14 CAR § 2-102. Definitions

The following definitions are supplemental to the definitions in Arkansas Code § 14-234-801 et seq.: (1) “Annualized revenue requirement” means the projected revenue if the recommended increase, as well as all previous recommended increases, is in effect for the full twelve-month period; (2) “Commission” means the Arkansas Natural Resources Commission; (3) “Debt service coverage ratio” means net operating income divided by total debt service; (4) “Department” means the Department of Agriculture, including the Natural Resources Division thereof; (5) “Future capital expenses” means the design and construction of new and replacement infrastructure, including any associated labor and fees; (6) “Net operating income” means earnings before interest, tax, depreciation, and amortization less capital expenditures; (7) “Nonoperating revenue” means revenue derived from sources other than water use charges; (8) “Provider board” as used herein shall have the definition provided in Arkansas Code § 14-234-801(b)(3); (9) “System” means: (A) For a provider that provides water service only, the provider’s water system; (B) For a provider that provides water service and sewer service, but where the water system and the sewer system are not operated as a joint and integrated undertaking (i.e., when a separate audit is prepared for water and for sewer), the provider’s water system; and (C) For a provider that provides water service and sewer service, and the water facilities are operated as a joint and integrated undertaking (i.e., when water and sewer are combined in a single audit), the provider’s joint and integrated water and sewer system; and (10) “Total debt service” means current debt obligations, including but not limited to any interest, principal, sinking fund, and lease payments due in a given year.