KISSIMMEE, Fla., May 1, 2009 – Kissimmee Utility Authority today released its 2008 annual report.
This year’s report — titled “Hometown Solutions” — is available exclusively online in an effort to conserve resources during these tough economic times. No printed copies will be produced.
Developed as an informational resource, the annual report treats visitors to a whimsical online experience and allows them to learn about the utility while exploring the Kissimmee area along the way. The report features illustrations of familiar community landmarks, a short narrative at each stop, and complete financial highlights with downloadable statements, charts and graphs.
“The report is meant to be educational and to make you smile,” said Chris Gent, KUA’s vice president of corporate communications. “Be sure to turn up your speakers and enjoy.”
The report can be accessed at www.kua.com/annualreport.
Among the utility’s highlights for 2008:
• Operating revenue grew by 7.4 percent to $208.6 million from $194.3 in 2007.
• Operating expenses increased by 9.5 percent to $193.0 million from $176.3 million in 2007.
• KUA assets exceeded liabilities by $157.9 million (net assets). Of this amount, $34.5 million is available to be used to meet ongoing obligations to customers and creditors.
• The utility’s total outstanding long-term debt decreased 5.9 percent to $230.2 million.
Founded in 1901, KUA (www.kua.com) is Florida’s sixth largest community-owned utility providing electric and telecommunication services to 62,000 customers in Osceola County, Fla.
# # #
Chris M. Gent