For UOSA’s fiscal years ended June 30, 2020, 2019 and 2018, capacity allocation by jurisdiction was as follows: Percentage of Total Allocated Capacity Jurisdiction Fairfax County Prince William County City of Manassas City of Manassas Park Total 2020 43.70% 36.66 14.24 5.40 100.00% 2019 43.70% 36.66 14.24 5.40 100.00% 2018 43.70% 36.66 14.24 5.40 100.00% The governing body of UOSA is an eight member Board of Directors consisting of two members from each participating jurisdiction appointed to four-year terms. The UOSA Board of Directors adopts an annual operating budget based on projected wastewater flows. The Authority’s General Manager currently serves as a member of the UOSA Board of Directors. Summary financial information of UOSA for the years ended June 30, 2019 and 2018 (the dates of the most recent available audited financial statements) are presented below. Complete financial statements may be obtained from UOSA at Upper Occoquan Service Authority, 14631 Compton Road, Centreville, Virginia 20121-2506, or from their website at www.uosa.org. 2019 UOSA Total assets Deferred outflows of resources Total assets and deferred outflows of resources Total liabilities Deferred inflows of resources Total liabilities and deferred inflows of resources Total net position Total revenues Total expenses Capital contributions Cumulative effect of change in accounting principle Change in net position Prepaid capacity amortization Change in equity interest in UOSA $ $ 541,889,848 18,654,337 560,544,185 510,699,952 2,993,994 513,693,946 $ 46,850,239 $ 35,420,647 (58,119,294) 18,696,500 – $ (4,002,147) $ (1,467,239) (2,575,370) (4,042,609) $ 11,392,417 $ $ Authority’s Share UOSA $ 562,632,163 19,357,030 581,989,193 528,579,668 2,557,139 531,136,807 50,852,386 32,109,270 (58,779,317) 17,830,318 (4,141,836) $ (12,981,565) $ (4,759,210) (2,443,220) $ (7,202,430) The equity interest in UOSA is a function of UOSA’s annual performance. The Authority’s equity interest is adjusted annually based on the Authority’s percentage of total capacity for the fiscal year multiplied by the change in UOSA’s net position for the latest audited fiscal year. The Authority’s percentage of total capacity changes as capacity purchases are made by the Authority or other jurisdictions, therefore the Authority's cumulative share of UOSA's net position is reported at an overall effective share. Prepaid capacity amortization represents the amortization associated with UOSA plant capacity rights that the Authority purchased from Fairfax County. The Authority amortizes these capacity rights over estimated useful lives from 40-50 years. This amortization is reflected as a portion of the equity interest in UOSA. The Authority made payments to UOSA during fiscal years 2020 and 2019 of approximately $13.8 million and $12.5 million, respectively, to pay its share of operation and maintenance expenses and reserve maintenance charges, which represents the Authority’s pro-rata share of the participating jurisdictions’ metered wastewater flows each year. The Authority records these payments for services from UOSA in the accompanying financial statements as purchased resources expense. The Authority also made payments to UOSA of approximately $10.7 million for each of the years ended June 30, 2020 and June 30, 2019, to fund its share of UOSA’s debt service. The Authority’s share of debt service payments are recorded as non-operating expenses in the accompanying financial statements. Each jurisdiction is required to pay its share of debt service based on its percentage of total allocated capacity or as otherwise identified for specific projects within the UOSA Service Agreement. In fiscal years 2020 and 2019, the Authority’s 36.66% share of UOSA’s change in net position was $(1,467,239) and $(4,759,210), respectively. NOTES TO FINANCIAL STATEMENTS FINANCIAL SECTION 47 $ 12,859,656 2018 Authority’s Share
Prince William County Service Authority | 4 County Complex Court Woodbridge, VA 22192
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