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Chairman Scurlock emphasized thatl,the point we are trying to make is if for example they have $100,900 escrowed for the expansion of the Vero system, are we tracking it to see if, in fact,.when that area is developed thatllthey are going in and invading those escrowed monies to makel,the improvements which would make it a contribution in aid of',construction? Attorney Shandloff pointed out that the escrowed funds do not have any real bearing on the pass through request, but confirmed that it would apply when they come back for a rate case. The County Utility Dept. would be investigating GDU to see whether or not funds that have been escrowed for Vero go to Vero. Mr. Wheeling explained that the money is held in escrow in a New York money center bank for the benefit of the customers as construction is completed. To the best of his knowledge, he did not believe it is GDC's money or included in their balance sheet; it is GDU's money until the construction occurs and is withdrawn. Then it becomes a contribution in aid of construction, and shown as a reduction in rate base on the annual report filed with Indian River County. Mr. Rankel wished there was some way to get GDU to put out a separate report for each utility, because in their total report, they are making money. .They must be making money some place. They just went to a rate increase up in Sebastian because they are losing money there; they are losing money in Vero; they are losing money every place on the east coast, but some place they are making money. Mr. Wheeling admitted that they were making money on their more mature systems. He pointed out that they do file on an individual basis with the County, and believed their annual report would break out the Vero operat1ons. Chairman Scurlock advised that the County Utilities Dept. would have that information if Mr. Rankel wished to review it. Apparently, it is not something that GOU mails directly to individual customers. 19 BOOK 65' P,nE 7.98 I