SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
In the matter of )
)
EASTERN UTILITIES ASSOCIATES )
Boston, Massachusetts )
)
EUA COGENEX CORPORATION ) Certificate of
Lowell, Massachusetts ) Notification
) Pursuant to
) Rule 24
(70-7287) )
)
(Public Utility Holding Company Act of 1935) )
Enclosed herewith for filing by Eastern Utilities Associates and
its wholly-owned subsidiary, EUA Cogenex Corporation, in accordance
with the Order of the Securities and Exchange Commission entered in
the above matter on February 15, 1995 (Release No. 35-26232) and
pursuant to Rule 24 under the Public Utility Holding Company Act of 1935,
are the consolidated and consolidating balance sheet, income statement,
and statement of cash flows of EUA Cogenex for the quarter ended March 31,
1999 and such other information required to be filed by said order.
EASTERN UTILITIES ASSOCIATES
By: /s/ Clifford J. Hebert, Jr.
Clifford J. Hebert, Jr.
Treasurer
EUA COGENEX CORPORATION
By: /s/ Edward T. Liston
Edward T. Liston
President
August 13, 1999
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS
March 31, 1999
<CAPTION>
ASSETS
EUA
EUA EUA EUA Day Matrix
Cogenex Cogenex Day (fka Day I & II)
Consolidated Elimination (Division) (Division) (Division)
<S> <C> <C> <C> <C> <C>
Utility Plant and Other Investments:
Utility plant in service $ $ $ $
Less accumulated provision for depreciation
and amortization
Net utility plant in service
Construction work in progress
Net utility plant
Non-utility property 102,616,631 51,896,224 3,152,587 1,150,027
Less accumulated provision for depreciation 52,102,305 29,202,962 1,001,906 731,421
Net non-utility property 50,514,326 22,693,262 2,150,681 418,606
Investments in subsidiaries (at equity) 516,949 40,542,056 41,059,005
Excess of carrying values of investments
in subsidiaries
Notes receivable 26,268,364 23,297,790
Leases receivable 14,329,975 9,610,565
Other 11,348,504 5,945,984
Total Utility Plant and Other Investments 102,978,118 40,542,056 102,606,606 2,150,681 418,606
Current Assets:
Cash and temporary cash investments 4,934,599 407,593 1,547,524
Notes receivable 12,535,292 13,550,986 24,790,544 2,650,148
Leases receivable 1,972,687 1,188,198
Accounts receivable - Net:
Customers 13,164,750 6,567,547 1,673,406
Accrued unbilled revenue
Others 11,336,646 8,726,766 4,395 (292)
Accounts receivable - associated companies 1,064,876 10,028,825 8,938,893 549,535
Materials and supplies (at average cost):
Plant materials and operating supplies 834,016 15,354 193,974 497,311
Other current assets 2,109,574 1,878,227 3,873,129 63,623
Total Current Assets 47,952,440 25,458,038 54,508,024 6,682,605 497,019
Deferred Debits:
Unamortized debt expense 236,919 236,919
Unrecovered regulatory plant costs
Other deferred debits 3,499,637 2,145,590 18,724
Total Deferred Debits 3,736,556 2,382,509 18,724
Total Assets $154,667,114 $66,000,094 $159,497,139 $8,852,010 $915,625
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS
March 31, 1999
<CAPTION>
ASSETS (continued)
EUA
EUA EUA EUA COGENEX EUA
NEM Cogenex Citizens WEST MUPA
Inc. Canada Corporation Corporation (Partnership)
<S> <C> <C> <C> <C> <C>
Utility Plant and Other Investments:
Utility plant in service $ $ $ $ $
Less accumulated provision for depreciation
and amortization
Net utility plant in service
Construction work in progress
Net utility plant
Non-utility property 8,493,365 11,469 4,476,330 1,609,157
Less accumulated provision for depreciation 4,131,294 615 1,149,829 717,518
Net non-utility property 4,362,071 10,854 3,326,501 891,639
Investments in subsidiaries (at equity)
Excess of carrying values of investments
in subsidiaries
Notes receivable (34,319) 2,845,721
Leases receivable 1,940,266
Other 20,420 131,082 4,761,778
Total Utility Plant and Other Investments 4,362,071 (3,045) 3,457,583 10,439,404
Current Assets:
Cash and temporary cash investments 799,989 244,324 (56,053) 347,560
Notes receivable 32,834 (1,502,405)
Leases receivable 144,770
Accounts receivable - Net:
Customers 889,319 301,740 1,446,627 392,476
Accrued unbilled revenue
Others (265,563) 35,777 658,311 549,754
Accounts receivable - associated companies 68,180 127,027
Materials and supplies (at average cost):
Plant materials and operating supplies 127,377
Other current assets 428 9,756 40,865
Total Current Assets 1,423,745 615,103 2,126,821 227,424
Deferred Debits:
Unamortized debt expense
Unrecovered regulatory plant costs
Other deferred debits 1,035,684 17,559 245,278 32,343 3,978
Total Deferred Debits 1,035,684 17,559 245,278 32,343 3,978
Total Assets $6,821,500 $629,617 $5,829,682 $10,699,171 $3,978
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS
March 31, 1999
<CAPTION>
ASSETS (continued)
EUA EUA EUA EUA
WestCoast FRC II EC&S I EC&S II
(Partnership) (Partnership) (Partnership) (Partnership)
<S> <C> <C> <C> <C>
Utility Plant and Other Investments:
Utility plant in service $ $ $ $
Less accumulated provision for depreciation
and amortization
Net utility plant in service
Construction work in progress
Net utility plant
Non-utility property 2,038,920 77,490 11,573,265 18,137,797
Less accumulated provision for depreciation 1,980,650 77,490 3,378,836 9,729,784
Net non-utility property 58,270 8,194,429 8,408,013
Investments in subsidiaries (at equity)
Excess of carrying values of investments
in subsidiaries
Notes receivable 159,172
Leases receivable 1,073,669 1,705,475
Other 29,331 400,257 59,652
Total Utility Plant and Other Investments 87,601 9,827,527 10,173,140
Current Assets:
Cash and temporary cash investments 177,943 52,909 276,433 1,136,377
Notes receivable 101,476 13,681
Leases receivable 131,199 508,520
Accounts receivable - Net:
Customers 1,180,555 713,080
Accrued unbilled revenue
Others 735,789 167,208 724,501
Accounts receivable - associated companies 285,607 1,124,459
Materials and supplies (at average cost):
Plant materials and operating supplies
Other current assets
Total Current Assets 1,015,208 52,909 2,054,683 4,206,937
Deferred Debits:
Unamortized debt expense
Unrecovered regulatory plant costs
Other deferred debits 481
Total Deferred Debits 481
Total Assets $1,102,809 $52,909 $11,882,691 $14,380,077
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS
March 31, 1999
<CAPTION>
LIABILITIES EUA
EUA EUA EUA Day Matrix
Cogenex Cogenex Day (fka Day I & II)
Consolidated Elimination Corporation (Division) (Division)
<S> <C> <C> <C> <C> <C>
Capitalization:
Common equity $47,580,877 $15,431,372 $48,551,836 $1,869,819 ($2,752,077)
Non-redeemable preferred stock of subsidiaries
Redeemable preferred stock of
subsidiaries - net 75
Preferred stock redemption cost
Partnerships' capital 25,120,684
Long-term debt - net 76,600,000 76,600,000
Total Capitalization 124,180,952 40,552,056 125,151,836 1,869,819 (2,752,077)
Current Liabilities:
Preferred stock sinking fund requirements
Long-term debt due within one year 6,700,000 6,700,000
Notes payable 16,426,368 13,550,986 16,480,000 1,672,073 3,326,683
Accounts payable 1,096,168 129,791 781,766
Accounts payable - associated companies 1,393,408 10,028,825 3,520,631 3,845,016 263,978
Customer deposits
Taxes accrued 66,686 11,873 15,826
Interest accrued 324,073 1,878,227 324,073 501,225 77,041
Dividends declared
Other current liabilities 5,587,923 4,425,588 18,750
Total Current Liabilities 31,594,626 25,458,038 31,591,956 6,834,656 3,667,702
Deferred Credits:
Unamortized investment credit
Other deferred credits 3,173,480 (10,000) 2,910,175 147,535
Total Deferred Credits 3,173,480 (10,000) 2,910,175 147,535
Accumulated deferred taxes (4,281,944) (156,828)
Commitments and contingencies
Total Liabilities and Capitalization $154,667,114 $66,000,094 $159,497,139 $8,852,010 $915,625
( ) Denotes Contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS
March 31, 1999
<CAPTION>
LIABILITIES (continued) EUA
EUA EUA EUA COGENEX EUA
NEM Cogenex Citizens WEST MUPA
Inc. Canada Corporation Corporation (Partnership)
<S> <C> <C> <C> <C> <C>
Capitalization:
Common equity $9,611,983 $710,517 $499,358 $4,520,813
Non-redeemable preferred stock of sub.
Redeemable preferred stock of
subsidiaries - net 75
Preferred stock redemption cost
Partnerships' capital 3,949
Long-term debt - net
Total Capitalization 9,611,983 710,517 499,433 4,520,813 3,949
Current Liabilities:
Preferred stock sinking fund requirements
Long-term debt due within one year
Notes payable 150,000 (52,320) 3,723,659 4,677,259
Accounts payable 1,008 (95,986) 65,848 181,466
Accounts payable - associated companies 436,092 (162,178) 654,231 1,228,533 29
Customer deposits
Taxes accrued 33,739 163 5,085
Interest accrued 495,135 804,826
Dividends declared
Other current liabilities 130,392 192,628 178,205
Total Current Liabilities 587,100 (146,353) 5,131,664 7,075,374 29
Deferred Credits:
Unamortized investment credit
Other deferred credits (8) 65,453 48,976 134
Total Deferred Credits (8) 65,453 48,976 134
Accumulated deferred taxes (3,377,575) 149,609 (897,150)
Commitments and contingencies
Total Liabilities and Capitalization $6,821,500 $629,617 $5,829,682 $10,699,171 $3,978
( ) Denotes Contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS
March 31, 1999
<CAPTION>
LIABILITIES (continued)
EUA EUA EUA EUA
WestCoast FRC II EC&S I EC&S II
(Partnership) (Partnership) (Partnership) (Partnership)
<S> <C> <C> <C> <C>
Capitalization:
Common equity
Non-redeemable preferred stock of subsidiaries
Redeemable preferred stock of
subsidiaries - net
Preferred stock redemption cost
Partnerships' capital 1,028,958 52,909 11,381,394 12,653,474
Long-term debt - net
Total Capitalization 1,028,958 52,909 11,381,394 12,653,474
Current Liabilities:
Preferred stock sinking fund requirements
Long-term debt due within one year
Notes payable
Accounts payable 284 31,991
Accounts payable - associated companies 49,911 279,772 1,306,218
Customer deposits
Taxes accrued
Interest accrued
Dividends declared
Other current liabilities 23,940 227,200 391,220
Total Current Liabilities 73,851 507,256 1,729,429
Deferred Credits:
Unamortized investment credit
Other deferred credits (5,959) (2,826)
Total Deferred Credits (5,959) (2,826)
Accumulated deferred taxes
Commitments and contingencies
Total Liabilities and Capitalization $1,102,809 $52,909 $11,882,691 $14,380,077
( ) Denotes Contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING INCOME STATEMENTS
FOR THE THREE MONTHS ENDED MARCH 31,1999
<CAPTION>
EUA
EUA EUA EUA Day Matrix
Cogenex Cogenex Day (fka Day
Consolidated Elimination Corporation (Division) (Division)
<S> <C> <C> <C> <C> <C>
Operating Revenues $9,520,751 $3,710,938 $1,576,679 $22,027
Operating Expenses:
Operation 7,001,522 2,974,636 1,453,583 370,688
Maintenance 211,946 48,976
Depreciation and amortization 2,727,892 1,458,922 30,107 57,502
Taxes - Other than income 229,627 106,506 75,879 322
- Income (credit) (379,330) (557,838)
- Deferred 52,383 (16,028)
Total Operating Expenses 9,844,040 4,015,174 1,559,569 428,512
Operating Income (323,289) (304,236) 17,110 (406,485)
Other Income and Deductions:
Interest and dividend income 1,525,852 166,631 1,490,171
Equity in earnings of jointly-
owned companies 401,888 401,888
Allowance for other funds used during
construction
Other (deductions) income - net (6,882) 43,020
Total Other Income 1,518,970 568,519 1,935,079
Income (Loss) Before Interest Charges 1,195,681 568,519 1,630,843 17,110 (406,485)
Interest Charges:
Interest on long-term debt 1,774,088 1,774,088
Amortization of debt expense and premium
Other interest expense (principally
short-term notes) 248,759 166,631 246,799 21,922 9,004
Allowance for borrowed funds used during
construction - (credit) (46,823) (30,000)
Total Interest Charges 1,976,024 166,631 1,990,887 21,922 9,004
Net Income (Loss) before preferred
return (780,343) 401,888 (360,044) (4,812) (415,489)
Preferred Return Requirement
Net (Loss) Income ($780,343) $401,888 ($360,044) ($4,812) ($415,489)
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING INCOME STATEMENTS (continued)
FOR THE THREE MONTHS ENDED MARCH 31,1999
<CAPTION>
EUA
EUA EUA EUA COGENEX EUA
NEM Cogenex Citizens WEST MUPA
Inc. Canada Corporation Corporation (Partnership)
<S> <C> <C> <C> <C> <C>
Operating Revenues $902,936 $1,632,910 $810,807
Operating Expenses:
Operation 21,940 28,245 1,334,923 766,987
Maintenance 4,698 (2,439) 9,696
Depreciation and amortization 141,723 2,173 144,141 141,698 (3,978)
Taxes - Other than income 1,122 30,581 15,217
- Income (credit) 179,972 2,956 36,654 (41,074)
- Deferred 76,946 (8,535)
Total Operating Expenses 425,279 34,496 1,543,860 883,989 (3,978)
Operating Income 477,657 (34,496) 89,050 (73,182) 3,978
Other Income and Deductions:
Interest and dividend income 2,427 75,257
Equity in earnings of jointly-
owned companies
Allowance for other funds used during
construction
Other (deductions) income - net 35,682 (100) (52,685)
Total Other Income 38,109 (100) 22,572
Income (Loss) Before Interest Charges 477,657 3,613 88,950 (50,610) 3,978
Interest Charges:
Interest on long-term debt
Amortization of debt expense and premium
Other interest expense (principally
short-term notes) 44,522 93,143
Allowance for borrowed funds used during
construction - (credit) (9,323) (7,500)
Total Interest Charges 35,199 85,643
Net Income (Loss) before preferred return 477,657 3,613 53,751 (136,253) 3,978
Preferred Return Requirement
Net (Loss) Income $477,657 $3,613 $53,751 ($136,253) $3,978
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING INCOME STATEMENTS (continued)
FOR THE THREE MONTHS ENDED MARCH 31,1999
<CAPTION>
EUA EUA EUA EUA
WestCoast FRC II EC&S I EC&S II
(Partnership) (Partnership) (Partnership) (Partnership)
<S> <C> <C> <C> <C>
Operating Revenues $44,687 $375,686 $444,081
Operating Expenses:
Operation 28,254 22,266
Maintenance 6,253 57,095 87,667
Depreciation and amortization 41,855 200,125 513,624
Taxes - Other than income
- Income (credit)
- Deferred
Total Operating Expenses 48,108 285,474 623,557
Operating Income (3,421) 90,212 (179,476)
Other Income and Deductions:
Interest and dividend income 13,983 34,269 76,376
Equity in earnings of jointly-
owned companies
Allowance for other funds used during
construction
Other (deductions) income - net (306) (32,493)
Total Other Income 13,983 33,963 43,883
Income (Loss) Before Interest Charges 10,562 124,175 (135,593)
Interest Charges:
Interest on long-term debt
Amortization of debt expense and premium
Other interest expense (principally
short-term notes)
Allowance for borrowed funds used during
construction - (credit)
Total Interest Charges
Net Income (Loss) before preferred return 10,562 124,175 (135,593)
Preferred Return Requirement
Net (Loss) Income $10,562 $124,175 ($135,593)
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31,1999
<CAPTION>
EUA
EUA EUA EUA Day Matrix
Cogenex Cogenex Day (fka Day I & II)
Consolidated Elimination Corporation (Division) (Division)
<S> <C> <C> <C> <C> <C>
CASH FLOW FROM OPERATING ACTIVITIES:
Net Income (Loss) ($780,343) $401,888 ($360,044) ($4,812) ($415,489)
Adjustments to Reconcile Net Income (Loss)
to Net Cash Provided by Operating Activities:
Depreciation and amortization 2,965,226 1,696,256 30,107 57,502
Deferred taxes 52,383 (16,028)
Gains on sales of investments in energy savings
projects paid for with notes and leases receiv. (53,908) (53,908)
Costs of energy savings cash sales type projects 2,231,558 1,328,245
Pension liability 4,743 4,743
Amortization of deferred revenues
Collections of prin port of project notes and
leases receivable 2,655,201 675,899
Undistributed Equity earnings of subsidiaries 699,544 699,544
Other - net (809,238) 2,173,875 1,866,108 (442,727)
Net Changes to Working Capital:
Accounts receivable 772,617 (837,849) (1,200,902) 376,021
Materials and supplies (6,706) 3,900 (10,605)
Accounts payable (148,650) 890,761 (371,690) 986,012 33,975
Accrued taxes 3,961 (3) 6,190 1,369
Accrued interest (863,724) 166,631 (863,724) 21,922 9,004
Other - net 162,707 (166,635) 64,786 (40,344)
Net Cash Provided from (Used in) Operating Act. 6,185,827 3,328,213 3,475,475 931,448 (325,613)
CASH FLOW FROM INVESTING ACTIVITIES:
Expenditures for investments in energy
savings projects (5,972,065) (4,797,624) (614,053)
Collections on financing notes and
leases receivable 2,420,486 2,420,486
Proceeds from sale of Assets
Investments in subsidiaries
Net Cash Provided from (Used in) Investing Act. (3,551,579) (2,377,138) (614,053)
CASH FLOW FROM FINANCING ACTIVITIES:
Redemption:
Long-term debt (800,000) (800,000)
Premium on reacquisition and financing expenses
Dividends declared
Capital contribution - EUA
Partner's contribution(withdrawal) (1,154,340)
Net increase (decrease) in short-term debt 317,929 (2,173,873) 320,000 (128,986) 325,613
Net Cash Provided from (Used in) Financing Activities (482,071) (3,328,213) (480,000) (128,986) 325,613
NET (DECREASE) INCREASE IN CASH 2,152,177 618,337 188,409
Cash and temporary cash investments at beginning of yr. 2,782,421 (210,746) 1,359,116
Cash and temporary cash investments at end of year $4,934,598 $407,591 $1,547,525
Cash paid during the year for:
Interest (net of amounts capitalized) $2,814,563 $2,814,563
Income Taxes $68,881 $28,308
Conversion of investments in energy savings projects
to notes and leases receivable
( ) Denotes contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENTS OF CASH FLOWS (continued)
FOR THE THREE MONTHS ENDED MARCH 31,1999
<CAPTION>
EUA EUA EUA EUA EUA
NEM Cogenex Citizens Cogenex West MUPA
Inc Canada Corporation Corporation (Partnership)
<S> <C> <C> <C> <C> <C>
CASH FLOW FROM OPERATING ACTIVITIES:
Net Income (Loss) $477,657 $3,613 $53,751 ($136,253) $3,978
Adjustments to Reconcile Net Income (Loss)
to Net Cash Provided by Operating Activities:
Depreciation and amortization 141,723 2,173 144,141 141,698 (3,978)
Deferred taxes 76,946 (8,535)
Gains on sales of investments in energy savings
projects paid for with notes and leases receivable
Costs of energy savings cash sales type projects 564,380
Pension liability
Amortization of deferred revenues
Collections of prin port of project notes & leases rec. 11,542 1,802,615
Undistributed Equity earnings of subsidiaries
Other - net 1 (11,610) 7,108 28,616 11,574
Net Changes to Working Capital:
Accounts receivable 74,542 (35,683) (180,758) 488,959 (15,552)
Materials and supplies
Accounts payable 11,002 11,991 (67,541) 91,756 3,978
Accrued taxes (437) (16) (3,148)
Accrued interest 44,522 91,183
Other - net (48,494) (30,401) 51,359 23,749
Net Cash Provided from (Used in) Operating Act. 781,871 (66,905) (29,194) 3,112,630 23,749
CASH FLOW FROM INVESTING ACTIVITIES:
Expenditures for investments in energy savings proj. (5,815) (59,349) (545,286)
Collections on financing notes and leases receivable
Proceeds from sale of Assets
Investments in subsidiaries
Net Cash Provided from (Used in) Investing Activities (5,815) (59,349) (545,286)
CASH FLOW FROM FINANCING ACTIVITIES:
Redemption:
Long-term debt
Premium on reacquisition and financing expenses
Dividends declared
Capital contribution - EUA
Partner's contribution(withdrawal) (23,749)
Net increase (decrease) in short-term dbet 5,000 (2,377,571)
Net Cash Provided from (Used in) Financing Activities 5,000 (2,377,571) (23,749)
NET (DECREASE) INCREASE IN CASH 781,871 (72,720) (83,543) 189,773
Cash and temporary cash investments at beginning of yr. 18,120 317,043 27,488 157,788
Cash and temporary cash investments at end of year $799,991 $244,323 ($56,055) $347,561
Cash paid during the year for:
Interest (net of amounts capitalized)
Income Taxes $456 $32,236 $7,881
Conversion of investments in energy savings projects
to notes and leases receivable
( ) Denotes contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENTS OF CASH FLOWS (continued)
FOR THE THREE MONTHS ENDED MARCH 31,1999
<CAPTION>
EUA EUA EUA EUA
WestCoast FRC II EC&S I EC&S II
(Partnership) (Partnership) (Partnership) (Partnership)
<S> <C> <C> <C> <C>
CASH FLOW FROM OPERATING ACTIVITIES:
Net Income (Loss) $10,562 $124,175 ($135,593)
Adjustments to Reconcile Net Income (Loss)
to Net Cash Provided by Operating Activities:
Depreciation and amortization 41,855 200,125 513,624
Deferred taxes
Gains on sales of investments in energy savings
projects paid for with notes and leases receivable
Costs of energy savings cash sales type projects 134,968 203,965
Pension liability
Amortization of deferred revenues
Collections of prin port of project notes and leases receivable 16,050 38,583 110,512
Undistributed Equity earnings of subsidiaries
Other - net 35,602 (90,623) (39,412)
Net Changes to Working Capital:
Accounts receivable 13,917 (35,602) (32,299) 482,125
Materials and supplies
Accounts payable (196,486) (29,416) 80,487 188,043
Accrued taxes
Accrued interest
Other - net 123 (22,318) (8,988) 6,600
Net Cash Provided from (Used in) Operating Activities (113,979) (51,734) 446,428 1,329,864
CASH FLOW FROM INVESTING ACTIVITIES:
Expenditures for investments in energy savings projects 202,740 82,325 (181,376) (53,627)
Collections on financing notes and leases receivable
Proceeds from sale of Assets
Investments in subsidiaries
Net Cash Provided from (Used in) Investing Activities 202,740 82,325 (181,376) (53,627)
CASH FLOW FROM FINANCING ACTIVITIES:
Redemption:
Long-term debt
Premium on reacquisition and financing expenses
Dividends declared
Capital contribution - EUA
Partner's contribution(withdrawal) (30,591) (550,000) (550,000)
Net increase (decrease) in short-term debt
Net Cash Provided from (Used in) Financing Activities (30,591) (550,000) (550,000)
NET (DECREASE) INCREASE IN CASH 88,761 (284,948) 726,237
Cash and temporary cash investments at beginning of year 89,182 52,909 561,381 410,140
Cash and temporary cash investments at end of year $177,943 $52,909 $276,433 $1,136,377
Cash paid during the year for:
Interest (net of amounts capitalized)
Income Taxes
Conversion of investments in energy savings projects
to notes and leases receivable
( ) Denotes contra
</TABLE>
Business Line Project Equipment
in Service Revenues
as of 3/31/99 as of 3/31/99
Demand Side Mgmt./Energy Mgmt. Services $89,438 $7,889
Manufacturing and Fabrication 1,599
Consulting 33
TOTAL $89,438 $9,521
Geographic Location Project Equipment
in Service Revenues
as of 3/31/99 as of 3/31/99
New England / New York Region $58,135 $6,691
United States excluding New England 31,303 2,830
and New York
Canada
All areas of the world excluding the
U.S. and Canada $89,438 $9,521
TOTAL
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