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<br />PRELIMINARY DRAFT
<br />
<br />EXHIBIT 2
<br />(See Exhibits 2A and 28 for a supplemental breakdown of this summary)
<br />
<br />Colorado River storage Project and Participating Projects
<br />Income and Expense Summary
<br />FY 1994
<br /> Thousands of Dollars
<br /> 9/30/94 9/30/93 Chanae
<br />Income
<br />Repayment Contracts 34,701 3,790 30,911 1/
<br />Operating Income
<br />Power 113,190 113,815 (625) 21
<br />M&I Water 1,831 1,041 790
<br />Non~Operating Intorne (69) 1,105 (1,174) 31
<br />Total Income 149,653 119,751 29,902
<br />Expense
<br />Non-Reimbursable Expenses 33,372 45,339 (11,967) 4/
<br />Reimbursable Operating Expenses
<br />Power
<br />Operation and Maintenance 65,772 47,568 18,204 5/
<br />Depreciation and Replacement 20,381 6,244 14,137
<br />Interest on Inve6tment 35,957 42,418 (6,461)
<br />M&I Water
<br />Operation and Maintenance 98 111 (13) 6/
<br />Interest on Investment 325 331 (6)
<br />Accrued Unused Annual Leave M Unfunded (1,355) 255 (1,610)
<br />Total Expense 154,550 142,266 12,284
<br />Net Income (4,897) (22,515) 17,618
<br />Prior-year Adjustment - Interest on Investment (38,200) 0 (38,200) 71
<br />Prior-year Adjustment - Depreciation (178,287) 0 (178,287) 8/
<br />Adjusted Net Income (221 ,384) (22,515) (198,869)
<br />
<br />11 Includes a $33.5 million lump sum repayment of Jordan Aqueduct (CUP - Bonneville Unit).
<br />
<br />21 Power revenues tor FY~93, as shown here, are $30.9 million less than power revenues reported on the 1993 CRSP Annual
<br />Report. This difference is due to the tact that revenues transferred from Western to Reclamation were counted twice on
<br />on the 1993 report, thereby resultin~ in power revenues being overstated by $30.9 million.
<br />
<br />3/ Includes a $473,000 decrease due to write off of several Reclamation Reform Act (RRA) bills (Bostwick park Project).
<br />
<br />41 The $33.4 million Shown for FY-94 Includes $21 million in Glen Canyon EIS, related studies, and purchased power costs,
<br />which are presently,belng classified as non-reimbursable for FY-94; however, this classification is subject to change, since
<br />a final determlnatlpn has not yet been made as to whether these costs are reimbursable or non~reimbursable. The $45.3
<br />million shown for FY~93 includes $38.3 million in Glen Canyon EIS and related studies costs for FY.83 through FY-92, which
<br />were reclassified from reimbursable to non-reimbursable per Section 1807 of P.l. 102-575.
<br />
<br />5/ The $47,6 million shown for FY-93 includes a $37.7 million credit for the power portion of the reclassification of prior-year
<br />Glen Canyon EIS .and related studies costs described in footnote 4 above. This $47.6 million also includes $15.7 million in
<br />Glen Canyon EIS, related studies, and purchased power costs, which are currently being classified as reimbursable for
<br />FY ~93. However, this classification is also subject to change, depending on the outcome of the final determination
<br />described in footnote 4 above.
<br />
<br />61 The $111 ,000 shown for FY-93 Includes a $595,000 credit forthe M&I portion of the reclassification of prior-year Glen
<br />Canyon EIS and related studies costs described in footnote 4 above.
<br />
<br />7/ During FY-94, Western reclassified $38.2 million of Interest During Construction to Interest on Investment.
<br />
<br />8/ In FY-94, both Reolamatlon and Western changed their method of accounting for depreciation from compound-interest
<br />to straight-line, as explained In Finance and Accounting Services Directive No. CST-21-94, dated 9/22/94.
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