Details for MILCROFTON UTILITY DISTRICT

MILCROFTON UTILITY DISTRICT
STATEMENT OF NET POSITION
September 30, 2020
ASSETS
Current assets:
Cash and cash equivalents
Accounts receivable - customer (less allowance of $0)
Other accounts receivable (less allowance of $0)
Inventory
Prepaid expenses
Total current assets

$

17,517,228
1,550,381
2,669,734
252,565
122,350
22,112,258

Restricted assets:
233,366
1

Cash and cash equivalents
Investments

-

Accrued interest receivable
Total restricted cash accounts

233,367

Capital assets:
Capital assets not being depreciated
Land and land rights
Construction in progress

167,369
3,324,844

Total capital assets not being depreciated

3,492,213

Capital assets being depreciated
Building
Water System
Site Improvements
Equipment
Furniture and Fixtures
Computer Software
Less accumulated depreciation and amortization

907,290
73,962,738
162,277
1,370,743
50,359
156,996
(19,500,806)

Total capital assets being depreciated

57,109,597

Total capital assets

60,601,810

Total assets

82,947,435

DEFERRED OUTFLOWS OF RESOURCES:
869,988

Pension related
Total deferred outflows of resources
Total Assets and Deferred Outflows of Resources
LIABILITIES
Current liabilities (payable from current assets):

869,988
$

83,817,423

Accounts payable and accrued expenses
Accrued interest expense
Temporary meter rental
Current portion of accrued compensated absences
Current portion of bonds and notes payable

$

Total Current liabilities (payable from current assets)

544,255
4,156
8,000
24,836
75,521
656,768

Long-term Debt

3,588,546

Other Noncurrent liabilities:
Net pension liability
Accrued compensated absences
Developer bonds payable

279,023
74,508
762,114

Total noncurrent liabilities

1,115,645

Total Liabilities

5,360,959

DEFERRED INFLOWS OF RESOURCES:
71,142

Pension related
Total deferred inflows of resources

71,142

Total liabilities and deferred inflows of resources

5,432,101

NET POSITION
Net investment in capital assets
Restricted for debt service
Unrestricted

56,937,743
233,367
21,214,212

Total net position
Total Net Position, Liabilities and Deferred Inflows of Resources

78,385,322
$

83,817,423

MILCROFTON UTILITY DISTRICT
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
September 30, 2020
Operating revenues:
Sales (net of allowance $2,912)
Other operating revenue
Total operating revenues
Operating expenses:
Water purchase
Plant salaries
Payroll taxes
Employee benefits
Communications

$

8,345,544
511,792
8,857,336

3,170,392
431,028
40,299
371,822
14,929

Insurance
Repairs and maintenance
Transportation
Utilities
Permits and testing
Tools and equipment
Miscellaneous
Outside services - operating
Administrative and general expenses
Provision for depreciation

26,740
317,288
26,660
176,120
36,360
69,697
1,667
15,720
1,017,143
1,976,665

Total operating expenses

7,692,530

Operating income (loss)

1,164,806

Non-operating revenue (expenses)
Interest expense
Interest income
Gain (loss) from disposition of capital assets

(148,195)
171,418
3,200

Total non-operating expense

26,423

Income (loss) before capital contributions

1,191,229

Capital contributions

8,144,258
8,144,258

Change in net position

9,335,487

Total net position - beginning

69,049,835
-

Total net position - beginning (restated)

69,049,835

Total net position - ending

$

78,385,322

MILCROFTON UTILITY DISTRICT
WATER RATES IN FORCE
September 30, 2020
Residential Rates
Water Metered

Water Rate

Monthly Customer Charge
3/4" Meter
1" Meter
First 10,000 gallons
Next 10,000 gallons
Next 10,000 gallons
Next 10,000 gallons

$16.00
$32.00
6.24 per 1,000 gallons
6.74 per 1,000 gallons
7.24 per 1,000 gallons
7.74 per 1,000 gallons

All additional usage

8.24 per 1,000 gallons
Commercial Rates

Water Metered

Water Rate

Monthly Customer Charge
3/4" Meter
1" Meter
2" Meter
3" Meter
First 10,000 gallons
Next 10,000 gallons
Next 10,000 gallons
Next 10,000 gallons
All additional usage

$25.00
$50.00
$175.00
$250.00
6.24 per 1,000 gallons
6.74 per 1,000 gallons
7.24 per 1,000 gallons
7.74 per 1,000 gallons
8.24 per 1,000 gallons
Connection Fee:

Residential
Commercial

$100.00
$100.00
Irrigation Rates

Water Metered

Water Rate

Monthly Customer Charge
3/4" Meter
1" Meter
First 10,000 gallons
Next 10,000 gallons
Next 10,000 gallons
Next 10,000 gallons
All additional usage

$16.00
$32.00
6.24 per 1,000 gallons
6.74 per 1,000 gallons
7.24 per 1,000 gallons
7.74 per 1,000 gallons
8.24 per 1,000 gallons

Principal Officers of the District:
Board of Commissioners: Howard G.Smithson - President*
Danny Cotton - Vice President* Carl Scott - Secretary-Treasurer*
General Manager: Mike Jones
*The monthly Board Meeting is held the 4th Wednesday
of each month at the District's office, 6333 Arno Rd.,
Franklin, TN 37064 at 9:00 a.m.
An Equal Opportunity Employeer

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