Community Impact Brochure 2024

Life. Made better.

TM

COMMUNITY

Report 2024

Customer Satisfaction Overall satisfaction remains high 2023

1,108 respondents

96.0%

2022

1,002 respondents

95.5%

2021

1,155 respondents

95.2%

2020

1,022 resondents

94.1%

96.0%

overall satisfaction in 2023

68.3%

National average for overall satisfaction in 2022

Consistently high scores for each contact type

Safety Easton Utilities values safety above all else and recognizes the importance of our obligations to the safety of our customers and the public, as well as sending our employees home to their families each day. Being committed to safety means everyone is involved.

From the leadership team providing an unwavering commitment, to the front-line employees nearest the potential hazards, everyone at Easton Utilities is engaged in safety conversations and feels empowered to speak up about safety concerns. Safety training is required for all employees on an annual basis from job specific preparation for driver safety and confined space trainings to broader, more general safety measures for all employees. Easton Utilities has an employee-led Safety Committee that meets monthly to provide ongoing monitoring and improvements to our safety culture and commitment.

FY24 SAFETY GOALS Employees shall complete 100% of their assigned online safety training curriculum through a third party resource.

Easton Utilities will have no more than one “Preventable” Motor Vehicle Accident (PMVA) per 112,000 miles driven during the fiscal year.

Life. Made better.

TM

Our company would be nothing without our people.

At Easton Utilities, we invest in our people knowing they are our greatest asset and they embody our core values of Integrity, Commitment and Excellence. We offer excellent benefits and compensation plus a variety of programs and initiatives including mentoring, wellness, leadership development and more. We also have five employee-led committees:

EMPLOYEE-LED COMMITTEES:

2,164

• Safety

• Wellness

173

• Environmental

• Events

12.5

43.7

years of experience

full-time employees

years average of service

years average age

81

2,427

6

5

employees over 10 years tenure

training hours

summer interns

employee-led committees

CONNECT TALBOT Talbot County Rural Broadband Project

A service of EASTON UTILITIES

PROGRESS MAP

Easton Utilities has made significant progress installing and providing broadband service to significant portions of Talbot County currently unserved. As of January 2024, over 60% of the construction has been completed offering access to more than 2,300 locations.

Currently, 1,250 of these locations have already subscribed to service and are enjoying the numerous benefits internet service offers. This is reflected via a real-time map on EastonVelocity.com/ConnectTalbot.

As the project continues to evolve and additional funding sources have been confirmed, the scope and timeline of the Connect Talbot project has grown. In total, the entire project will now provide access to 4,400 locations and is estimated to cost $40 million. This transformational project will help drive economic prosperity and improve numerous quality of life issues including employment, healthcare, education, and social connections.

Local Tech Support The Easton Velocity Tech Support team provides assistance to the residential and commercial customers with our service. This team stays informed on evolving technology to offer a superior customer experience for our users. With the addition of our managed Wi-Fi solution, VFi, the team has access to backend tools to facilitate more efficient support. A new platform for cable television, Vtv, delivers content using internet protocol for an upgraded user experience.

Easton Velocity is committed to exceeding our customers’ needs!

Powered by Easton Velocity

Electric Velocity 10,405

11,009 customers

internet customers

4,956 customers

50

local business customers

8.5 mi

154 mi

service territory

0.05844 leaks per mile

IT Professional Services national utility customers

generation capacity

Natural Gas

1,573

60

service territory

Industry average: 140 min

cable TV customers

ITPS

66.4 MW

19 min average outage time

4,153

phone customers

54 sq mi

of main & services

14 min

leak response time

Water/Wastewater 7,276 customers

2 million

120 mi

gallons per day

770

hydrants

of main

5

wells

*Data available as of January 2024.

Commitment to the Community 173

full-time employees

300+

hours volunteered by employees

$45,000

60+

492

Countless

organizations supported

hours of learning Spanish

THE EASTON UTILITIES COMMISSION STATEMENTS OF NET POSITION JUNE 30, 2023 AND 2022 ASSETS

2023

2022

Cash and Cash Equivalents Accounts Receivable, Net Grants Receivable, Net (Short and Long-Term) Inventory Investments Other Assets Capital Assets, net

$

9,186,999 4,312,372 6,220,290 9,702,084 16,853,640 4,457,432 104,431,410

$ 10,779,379 5,510,914 3,307,361 9,758,801 17,661,337 4,857,499 100,742,985

Assets

155,164,227

152,618,276

Deferred Outflows of Resources

1,761,640

2,688,849

Total Assets and Deferred Outflows

$156,925,867

$155,307,125

$

$

LIABILITIES Accounts Payable Other Current Liabilities Other Liabilities Loans Payable

2,765,019 9,446,761 2,848,040 10,198,287

2,854,425 4,395,411 2,950,593 12,150,220

Total Liabilities

25,258,107

22,350,649

Deferred Inflows of Resources

1,943,248

2,542,314

Net Investment in Capital Assets Restricted Unrestricted

$ 93,585,342 1,635,008 34,504,162

$ 88,592,765 2,931,186 38,890,211

Total Net Position

129,724,512

130,414,162

Total Liabilities, Deferred Inflows & Net Position

$156,925,867

$155,307,125

NET POSITION

donated by Easton Utilities

other ways we helped the community

FINAN

COMMITMENT TO THE ENVIRONMENT POWERED BY

E ASTON UTILITIES

ANNUAL TREE PLANTING One of Easton Utilities’ environmental corporate goals is to plant twenty-four 1.5 to 2-inch caliper trees each year. Since this tradition began over 14 years ago, we have planted over 400 trees in our service territory.

WASTEWATER TREATMENT FACILITY (WWTF) Since 2007 the WWTF has operated as an Enhanced Nutrient Removal (ENR) plant, treating nutrients such as nitrogen and phosphorus, two major environmental contaminants, out of the wastewater. The plant is successful in eliminating 85 – 95% of pollutants in the wastewater before it is recycled to the adjacent Choptank River, helping to improve the water quality in local waterways.

NCIALS

SOLAR ARRAY The 2MW solar field at Easton’s Sustainability Campus, located adjacent to the wastewater treatment facility, generates more than enough electricity to power the entire treatment plant. On average, 20% of the electricity generated by the panels is fed back into the local electric grid.

HABITAT CREATION Starting in 2020, Easton Utilities collaborated with the Maryland Department of Natural Resources, the US Fish and Wildlife Service, and the Bee and Butterfly Habitat Fund to create a 16-acre pollinator habitat around the solar array at Easton’s Sustainability Campus.

THE EASTON UTILITIES COMMISSION STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION YEARS ENDED JUNE 30, 2023 AND 2022 2023

2022

OPERATING REVENUES

$ 66,182,807

$ 61,206,089

OPERATING EXPENSES

65,361,781

54,941,464

821,026

$ 6,264,625

Nonoperating Revenues

$ 12,476,149

$ 4,638,786

Nonoperating Expenses

(13,986,825)

(7,349,315)

TOTAL OTHER INCOME (EXPENSE)

(1,510,676)

(2,710,529)

INCREASE (DECREASE) IN NET POSITIION

$ (689,650)

$ 3,554,096

Net Position - Beginning of Year

$ 130,414,162

$ 126,860,066

NET POSITION - END OF YEAR

$ 129,724,512

$ 130,414,162

(including Depreciation of $8,177,333 and $7,940,263)

$

OPERATING INCOME OTHER INCOME (EXPENSE)

(including Interest of $248,874 and $251,128 and Depreciation of $154,258 and $152,635)

Life. Made better.

TM

Mission To enhance the quality of life in our community by providing reliable, competitively priced utility and communication services through skilled, safety-oriented and customer-focused em​ployees.

Vision To be recognized by our community as providing unquestionable value.

Core Values

410-822-6110 • 201 N. Washington Street • Easton, MD 21601 eastonutilities.com • eastonvelocity.com