|
County of Hawaii
<br />Department of Water Supply
<br />(A component unit of the County of Hawaii, State of Hawaii)
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
<br />Fiscal Year Ended June 30, 2022
<br />Condensed Financial Information (Continued)
<br />Operating revenues - water sales
<br />Operating expenses
<br />Operating loss
<br />Nonoperating revenues
<br />Nonoperating expenses
<br />Loss before contributions
<br />Contributions in aid of construction
<br />Change in net position
<br />Net position at beginning of fiscal year
<br />Prior period adjustment
<br />Net position at beginning of fiscal year,
<br />as restated
<br />Net position end of fiscal year
<br />Financial Analysis
<br />(175297673)
<br />210,129, 544 214, 568, 856
<br />$ 21870357418 $ 21071297544
<br />Capital assets, net increased by $5.0 million, or 1.7%, during the fiscal year ended June 30, 2022
<br />(FY2022), due primarily to an increase in utility plant in service of $26.7 million, offset by an
<br />increase in accumulated depreciation of $15.8 million, and decrease in preliminary survey and
<br />investigation charges and construction work in progress totaling $5.5 million.
<br />Other assets increased by $10.1 million, or 19.7%, in FY2022, due primarily to increases in cash
<br />and cash equivalents and intergovernmental receivables of $6.0 million and $4.0 million,
<br />respectively.
<br />Deferred outflows of resources decreased by $2.6 million, or 26.1 %, in FY2022, due primarily to
<br />a decrease in deferred outflows of resources related to pension of $2.4 million.
<br />Long-term debt increased by $7.6 million, or 11.3%, in FY2022, due primarily to bond and loan
<br />repayments of $6.2 million, offset by loan and bond proceeds of $14.1 million.
<br />9
<br />2021
<br />2022
<br />(as restated)
<br />$ 56, 617, 894
<br />$ 50, 502, 359
<br />60, 831, 000
<br />58, 632, 238
<br />(472137106)
<br />(871297879)
<br />172597700
<br />172717384
<br />(177937927)
<br />(179277397)
<br />(477477333)
<br />(877857892)
<br />1276537207
<br />473467580
<br />779057874
<br />(474397312)
<br />21071297544
<br />21670987529
<br />(175297673)
<br />210,129, 544 214, 568, 856
<br />$ 21870357418 $ 21071297544
<br />Capital assets, net increased by $5.0 million, or 1.7%, during the fiscal year ended June 30, 2022
<br />(FY2022), due primarily to an increase in utility plant in service of $26.7 million, offset by an
<br />increase in accumulated depreciation of $15.8 million, and decrease in preliminary survey and
<br />investigation charges and construction work in progress totaling $5.5 million.
<br />Other assets increased by $10.1 million, or 19.7%, in FY2022, due primarily to increases in cash
<br />and cash equivalents and intergovernmental receivables of $6.0 million and $4.0 million,
<br />respectively.
<br />Deferred outflows of resources decreased by $2.6 million, or 26.1 %, in FY2022, due primarily to
<br />a decrease in deferred outflows of resources related to pension of $2.4 million.
<br />Long-term debt increased by $7.6 million, or 11.3%, in FY2022, due primarily to bond and loan
<br />repayments of $6.2 million, offset by loan and bond proceeds of $14.1 million.
<br />9
<br />
|