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)
6
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.
10
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.
12
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.
14
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.
16
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.
18
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
20
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
22
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
26
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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