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8th grade Avg
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New words:
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announced, annualized, bid, chain, characterized, compelling, continuation, currency, Cynthia, Developed, discontinued, Dotzel, economy, encouraging, essential, foregoing, guaranteed, Hay, healthcare, impede, inspected, instability, Interbank, Kain, Kingdom, London, Manheim, Newcomer, permissible, planned, priority, Robert, slowdown, sponsored, stop, unavailable, West, workforce, World
Financial report summary
?Management Discussion
- (All dollar amounts are stated in thousands of dollars.)
- The York Water Company (the “Company”) is the oldest investor-owned water utility in the United States, operated continuously since 1816. The Company also owns and operates three wastewater collection systems and ten wastewater collection and treatment systems. The Company is a purely regulated water and wastewater utility. Profitability is largely dependent on water revenues. Due to the size of the Company and the limited geographic diversity of its service territory, weather conditions, particularly precipitation, economic, and market conditions can have an adverse effect on revenues. The Company experienced increased revenues in 2023 compared to 2022 primarily due to a rate increase effective March 1, 2023 and an increase in the number of customers, which was partially offset by lower revenues from the distribution system improvement charge, or DSIC.
- The Company’s business does not require large amounts of working capital and is not dependent on any single customer or a very few customers for a material portion of its business. In 2023, operating revenue was derived from the following sources and in the following percentages: residential, 64%; commercial and industrial, 29%; and other, 7%, which is primarily from the provision for fire service, but includes other water and wastewater service-related income. The diverse customer mix helps to reduce volatility in consumption.