nnnnnnnnnnnnnnnnnnnnnconnecting with our members 2008 in ... · a letter from the president &...
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2008 in Review n n n n n n n n n n n n n n n n n n n n n Connecting With Our Members
AMEA-Sylacauga Plant
Contentsn 1 In Memoriam - Wayne Duke
n 2 A Letter from the President & CEO
n 3 Reflections of 2008
n 6 Alexander City
n 7 Dothan
n 8 Fairhope
n 9 LaFayette
n 10 Lanett
n 11 Luverne Electric Board
n 12 Opelika
n 13 Piedmont
n 14 Riviera Utilities
n 15 Sylacauga Utilities Board
n 16 Utilities Board of Tuskegee
n 18 AMEA Board of Directors
n 19 AMEA Management Staff
n 20 Financial Statements
Photo Credits:
Front Cover:“Blue Bell Pavilion” by Brian Schoenhals, The Daily Home“Just Before Sunrise – Children’s Island” by Mitford Fontaine “Fall Flowers Downtown” by the Eastern Shore Chamber of Commerce
Page 8 – Fairhope “Heron Sunset” by Louis Mapp
Other photos provided by chambers of commerce in Alexander City, Dothan, Eastern Shore and Sylacauga; Regina Grayson, The Luverne Journal; and AMEA Members.
T he work and contributions of an individual are like the bricks and beams in a building. A person might depart, but their work lives
on. Much like a building, when someone leaves an organization, their contributions continue long after they have departed.
Such is the case for the Alabama Municipal Electric Authority (AMEA) and the public power industry. On Dec. 25, 2008, AMEA lost a longtime friend and supporter when Wayne Duke of Sylacauga, AMEA’s Chairman of the Board, died at his home. He is survived by his wife of 45 years, Connie Sue Duke; four daughters; eight grandchildren; and several nieces, nephews, and special friends.
Wayne began his tenure on the AMEA Board in August 1992. He served as Chairman of the Board from 2006 until Dec. 2008. Duke was also a member of the Sylacauga Utilities Board, B.B. Comer Memorial Library Foundation, and Superior Bank Board of Directors. He was a member and deacon of Sylacauga Church of Christ.
Brick by brick, you might say, Wayne helped build our organization with integrity and vision. His experience, wisdom, dedication and concern for our
Members and their communities cannot be easily replaced. Although we mourn his loss, we continue to celebrate what Wayne leaves behind – strong leadership that has helped our Members grow and flourish.
Life is like tossing a pebble into a quiet stream and watching the ripples spread over the water. What we do with our lives is important because, while it might seem like we are just little pebbles dropping in a big universe, our deeds have lasting effects. The influence of our actions spread over time, just like those ripples.
The contributions of Wayne Duke cannot just be measured by what he did at a moment in time, a pebble tossed in water, if you will. His work helped build a larger entity that will continue to provide a reliable and economical source of electric power to our Members and their customers.
It is now our job to enhance the legacy he has left us. We will continue to build new bricks on the foundations he erected as we face new challenges. And we will continue to grow and enhance the quality of life to our Members and their communities because Wayne helped show us the way.
In MemoriamWayne Duke • 1940-2008
Wayne Duke
We dedicate this 2008
in Review to Wayne’s
memory and to those
pioneers before him who
left an enduring legacy.
1
A Letter from the President & CEOn n n n n n n n n n n n n n n n Connecting With Our Members
The Alabama Municipal Electric Authority’s (AMEA) connections go far
beyond electricity. The health and vitality of our company is intertwined
with that of our 11 Members and the communities and customers they serve.
Maintaining these strong connections is our commitment – and our responsi-
bility.
We believe that we have a responsibility to our Members and their com-
munities – and to the generations yet to come. As we plan today to meet
growing energy demands, we must stay constantly aware of the ways our
decisions affect both the present and the world we will leave behind. We call
it leadership legacy – leaving it better than we found it. After all, it is our con-
nections to the people and places we serve that matter most.
Connecting with our Members begins with the delivery of safe, affordable
and reliable power. But there’s far more to it than that. It is our responsibility
to generate power in ways that minimize risk and price volatility. It is also
our responsibility to use a balanced approach, including energy efficiency
and conservation, to meet growing energy demand in the future.
AMEA has been a part of life for its 11 Members and their customers from
northeast Alabama to the Alabama Gulf Coast for 27 years. So our connec-
tions to the communities we serve run deep. That’s why we consistently sup-
port our Members through education and economic development initiatives
– all of which increase opportunities and add to the overall quality of life in
the places we call home.
Our responsibilities to our Members and to the environment will always
be connected. Producing the affordable, reliable power our Members
need must be done with minimal environmental impact.
Over these many years, AMEA has found that issues which impact electric
costs are caused by outside events. That’s why we have strong connections
with our state and national leaders to encourage legislation that is balanced
between protecting the environment and the impact of potential costs to
AMEA’s Members and their customers. At AMEA, we are committed to con-
tinuous improvement in environmental quality and to being good stewards
of the natural resources we share.
We believe that it is imperative to pursue the highest standards of perfor-
mance, ethics and accountability in every aspect of our business operations.
This is what our Members expect from us and what we strive to achieve
every day.
These connections motivate us to champion the cause of public power,
rally us to plan for a reliable and competitive future, and encourage us to
achieve a standard of
excellence worthy of any
organization. After all, our
standard of excellence is
measured by those we serve
and are connected to –
our Members.
Fred Clark
President & CEO2
A Letter from the President & CEOn n n n n n n n n n n n n n n n Connecting With Our Members
Reflections of 20082008 in Review n n n n n n n n n n n n n n n n n n n n n n n n n n n
3
AMEA Launches Partnership with ENERGY STAR®. In an effort to help Members promote the benefits of energy-efficient homes, build-ings, products and services, AMEA entered into an official partnership with ENERGY STAR® in January 2008. ENERGY STAR is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping us all save money and protect the environment through energy-efficient products and practices. Throughout the year, AMEA has worked diligently to provide its Members and their customers with re-sources to help maximize energy dollars. Some of these efforts have been demonstrated in Alabama Currents magazine, Energy Depot®, monthly energy-efficiency public service announcements, and the American Public Power Association (APPA) Consumer Information Service CD. Through the partnership, AMEA and its Members promote energy efficiency as an easy and desirable option for organizations and consumers to help reduce pollution, protect the global environment, and save on energy bills.
AMEA Board Approves Load Growth Contract with Alabama Power. The AMEA Board of Directors approved a proposed Agreement for the Supply of Supplemental Capacity and Energy with Alabama Power Company (APCo) during its regular February 2008 board meeting. The agreement was made official on February 20, when AMEA staff and Board Officers met with APCo and Southern Wholesale Energy representatives to execute the contract. The agreement provides the additional capacity and energy to meet the load growth of AMEA’s Member systems for the 2011-2015 timeframe.
AMEA Upgrades Energy Depot® for Members. In February 2008, AMEA worked with its 11 Member cities to upgrade Energy Depot® for Homes to the latest software release on each Member’s site. Energy Depot is hosted by Enercom, a Hometown Connections® partner. Energy Depot is a one-stop shop of resources and online tools to help your customers better understand and manage their home energy use and costs. The re-lease offers many new features over the previous software, including new web page graphic design; user choice of Full or EZ audits; and, ability to run and save multiple home energy audits, just to name a few.
AMEA Hosts First Power Supply Conference. AMEA’s first Power Supply Conference was held in February 2008 in Fairhope. Topics in-cluded: Electricity Technology in a Carbon-Constrained World; Drought Impact on the Southeastern Power Administration (SEPA); Issues Impact-ing Fuel Costs; State Legislative Update: Comprehensive Energy Legisla-tion; Federal Legislative Update: Legislation Impacting Power Generation (Climate Change Legislation and Mandated Renewable Portfolio Stan-dards); and a Review of AMEA’s first draft of the 2009-2011 Strategic Plan. The purpose of the conference is to review issues of importance to AMEA’s Members. Those in attendance were Member cities’ governing bodies, in-cluding city council members and utility board members, as well as senior utility management staff.
AMEA Scholarship Program Helps High School Seniors. The AMEA Scholarship Program enjoyed another successful year in 2008. In
Reflections of 2008n n n n n n n n n n n n n n n n Connecting With Our Members
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May, approximately $80,000 was distributed to students pursuing four-
year degrees and two-year technical degrees. Each year, AMEA and its 11
Member cities make available 22, $2,500 scholarships (two scholarships
per Member city), and 11, $2,500 technical scholarships (one technical
scholarship per Member city), for a total of 33 scholarships. To be eligible
for either of AMEA’s scholarships, a student’s family must receive electric
service from a Member’s electric utility and the student must attend an
Alabama college or university.
Athens Joins AMEA Affiliate Member Program. In June 2008, the
City of Athens Utilities joined the list of AMEA Affiliate Members, bring-
ing the total to 10. Besides Athens Utilities, AMEA’s Affiliate Members
include Cullman Power Board, Florence Utilities, Fort Payne Improve-
ment Authority, Huntsville Utilities, Marshall-DeKalb Electric Coopera-
tive, Muscle Shoals Electric Board, Russellville Electric Board, Scottsboro
Electric Power Board, and Tuscumbia Utilities. The purpose of AMEA’s
Affiliate Member program is to create a foundation for relationships with
non-AMEA municipal utilities in order that AMEA may be 1) a potential
future resource of power supply should it benefit AMEA to do so, or 2)
a resource for those utilities regarding matters of mutual interest and
thereby build a base of support in general for matters of importance to
AMEA.
AMEA Facilitates Formation of Distribution Services Working Group. During the June 2008 Member Managers Meeting, several attend-
ees expressed their desire that AMEA provide and/or facilitate the pro-
curement of certain distribution services that could not be obtained by
a sole Member distribution system due to cost and lack of manpower. In
response to the Members’ inquiry and direction, AMEA plans to facilitate
the organization and on going work of a Distribution Services Working
Group. The purpose of the group is to identify those distribution services
that are needed by AMEA’s Members, and possibly AMEA’s Affiliate Mem-
bers, which satisfy a verifiable need and can produce substantial savings
to the distribution system through joint participation.
Tom Bartels Retires After 21 Years of Service. Tom Bartels, Di-
rector of Marketing and Special Projects, said goodbye to AMEA and its
Members July 1, 2008 as he retired from the organization after 21 years
of service. AMEA hosted a retirement reception honoring Bartels in June.
Bartels, who joined AMEA in 1987, has over 35 years of utility engineer-
ing and management experience in natural gas, water, and electricity at
the corporate and municipal levels.
AMEA Assists Members with Economic Development Initiatives. The AMEA Economic Development Program works with and supports the
efforts of our Members by enhancing existing industries and bringing in
new industry. AMEA provides no interest loans to Members through the
Capital Fund Program. In 2008, AMEA’s Capital Fund Program assisted
the City of Sylacauga with a new speculative building and the City of
Dothan with a facilities expansion for Wholesale Wood Products. Also in
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Reflections of 2008
5
2008, AMEA’s Economic Development Program provided grants to assist
with special economic development projects and events, including: the
City of Opelika for a special Korean Summer School to assist the many
relocated Korean families who are employed with the new Korean indus-
tries in the area; the City of Fairhope for the Festival of Flight; the City
of Foley for Familiarity Tours; the City of Piedmont for the Chief Ladiga
Trail; and, the City of Dothan for the development of new promotional
materials. AMEA also plays a vital role in supporting statewide recruit-
ing events and continues to build relationships with other utilities and
groups to provide opportunities for AMEA Members and the state.
AMEA Focuses on Energy Efficiency. During 2008, AMEA contin-
ued its efforts to explore best practices in the area of energy efficiency
on behalf of its Members. Efforts have included discussions with the
Alabama Department of Economic and Community Affairs (ADECA)
and Central Alabama Regional Planning and Development Commission
(CARPDC). ADECA’s Weatherization Program helps reduce energy costs
for low-income households by increasing the energy efficiency of their
homes, while ensuring their health and safety. On average, homes receiv-
ing weatherization services will see an average energy savings of $358 per
year. Weatherization focuses on the elderly, people with disabilities, fami-
lies with children, and households which are high energy users. Weath-
erization typically includes installing attic and wall insulation, repairing
leaky or broken windows and doors, sealing air leaks into the home,
testing home appliances for energy usage, heating and cooling system
tune-ups and repairs and replacing incandescent light bulbs with highly-
efficient compact fluorescent light bulbs. CARPDC has expressed an
interest in partnering with AMEA to seek grant opportunities for AMEA’s
Members which reach individual households. Additional benefits of these
initiatives will greatly enhance the ADECA’s Weatherization Program and
aid in bringing additional U.S. Department of Energy investment into the
state.
AMEA and Its Members Continue to Benefit from Hometown
Connections®. 2008 was a very good year for Hometown Connections,
with very strong performance from our core partners, such as Milsoft and
Survalent. The addition of Cogsdale and active discussions with AMR/
AMI vendors should position Hometown Connections very favorably in
addressing many of the most significant needs of public power.
AMEA Committed to Its Mission. AMEA provides a vital service –
electricity that powers our Member communities and the 350,000 cus-
tomers of those public power communities. AMEA’s planning always has
and always will focus on what its Members need – a reliable and eco-
nomical source of energy and the services and support to make Members
successful. Living up to its mission of providing an economical source
of electricity, AMEA’s average FY 2008 firm delivered cost of power to its
Members was 62.6 mills per kilowatt hour.
2008 in Review n n n n n n n n n n n n n n n n n n n n n n n n n n n
Connect
with Alexander City at
www.alexandercityonline.com
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Dothan
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Connect
with Dothan at
www.dothan.org
2008 in Review n n n n n n n n n n n n n n n n n n n n n n n n n n n
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Fairhope
8
Connect
with Fairhope at
www.cofairhope.com
LaFayetten n n n n n n n n n n n n n n n Connecting With Our Members
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Connect
with LaFayette at
www.lafayetteal.com
2008 in Review n n n n n n n n n n n n n n n n n n n n n n n n n n n
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Lanett
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Connect
with Lanett at
www.cityoflanett.com
Luverne Electric Boardn n n n n n n n n n n n n n n n Connecting With Our Members
Connect
with Luverne at
www.luverne.org
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Opelikan n n n n n n n n n n n n n n n Connecting With Our Members
Connect
with Opelika at
www.opelika.org
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Piedmontn n n n n n n n n n n n n n n n Connecting With Our Members
Connect
with Piedmont at
www.piedmontcity.org
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Connect
with Riviera Utilities at
www.rivierautilities.com
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Riviera Utilities
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Sylacauga Utilities Boardn n n n n n n n n n n n n n n n Connecting With Our Members
Connect
with Sylacauga at
www.sylacauga.net
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Utilities Board of Tuskegee
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Connect
with Tuskegee at
www.yourubt.net
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“We believe that it is imperative to pursue
the highest standards of performance, ethics and accountability
in every aspect of our business operations.
This is what our Members expect from us and
what we strive to achieve every day.”
Fred Clark President & CEO
2008 in Review n n n n n n n n n n n n n n n n n n n n n n n n n n n
Alexander Cityn n n n n n n n n n n n n n n n Connecting With Our Members
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Board of Directorsn n n n n n n n n n n n n n n n Connecting With Our Members
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Wayne DukeChairman
Sylacauga Utilities Board
Donald F. McClellanVice Chairman
City of Alexander City
Gary FullerSecretary-Treasurer
City of Opelika
Mike DuggerRiviera Utilities-Foley
Bill FannCity of Piedmont
Tim KantCity of Fairhope
Paul LeeCity of Dothan
Henry OsborneCity of Lanett
Morris TateLuverne Electric Board
Alan WillifordManager of Planning
and Engineering
Tim FosterManager of Operations
Raymond W. PhillipsManager of Compliance
and Special Projects
Anne GradyEconomic Development
Representative
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Dothan2008 Annual Report n n n n n n n n n n n n n n n n n n n n n n n
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PARTICIPATING MEMBERSCity of Alexander CityCity of DothanCity of FairhopeCity of LaFayetteCity of LanettCity of OpelikaCity of PiedmontThe Utilities Board of the City of FoleyThe Electric Board of the City of LuverneThe Utilities Board of the City of SylacaugaThe Utilities Board of the City of Tuskegee
CONSULTING ENGINEERSR.W. Beck, Inc.Orlando, Florida
GENERAL COUNSELBradley Arant Boult & Cummings, LLPMontgomery, Alabama
MILLER, BALIS & O’NEIL, P.C. Washington, D.C.
BOND FUND TRUSTEERegions BankBirmingham, Alabama
FINANCIAL ADvISORThe Frazer Lanier CompanyMontgomery, Alabama
AMEA Management Staff
Fred D. Clark, Jr.President & CEO
Thomas E. BartelsDirector of Marketing and Special Projects
J. Marlin WadeChief Financial Officer
Lisa M. MillerManager of Communications
and Marketing
Mike DuggerRiviera Utilities-Foley
Bill FannCity of Piedmont
Tim KantCity of Fairhope
Paul LeeCity of Dothan
Henry OsborneCity of Lanett
Morris TateLuverne Electric Board
Alan WillifordManager of Planning
and Engineering
Tim FosterManager of Operations
Raymond W. PhillipsManager of Compliance
and Special Projects
Anne GradyEconomic Development
Representative19
2008 in Review n n n n n n n n n n n n n n n n n n n n n n n n n n n
Alexander Cityn n n n n n n n n n n n n n n n Connecting With Our Members
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ASSETS 2008 2007
PROPERTY AND EQUIPMENT -- NET $35,606,393 $37,509,156
OTHER LONG-TERM ASSETS: Investments 404,267 369,794 Participant receivables 69,263 211,018 Capital fund program receivable 558,832 717,668
Total other long-term assets 1,032,362 1,298,480
SPECIAL FUNDS INVESTED: Debt service fund (restricted) 2,927,186 2,904,905 Reserve and contingency fund 50,000 50,000
Total special funds invested 2,977,186 2,954,905
CURRENT ASSETS: Funds invested: Revenue fund 21,608,490 17,211,085 Operation and maintenance fund 7,356,923 12,096,991 Special funds -- debt service fund (restricted) 243,859 243,841 Total funds invested 29,209,272 29,551,917
CURRENT ASSETS (CONT.) 2008 2007
Participant receivables 31,029,041 37,889,999 Other receivables 135,870 102,225 Materials and supplies 184,592 186,855 Capital fund program receivable 158,834 198,832 Prepaid expenses 118,763 112,308
Total current assets 60,836,372 68,042,136 DEFERRED COSTS: Regulatory assets 2,199,171 2,436,698 Unamortized bond issuance costs-net of accumulated amortization of $396,459 (2008) and $321,548 (2007) 1,129,308 1,204,219
Total deferred costs 3,328,479 3,640,917 TOTAL ASSETS $103,780,792 $113,445,594
Continued
n n n n n n n n n n n n n n n BALANCE SHEETS n n n n n n n n n n n n n n n
As of September 30, 2008 and 2007n n n n n n n n n n n n n n n BALANCE SHEETS n n n n n n n n n n n n n n n
As of September 30, 2008 and 2007
20
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Dothan2008 Annual Report n n n n n n n n n n n n n n n n n n n n n n n
21
LIABILITIES AND NET ASSETS 2008 2007 LONG-TERM DEBT -- Revenue bonds -- net of unamortized discounts $40,229,581 $41,129,271
REGULATORY LIABILITIES -- Net costs to be refunded to participants 23,952,917 20,481,282
CURRENT LIABILITIES: Current maturities of revenue bonds 910,000 885,000 Amounts payable under power supply contracts 21,486,774 34,578,874 Special funds -- accrued interest on revenue bonds 168,026 170,091 Other current liabilities 945,503 1,181,559
Total current liabilities 23,510,303 36,815,524
TOTAL LIABILITIES 87,692,801 98,426,077
NET ASSETS Invested in capital assets, net of related debt (5,533,188) (4,505,115) Restricted for debt service 3,171,045 3,148,746 Unrestricted 18,450,134 16,375,886 TOTAL NET ASSETS 16,087,991 15,019,517 TOTAL LIABILITIES AND NET ASSETS $103,780,792 $113,445,594
(Concluded)
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As of September 30, 2008 and 2007n n n n n n n n n n n n n n n BALANCE SHEETS n n n n n n n n n n n n n n n
As of September 30, 2008 and 2007
21
2008 2007
OPERATING REVENUES: Sales of electricity to participants $211,077,261 $180,085,458 Sales of electricity -- other 1,213,206 240,209 Total operating revenues 212,290,467 180,325,667
OPERATING EXPENSES: Partial requirements services: Purchased power 185,131,507 160,974,554 Transmission and distribution 12,123,937 12,111,703 Plant operating expenses 1,579,477 2,428,190 Cost of other electricity sales 949,660 148,612 Other operating and maintenance expenses 658,726 980,950 Administrative and general expenses 4,039,715 4,116,142 Amortization and depreciation 2,380,717 2,365,577
Total operating expenses 206,863,739 183,125,728
NET OPERATING GAIN (LOSS) 5,426,728 (2,800,061)
2008 2007
OTHER INCOME (EXPENSE): Interest expense -- net of capitalized interest (2,039,023) (1,865,082) Interest income 823,104 1,149,790 Investment gain (loss) 34,473 (5,750) Interest rate swap agreement gain 773,314 Other income 380,048 46,491 Amortization of bond discounts, issuance costs, and excess costs of bond refundings (85,221) (86,975)
Total other (expense) income (886,619) 11,788
CHANGES IN NET COSTS TO BE REFUNDED TO PARTICIPANTS (3,471,635) 3,768,635
EXCESS OF REVENUES OVER EXPENSES 1,068,474 980,362
NET ASSETS: Balance -- beginning of year 15,019,517 14,039,155 Balance -- end of year $16,087,991 $15,019,517
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETSn n n n n n n n n n For the Years Ended September 30, 2008 and 2007 n n n n n n n n n n
22
STATEMENTS OF CASH FLOWSn n n n n n n n n n For the Years Ended September 30, 2008 and 2007 n n n n n n n n n n
Dothan2008 Annual Report n n n n n n n n n n n n n n n n n n n n n n n
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2008 2007 OPERATING ACTIVITIES: Cash received from sales of electricity $219,241,145 $174,774,676 Cash paid under power supply contracts (211,474,070) (170,270,842) Cash paid to other suppliers and employees (6,536,573) (7,614,661) Refund of deposit 1,070,386 Other cash receipts 361,883 173,163 Net cash provided by (used in) operating activities 1,592,385 (1,867,278)
CAPITAL AND RELATED FINANCING ACTIVITIES: Payment for acquisition of property and equipment (148,168) (348,722) Proceeds from sale of emission allowances 282,000 Repayment of line of credit (511,700) Principal paid on revenue bond maturities (885,000) (865,000) Interest paid on revenue bonds (2,041,087) (2,061,847)
Net cash used in capital and related financing activities (2,792,255) (3,787,269)
2008 2007
INVESTING ACTIVITIES: Payments for purchases of funds invested (3,064,705) (3,090,381) Proceeds from sale of funds invested 3,064,686 3,090,444 Interest income received 859,821 1,434,042
Net cash provided by investing activities 859,802 1,434,105
NET DECREASE IN CASH AND CASH EQUIVALENTS (340,068) (4,220,442)
CASH AND CASH EQUIVALENTS –Beginning of year 29,296,991 33,517,433
CASH AND CASH EQUIVALENTS –End of year $28,956,923 $29,296,991
Continued
STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETSn n n n n n n n n n For the Years Ended September 30, 2008 and 2007 n n n n n n n n n n
STATEMENTS OF CASH FLOWSn n n n n n n n n n For the Years Ended September 30, 2008 and 2007 n n n n n n n n n n
23
2008 2007 RECONCILIATION OF NET OPERATING LOSS TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES: Net operating gain (loss) $5,426,728 ($2,800,061) Adjustments to reconcile net operating loss to net cash (used in) provided by operating activities: Amortization and depreciation 2,380,717 2,365,577 Noncash operating expense amount 13,085 Changes in assets and liabilities: Decrease (increase) in receivables 7,193,045 (5,470,207) Increase in prepaid expenses (6,455) (22,008) Decrease in deposits 1,070,386 Decrease (increase) in materials and supplies 2,263 (81,767) Decrease (increase) in amounts payable under power supply contracts (13,123,245) 3,064,625 Decrease in other liabilities (280,668) (6,908) Total adjustments (3,834,343) 932,783
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $1,592,385 ($1,867,278)
(Concluded) 24
A complete presentation of the 2008 Annual Financial Statements can be found at www.amea.com, Publications, Financial Reports.
STATEMENTS OF CASH FLOWS n n n n n n n n n n For the Years Ended September 30, 2008 and 2007 n n n n n n n n n n
n n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n nn n n n n n n n n n n n n n n n n n n n n n n n n n n n
Alexander City Dothan Fairhope LaFayette
Lanett
LuverneElectricBoard
Opelika Piedmont Riviera Utilities
Sylacauga UtilitiesBoard
Utilities Board of Tuskegee
Alabama Municipal Electric Authority804 South Perry Street
Montgomery, Alabama 36104(334) 262-1126 n Fax (334) 262-2267
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