Conway Corp Annual Report | 2020

POWERING

THROUGH together

2 0 2 0

C O N W A Y

C O R P

A N N U A L

R E P O R T

TABLE of CONTENTS Projects . . . . . . . . . . . . . . . . . . . 1 Achievement . . . . . . . . . . . . . . . . 7 Service. . . . . . . . . . . . . . . . . . . 13 Education. . . . . . . . . . . . . . . . . 19 Reliability . . . . . . . . . . . . . . . . . 24 Financials . . . . . . . . . . . . . . . . . 25 Leadership. . . . . . . . . . . . . . . . . 27

IN A YEAR UNLIKE ANY OTHER, WE CAME TOGETHER LIKE NEVER BEFORE. Living rooms became classrooms. Kitchen tables became office spaces. And we all suddenly found ourselves spending most of our time at home. In the face of uncertainty, we clung to what pieces of normalcy we could find – and that’s where Conway Corp came in.

We’ve always worked to provide the best service because we believe we’re providing it to the best community. In 2020, the strength we saw on display in every corner of our beloved city – from the frontline workers caring for the sick to the families sacrificing big moments to keep their loved ones safe – inspired us to be ALWAYS ON for our customers more than ever.

It’s easy to look back on 2020 and remember the challenges.

But we also want to shine a light on how we worked as a community to overcome them. Here’s to coming together from far apart and powering through together.

Chief Executive Officer

POWERING NEW PROJECTS 2020 put a lot of things on hold, but life didn’t stop completely. You had drive-through birthday parties, bingewatched multiple TV shows, celebrated milestones and kept moving forward. And all the while, Conway Corp crews worked diligently to keep everything running smoothly.

METER UPGRADES Conway Corp continued its meter upgrade project in

to ensure efficient and reliable utility services.

2020 with the installation of water meters.

These upgraded meters transmit and receive data

New technology and communication capabilities are essential to maintaining the service our customers expect, and new advanced meters and other recent technology upgrades provide a cost-effective way

automatically and securely with our office. Two-way communication eliminates the need for a manual meter reading and provides alerts to help with troubleshooting and preventative maintenance.

2

METER UPGRADES

CONTINUED

Thanks to these upgrades, water bills will be more accurate, and Conway Corp will be able to identify and remedy problems much more quickly. Water meter deployment was more than 90 percent complete in 2020 and is expected to be completed by the end of 2021.

DONAGHEY CORRIDOR As the city of Conway continues to grow and change, Conway Corp is proud to help pave the way for a brighter future. In preparation for the city’s planned road construction on Donaghey Avenue, Electric, Water and Cable Department crews worked in 2020 to move power lines and replace water and sewer mains. Phase 1 of the project began in 2019 and was completed in 2020.

Crews are now working on Phase 2.

M YCO N WAYCO R P U P DAT E In a year where it was easy to feel disconnected, finding more avenues to stay connected to our customers was more important than ever. Conway Corp updated the myConwayCorp app for iOS and web in early 2020 with a fresh new look and feel, as well as more content relevant to the Conway community and our customers. The app now allows customers to schedule appointments for broadband and cable services, browse an improved TV guide, pay their bills and much more – all directly from within the app.

CO N WAYCO R P T V In 2020, ConwayCorpTV brought movies, shows, live sports, Wampus Cat coverage and more directly to the streaming devices of our customers. The app is now available on TVs and mobile devices with streaming capabilities – no box or cables required.

MUTUAL AID When disaster strikes, Conway Corp is always proud to help our neighbors in need. In March 2020, Senior Foreman Robert Meek, Senior Lineman Travis Lauer, Substation/ Relay Technician Bryce Hoggard, Apprentice Lineman Paul Langley, Groundman Kyle Troxler and Journeyman Lineman Lance Heer traveled to Jonesboro to assist with power restoration after a tornado struck the town.

In October, Journeyman Lineman Si Anthony, Groundman Kyle Troxler, Journeyman Lineman Nathan Ball, Senior Lineman Jake Ballard and Apprentice Lineman Trey Brown also traveled to Louisiana to restore power in the aftermath of Hurricane Delta.

Our crews were able to assist with these communities’ power crews thanks to Mutual Aid, a program among public power companies. Should a major outage ever occur in Conway, crews from these communities would come and provide the same help for us.

4

STREET PROJECTS Conway Corp partnered with the City of Conway

conjunction with the city’s downtown streetscape

Transportation Department and the Conway Area

project on the Markham Street Corridor, as well as on

Chamber of Commerce Downtown Partnership

the Salem Road widening project, Stanley Russ Road

to coordinate utility upgrades for several street

reconstruction, Salem and Irby roundabout and Tyler

construction projects. Our crews worked in

and Salem roundabout.

WAT E R Q UA L I T Y IMPROVEMENTS In 2018, Conway Corp partnered with Garver Engineers, Arizona State University and the University of Central Arkansas to find a permanent solution to annual taste and odor issues customers were experiencing with our water. The bench scale study analyzes our drinking water from Conway Corp’s water source, James H Brewer Lake. Part of the study includes a five-year contract with the UCA College of Natural Science and Mathematics.

In 2020, the UCA Biology Department continued to check the water for natural constituents that impact taste and odor. This helps Conway Corp have an early understanding of the occurrence of nuisance constituents that can alter drinking water.

Conway Corp continues to invest in timber management practices including controlled burns, select cutting and tree planting for lake bank stabilization and runoff filtration. In 2020, Conway Corp constructed a Riparian Buffer that consisted of more than 3,000 trees along the lake.

All of these things are working together to aid in the preservation of the Brewer Lake watershed.

BUSINESS INTERNET UPGRADES 2020 saw our customers working online more than ever,

COVID-19 RESPONSE

which meant they needed the fastest, most reliable internet services to keep them going. We upgraded our

We have long known how to prepare for

business internet speeds at no cost to our customers and

emergencies – power outages, natural

added new packages, upgrading Business Broadband 50 to

disasters, cyber threats. But 2020 had

Business Broadband 100 with download speeds up to 100

something different in mind. When our

Mbps. We also doubled upload speeds to up to 15 Mbps.

community was faced with the realities of the COVID-19 pandemic, we had to learn to face our regular daily projects with the added

HAPPY SOLAR FARM

challenge of complying with social distancing,

In April, Conway Corp announced a 20-year purchase

quarantining, travel restrictions and workplace

power agreement with Lightsource bp for the development of a 132 megawatt solar project – Conway Solar at Happy – to be located in White County.

Lightsource bp will finance, build, own and operate the solar farm and sell 100 percent of the electricity it generates to Conway Corp under the long-term, fixed-rate power purchase agreement. The solar project will be located on 700 acres and will generate enough

disruptions. We are immensely proud of our employees for always going the extra mile to ensure our customers are taken care of, especially during this unpredictable chapter.

Nearly a year into the pandemic, they have adopted a “new normal” and continue to work as hard as ever to provide the quality of service Conway Corp customers have come to expect.

electricity to power more than 21,400 homes.

L INE – CO N S T RUC T E D P R O J E C T S ELECTRIC PRIMARY:

ELECTRIC SECONDARY:

8.8 MILES

13.6 MILES

CABLE TRUNK:

CABLE FEEDER:

0.6 MILES

8.1 MILES

FIBER:

W AT E R :

12.1 MILES

6.5 MILES

W A S T E W AT E R : 5.4 MILES

(Values are approximate)

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POWERING ACHIEVEMENT It takes a village to power a city. So when one of our colleagues is recognized for an accomplishment, it’s a big win for all of us. Conway Corp is proud to recognize the outstanding work and talent of our peers, who refused to let a global pandemic stand in the way of bringing exceptional service to the people of Conway.

TOWER OF EXCELLENCE AWARD Brian Eggert Technical Lead/Database Administrator Brian Eggert was the recipient of the 2020 Tower of Excellence Award.

job performance. In his nomination, a co-worker said, “Although it takes a team to develop the day-to-day tasks important to Conway Corp, one employee has to get it started, and Brian is that person. He works with all departments, outside developers and is dedicated to fulfilling Conway Corp’s mission.”

This award recognizes an

Eggert was hired part-time in June 1997 and began

employee who has made a

working full time for our Technology Department in

significant impact through outstanding dedication and

September 2002.

8

CUSTOMER SERVICE AWARD Justin Moore Conway Corp’s Customer Service Award honors an employee that embodies Conway Corp’s mission of exceeding customer

BEST OF FAULKNER COUNTY Conway Corp was recognized by the Log Cabin

Democrat in their 2020 Best of Faulkner County list in both the Security Service Provider and Employee Recognition Program categories.

This recognition honors local businesses and is voted on by Log Cabin Democrat readers.

We are honored to have been chosen by our customers as the best in Faulkner County.

expectations, and the recipient of the 2020 Customer Service Award is Broadband Transport Specialist Justin Moore.

The co-worker who nominated Moore praised him for his dedication, stating, “When COVID-19 first hit, Justin stepped up and went on call for more than six weeks to make sure our business customers received the same care during COVID as they did pre-COVID.” Moore was hired in March 2008 as an Installer Trainee in the Cable Department.

SAFETY LEADERSHIP AWARD

WOMEN IN BUSINESS HONORS

Kody Miller

Crystal Kemp

Safety has always been a top

Conway Corp Chief Marketing

priority in our services, and in

Officer Crystal Kemp was

2020, we took on a number

named to Cablefax Magazine’s

of new safety protocols in

annual list of powerful women

response to COVID-19. The

in the cable and internet

Conway Corp Safety Leadership

industry for 2020. Cablefax

Award applauds an employee who goes above and

Magazine provides coverage of business developments

beyond to maintain a safe environment for their

affecting the cable, broadband and internet industries,

coworkers and customers alike, and 2020’s honoree was

and they have been recognizing powerful women within

Plant Maintenance Worker Kody Miller.

the industry for more than a decade.

Miller was nominated by a co-worker who said, “Kody

In addition to this recognition, Kemp was honored

makes safety a priority and always takes time to

locally as the recipient of the Women in Business 2020

contact the Conway Fire Department and Conway Corp

Diamond Achievement Award by the Conway Area

Safety Team when an employee is making a confined

Chamber of Commerce.

space entry at the wastewater treatment plant.”

Miller was hired in April 2018 as an Operator Apprentice at the Tupelo Bayou Wastewater Treatment Plant.

A P PA R P 3 D E S I G N AT I O N The American Public Power Association (APPA) granted Conway Corp a Reliable Public Power 3 (RP3) Diamond level designation. This designation recognizes public power utilities that demonstrate four key disciplines: reliability, safety, workforce development and system improvement. Diamond level is the highest level

BEST OF THE BEST

achievable within the RP3 designation and Conway

In 2020, Conway Corp was recognized by

Corp received a score of 98 out of 100, becoming

Arkansas Money & Politics in their Best of

the first public power utility in Arkansas to achieve a

2020 list in both the Energy Company and

Diamond designation.

Internet Service Provider categories. This recognition honors businesses statewide and is voted upon by Arkansas Money & Politics readers, and we are honored to have been chosen by our customers as the best in the state.

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A P PA CO M M U N I C AT I O N AWARDS Conway Corp was awarded the Award of Excellence in all three categories at the American Public Power Association’s (APPA) Communication Awards in October 2020. In the print and digital category, Conway Corp was recognized for the 2019 Annual Report, titled “Always On – Just Like You.” The video series “Lineman vs. Lineman” took home honors in the video category.

Conway Corp was also honored in the web series category for the ongoing social media series “Plugged In.” These awards honor utilities that show ingenuity and creativity in copy, design, graphics, social media, video editing and web, as well as communicate the company’s unique story.

MISSOURI PUBLIC UTILITY ALLIANCE AWARD Conway Corp was recognized by the Missouri Public Utility Alliance with a Special Mention Award. This award recognizes the company’s contributions to hometown utilities and participation in the American Public Power Association’s (APPA) mutual aid initiation Light Up Navajo, which Conway Corp crews participated in 2019.

RETIREMENTS Jim Moore 34 years

Judy Keck 21 years

Jim Moore joined Conway Corp

Judy Keck was hired in 1999

in 1986 as a senior meterman

as a utility worker apprentice

and was promoted to foreman

in the water department. She

in the electric department in

was promoted in 2002 to utility

2000. He was promoted to

worker, and she has worked

assistant superintendent in

in that position for the last 18

2003 and to electric distribution system manager in

years. Over the course of her 21 years with Conway Corp,

April 2013. He spent his career helping power Conway

she helped provide safe, clean water to countless homes

residents at home, work and play.

and families across the city of Conway.

Ben joined Conway Corp in August

Ben was an excellent leader to

2010 as Business Systems and

his team, a loving husband to his

End User Support Administrator

wife and a devoted father and

and immediately made a positive

grandfather, as well as a wonderful

impact on the company. He was

friend and colleague. He was

responsible for making sure

known for his smile, his love of

our internal technology worked

fishing and, perhaps most of all, his

properly, but he was quick to

matching neon shirts and shoes.

volunteer and lend a helping hand wherever it was needed.

Ben’s absence has been felt deeply at Conway Corp since his passing.

REMEMBERING B E N S PA N G L E R

Ben was the first employee to

His impact on our company and

receive Conway Corp’s annual

the entire Conway community was

Customer Service Award for

great, and we miss him.

In November 2020, Conway Corp

internal customer service and was

was devastated by the unexpected

nominated by his co-workers for

death of our friend and colleague

always going the extra mile in his

Ben Spangler.

job duties.

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POWERING BETTER SERVICE As an industry driven by innovation, we’re always seeking new ways to make life better for our community. From certifications in new technologies to training on how to better serve our customers, Conway Corp employees are constantly striving to raise the bar.

C E R T I F I C AT I O N S Brandon McNew Senior Broadband Services Technician Brandon McNew

implement, verify and troubleshoot local and wide-area enterprise networks and work collaboratively with specialists on advanced security, voice, wireless and video solutions.

earned his certification as

McNew joined Conway Corp in 2006 as an installer

a CISCO Certified Network

trainee and was promoted in 2014 to broadband service

Professional. This certification

technician. He was promoted again in 2020 to his

validates his ability to plan,

current position.

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C E R T I F I C AT I O N S

CONTINUED

Matt Livingston

Justin Moore

Broadband Services

In 2020, Broadband Transport

Administrator Matt Livingston

Specialist Justin Moore

became a Red Hat Certified

earned certifications as

Specialist in both Virtualization

a Network Specialist and

and Ansible Automation in

Broadband Transport

2020. These certifications

Specialist. These courses,

equip Livingston with the skills, knowledge and

both through the Society of Cable Telecommunication

abilities to efficiently employ critical IT solutions and

Engineers, equip Moore with the skills and knowledge to

management tasks. Livingston was hired in 2012 as a

employ IT expertise throughout the organization. Moore

broadband service technician and was promoted to

began working at Conway Corp in 2003 as an installer

his current position in 2017.

trainee in the cable department.

John Davis & To n y Lemke

Daniel Lawrence & Reece Martin

John Davis and Tony Lemke

Plant Operators Daniel

completed the Broadband

Lawrence and Reece

Distribution Specialist course

Martin earned the T4 Water

and earned certifications

Treatment License in 2020.

from the Society of Cable

This certification helps ensure

Telecommunication Engineers.

that customers receive safe,

This certification focuses on

potable water from Conway

radio frequency distribution

Corp’s water systems. Lawrence

within an access network. Davis

and Martin were both hired at

was hired in 2014 as an installer

Conway Corp in 2017 as operator

trainee. Lemke was hired in 2012

apprentices and were promoted

as an installer trainee.

to plant operators in 2020.

Blake Jones Blake Jones earned certification in 2020 as a Broadband Premise Expert.

This certification verifies the knowledge and ability to install and troubleshoot telecommunications services at a customer’s premises.

Jones joined Conway Corp in 2016 as an installer trainee in the cable department.

Landon Green & Kody Miller Landon Green and Kody Miller passed the Wastewater Class 1 exam and earned the Certified Wastewater Operator designation. Green also earned his Boiler Operator License.

Green joined Conway Corp in 2019 as a plant operator apprentice. Miller was hired in 2018 and promoted to plant maintenance worker in November 2018.

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T RAINING CYBER SECURITY ALL DEPARTMENTS

NEW EMPLOYEES

Social Engineering Red Flag

Security Awareness

Understanding and Avoiding Malware Common Threats

CUSTOMER SERVICE

249

EMPLOYEES PARTICIPATED

FROM ACROSS THE COMPANY

5,841

1,080

CUSTOMER SERVICE

COURSE ASSIGNMENTS

COURSES/ TRAINING

SESSIONS COMPLETED

7 MONTHS 17 DAYS 11 HOURS TRAINING TIME SAFETY ALL DEPARTMENTS Evacuation Plans First Aid Minor Injury Reporting ENGINEERING Contractor Inspection Logs and Safety Ergonomics CABLE, ELECTRIC Pole Top and Bucket Rescue Training ENGINEERING, WATER/ WASTEWATER Asbestos

CABLE, ELECTRIC, ENGINEERING, WATER/WASTEWATER Chainsaw Safety Cold Weather Safety Crystalline Silica Fire Extinguisher Safety Global Harmonization Systems Heat Stress Prevention BUSINESS OFFICE Active Shooter Coronavirus WATER/WASTEWATER Confined Space

ELECTRIC, ENGINEERING, WATER/WASTEWATER Trench Safety

CABLE, ENGINEERING, WATER/WASTEWATER Distracted Driving Ladder Safety

CABLE, ELECTRIC, WATER/WASTEWATER CPR

ENERGY SMART 2 0 2 0

354

216 HOMES

LOANS TO DATE $1,058,648 TOTAL

101 AUDITS

$1,731,605

CUSTOMER SAVINGS PER YEAR

$8,984,189

ENERGY SAVINGS SINCE 2009

$30,916,603

FOR LIFE OF SAVINGS MEASURES

2020 BUILDER OF THE YEAR Conway Corp recognized Rush-Hal Properties as the 2020 Energy Smart Builder of the Year for their dedication to building energyefficient homes in the Conway community. Energy Smart homes use less energy than standardbuilt homes and save homeowners money and energy for years to

66,185

METRIC TONS OF EMISSIONS SAVED SINCE 2009

come, and Rush-Hal built or began

EQUAL TO ANNUAL EMISSIONS OF 7,637 HOMES

Energy Smart homes in 2020.

construction on 91 recognized

$1 MILLION IN ENERGY SMART LOANS In 2020, the Energy Smart program reached the milestone of granting $1 million in loans. Energy Smart loans offer customers the chance to make energy-efficient home improvements, such as replacing old appliances or installing attic insulation, on zero percent interest.

Customers are moving to a more energy-efficient future, and we’re proud to help them get there.

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POWERING EDUCATION Conway is a city powered by education. Exceptional schools and universities, hundreds of dedicated teachers and thousands of eager students – all changing our community for the better. Conway Corp was proud to support education through scholarships, facilities and programs in a year where school looked quite different for most Conway students and educators.

TEACHER OF THE YEAR GRANT Susan Henderson

presented with the award and a $2,000 grant from

Susan Henderson, a library

School assembly.

media specialist at Ellen Smith

The grant is part of a $440,000 gift Conway Corp

Elementary, was recognized

pledged in 2013 to support Teacher Impact Grants

as the Conway Public Schools

presented by the Conway Public Schools Foundation.

Conway Corp at the Conway Public Schools Back-to-

Teacher of the Year in August 2020. Henderson was

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V I R T UA L G R A D UAT I O N Because of COVID-19, the Conway High School Class of 2020 was unable to have a traditional graduation ceremony – but they deserved to be celebrated. Conway Corp produced and broadcast the first-ever virtual graduation for Conway High School.

CHANNEL 5/585 SPORTS In 2001, Conway Corp began broadcasting tape-delayed Wampus Cat football and basketball games – making the 2020 season our 20th of broadcasting Wampus Cat Sports. Today, all football games and home basketball games are broadcast live via Channel 5/585 and streaming with Wampus Cats 2 Go. Conway Corp also continues to partner with Conway Public Schools and Conway High Wampus Cat Athletic Interns to broadcast student-produced local sports programming by providing equipment and hands-on training.

250+

GAMES BROADCAST IN 20 SEASONS

2,000,000+

IMPRESSIONS OVER THE LAST 5 SEASONS

2 0 2 0 F O OT BA L L S TAT S :

381,700+ 33 DIFFERENT STATES HAD VIEWERS

YOUTUBE IMPRESSIONS

13 DIFFERENT COUNTRIES HAD VIEWERS

3,800+

AVERAGE VIEWERS PER GAME

91,743

7,404

UNIQUE VIEWS ACROSS CHANNEL

MOST VIEWED GAME: 2020 7A STATE PLAYOFFS ROUND 3, WAMPUS CATS AT BRYANT

SCHOLARSHIPS In addition to providing world-class technology to our

to Conway High seniors for their performance in the

local schools and universities, Conway Corp is dedicated

classroom and in their respective competitive arenas.

to investing in education in our community through scholarships, grants, educational outreach and more.

In 2020, Conway Corp awarded four $500 scholarships

AT- H O M E I N T E R N E T ACC E SS F O R CO N WAY S T U D E N T S School going mostly virtual for 2020 brought plenty

students who needed it from early on in the pandemic.

of challenges for everyone, but it was especially

Nearly 60 families in the Conway School District were

challenging for students with limited or no access

connected to the internet and now have the means for

to the internet at home. In partnership with Conway

their children to learn safely from home.

Public Schools, Conway Corp provided internet access to

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B OA R D N O M I N AT I O N S

Jason Hansen

Bret Carroll

was nominated to serve on the

was nominated to the

Arkansas Telecommunications

American Public Power

Association and the National

Association (APPA)

Cable Television Cooperatives

Board of Directors.

Board of Directors.

Greg Dell

Scott Ussery

was nominated to the Mid

was nominated to

Arkansas Water Alliance

the American Public

Board of Directors.

Power Association (APPA) Mutual Aid Regional Committee.

ELECTRIC RELIABILITY AVERAGE LENGTH of POWER OUTAGES

AVERAGE NUMBER of POWER OUTAGES

CONWAY CORP

NATIONAL AVERAGE*

CONWAY CORP

NATIONAL AVERAGE*

100

144

.68

.86

MINUTES

MINUTES

OUTAGES

OUTAGES

BROADBAND RELIABILITY

99.94%

TELEPHONE RELIABILITY

99.92%

AVERAGE ANNUAL RESIDENTIAL SAVINGS in CONWAY vs. OUTSIDE CONWAY

ELECTRIC: 39%

WATER: 30%

*American Public Power eReliability Tracker

CUSTOMER SERVICE STATISTICS

17,343

NUMBER OF CUSTOMERS HELPED IN THE LOBBY OR OVER THE PHONE FOR NEW SERVICE

157,343 64,832

NUMBER OF PHONE CALLS RECEIVED IN CALL CENTER NUMBER OF CUSTOMERS HELPED IN DRIVE-THRU

ELECTRIC INCOME S TAT E M E N T

WAT E R INCOME S TAT E M E N T

Operating Revenues:

Operating Revenues:

Industrial . . . . . . . . . . . . . . . . $16,230,563 Residential . . . . . . . . . . . . . . . $22,823,349 Commercial. . . . . . . . . . . . . . . $10,919,482 Institutional. . . . . . . . . . . . . . . $2,827,289 Municipal and street lighting. . . . . . . . $708,967 Interdepartmental revenues. . . . . . . . $1,049,719 Service fees and other . . . . . . . . . . . $732,567 Total Operating Revenues . . . . . . . . $55,291,936

Industrial . . . . . . . . . . . . . . . . . $1,072,985 Residential . . . . . . . . . . . . . . . $8,259,947 Commercial. . . . . . . . . . . . . . . $1,705,820 Institutional. . . . . . . . . . . . . . . . $374,953 Municipal. . . . . . . . . . . . . . . . . $151,061 Service fees and other . . . . . . . . . . . $216,545 Total Operating Revenues . . . . . . . . . $11,881,311

Operating Expenses: Power purchased. . . . . . . . . . . . $24,763,988 Coal plant generation expense . . . . . . $1,626,493 Transmission service demand . . . . . . $6,638,073 Distribution . . . . . . . . . . . . . . . $5,431,014 Depreciation . . . . . . . . . . . . . . . $7,669,247 Customer accounting and collection . . . . $1,686,726 Administrative and general expenses . . . $4,259,535 Total Operating Expenses. . . . . . . . $52,175,076 Net Operating Income . . . . . . . . . . $3,116,080 Nonoperating Income (Expense): Net investment income. . . . . . . . . . $829, 412 Accretion of bond premium . . . . . . . . $308,523 Interest expense. . . . . . . . . . . . . ($474,246) Net Nonoperating Income . . . . . . . . . $673,689 Income Before Contributions in Aid of Construction and Interdepartmental Transfers. . . . . $3,790,549

Operating Expenses: Supply and treatment . . . . . . . . . . . $2,417,651 Distribution . . . . . . . . . . . . . . . $1,641,986 Depreciation . . . . . . . . . . . . . . . $3,436,837 Customer accounting and collection . . . . . $821,386 Administrative and general expenses . . . $1,108,836 Total Operating Expenses. . . . . . . . . $9,426,699 Net Operating Income . . . . . . . . . . . $2,454,612 Nonoperating Income (Expense): Net Investment Income. . . . . . .

Interest expense . . . . . . . . . . .

Amortization of deferred amount on refunding . . . . . . . .

Net Nonoperating Expense . . . . .

. . . . $58,062 . . ($296,100) . . . . ($50,331) . . . ($288,269)

Income Before Contributions in Aid of Construction and Interdepartmental Transfers . . . . . . . $2,166,243 Contributions in Aid of Construction . . . . $1,287,658

Contributions in Aid of Construction . . . . $969,406

Interdepartmental Transfers . . . . . . ($4,688,130)

Interdepartmenta l T r a n s f e r s . . . . $4,542,915

(Decrease) Increase in Net Position . . . ($1,234,225)

Increase in Net Position . . . . . . . . . . $9,302,870

Net Position, Beginning of Year . $80,360,528

Net Position, Beginning of Year . . $134,515,222

Net Position, End of Year . . . . . . $79,126,299

Net Position, End of Year . . . . . $143,818,092

WA S T E WAT E R INCOME S TAT E M E N T

CABLE INCOME S TAT E M E N T

Operating Revenues:

Operating Revenues:

Industrial. . . . . . . . . . . . . . . . . $2,187,439 Residential . . . . . . . . . . . . . . . $10,956,768 Commercial. . . . . . . . . . . . . . . $2,195,629 Institutional. . . . . . . . . . . . . . . . $516,536 Service fees and other . . . . . . . . . . . $114,304 Total Operating Revenues . . . . . . . . $15,970,676

$29,645,487

Operating Expenses: Treatment plant . . . . . . . . . . . . . $2,522,355 Collection. . . . . . . . . . . . . . . . $1,084,073 Depreciation . . . . . . . . . . . . . . . $6,357,235 Customer Accounting & Collection. . . . . $408,294 Administrative & General. . . . . . . . . . $788,952 Total Operating Expenses. . . . . . . . $11,160,909 Net Operating Income . . . . . . . . . . $4,809,767 Nonoperating Income (Expense): Net investment income. . . . . . . . . . . $28,816 Interest expense. . . . . . . . . . . . ($2,672,272) Bond issuance costs . . . . . . . . . . . ($56,368) Amortization of deferred loss on refunding . . . . . . . . . . . . . . . ($138,666) Net Nonoperating Expsense . . . . . . ($2,838,490)

Operating Expenses: Production . . . . . . . . . . . . . . . $12,234,979 Distribution . . . . . . . . . . . . . . . $6,838,391 Depreciation . . . . . . . . . . . . . . $4,054,426 Customer Accounting & Collection. . . . $1,648,909 Administrative & General. . . . . . . . . $2,644,698 Total Operating Expenses. . . . . . . . $27,421,403 Net Operating Income . . . . . . . . . . $2,224,084 Nonoperating Income (Expense): Investment Income. . . . . . . . . . . .

$132,661

Income Before Contributions in Aid of Construction . . . . . . . . . . . . . $2,356,745 Contributions in Aid of Construction . . . . . $82,888 Increase in Net Position . . . . . . . . . . $2,439,633 Net Position, Beginning of Year . . $30,239,931 Net Position, End of Year . . . . .

$32,679,564

Income (Loss) Before Contributions in Aid of Construction and Interdepartmental Transfers . . . . . . . . . . . . . . . . . $1,971,277 Contributions in Aid of Construction . . . . $1,123,335 Interdepartmental Transfers . . . . . . . . $145,215 Increase in Net Position . . . . . . . . . . $3,239,827 Net Position, Beginning of Year . . $53,736,548 Net Position, End of Year . . . . . . $56,976,375

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BOARD of DIRECTORS

Bob Whitehouse

Ray Kordsmeier

Brad Teague

Lindsay Henderson Tom Courtway

Chair

Vice-Chairman

Secretary

Director

Jake Nabholz

Denise Perry

Reggie Rose

Director

Director

Director (added May 2020)

Director

EXECUTIVE LEADERSHIP

Bret Carroll

Tracy Moore

Crystal Kemp

Greg Dell

Jason Hansen

Chief Executive Officer

Chief Financial Officer

Chief Marketing Officer

Chief Operating Officer

Chief Technology Officer

Our Vision Conway Corp is committed to serving our customers with excellence, planning for the future and delivering exceptional services to our community.

Our Mission Conway Corp is dedicated to exceeding our customers’ expectations in producing and delivering safe, affordable, reliable, innovative and environmentallysound utility and telecommunication services while enhancing the quality of life in our community.

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Powering Conway since 1929.

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(501) 450-6000

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ConwayCorp.com

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