2019 & 2020-COH - DWS Financial Statements and Supplementary Information With Independent Auditor's Report

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County of Hawaii Department of Water Supply (A component unit of the County of Hawaii, State of Hawaii) MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) June 30, 2020 and 2019 Capital Assets and Debt Administration As of June 30, 2020 and 2019, the Department had $301.5 million and $296.6 million, respectively, invested in capital assets, and $66.4 million and $70.6 million, respectively, of long- term debt outstanding. During 2020, major capital asset additions included: • $5.1 million for the Kapulena Well Development During 2019, major capital asset additions included: • $0.4 million for the Paukaa waterline. • $0.4 million for the HOVE well repairs. • $0.2 million for Kahaluu booster repairs. • $0.2 million for Kaieie Mauka well repairs. • $0.2 million for Olaa #6 well repairs. • $0.2 million for Hawi #2 well repairs. • $0.2 million for Kaloko Mauka #3 booster repairs. More detailed information about the Department's capital assets is provided in Note D to the financial statements. At June 30, 2020 and 2019, the Department had outstanding $22.2 million and $24.8 million, respectively, in County of Hawaii general obligation bonds for public improvements, and $42.9 million and $44.3 million, respectively, in State of Hawaii revolving fund loans. As of June 30, 2020, the Department, through the County of Hawaii, maintained an "AX rating from Standard & Poor's, an "Aa2" rating from Moody's and an "AA+" rating from Fitch for general obligation debt. Currently Known Facts, Decisions, or Conditions Effective July 1, 2020, water rates remained unchanged from FY19 11