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 September 30,
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
February 14, 2000
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS (1 of 3)
September 30, 1999
<CAPTION>
ASSETS
EUA
EUA EUA EUA Day Matrix EUA
Cogenex Cogenex Day (fka Day I&I NEM
Consolidated Elimination (Division) (Division) (Division) Inc.
<S> <C> <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 90,711,440 42,091,195 3,649,677 1,150,027 8,493,365
Less accumulated provision for depreciation 46,437,764 22,831,428 1,087,423 788,923 4,344,645
Net non-utility property 44,273,676 19,259,767 2,562,254 361,104 4,148,720
Investments in subsidiaries (at equity) 1,434,569 37,086,379 38,520,948
Excess of carrying values of investments
in subsidiaries
Notes receivable 20,940,712 19,769,772
Leases receivable 14,004,517 9,510,652
Other 10,723,038 3,932,757 1,648,603
Total Utility Plant and Other Investments 91,376,512 37,086,379 90,993,896 4,210,857 361,104 4,148,720
Current Assets:
Cash and temporary cash investments 1,893,611 138,572 209,988 131,860
Notes receivable 15,936,274 14,767,050 27,377,281 3,109,211
Leases receivable 2,059,918 1,178,381
Accounts receivable - Net:
Customers 10,740,164 2,721,259 2,538,471 408,207
Accrued unbilled revenue
Others 11,130,573 8,999,007 23,364 (193,737)
Accounts receivable - associated companies 535,715 5,224,838 5,227,277 424,454
Materials and supplies (at average cost):
Plant materials and operating supplies 856,153 15,354 193,677 519,745
Other current assets 602,533 329,347 664,203 179,328
Total Current Assets 43,754,941 20,321,235 46,321,334 6,678,493 519,745 346,330
Deferred Debits:
Unamortized debt expense 228,200 228,200
Unrecovered regulatory plant costs
Other deferred debits 1,969,799 657,100 25,229 982,296
Total Deferred Debits 2,197,999 885,300 25,229 982,296
Total Assets $137,329,452 $57,407,614 $138,200,530 $10,914,579 $880,849 $5,477,346
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS (2 of 3)
September 30, 1999
<CAPTION>
ASSETS
EUA
EUA EUA COGENEX EUA
Cogenex Citizens WEST MUPA
Canada Corporation Corporation (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 (169,317) 3,771,967 1,073,884
Less accumulated provision for depreciation 1,203 1,417,342 630,534
Net non-utility property (170,520) 2,354,625 443,350
Investments in subsidiaries (at equity)
Excess of carrying values of investments
in subsidiaries
Notes receivable (58,782) 1,077,389
Leases receivable 535,905 1,378,475
Other 16,572 108,316 4,546,960
Total Utility Plant and Other Investments 323,175 2,462,941 7,446,174
Current Assets:
Cash and temporary cash investments (94,180) (289,419) 323,636
Notes receivable 32,834 170,317
Leases receivable 39,840 304,315
Accounts receivable - Net:
Customers 295,984 1,646,427 773,133
Accrued unbilled revenue
Others 90,213 9,660 925,783
Accounts receivable - associated companies 90,470 338 18,014
Materials and supplies (at average cost):
Plant materials and operating supplies 127,377
Other current assets 427 14,184 73,738
Total Current Assets 455,588 1,381,190 2,716,313
Deferred Debits:
Unamortized debt expense
Unrecovered regulatory plant costs
Other deferred debits 4,862 234,964 74,573
Total Deferred Debits 4,862 234,964 74,573
Total Assets $783,625 $4,079,095 $10,237,060 $
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS (3 of 3)
September 30, 1999
<CAPTION>
ASSETS
EUA EUA EUA EUA
WestCoast FRC II EC&S I EC&S II
(Partnership) (Part.) (Part.) (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 825,353 11,632,658 18,192,631
Less accumulated provision for depreciation 825,353 3,777,527 10,733,386
Net non-utility property 7,855,131 7,459,245
Investments in subsidiaries (at equity)
Excess of carrying values of investments
in subsidiaries
Notes receivable 152,333
Leases receivable 1,046,238 1,533,247
Other 20,711 397,708 51,411
Total Utility Plant and Other Investments 20,711 9,451,410 9,043,903
Current Assets:
Cash and temporary cash investments 84,790 909 437,428 950,027
Notes receivable 13,681 0
Leases receivable 85,316 452,066
Accounts receivable - Net:
Customers 763,622 1,005,902 587,159
Accrued unbilled revenue
Others 736,982 539,301
Accounts receivable - associated companies
Materials and supplies (at average cost):
Plant materials and operating supplies
Other current assets
Total Current Assets 848,412 909 2,279,309 2,528,553
Deferred Debits:
Unamortized debt expense
Unrecovered regulatory plant costs
Other deferred debits 12 (9,237)
Total Deferred Debits 12 (9,237)
Total Assets $869,123 $909 $11,730,731 $11,563,219
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS (1 of 3)
September 30, 1999
<CAPTION>
LIABILITIES EUA
EUA EUA EUA Day Matrix EUA
Cogenex Cogenex Day (fka Day NEM
Consolidated Elimination Corporation (Division) (Division) Inc.
<S> <C> <C> <C> <C> <C> <C>
Capitalization:
Common equity $44,324,505 $13,815,117 $44,154,872 $3,658,865 ($3,400,531) $8,532,860
Non-redeemable preferred stock of subsid. $0
Redeemable preferred stock of $0
subsidiaries - net 75
Preferred stock redemption cost $0
Partnerships' capital $0 23,281,262
Long-term debt - net $21,500,000 21,500,000
Total Capitalization 65,824,580 37,096,379 65,654,872 3,658,865 (3,400,531) 8,532,860
Current Liabilities:
Preferred stock sinking fund requirements
Long-term debt due within one year 56,700,000 56,700,000
Notes payable 6,987,680 14,767,050 7,040,000 1,672,073 3,785,746 150,000
Accounts payable 1,273,123 (43,977) 1,432,270
Accounts payable - associated companies 1,288,849 5,224,838 1,700,435 3,749,116 290,759 5,353
Customer deposits
Taxes accrued 65,498 (3,093) 10,652
Interest accrued 278,279 329,347 278,278 30,955 204,875
Dividends declared
Other current liabilities 7,630,622 6,158,093 45,177
Total Current Liabilities 74,224,051 20,321,235 71,829,736 6,940,243 4,281,380 155,353
Deferred Credits:
Unamortized investment credit
Other deferred credits 2,468,804 (10,000) 1,909,690 315,471 934
Total Deferred Credits 2,468,804 (10,000) 1,909,690 315,471 934
Accumulated deferred taxes (5,187,983) (1,193,768) (3,211,801)
Commitments and contingencies
Total Liabilities and Capitalization $137,329,452 $57,407,614 $138,200,530 $10,914,579 $880,849 $5,477,346
( ) Denotes Contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS (2 of 3)
September 30, 1999
<CAPTION>
LIABILITIES EUA
EUA EUA COGENEX EUA
Cogenex Citizens WEST MUPA
Canada Corporation Corporation (Partnership)
<S> <C> <C> <C> <C>
Capitalization:
Common equity $714,092 $103,528 $4,375,936 $0
Non-redeemable preferred stock of subsidiaries
Redeemable preferred stock of
subsidiaries - net 75
Preferred stock redemption cost
Partnerships' capital (29)
Long-term debt - net
Total Capitalization 714,092 103,603 4,375,936 (29)
Current Liabilities:
Preferred stock sinking fund requirements
Long-term debt due within one year
Notes payable (52,320) 2,689,159 6,470,072
Accounts payable (95,985) 1,984 (21,169)
Accounts payable - associated companies (134,894 659,411 24,697 29
Customer deposits
Taxes accrued 57,852 20 67
Interest accrued 32,041 61,477
Dividends declared
Other current liabilities 130,392 454,003 201,552
Total Current Liabilities (94,955) 3,836,618 6,736,696 29
Deferred Credits:
Unamortized investment credit
Other deferred credits 170,670 39,534
Total Deferred Credits 170,670 39,534
Accumulated deferred taxes (6,182) 138,874 (915,106)
Commitments and contingencies
Total Liabilities and Capitalization $783,625 $4,079,095 $10,237,060 $0
( ) Denotes Contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEETS (3 of 3)
September 30, 1999
<CAPTION>
LIABILITIES
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 $0 $0 $0 $0
Non-redeemable preferred stock of subsidiaries
Redeemable preferred stock of
subsidiaries - net
Preferred stock redemption cost
Partnerships' capital 890,425 909 11,510,414 10,879,543
Long-term debt - net
Total Capitalization 890,425 909 11,510,414 10,879,543
Current Liabilities:
Preferred stock sinking fund requirements
Long-term debt due within one year
Notes payable
Accounts payable
Accounts payable - associated companies (21,302) 129,316 110,767
Customer deposits
Taxes accrued
Interest accrued
Dividends declared
Other current liabilities 96,960 544,445
Total Current Liabilities (21,302) 226,276 655,212
Deferred Credits:
Unamortized investment credit
Other deferred credits (5,959) 28,464
Total Deferred Credits (5,959) 28,464
Accumulated deferred taxes
Commitments and contingencies
Total Liabilities and Capitalization $869,123 $909 $11,730,731 $11,563,219
( ) Denotes Contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING INCOME STATEMENTS (1 of 3)
FOR THE NINE MONTHS ENDED
September 30, 1999
<CAPTION>
EUA
EUA EUA EUA Day Matrix EUA
Cogenex Cogenex Day (fka Day I&I NEM
Consolidated Elimination Corporation (Division) (Division) Inc.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues $34,888,510 $ $11,286,488 $5,648,406 $61,104 $2,726,623
Operating Expenses:
Operation 25,881,572 9,731,072 5,293,046 848,806 80,635
Maintenance 903,663 316,809 11,252
Depreciation and amortization 7,972,879 4,158,088 203,099 115,004 408,463
Taxes - Other than income 553,804 247,936 166,570 24,400
- Income (credit) (1,525,261) (2,208,318) 535,020
- Deferred (833,429) (1,033,627) 242,720
Total Operating Expenses 32,953,228 11,211,960 5,662,715 988,210 1,278,090
Operating Income 1,935,282 74,528 (14,309) (927,106) 1,448,533
Other Income and Deductions:
Interest and dividend income 3,913,998 612,612 3,893,219 109,111
Equity in earnings of jointly-
owned companies 707,620 2,848,211 3,555,831
Allowance for other funds used during
construction
Other (deductions) income - net (5,006,586) (4,872,649) 150
Total Other Income (384,968) 3,460,823 2,576,401 109,261
Income (Loss) Before Interest Charges 1,550,314 3,460,823 2,650,929 94,952 (927,106) 1,448,533
Interest Charges:
Interest on long-term debt 5,185,119 5,185,119
Amortization of debt expense and premium
Other interest expense (principally
short-term notes) 579,601 612,612 576,739 67,507 136,837
Allowance for borrowed funds used during
construction - (credit) (177,691) (90,000) (20,712)
Total Interest Charges 5,587,029 612,612 5,671,858 46,795 136,837
Net Income (Loss) before preferred return (4,036,715) 2,848,211 (3,020,929) 48,157 (1,063,943) 1,448,533
Preferred Return Requirement
Net (Loss) Income ($4,036,715) $2,848,211 ($3,020,929) $48,157 $1,063,943 $1,448,533
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING INCOME STATEMENTS (2 of 3)
FOR THE NINE MONTHS ENDED
September 30, 1999
<CAPTION>
EUA
EUA EUA COGENEX EUA
Cogenex Citizens WEST MUPA
Canada Corporation Corporation (Partnership)
<S> <C> <C> <C> <C>
Operating Revenues $585,045 $7,746,235 $2,809,960 $
Operating Expenses: 0
Operation 520,103 6,661,332 2,564,430
Maintenance 55,001 32,683 43,232
Depreciation and amortization 6,609 434,421 427,132
Taxes - Other than income 2,140 74,059 38,699
- Income (credit) 12,285 184,286 (48,534)
- Deferred (6,182) (10,735) (25,605)
Total Operating Expenses 589,956 7,376,046 2,999,354
Operating Income (4,911) 370,189 (189,394)
Other Income and Deductions:
Interest and dividend income 20,900 231,330
Equity in earnings of jointly-
owned companies
Allowance for other funds used during
construction
Other (deductions) income - net (8,800) (200) (90,985)
Total Other Income 12,100 (200) 140,345
Income (Loss) Before Interest Charges 7,189 369,989 (49,049)
Interest Charges:
Interest on long-term debt
Amortization of debt expense and premium
Other interest expense (principally
short-term notes) 145,415 265,715
Allowance for borrowed funds used during
construction - (credit) (33,347) (33,632)
Total Interest Charges 112,068 232,083
Net Income (Loss) before preferred return 7,189 257,921 (281,132)
Preferred Return Requirement
Net (Loss) Income $7,189 $257,921 ($281,132) $
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING INCOME STATEMENTS (3 of 3)
FOR THE NINE MONTHS ENDED
September 30, 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 $272,714 $ $1,699,005 $2,052,930
Operating Expenses:
Operation 381 112,511 69,256
Maintenance 34,613 130,402 279,671
Depreciation and amortization 93,230 601,365 1,525,468
Taxes - Other than income
- Income (credit)
- Deferred
Total Operating Expenses 128,224 844,278 1,874,395
Operating Income 144,490 854,727 178,535
Other Income and Deductions:
Interest and dividend income 27,689 99,352 145,009
Equity in earnings of jointly-
owned companies
Allowance for other funds used during
construction
Other (deductions) income - net (150) (883) (33,069)
Total Other Income 27,539 98,469 111,940
Income (Loss) Before Interest Charges 172,029 953,196 290,475
Interest Charges:
Interest on long-term debt
Amortization of debt expense and premium
Other interest expense (principally
short-term notes) (0)
Allowance for borrowed funds used during
construction - (credit)
Total Interest Charges (0)
Net Income (Loss) before preferred return 172,029 953,196 290,475
Preferred Return Requirement
Net (Loss) Income $172,029 $0 $953,196 $290,475
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED
September 30, 1999
(1 of 3)
<CAPTION>
EUA
EUA EUA EUA Day Matrix
Cogenex Cogenex Day (fka Day
Consolidated Elimination Corporation (Division) (Division)
<S> <C> <C> <C> <C> <C>
CASH FLOW FROM OPERATING ACTIVITIES:
Net Income (Loss) ($4,036,715) $2,848,211 ($3,020,929) $48,157 ($1,063,943)
Adjustments to Reconcile Net Income (Loss)
to Net Cash Provided by Operating Activities:
Depreciation and amortization 8,274,951 4,444,648 203,098 115,004
Deferred taxes (833,704) (1,033,902)
Gains on sales of investments in energy savings
projects paid for with notes and leases receiv. (1,721,006) (1,529,103)
Costs of energy savings cash sales type projects 9,439,825 3,585,987
Pension liability 14,335 14,335
Amortization of deferred revenues
Collections of prin port of project notes & leases receiv. 5,229,745 2 2,405,054
Undistributed Equity earnings of subsidiaries 4,155,219 4,155,219
Other - net 1,476,464 957,805 1,341,641 978,113
Net Changes to Working Capital:
Accounts receivable 3,932,437 3,966,141 6,084,760 (382,932) (292)
Materials and supplies (28,841) 4,197 (33,038)
Accounts payable (76,256) (3,966,136) (2,365,652) 1,540,614 60,756
Accrued taxes 2,771 2 (8,776) (3,805)
Accrued interest (909,518) (1,382,250) (909,519) (448,348) 136,837
Other - net 3,712,441 1,382,247 5,006,216 (129,621)
Net Cash Provided from (Used in) Operating Activities 24,476,929 7,961,241 18,169,979 1,809,473 (784,676)
CASH FLOW FROM INVESTING ACTIVITIES:
Expenditures for investments in energy savings projects (23,700,384) (16,156,064) (2,829,615
Collections on financing notes and leases receivable 13,355,403 13,355,403
Proceeds from sale of Assets
Investments in subsidiaries
Net Cash Provided from (Used in) Investing Activities (10,344,981) (2,800,661) (2,829,615
CASH FLOW FROM FINANCING ACTIVITIES:
Redemption:
Long-term debt (5,900,000) (5,900,000)
Premium on reacquisition and financing expenses
Dividends declared (2,650,000)
Capital contribution - EUA
Partner's contribution (withdrawal) (4,353,431)
Net increase (decrease) in short-term debt (9,120,758) (957,810) (9,120,000) (128,986) 784,676
Net Cash Provided from (Used in) Financing Activities (15,020,758) (7,961,241) (15,020,000) (128,986) 784,676
NET (DECREASE) INCREASE IN CASH (888,810) 349,318 (1,149,128
Cash and temporary cash investments at beginning of year 2,782,421 (210,746) 1,359,116
Cash and temporary cash investments at end of year $1,893,611 $ $138,572 $209,988 $
Cash paid during the year for:
Interest (net of amounts capitalized) $6,366,184 $6,366,184 $0
Income Taxes ($1,347,776) ($1,534,384)
Conversion of investments in energy savings projects
to notes and leases receivable $0 $
( ) Denotes contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED
September 30, 1999
(2 of 3)
<CAPTION>
EUA EUA EUA EUA EUA
NEM Cogenex Citizens Cogenex MUPA
Inc Canada Corporation Corporation (Partnership)
<S> <C> <C> <C> <C> <C>
CASH FLOW FROM OPERATING ACTIVITIES:
Net Income (Loss) $1,448,533 $7,189 $257,921 ($281,132) $0
Adjustments to Reconcile Net Income (Loss)
to Net Cash Provided by Operating Activities:
Depreciation and amortization 408,459 6,606 434,421 427,133
Deferred taxes 242,720 (6,182) (10,735) (25,605)
Gains on sales of investments in energy savings
projects paid for with notes and leases receivable (191,903)
Costs of energy savings cash sales type projects 393,136 3,014,271 2,107,498
Pension liability
Amortization of deferred revenues
Collections of prin port of project notes and leases receiv. 42,222 2,207,014
Undistributed Equity earnings of subsidiaries
Other - net 945 106,306 1,351 48,249 11,574
Net Changes to Working Capital:
Accounts receivable 483,828 (174,832) 335,939 (158,714) (15,552)
Materials and supplies
Accounts payable (420,745) 39,273 (126,225) (1,314,715) 3,978
Accrued taxes 23,679 (159) (8,166)
Accrued interest (418,572) (652,166)
Other - net (48,493) 226,542 41,835 23,749
Net Cash Provided from (Used in) Operating Activities 2,163,740 197,001 3,714,754 2,391,231 23,749
CASH FLOW FROM INVESTING ACTIVITIES:
Expenditures for investments in energy savings projects (608,224) (2,402,161) (1,640,625)
Collections on financing notes and leases receivable
Proceeds from sale of Assets
Investments in subsidiaries
Net Cash Provided from (Used in) Investing Activities (608,224) (2,402,161) (1,640,625)
CASH FLOW FROM FINANCING ACTIVITIES:
Redemption:
Long-term debt
Premium on reacquisition and financing expenses
Dividends declared (2,050,000) (600,000)
Capital contribution - EUA
Partner's contribution (withdrawal) (23,749)
Net increase (decrease) in short-term debt (1,029,500) (584,758)
Net Cash Provided from (Used in) Financing Activities (2,050,000) (1,629,500) (584,758) (23,749)
NET (DECREASE) INCREASE IN CASH 113,740 (411,223) (316,907) 165,848
Cash and temporary cash investments at beginning of year 18,120 317,043 27,488 157,788
Cash and temporary cash investments at end of year $131,860 ($94,180) ($289,419) $323,636 $0
Cash paid during the year for:
Interest (net of amount capitalized) $0 $0 $0
Income Taxes $135,456 $38,271 $12,881
Conversion of investments in energy savings projects
to notes and leases receivable $0 $0
( ) Denotes contra
</TABLE>
<TABLE>
EUA COGENEX CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED
September 30, 1999
(3 of 3)
<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) $172,029 $0 $953,196 $290,475
Adjustments to Reconcile Net Income (Loss)
to Net Cash Provided by Operating Activities:
Depreciation and amortization 108,746 601,368 1,525,468
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 117,526 118,736 339,195
Undistributed Equity earnings of subsidiaries
Other - net 35,602 (90,628) 1,116
Net Changes to Working Capital:
Accounts receivable (13,916) (35,602) (141,813) 1,917,704
Materials and supplies
Accounts payable (267,699) (82,325) (70,253) (1,039,399)
Accrued taxes
Accrued interest
Other - net (23,818) (22,318) (139,228) 159,824
Net Cash Provided from (Used in) Operating Activities 92,868 (104,643 1,366,346 3,398,348
CASH FLOW FROM INVESTING ACTIVITIES:
Expenditures for investments in energy savings projects 202,740 82,325 (240,299) (108,461)
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 (240,299) (108,461)
CASH FLOW FROM FINANCING ACTIVITIES:
Redemption:
Long-term debt
Premium on reacquisition and financing expenses
Dividends declared
Capital contribution - EUA
Partner's contribution(withdrawal) (300,000) (29,682) (1,250,000) (2,750,000)
Net increase (decrease) in short-term debt
Net Cash Provided from (Used in) Financing Activities (300,000) (29,682) (1,250,000) (2,750,000)
NET (DECREASE) INCREASE IN CASH (4,392) (52,000) (123,953) 539,887
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 $84,790 $909 $437,428 $950,027
Cash paid during the year for:
Interest (net of amount capitalized) $0
Income Taxes
Conversion of investments in energy savings projects
to notes and leases receivable $0 $0
( ) Denotes contra
</TABLE>
Business Line Project Equipment
in Service Revenues
as of 9/30/99 as of 9/30/99
Demand Side Mgmt./Energy Mgmt. Services $79,927,990 $29,024,076
Manufacturing and Fabrication $0 $5,709,510
Consulting $154,924
TOTAL $79,927,990 $34,888,510
Geographic Location Project Equipment In Service Revenues
as of 9/30/99 as of 9/30/99
New England / New York Region $54,388,660 $24,382,325
United States excluding New England $25,539,330 $9,921,140
and New York
Canada $0 $585,045
All areas of the world excluding the
U.S. and Canada
TOTAL $79,927,990 $34,888,510
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