KISSIMMEE, Fla., April 25, 2008 – The Kissimmee Utility Authority today released its 2007 annual report, “That’s the Way it Grows.”
The 46-page report reviews the utility’s 2007 performance and details how operational “seeds” planted by the utility during the year have blossomed to meet the demands of a growing customer base. In fact, the belly band of the printed report contains four varieties of wildflower seeds which can be planted to create a beautiful flower garden. This was designed to reinforce the report’s growth theme for the reader.
The report also consists of chairman Bill Hart and president and general manager Jim Welsh’s management letter, one-on-one interviews with utility employees and a comprehensive financial section.
Among the utility’s highlights for 2007:
• Operating revenue grew by 17.8 percent to $190.3 million from $161.6 in 2006.
• Operating expenses increased by 17.5 percent to $178.9 million from $152.2 million in 2006.
• KUA assets exceeded liabilities by $147.5 million (net assets). Of this amount, $49.1 million is available to be used to meet ongoing obligations to customers and creditors.
• The utility’s total outstanding long-term debt decreased 4.6 percent to $243.7 million.
An electronic version of the report is available on the utility’s Web site at http://www.kua.com/Corporate/Press/Reports.
Printed copies of the report are available upon request from the utility’s corporate communications division at P.O. Box 423219, Kissimmee, FL 34742-3219, by phoning 407-933-9838, or by email at email@example.com.
Founded in 1901, KUA (www.kua.com) is Florida’s sixth largest community-owned utility providing electric and telecommunication services to 170,000 residents in five Central Florida counties.
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Chris M. Gent