Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90Seattle City Light 2015 Annual Report 37 THE CITY OF SEATTLE—CITY LIGHT DEPARTMENT NOTES TO FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014 - 37 - Foreign Currency Risk—The City Treasury pooled investment do not include securities denominated in in foreign currencies. Reverse Repurchase Agreements—RCW 35.39.030 and City investment policy allow the investment of City monies in excess of current City needs in reverse repurchase agreements. However, at this time, the City does not engage itself in this type of investment strategy. The City of Seattle’s Comprehensive Annual Financial Report may be obtained by writing to The City of Seattle, Department of Finance and Administrative Services, P.O. Box 94680, Seattle, WA 98124- 4689; telephone: (206) 684-2489, or obtained on-line at http:/www.seattle.gov/financial- services/comprehensive-annual-financial-report. 5. ACCOUNTS RECEIVABLE Accounts receivable at December 31, 2015 and 2014, consist of: ($ in millions) Retail Wholesale Other Operating Nonoperating Electric Power Operating Subtotal Subtotal Total 2015 Accounts receivable 46.3 $ 9.8 $ 11.5 $ 67.6 $ 19.5 $ 87.1 $ Less allowance for doubtful accounts (2.8) - (5.6) (8.4) - (8.4) 43.5 $ 9.8 $ 5.9 $ 59.2 $ 19.5 $ 78.7 $ 2014 Accounts receivable 42.3 $ 14.8 $ 9.9 $ 67.0 $ 13.8 $ 80.8 $ Less allowance for doubtful accounts (2.8) - (4.9) (7.7) - (7.7) 39.5 $ 14.8 $ 5.0 $ 59.3 $ 13.8 $ 73.1 $ Wholesale power receivable includes $1.5 million at December 31, 2015, and $1.6 million at December 31, 2014, for exchange energy at fair value under long-term contracts (see Note 17 Long-Term Purchased Power, Exchanges, and Transmission). 6. OTHER ASSETS Seattle City Council passed resolutions authorizing debt financing and reporting as regulatory assets certain costs in accordance with Statement No. 62 of the GASB, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB & AICPA Pronouncements. Programmatic conservation costs incurred by the Department and not funded by third parties and Endangered Species Act costs are reported as regulatory assets in accordance with GASB Statement No. 62 and amortized over 20 years. Endangered Species Act costs are amortized over the remaining license period (see Note 16 Commitments and Contingencies). Environmental costs reported as regulatory assets are amortized over 25 years, beginning in the year costs are paid. Other assets, which are not covered under GASB Statement No. 62, consist of: ● Suburban infrastructure long-term receivables are underground electrical infrastructure costs for suburban jurisdictions, which are recovered through rates from customers within the respective jurisdictions for a period of approximately 25 years, as approved by the Seattle City Council.