Balance End of Year
0
Page 20
Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-20 CAPITAL STOCK EXPENSE
CLASS AND SERIES OF STOCK
NONE
Total
Balance End of Year
0
Page 21
Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-21 ANALYSIS OF APPROPRIATED RETAINED EARNINGS
ITEM
CREDITS Give nature of each credit and account charged;
NONE
Total Credits
DEBITS Give nature of each credit and account charged:
NONE
Total Debits
BALANCE END OF YEAR
Account
X X X X X X X X X X X
X X X X X X X X X X X
X X X X X X X X X X X
X X X X X X X X X X X
X X X X X X X X X X X
X X X X X X X X X X X
X X X X X X X X X X X
Amount
X X X X X X X X X X X
. -
X X X X X X X X X X X
X X X X X X X X X X X
-
-
Page 22
Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-22 ANALYSIS OF UNAPPROPRIATED RETAINED EARNINGS (DIVISION CAPITAL)
Retained Earnings, Beginning of Year
• "
TOTAL CREDITS
TOTAL DEBITS
RETAINED EARNINGS - End of Year
Amount -
-
-
-
-
Increase or (Decrease) From Preceding Year
-
-
-
Page 23
Kauai Island Ullity Cooperative-YE 12/31/14
Schedule A-23 LONG-TERM DEBT
CLASS AND SERIES OF OBLIGATION
Rural Utility Service (RUS) Financing less: RUS Cushion of Credit
RUS/FFB-KPP Purchase Financing RUS/FFB-C8
Natl Rural Utility Coop Finance Corp (CFC) (KPP Purchase)
less: Current Maturities of Long-term Debt
Interest Expense on Customer Deposits Other Interest Expense - $5M LOG Other Interest Expense - $20M LOC Other Interest Expense - $70M LOC
Total
Date of Issue
11/01/02
10/19/04 10/01/12
12/18/03
x x x x x x x
Maturity Date
10/31/27
12/31/23 12/31/42
12/17/23
x x x x x x x
Amount Authorized
-
Amount Outstanding
$ 144,235,878 $ (12,447,764)
$ 19,427,288 $ 32,200,150
$ 4.205.043
$ (12,186.909)
$ 175.433.686
Interest Expense For the Year
$ 5.759.172
$ 708.157 $ 786,384
$ 108.414
0 0
$ 19,603 $ 530,459
S 7.912.190
PREMIUM OR DISCOUNTI Balance
End of Year
-
/Vmortized During Year
-
Page 24
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Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-25 MISCELLANEOUS CURRENT AND ACCRUED LIABILITIES
Description
FAS-158 Accumulated Post-Retirement Benefit Obligation Liability NBU & BU Employees Vacation Accrual NBU & BU Accrued Payroll
Total
Balance End of Year
$ (1,113,400) 593,312
2.062,288
$ 1,542,200
Schedule A-26 CUSTOMER ADVANCES FOR CONSTRUCTION
Item
Balance Beginning of Year Advances By Customers Refunds To Customers
Transferred to CIAC Balance End of Year
Debit Credit Amount
$ 2,112,830 277,579 (50,008)
(1,686,916) $ 653,485
Schedule A-27 OTHER DEFERRED CREDITS
Description of Deferred Credits
Iniki Deferred Depreciation (Contra) Schedule A-16 Hitachi Major Overhaul (GT-1) Boiler/Steam Turbine Maior Overhaul JBE Major Overhaul (GT^2) KPS Maior Overhaul (CT-1) D-6 Major Overhaul D-7 Major Overhaul D-8 Major Overhaul D-9 Major Overhaul RUS Rural Economic Development Grant G&R Hydro Security Deposit
Total
Balance End of Year
$ 2.264,952 463,280 403.519 270,184
1,767,305 800.000 200.000
0 950.000
1,245,057 1,500,000
$ 9,864,297
Page 26
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Kauai Island Utility Cooperative-YE 12/31/14
Schedule A-29 ACCUMULATED DEFERRED INCOME TAXES
ITEMS NONE
Total
Balance Beginning of Year
-----------
Changes During Year Amts. Debited
-----------
Amts. Credited -----------
Balance End of Year
-----------
Schedule A-30 ACCUMULATED DEFERRED INVESTMENT TAX CREDITS
ITEMS NONE
Total
Balance Beginning of Year
-
-
Changes Amts. Debited
-
-
During Year Amts. Credited
-
-
Balance End of Year
-
-
Schedule A-31 CONTRIBUTIONS IN AID OF CONSTRUCTION
Balance Beginning of Year
NONE
Balance End of Year
Debits
«
Credits Amount $
-
---
$ -
Page 28
Kauai Island Utility Cooperative-YE 12/31/14
Schedule B ANALYSIS OF INCOME ACCOUNT
ACCOUNT TITLE
UTILITY OPERATING INCOME Operating Revenues Operating Expenses
Operating Expense Maintenance Expense Depreciation Expense Amortization of Utility Plant Amortization of Utility Plant Acquis. Adj. Amortization of Property Losses Taxes Other Than Income Taxes Income Taxes Provision for Deferred Income Taxes Provision for Deferred Investment Tax Cr. Income Taxes Deferred in Prior Yrs.~Cr. Amortization of Def. Investment Tax Cr.~Cr.
Total Operating Expenses
Operating Income Income from Utility Plant Leased to others
Total Operating income
OTHER INCOME Income from Mdse., Jobbing & Contract Work (Net)
(lncome)/Loss from Subsidiaries Capital Credits & Patronage Non-operating Rental Income PPA Liquidated Damages Interest & Dividend Income Allowance for Funds Used During Construction Miscellaneous Non-operating Income
Total Other Income OTHER INCOME DEDUCTIONS
Miscellaneous Amortization Miscellaneous Income Deductions
Total Other Income Deductions Total Other Income and Deductions
INTEREST CHARGES Interest on Long-Term Debt Amortization of Debt Discount & Expense Amortization of Premium on Debt Cr. Interest on Debt to Associated Companies Other Interest Expenses
Total Interest Charges Income Before Extraordinary Items •
EXTRAORDINARY ITEMS Extraordinary Income Extraordinary Deductions Income Taxes, Extraordinary Items
Total Extraordinary items
NET MARGINS
Sched. No.
B-1
B-2
B-2
B-3 B-3 B-3
Amount
$ 179,375,468
120,201,625 11,834,786 12,420,860
2,194,182
15,095.024
161,746,477
17,628,991
17,628,991
47,506 (1,510,444)
53,676 78,107
-1,120,510
-4.136
(206.509)
61,411 61,411
(267,920)
7,362,128
550.062 7.912,190 9.448,881
$ 9.448.881
Increase (Decrease) From Previous Year
$ {5.338,820)
(7,443,700) 344,531 764,168
-
(445,922)
(6.780,923)
1,442,103
1,442,103
(15,249) (1,726,154)
(16,336) 2.453
-279,814
3,611 (1,471,861)
(42,993) (42.993)
(1.428,868)
(375,629)
94,038 (281,591) 294,826
$ 294.826
Page 29
Kauai Island Utility Cooperative-YE 12/31/14
Schedule B-1 ANALYSIS OF GROSS OPERATING REVENUES
Utility Department
ACCOUNT TITLE
Operating Revenues:
Residential Comb. Lighting, Heating and Small Power "D" General Lighting Service "C" General Lighting Service "G" General Lighting Service "J" Large Power "P" Large Power "L" Optional Power Industrial Contract Governmental Street, Highway & Park Lighting "SL" Electric Service for Employees "E" Irrigation
Sub-Total Other Operating Revenues:
Late Payment Fees Miscellaneous Service Revenues Non-Standard Meter Charge Rent From Property Other Revenues
Sub-Total
Total Gross Operating Revenues
Current Year
$ 68.457,684
26,487,475 20,541,391 18,163.410 43,467,971
1,594,732
38,762
$ 178,751,426
237,145 357,301
19,496 10,100
$ 624,042
$ 179,375,468
Previous Year
$ 69,870,560
26,633,999 21,676,632 18,943,198 45,649,059
1,616,931
82,525
$ 184,472,904
150,990 64,474 19,220 6.700
$ 241,384
$ 184,714,288
Page 30
Kauai Island Utility Cooperative-YE 12/31/14
Schedule B-2 ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS
ACCOUNT TITLE
POWER PRODUCTION EXPENSES Steam Power Generation
Operation 500 Operation Supervision and Engineering 501 Fuel 502 Steam Expenses 503 Steam from Other Sources 504 Steam Transferred-Cr. 505 Electric Expenses 506 Miscellaneous Steam Power Expenses 507 Rents
Total Operation Maintenance
510 Maintenance Supervision and Engineering 511 Maintenance of Structures 512 Maintenance of Boiler Plant 513 Maintenance of Electric Plant 514 Maintenance of Miscellaneous Steam Plant
Total Maintenance Total Steam Power Generation
Hydraulic Power Generation Operation
535 Operation Supervision and Engineering 536 Water for Power 537 Hydraulic Expenses 538 Electric Expenses 539 Misc, Hydraulic Power Generation Expenses 540 Rents
Total Operation Maintenance
541 Maintenance Supervision and Engineering 542 Maintenance of Structures 543 Maintenance of Reservoirs, Dams and Waterways 544 Maintenance of Electric Plant 545 Maintenance of Miscellaneous Hydraulic Plant
Total Maintenance Total Hydraulic Power Generation
Other Power Generation Operation
546 Operation Supervision and Engineering 547 Fuel 548 Generation Expenses 549 Miscellaneous Other Power Generation Expenses 550 Rents
Total Operation
Current Year
906,854
799,545
570
1,706,969
-166,324 156.506 41,398
364,228 2,071,197
(9,164)
(9,164)
200,195 7,161
207,366 198,192
549,675 84,821,208 2,691,799
975,208
89,037,890
Previous Year
937,503
742,908
4,590
1,685,001
-181,670 103,917 43,859
329,446 2,014,447
108,484
108,484
217,186 4,241
221,427 329,911
581,224 91,876,184 2.635,092
931.389
96,023,889
Page 31
Kauai Island Utility Cooperative-YE 12/31/14
ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS- (Continued)
ACCOUNT TITLE Maintenance
551 Maintenance Supervision and Engineering 552 Maintenance of Structures 553 Maintenance of Generating and Electric Plant 554 Maint. of Misc. Other Power Generation Plant
Total Maintenance
Total Other Power Generation
Other Power Supply Expenses 555 Purchased Power 556 System Control and Load Dispatching 557 Other Expenses
Total Other Power Supply Expenses
TOTAL PRODUCTION EXPENSES
TRANSMISSION EXPENSES Operation
560 Operation Supervision and Engineering 561 Load Dispatching 562 Station Expenses 563 Overhead Line Expenses 564 Underground Line Expenses 565 Transmission of Electricity by Others 566 Miscellaneous Transmission Expenses 567 Rents
Total Operation Maintenance
568 Maintenance Supervision and Engineering 569 Maintenance of Structures 570 Maintenance of Station Equipment 571 Maintenance of Overhead Lines 572 Maintenance of Underground Lines 573 Maintenance of Miscellaneous Transmission Plant
Total Maintenance
TOTAL TRANSMISSION EXPENSES
DISTRIBUTION EXPENSES Operation
580 Operation Supervision and Engineering 581 Load Dispatching 582 Station Expenses 583 Overhead Line Expenses 584 Underground Line Expenses 585 Street Lighting and Signal System Expenses 586 Meter Expenses 587 Customer Installations Expenses 588 Miscellaneous Distribution Expenses 589 Rents
Total 0Deration
Current Year
497,232 180,594
6,490,712
7,168,638
96.206,428
11.839,524 273,712
12,113,236
110,589,054
138,275 5,793
128,367 63.391
335.826
168,165 311,691
479,856
815,682
-
271,706 18,252 25,076
546,852
471,670 13,247
1.346.803
Previous Year
569,784 105,928
6,483,161
7,158.873
103,182,762
9,593,569 217,559
9,811,128
115,338,248
120.467 8,645
134,576 70,446
334,134
233,786 343,127
576,913
911,047
1,952
179,984 28,229 14,351
495.525
523,941 12,368
1.256.350
Page 32
Kauai Island Utility Cooperative-YE 12/31/14
ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS- (Continued)
ACCOUNT TITLE Maintenance
590 Maintenance Supervision and Enqineering 591 Maintenance of Structures 592 Maintenanceof Station Equipment 593 Maintenanceof Overhead Lines 594 Maintenance of Underground Lines 595 Maintenance of Line Transformers 596 Maintenance of Street Liqhtinq & Signal Systems 597 Maintenance of Meters 598 Maintenance of Miscellaneous Distribution Plant
Total Maintenance
TOTAL DISTRIBUTION EXPENSES
TOTAL TRANSMISSION & DISTRIBUTION EXPENSES
CUSTOMER ACCOUNTS Operation
901 Supervision 902 Meter Reading Expenses 903 Customer Records and Collection Expenses 904 Uncollectible Accounts 905 Miscellaneous Customer Accounts Expenses 907-912 Additional Customer Accounts Expenses
TOTAL CUSTOMER ACCOUNTS
SAL^S ^X^ENSES Ooe ration
911 Supervision 912 Demonstratinq and Sellinq Expenses 913 Advertisinq Expenses 914 Revenues from Merchandisinq, Jobbinq and
Contract Work 915 Costs and Expenses of Merchandisinq.
Jobbinq and Contract Work 916 Miscellaneous Sales Expenses
TOTAL SALES EXPENSES
ADMINISTRATIVE AND GENERAL EXPENSES Operation
920 Administrative and General Salaries 921 Office Supplies and Expenses 923.30 Administrative Office Expenses 923 Outside Services Employed 924 Property Insurance 925 Injuries and Damaqes 926 Employee Pensions and Benefits 927 Franchise Requirements 928 Regulatory Commission Expenses 929 Duplicate Charqes~Cr. 930 Miscellaneous General Expenses 931 Rents
Total Operation
Current Year
426,810 2.180,371
346,957 1,816
77,918 12,730
3.046.602
4.393.406
5,209.087
270,549 74,999
1.833,613 178,124
527,877 2,885,162
-
4,301.342 1,025.488
3,132,492 649,520
1,368,067
983,686 1,324,307
12,784,902
Previous Year
407,983 1,945,139
265,305 2,162
61,093 10.421
2,692.103
3.948.453
4,869.500
289,549 223,718
1.819,230 182,420
593,129 3,108,046
-
6,797.777 879,967
3,188.342 615.501
1.656,869
866,158 1.313.679
15.318,293
Page 33
Kauai Island Utility Cooperative-YE 12/31/14
ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS- (Continued)
ACCOUNT TITLE Maintenance
935 Maintenance of General Plant
TOTAL ADMIN. & GENERAL EXPENSES
TOTAL OPERATING EXPENSES
TOTAL OPERATION EXPENSES
TOTAL MAINTENANCE EXPENSES
Current Year
568,206
13,353,108
132,036,411
120,201,625
11,834,786
Previous Year
511,493
15,829,786
139,135,580
127,646,325
11,490,255
Page 34
Kauai Island Utility Cooperative-YE 12/31/14
Schedule B-3 ANALYSIS OF TOTAL CORPORATION TAXES
DESCRIPTION OF TAX
STATE TAXES: Franchise Tax Public Service Company Tax Unemployment Tax Use Tax General Excise Tax Income Tax Property Tax
Total State Taxes
FEDERAL TAXES: F.I.C.A. Unemployment Tax Income Tax Vehicle Use
Total Federal Taxes
FEES AND LICENSES: Public Utility Fee Motor Vehicle Tax
Total Fees and Licenses
TOTAL CORPORATION TAXES
Rate Total Taxes
Charged During Year
4,501.153 10,595,714
61.265 308,038
38.486 24.790
----
15,529,446
1,077,676 6,627 6,046
----
1,090,349
900,231 38.860
--
939.091
$ 17.558.886
DISTRIBUTION OF TAXES 1 Tax
Expense
4,479,935 10,545,767
38.486
15,064,188
-
-
$ 15,064,188
Income Taxes
24,790
24,790
6,046
6,046
-
$ 30,836
Charged To Plant
13,478 154,019
167,497
226,312 1,458
227,770
-
$ 395,267
Other Accounts
21,218 49,947 47,787
154,019
272.971
851.364 5,169
856,533
900,231 38,860
939,091
$ 2,068,595
Non-Utility
-
-
-
$
Page 35
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Kauai iBl&nd Utility Cooperatlve-YE 12/31/14
Sc^hedule D MISCELLANEOUS DATA
Electric Utilities State whether Electric energy Is generatec If purchased, state from whom: Stale terms and duration of contract:
State contract price per K.W. Hr.
or purchased Generated and Purchased Gay & Robinson, Kekaha Aq Associalion. McBryde Resources Inc., KRS2 Koloa Solar Gen Facility Doc. 00-0086, D&O 18367 approved In 2001; Doc. 01-0055 D&O 18432 approved in 2001; Doc. 2012-0150 D&O 30649 approved in 2012, Various prices - as per contracts approved above.
Generating Stations
LOCATION OF STATIONS
Port Allen. Kauai Port Allen. Kauai Port Allen, Kauai Port Allen, Kauai Port Allen, Kauai Kapaia Power Station Upper and Lower Waiahi
TOTALS
State generation capacity State peak demand State whether service supplied is "A-C" or
MOTIVE POWER
No. of Units 1 2 3 2 4 1 2
122.550 KW 72,910 KW
"D-C" State average daily maximum load on outgoing lines
* State total bbls. fuel oil: Purchased 650.693
A-C N/A
; Consumed • State total cost fuel oil: Purchased $ 83.852,959 ; Cost per bbl * Stale total cost fuel oil: Consumed $ 84,402,136 ; Avg. cost per
State total fuel oil adjustment Revenues $ 28.100,951 ; Bbl. consumed Cost of fuel oil per K.W.Hr.: Generated $ $0.22137 ; per K.W. Hr. sold $ How often are meters tested? Give details Meters are tested per Rule No. 11A
State Peak Demand and Date of Peak for Each Month Date Peak
Jan Feb Mar Apr May June
01/02/14 02/10/14 03/26/14 04/01/14 05/22/14 06/24/14
72.890 70,270 68,250 66,660 68,460 67.580
Jul Aug Sep Oct Nov Dec
Types of Unit Steam Diesel Diesel Gas Turbine Diesel Steam-Injected Gas Turtine Hydro
K.W. Hrs. 652.399 On hand $128.87 $129.37
15,533 $0.19632
How many tested?
Dale 07/21/14 08/07/14 09/28/14 10/06/14 -11/05/14 12/09/14
Rated Capacity in
K.W 10.000 4.000 8,250
40.100 31.400 27,500
1,300
122,550
14,242
989
Peak 69,490 71,230 72,910 71,500 69,880 68,470
* diesel & naphtha combined
Page 37
Kauai Island Utility Cooperative-YE 12/31/14
Schedule D (Continued) MISCELLANEOUS DATA
Transmission Substations
LOCATION
Phnceville Princeville Kapaa Kapaa Lihue Sw. Station Lihue Sw. Station Lawai Port Allen Port Allen Port Allen Port Alien Kaumakani Port Allen Koloa Switchyard Koloa Switchyard Mana Kekaha Switchyard Kekaha Switchyard Port Allen Wainiha KPS Kapaia Port Allen Plant Lydqate Lydqate
TOTAL
TRANSFORMERS
Voltages 69.0/12.47 69.0/12.47 69.0/12.47 69.0/12.47 69.0/12.47 69.0/12.47
69.0/57.1/12.47 66.0/12.47
4.16/57.1/69.0 13.8/57.1/69.0 13.8/57.1/69.0
69.0x57.1/12.47 13.8/69.0
69.0/57.1/12.47 69.0/12.47
69.0/57.1/12.47 57.1/12.47
69.0x57.1/12.47 69.0/57.1/12.47
69.0/12.47 69.0/13.8 69.0/12.47 4.16/12.47 69.0/12.47 69.0/12.47
X X X X X X X X X X
No. of Transformers
2
2
27
Rating 10,000 10,000 10,000 10,000 10,000 10.000 7,500
10,000 10,000 20,000 20,000
3,750 15,000 10,000 10,000 7,500 5.000 7,500
10,000 1,500
21,000 10,000 5,000
10,000 10,000
< X X X X )
Substation Ratings
10,000 10,000 10,000 10.000 20,000 10.000 7,500
10,000 10,000 20,000 20,000
3.750 30,000 10,000 10,000 7,500 5.000 7,500
10,000 1,500
21,000 10,000 5,000
10,000 10,000
278,750
Dlstrfbution Substations
LOCATION
Puhi Puhi Molokoa Wainiha Waiahi (Lower) Waiahi (Upper) Puhi Puhi
TOTAL
TRANSFORMERS
Voltages
12.47/4.16 12.47/4.16 12.47/4.16 12.47/2.4 12.47/2.4 12.47/2.4 12.47/4.16 12.47/4.16
X X X X X X X X X X
No. of Transformers
2
9
Rating
500 500 300
1,500 1,500
750 750 500
< X X X X )
Substation Ratings
500 500 600
1,500 1,500
750 750 500
6,600
Page 38
Kauai Island Utility Cooperative-YE 12/31/14
Schedule E CONTINGENT ASSETS AND LIABILITIES
Commitments: NONE
Page 39
Kauai Island Utility Cooperative- YE 12/31/13
VERIFICATION
I swear (or declare) that the foregoing report has been prepared under my direction, from the original books, records and documents of the respondent corporation; that I have carefully examined the foregoing report; that I believe to the best of my knowledge and Information, all statements of fact and all accounts and figures contained in the foregoing report are true; that the said report is a correct and complete statement of the business, affairs and all operations of the respondent corporation during the period for which said report
has been prepared.
Uh UJL>
City or Town
Date
nature of Officer
^ /§ f 'den i f Cap Title of Officer
Subscribed and sworn to before me this ' o ' ^ day of M ^ ' C ^ ' ^ , 20
5 ; PUBUC : ~ | ^ ^
IS-
Notary Public
Judicial Circuit State of Hawaii
My Commission Expires 0 3 j ° ( ^ 1 ^ ^ ^ ^
Page 40
Kauai Island Utility Cooperative-YE 12/31/14
KAUAI ISLAND UTILITY COOPERATIVE INCOME STATEMENT
2010-2014
2014 2013 2012 2011 2010
KWH SALES
REVENUE ENERGY SALES FUEL OIL CLAUSE TOTAL (2+3) OTHER UTILITY REVENUE TOTAL OPERATING REVENUE (4+5)
OPERATING EXPENSES FUEL OTHER PRODUCTION DISTRIBUTION CUSTOMER SALES ADMINISTRATIVE & GENERAL TOTAL OPERATION (8 TO 12)
MAINTENANCE EXPENSES PRODUCTION DISTRIBUTION GENERAL TOTAL MAINTENANCE (14 TO 16) TOTAL OPERATION & MAINTENANCE (13+17)
TOTAL OPERATING EXPENSES (7+18)
DEPRECIATION & AMORTIZATION TAXES OTHER THAN INCOME INCOME TAXES INCOME TAXES DEFERRED TOTAL OPERATING EXPENSES (19 TO 23)
OPERATING MARGINS (6-24)
429,923,505 431,478,196 433,159,069 434,745,062 434,533,319
$ 150,650,475 $ 152,316,663 $ 155,206,066 $ 154.177,427 $ 123,476,659 28,100,951 32,156,241 33,092,491 28,233.924 31.618,442
178,751,426 624,043
184,472,904 241,384
188,298,557 153,179
182.411.351 168.047
155,095,101 158,942
$ 179,375,468 $ 184,714,288 $ 188,451,736 $ 182,579,398 $ 155.254.043
84,821,208 18,027,722
1,682,630 2,885.163
12,784,902
91,876,184 15,752,318
1,590,484 3.108,046
15,318,293
94,032,883 14,632,559
1,435,628 3,347,738
13,540.032
90.533,608 14.534.759
1.523,090 3.161,456
14,395,351
68,899.697 10.743,024
1,720,822 3,218,484
13,750.175 $ 35,380,417 $ 35,769,141 $ 32,955.956 $ 33.614,656 $ 29,432,505
7,740,123 $ 3,526,457
568,206
7,709,746 S 3,269,016
511,493
9,437,765 $ 3,135,864
414,131
8,032,024 $ 3,577,204
371,323
7,169,914 3,207,392
401,828 $ 11,834,786 $ 11,490,255 $ 12,987,761 $ 11,980,552 $ 10,779,134 $ 47,215,203 $ 47,259,396 $ 45,943,716 $ 45.595,208 $ 40,211,639
$ 132,036,411 $ 139,135,580 $ 139,976,599 $ 136,128,815 $ 109,111,336
14,615,042 15,095,024
13,850,874 15,540,946
13,434,517 15,782,639
13,372,215 15,288,561
14,595,414 13,047,862
$ 161,746,477 $ 168,527,400 $ 169,193,755 $ 164,789,592 $ 136,754,612
$ 17,628,992 $ 16,186,888 $ 19,257,981 $ 17,789,806 $ 18,499,431
MISCELLANEOUS INCOME-NET MISCELLANEOUS INCOME DEDUCTIONS TOTAL UTILITY INCOME (25+26-27)
INTEREST EXPENSE INTEREST DURING CONSTRUCTION AMORT. DEBT PREMIUM & EXPENSES BOND INTEREST SHORT TERM INTEREST LONG TERM INTEREST OTHER INTEREST EXPENSE TOTAL (29 TO 34)
$
$
$
(206,509) 61,411
17.361,071
----
7,362,128 550,062
7,912,190
$
S
3
1,265.352 104,404
17,347.836
----
7,737,757 456,024
8,193,781
$
$
$
819,452 103,249
19.974,183
----
8.335,362 547,978
8.883,340
$
$
$
752,914 86.208
18,456,512
----
8,668.886 130,754
8,799.640
$
$
$
763,172 81,283
19,181,320
----
9.061,322 163,876
9.225,198
NET MARGINS (28-35) CAPITAL CREDITS & PATRONAGE DIVIDENDS AVAILABLE FOR COMMON (36-37)
NET MARGINS (38-39)
$ 9,448,881 $ 9,154.055 $ 11.090,843 $ 9.656,872 $ 9.956,122
9,448,881 9,154,055 11,090,843 9,656,872 9,956,122
$ 9,448,881 $ 9,154,055 $ 11,090,843 $ 9,656,872 $ 9,956,122
1of5
2014 KEPUCSyrstat-altachmentxIs
Kauai Island Utility Cooperative-YE 12/31/14
KAUAI ISLAND UTILITY COOPERATIVE BALANCE SHEET
2010-2014
ASSETS & OTHER DEBITS
UTILITY PLANT UTILITY PLANT IN SERVICE UTILITY PLANT IN SERVICE PUC ADJ. CONSTRUCTION WORK IN PROGRESS DEPRECIATION
TOTAL UTILITY PLANT
CURRENT & ACCRUED ASSETS CASH IN BANK & TEMPORARY INVESTMENTS INVESTMENT IN KRS1 / KRS2 / KRS2H ACCOUNTS RECEIVABLE ACCUM. PROV. FOR UNCOLLECTIBLE ACCT INVENTORY PREPAYMENTS INTEREST RECEIVABLE ACCRUED REVENUES DEFERRED ENGINE OVERHAUL EXPENSE DEFERRED DEBITS - MISCELLANEOUS REGULATORY COMMISSION EXPENSES
TOTAL CURRENT & ACCRUED ASSETS
TOTAL ASSETS & OTHER DEBITS
2014 2013 2012 2011 2010
$ 494,546.877 $ 490,203,777 $ 475,164,335 S 464,854,370 $ 450,876,105
7,964.338 8,977,876 18,901,804 13,452,399 11,789,712 253,404,524 245,585,999 238,615,696 230,027,434 221.234,482
$ 249,106,691 $ 253,595,654 $ 255,450,443 $ 248,279,335 $ 241,431,335
$ 22,553,489 $ 9,568,779 $ 5,277,933 $ 4,630.648 $ 7,342,947 37.873,426 10,765,098
(592,145) 14,396,537 1.147,130
-7,091,703
4,053,324 3,477,423
$ 100,765.984
$ 349,872,674
9,593,497 13,917,090
(537,627) 15,377,024 1,195.076
-8,039,369
3,972.754 3,432,477
$ 64,558,438
$ 318,154,093
8,052,200 14,802,777
(468,161) 14,788,423 1,206,207
-8,927,119
3,390,610 3,696,457
$ 59,673,565
$ 315,124,007
5,593,493 12,618,923
(454.699) 14,032,643
986,557
(1) 8.058,573
2,012,647 3,432,910
$ 50,911,694
$ 299,191,029
1
10,405.847 (711.029)
14,217.398 954,729
9 8,167,434
1,840,665 4,494,625
$ 46,712.625
$ 288,143,960
LIABILITIES & OTHER CREDITS
PATRONAGE CAPITAL & MEMBERSHIPS
LONG TERM DEBT FIRST MORTGAGE BOND LONG TERM NOTE
TOTAL LONG TERM DEBT
CURRENT & ACCRUED LIABILITIES CURRENT PORTION: NOTES PAYABLE/LTD NOTES PAYABLE ACCOUNTS PAYABLE METER DEPOSITS TAXES ACCRUED INTEREST ACCRUED TAX COLLECTION PAYABLE MISCELLANEOUS DEFERRED CREDITS CUSTOMER ADVANCE FOR CONSTRUCTION CONTRIBUTION IN AID OF CONSTRUCTION
TOTAL CURRENT & ACCRUED LIABILITIES
TOTAL ACCUM DEFERRED INCOME TAXES
TOTAL LIABILITIES & OTHER CREDITS
$ 93.019,262 $ 85,289,477 $ 78,546,204 $ 69,347.485 $ 60,918,555
$ - 5 - $ - $ - $ 175,433,686 177,468,620 177,645.916 178.291,187 188,520.589
$ 175,433.686 $ 177,468,620 $ 177,645.916 $ 178.291,187 $ 188,520,589
$ 12,186,909 $ 11,291,699 $ 10.395,000 $ 9,661,000 $ 9,261,000 39,000.000 6,036.260 1,514.639 9,406.315
67.528 0
2,690.295 9,864.297
653,485
"
11,311,000 6,038,393 1,281,238 9,880,147
83,250 0
4,024,483 9,372,956 2,112,830
"
14,178,000 6,250,710 1,272,909
10,231,266 149,701
0 4,673,060 8,352,542 3,428,700
8,700,000 7,980,716 1,248,210 9,684,268
137,868
4,496,837 6,177,035 3,466,422
-7,337,948 1,048,833 7,203,240
96,417
4,129,104 5,963,306 3,664,968
$ 81,419,726 $ 55,395,996 $ 58,931,887 $ 51,552,357 $ 38,704.816
$ 349.872,674 $ 318,154,093 $ 315,124,007 $ 299.191,029 $ 288,143,960
2 of 5
2014 KEPUC5yrstat-attachment.xls
Kauai Island Utility Cooperative-YE 12/31/14
KAUAI ISLAND UTILITY COOPERATIVE MISCELLANEOUS DATA
2010-2014
KWH SALES
RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION
TOTAL KWH SALES
REVENUES
RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION
TOTAL REVENUES
CUSTOMERS (a 12/31
RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION
TOTAL CUSTOMERS
AVERAGE REVENUE PER KWH
RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION
TOTAL
AVERAGE RATE-CENTS PER KWH SOLD
RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION
TOTAL
2014
159,151,338 110,613,593 157,265,062
2,768,844 124,668
2013
157,866,897 110,474,691 160,114.483
2,758,039 264,086
2012
157,278,152 111,271,001 161,674,670
2,759,910 175,336
2011
159,071,128 111,649,769 161,202,956
2.716.421 104,788
2010
159,425,808 112,717,079 159.512,556
2,729,677 148,199
429,923,505 431,478,196 433,159,069 434,745,062 434,533,319
$ 68,457,684 $ 69,870,560 $ 70,785,142 $ 69,031,915 $ 58,599,648 47,028,867 61,631.381 1,594,732
38,762
$ 178,751,426
28,606 4,594 123
3,616 3
36,942
$ 0.43014 0,42516 0.39189 0.57596 0.31092
$ 0.41577
$ 43.014 42.516 39.189 57.596 31,092
$ 41.577
48,310,631 64,592,257 1,616,931
82,525
$ 184,472,904
$
$
$
$
28,371 4.611 121
3,608 3
36,714
0.44259 0.43730 0.40341 0.58626 0.31249
0.42754
44.259 43.730 40,341 58.626 31,249
42.754
49,522,604 66,285,770 1,647,005
58,037
$ 188,298,557
$
$
$
$
28.215 4,541 127
3,587 3
36,473
0.45006 0.44506 0.40999 0.59676 0.33100
0.43471
45.006 44.506 40.999 59.676 33.100
43.471
47,953,957 63,818,131 1,573,722
33,626
$ 182,411,351
S
$
$
$
28,041 4,519 132
3.574 3
36,269
0.43397 0.42950 0.39589 0.57934 0.32090
0.41958
43.397 42.950 39.589 57.934 32.090
41.958
41,245,256 53,833,261 1,381,050
35,886
$ 155,095,101
$
$
$
S
27,834 4,540 124
3,561 3
36,062
0.36757 0.36592 0.33749 0.50594 0.24215
0.35692
36.757 36.592 33.749 50.594 24.215
35.692
3 of 5
2014 KEPUC5yrstat-atiachment.xls
Kauai Island Utility Cooperative-YE 12/31/14
KAUAI ISLAND UTILITY COOPERATIVE ADMINISTRATIVE & GENERAL EXPENSES
2010-2014 2014 2013 2012 2011 2010
ADMINISTRATIVE & GENERAL SALARIES $ 4,301,342 $ 6,797,777 $ 6,018,128 $ 5,437,399 $ 5,062,861
OFFICE SUPPLIES & EXPENSES
ADMIN OFFICE MAINTENANCE EXPENSE
OUTSIDE SERVICES EMPLOYED
PROPERTY INSURANCE
INJURIES & DAMAGES . . . . .
EMPLOYEE PENSIONS & BENEFITS . . . . .
REGULATORY COMMISSION EXPENSE 1,368,067 1,656,869 1.541,300 2.394.384 2.414,081
MISCELLANEOUS GENERAL EXPENSE 983.686 866,158 1.105,510 1,176,941 868,178
RENTS 1,324,307 1.313,679 1.313,679 1,310,312 1,402,512
1,025,487
568.206
3,132,492
649,520
879,967
511.493
3,188,342
615,501
897,594
414,131
2,134,784
529,038
775,972
371,323
2,813,067
487,276
1,178,277
401,828
2,256,744
567,522
TOTAL ADMINISTRATIVE & GENERAL EXPENSES $ 13,353,108 $ 15,829,786 $ 13,954.163 $ 14.766,674 $ 14,152,002
4 of 5
2014 KEPUCSyrstat-ettachmentxIs
KAUAI ISLAND UTILITY COOPERATIVE TAXES OTHER THAN INCOME TAXES
2010-2014
Kauai Island Utility Cooperative-YE 12/31/14
STATE TAXES
FRANCHISE UNEMPLOYMENT P.U.C. TAX CONSUMPTION AND USE TAX / PROPERTY
FEDERAL TAXES
PICA UNEMPLOYMENT
TOTAL TAXES OTHER THAN INCOME TAX
2014 2013 2012 2011 2010
$ 4,479.935 $ 4.613,303 $ 4,710.364 $ 4,559,912 $ 3,876.767
10,545,767 69,322
10,859,716 67,927
11,088,198 (15,923)
10,734,032 (5,383)
9,125,908 45,187
$ 15,095,024 $ 15,540,946 $ 15,782,639 $ 15.288,561 $ 13,047,862
KAUAI ISLAND UTILITY COOPERATIVE MISCELLANEOUS DATA
2010-2014
2014 2013 2012 2011 2010 NET KWH GENERATION
STEAM DIESEL/NAPHTHA HYDROS TOTAL NET GENERATION
NET PURCHASED POWER
LINE LOSSES - %
SYSTEM USE - %
SYSTEM PEAK LOAD - MW
ANNUAL SYSTEM LOAD FACTORS
5,073,313 368,319,156
7,878,602 381,271,071
64,518,314
3.19207
0.42908
72.91
0.6980
8,764,006 385,732,735
8,441,975 402,938,716
48,830,730
4.12922
0.40619
72.96
0.7069
11,375,650 406,435,874
7,917,610 425,729,134
37,954,172
3,67908
0.37564
73.06
0.7245
20,278,790 401,622,309
7,270,484 429,171,583
36,596,458
3.63288
0.37122
72.05
0.7380
10,388,466 406.728,948
8,227,307 425,344,721
27,413.670
3.67752
0.37024
76.54
0.6753
5 of 5
2014 KEPUC5yrstat-attachment.xls