12/11/1979 - Laserfiche WebLink

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CHAIRMAN WODTKE STATED THAT HE WISHED TO HAVE SOME SIMPLE INFORMATION AS TO WHAT GENERAL DEVELOPMENTS ORIGINAL COST WAS FOR THE WATER PLANT, THE IMPROVEMENTS THEY HAVE MADE, AND THE COST FOR THE SEWER PLANT, WATER PLANT AND LINES. HE NOTED THAT WITHOUT A BALANCE SHEET, WE DONT HAVE ANYTHING TO START WITH. MS. ROEN STATED THAT SHE FELT EXHIBIT 3, PAGE 19, MAY BE WHAT THE CHAIRMAN IS LOOKING FOR IN TERMS OF A BALANCE SHEET. MR. FANCHER AGREED THAT THE ORIGINAL COST OF THE VARIOUS COMPONENTS AND EQUIPMENT INCLUDED IN THE VERO HIGHLANDS AND SHORES SYSTEM ARE INCLUDED IN THE COMPOSITE BALANCE SHEET ON PAGE 19 OF EXHIBIT 3. CHAIRMAN WODTKE ASKED IF ON PAGE 42 AND 43, THE COLUMN ON THE RIGHT HAS THE WRONG YEAR ON IT, AND MR. FANCHER AGREED THAT IT SHOULD BE DECEMBER 31, 1979. HE NOTED THAT IT IS CORRECT AT THE TOP OF THE EXHIBIT. THE CHAIRMAN CONTINUED TO DISCUSS FIGURES FOR 1977, AND ASKED IF THERE ARE ANY COSTS THAT COULD BE ATTRIBUTED TO OPERATION DURING THE TIME OF BUILDING THAT MIGHT NOT BE OPERATIONAL EXPENSES. MR, FANCHER STATED THAT THE COSTS INVOLVED IN THE BUILDING OF THE PLANT WERE CAPITALIZED. CHAIRMAN WODTKE ASKED WHAT AMOUNT THE UTILITY COMPANY PAYS ON ADMINISTRATIVE OR GENERAL EXPENSES TO THE PARENT COMPANY. MR. FANCHER STATED THAT THERE IS A FEE OF $1,200 FOR WATER AND $700 FOR SEWER OPERATIONS, AND FOR THAT FEE, THE UTILITY SYSTEM RECEIVED SERVICES INCLUDING LEGAL, ACCOUNTS PAYABLE, COMPUTER SERVICES FOR BILLING, BILLING ANALYSIS REPORTS AND OTHER ADMINISTRATIVE AND GENERAL EXPENSES. COMMISSIONER LOY ASKED IF THESE FEES WERE PER MONTH, AND MR. FANCHER REPLIED THEY WERE PER YEAR. THE CHAIRMAN THEN BROUGHT UP TAP -IN FEES, AND MR. FANCHER STATED THAT THEY ARE INCLUDED IN THE RATE BASE UNDER CONTRIBUTIONS TO CONSTRUCTION, AND NO DOLLARS ARE BOOKED UNTIL TIME OF CONSTRUCTION. CHAIRMAN WODTKE ASKED IF THEY REDUCE THE BASE BY THE AMOUNT THEY RECEIVE, AND MR. FANCHER STATED THAT THEY DO. HE CONTINUED THAT 31 DEC 111979 BOOK, PAGF�o%