OCR Text |
Show President Kennedy activated the first generator at Flaming Gorge Dam in northeastern Utah. Commercial power has been produced at the Flaming Gorge Dam since November 11, 1963. The decision in May 1964 to resume filling of Lake Powell was to achieve the objective of gaining minimum operating level at Lake Powell without lowering Lake Mead below 1,083 feet, the minimum level for power operation. The adverse effect on operation of Hoover powerplant below elevation of 1,123 feet is offset by acquiring and furnishing replacement capacity and energy to the Hoover power allottees in the same quantities and having the same characteristics as they would have obtained from Lake Mead operating at the rated head elevation of 1,123 feet. Section 6 of the authorizing act stipulated that, on January 1 of each year, the Secretary of the Interior shall report to Congress for the previous fiscal year: (1) Status of revenues from; and (2) Cost of constructing, operating, and maintaining the Colorado River storage project and participating projects (hereinafter referred to as the "project"). The report is to be prepared so as to reflect accurately the- (3) Federal investment allocated at that time to power, to irrigation, and to other purposes; (4) Progress of return and repayment thereon; and (5) Estimated rate of progress, year by year, in accomplishing full repayment. Because of the nature of project activities during the fiscal year, this eighth annual report deals primarily with construction progress to June 30, 1964, and only limited comments are furnished with respect to the remaining items required to be reported upon. 1. STATUS OF REVENUES The source of revenues received to date and the disposition of these revenues is reflected in the following tabulation: Fiscal year Total to Source 1964 date Revenues: Electric ......................................................................... $502,389 $502,389 Municipal and industrial water ................................ 23,900 64,147 Nonoperating ................................................................ 10,117 55,095 Total revenues .......................................................... 536,406 621,631 Expense: Electric operation and maintenance expense 366,014 366,014 Net revenues ............................................................ 170,392 255,617 116 |