LIC-07-0071, Guarantee of Payment of Deferred Premiums for the Period of July 1, 2007 to June 30, 2008

Guarantee of Payment of Deferred Premiums for the Period of July 1, 2007 to June 30, 2008

ML072060212
Person / Time
Site:	Fort Calhoun
Issue date:	07/24/2007
From:	Mcmanis J Omaha Public Power District
To:	Dinitz I Office of Nuclear Reactor Regulation
References
LIC-07-0071, RG-9.004
Download: ML072060212 (3)

Text

Omaha Public Power District 444 South 16th Street Mall Omaha NE 68102-2247 July 24,2007 LIC-07-007 1 U. S. Nuclear Regulatory Commission Attn: Mr. Ira Dinitz Mail Stop: 12 D3 Washington, D.C. 20555

Reference:

Docket No. 50-285

SUBJECT:

Guarantee of Payment of Deferred Premiums for the Period of July 1,2007 to June 30,2008

Dear Mr. Dinitz:

In compliance with 10 CFR Part 140.21, the Omaha Public Power District (OPPD) files the attached, "200712008 Statement of Cash Flow from Operations," as its guarantee of payment of deferred premiums for the period of July 1, 2007 to June 30, 2008. The cash flow statement deviates slightly from the format of NRC Regulatory Guide (RG) 9.4 because OPPD is a political subdivision of the State of Nebraska. However, the pertinent information identified in RG 9.4 is provided. A copy of Bond Resolution 1788, which established the payment priorities listed on the cash flow statement, was filed with our 1979 guarantee report.

If you should have any questions, please contact Tom Matthews at (402) 533-6938.

. McManis Manager - Nuclear Licensing Attachment Employment with Equal Opportunity

Attachment LIC-07-0071 Page 1 Operating Revenues Debt Retirement Transfer Interest Receipts OMAHA PUBLIC POWER DISTRICT Statement of Cash Flow From Operations (a)

(Dollars in Thousands)

Actual Projected 12 12 Months Months ended ended 5/07 6/08 Total Cash Receipts 669,753 733,588 Less: Operating Expenses 489,83 1 505,503 Payments in Lieu of Taxes 20,242 2 1,363 Funds Available for Debt Service Less: Debt Service Payments 102,372 106,307 Funds Available for Other Valid Corporate Purposes

$57,308

$100,415 Average Quarterly Cash Flow

$14,327

$25,104 Percentage Ownership - Fort Calhoun Power Station Unit No. 1 - 100%

Maximum Total Contingent Liability Per Incident Per Calendar Year - $10,000,000

Attachment LIC-07-007 1 Page 2 Notes:

(a)

The format of this cash flow statement is in accordance with the payment priorities as established by Bond Resolution 1788. The payment priority scheduled for funds realized from operations is as follows:

First Priority:

Operations and maintenance expenses and payments in lieu of taxes.

Second Priority: Debt service (principal and interest) on all outstanding bonds.

Third Priority:

All other valid corporate purposes. These purposes would include construction, nuclear fuel, working capital, and any other use of the funds to provide for an ongoing utility business. The payment of any funds for the NRC guarantee would fall into the third priority.

(b)

Interest collections have been normalized to reflect only the types of interest collections from normal ongoing funds and do not reflect any interest collections made from special construction funds.

(c)

Operating and Maintenance Expenses and Payments in Lieu of Taxes have first priority on use of h d s derived from operating revenues.

(d)

Debt Service Payments have second priority on the use of funds derived from operating revenues.

(e)

These funds represent the internal cash flow available for all other corporate purposes and have third priority on funds derived from operating revenues.

Supplementary General Statements:

The following statements are offered to explain some of the District's options and capabilities with respect to its financial management:

The District maintains a working fund balance of approximately $20 million in addition to special construction and restricted funds.

As an all-public power state, Nebraska does not have a state commission with electric rate jurisdiction.

The District's Board of Directors is empowered to establish electric rates.