C150670B Financials 2010

• Contract/PO #: C150670B
• Contractor Name: Ute Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Report

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Management's Discussion and Analysis
As of and for the Years Ended December 31, 2010 and 2009 1
years. Non-operating expenses are down $0.4 million due to lower interest expense from lower debt
balances and lower interest rates from refunding a bond issue in 2009. 1
CAPITAL CONTRIBUTIONS
(in thousands)
Years ended December 31, 2010 2009 2008
Developer donated lines and system upgrades $ 799 I $ 2,504 I $ 3,103
Capital contributions result from the donation of line extensions, subdivision lines and other system
assets from developers. Changes in amounts from year to year are dependent on the amount of
residential and commercial development within the District.
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CAPITAL ASSETS AND DEBT ADMINISTRATION
(in thousands) I
Capital assets, net of depreciation
Capital assets had a net increase (additions, retirements and depreciation) of$1.4 million and
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$8.7 million in 2010 and 2009 respectively.
Balances for years ended December 31, 2010 2009 2008
Source of supply $ 77,054 $ 78,186 $ 78,155 II
Water treatment 16,590 17,250 10,534
Transmission and distribution 71,232 70,732 69,392
General plant and equipment 8,957 4,212 4,407
Construction in progress 1,933 4,005 3,198
$ 175,766 $ 174,385 $ 165,686 1
The major capital asset additions were as follows: 2010 20. 09
Transmission and distribution mains $3.6 million $4.1 million
Other buildings and improvements 3.0 million 2.6 million
Vehicle and equipment purchases 0.5 million 0.1 million
Reservoir permitting, design and expansion 0.3 million 0.2 million
Treatment plant upgrades and improvements 0.1 million 5.3 million
Land and water rights 0.1 million 1.3 million I
Meter and service installations 0.1 million 0.1 million
Additional information regarding capital assets is available in the footnotes to the financial statements 1
(see page 21).
DEBT OUTSTANDING
In 2009 the District issued $15.1 million in Series 2009 Water Refunding Revenue bonds to advance
refund its Series 2000 bonds. No additional notes payable were incurred in 2009. In 2009 the district
reduced the combined balance of bonds and notes payable by $1.8 million. No additional bonds or
notes payable were incurred in 2010. During 2010, the District reduced the balance of bonds and
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6 Ute Water Conservancy District