under the wram , cal water records the adopted level of volumetric revenues , which would include recovery of cost of service and a return on investments as established by the cpuc for metered accounts . the adopted volumetric revenue considers the seasonality of consumption of water based upon historical averages . the variance between adopted volumetric revenues and actual billed volumetric revenues for metered accounts is recorded as a component of revenue with an offsetting entry to a regulatory asset or liability balancing account ( tracked individually for each cal water district ) subject to certain criteria under the accounting for regulated operations . the variance amount represents amounts that will be billed or refunded to customers in the future . in addition to volumetric revenues , the revenue requirements approved by the cpuc include service charges , flat rate charges , and other items not subject to the wram . cost-recovery rates are designed to permit full recovery of certain costs allowed to be recovered by the commissions . cost-recovery rates such as the mcba provides for recovery of adopted expense levels for purchased water , purchased power and pump taxes , as established by the cpuc . in addition , cost-recovery rates include recovery of cost related to water conservation programs and certain other operating expenses adopted by the cpuc . variances ( which include the effects of changes in both rate and volume for the mcba ) between adopted and actual costs are recorded as a component of revenue , as the amount of such variances will 31 be recovered from or refunded to our customers at a later date . cost-recovery expenses are generally recognized when the expenses are incurred with no markup for return or profit . the balances in the wram and mcba assets and liabilities accounts will fluctuate on a monthly basis depending upon the variance between adopted and actual results . the recovery or refund of the wram is netted against the mcba over- or under-recovery for the corresponding district and the deferred net balances are interest bearing at the current 90-day commercial paper rate . at the end of the calendar year , cal water files with the cpuc to refund or collect the balance in the accounts . the majority of under-collected net wram and mcba receivable balances are collected over 12 and 18 months . cal water defers any net wram and mcba revenues and associated costs whenever the net receivable balances are estimated to be collected more than 24 months after the respective reporting period in which it was recorded . the deferred net wram and mcba revenue and associated costs were determined using forecasts of customer consumption trends in future reporting periods and the timing of when the cpuc will authorize cal water 's filings to recover unbilled balances . deferred revenues and associated costs are recorded in the periods when the collection is within 24 months of the respective reporting period . customers ' meter reads occur on various business days throughout the month . as a result , there are unmetered or unbilled customer usage each month . the estimated unbilled revenue for monthly unmetered customer usage is recorded using the number of unbilled days for that month and average daily customer billing rate for the previous month . the average daily customer billing rate for the previous month fluctuates depending on customer usage . estimated unbilled revenue is not included in the wram until it is billed . flat rate customers are billed in advance at the beginning of the service period . the revenue is prorated so that the portion of revenue applicable to the current period is included in that period 's revenue , with the balance recorded as unearned revenue on the balance sheet and recognized as revenue when earned in the subsequent accounting period . our unearned revenue liability was $ 0.7 million as of december 31 , 2017 and was $ 0.8 million as of december 31 , 2016. this liability is included in `` other accrued liabilities `` on our consolidated balance sheets . regulated utility accounting because we operate almost exclusively in a regulated business , we are subject to the accounting standards for regulated utilities . the commissions in the states in which we operate establish rates that are designed to permit the recovery of the cost of service and a return on investment . we capitalize and record regulatory assets for costs that would otherwise be charged to expense if it is probable that the incurred costs will be recovered in future rates . regulatory assets are amortized over the future periods that the costs are expected to be recovered . if costs expected to be incurred in the future are currently being recovered through rates , we record those expected future costs as regulatory liabilities . in addition , we record regulatory liabilities when the commissions require a refund to be made to our customers over future periods . determining probability requires significant judgment by management and includes , but is not limited to , consideration of testimony presented in regulatory hearings , proposed regulatory decisions , final regulatory orders , and the strength or status of applications for rehearing or state court appeals . if we determine that a portion of our assets used in utility operations is not recoverable in customer rates , we would be required to recognize the loss of the assets disallowed . income taxes we account for income taxes using the asset and liability method . deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis . we measure deferred tax assets and liabilities at enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . story_separator_special_tag to the best of management 's knowledge , we are meeting water quality , environmental , and other regulatory standards for all company-owned systems . california 's normal weather pattern yields little precipitation between mid-spring and mid-fall . the washington water service areas receive precipitation in all seasons , with the heaviest amounts during the winter . new mexico water 's rainfall is heaviest in the summer monsoon season . hawaii water receives precipitation throughout the year , with the largest amounts in the winter 37 months . water usage in all service areas is highest during the warm and dry summers and declines in the cool winter months . rain and snow during the winter months replenish underground water aquifers and fill reservoirs , providing the water supply for subsequent delivery to customers . management believes that supply pumped from underground aquifers and purchased from wholesale suppliers will be adequate to meet customer demand during 2018 and beyond . however , water rationing may be required in future periods , if declared by the state or local jurisdictions . long-term water supply plans are developed for each of our districts to help assure an adequate water supply under various operating and supply conditions . some districts have unique challenges in meeting water quality standards , but management believes that supplies will meet current standards using current treatment processes . liquidity and capital resources story_separator_special_tag million outstanding on our unsecured revolving line of credit as of december 31 , 2016. as of december 31 , 2016 , there were short-term borrowings of $ 97.1 million outstanding on our unsecured revolving line of credit , compared to $ 33.6 million outstanding on our unsecured revolving line of credit as of december 31 , 2015. given our ability to access our lines of credit on a daily basis , cash balances are managed to levels required for daily cash needs and excess cash is invested in short-term or cash equivalent instruments . minimal operating levels of cash are maintained for washington water , new mexico water , and hawaii water . the company and subsidiaries which it designates may borrow up to $ 150.0 million under its short-term credit facility . cal water may borrow up to $ 300.0 million under its credit facility ; however , all borrowings need to be repaid within 24 months unless otherwise authorized by the cpuc . both short-term credit agreements contain affirmative and negative covenants and events of default customary for credit facilities of this type including , among other things , limitations and prohibitions relating to additional indebtedness , liens , mergers , and asset sales . also , these unsecured credit agreements contain financial covenants governing the company and its subsidiaries ' consolidated total capitalization ratio not to exceed 66.7 % and interest coverage ratio of three or more . as of december 31 , 2017 , our consolidated total capitalization ratio was 56.5 % ( trade payable and short term borrowings are included as debt for this calculation ) and the interest coverage ratio was greater than five . in summary , we have met all of the covenant requirements and are eligible to use the full amounts of these credit agreements . long-term financing cal water was authorized to issue $ 350.0 million of debt and common stock to finance capital projects and operations by a cpuc decision dated may 12 , 2016. in addition , the decision retained $ 146.0 million of prior financing authority and determined that refinancing long-term debt did not count against the authorization . the cpuc requires that any loans from cal water to the company be at arm 's length . this restriction did not materially impact the company 's ability to meet its cash obligations in 2017. management does not expect this restriction to have a material impact on the company 's ability to meet its cash obligations in 2018 and beyond . on march 16 , 2016 , cal water sold $ 50.0 million of first mortgage bonds and used the net proceeds of $ 49.8 million to pay down outstanding short-term borrowings , fund capital expenditures and for general corporate purposes . the company made principal payments on first mortgage bonds and other long-term debt of $ 26.8 million during 2017. on october 13 , 2015 , cal water sold $ 100.0 million of first mortgage bonds and used the net proceeds of $ 99.3 million to pay down outstanding short-term borrowings , fund capital expenditures and for general corporate purposes . we made principal payments on first mortgage bonds and other long-term debt of $ 7.0 million during 2016. long-term financing , which includes first mortgage bonds , senior 39 notes , other debt securities , and common stock , has typically been used to replace short-term borrowings and fund capital expenditures . internally generated funds , after making dividend payments , provide positive cash flow , but have not been at a level to meet the needs of our capital expenditure requirements . management expects this trend to continue given our capital expenditures plan for the next five years . some capital expenditures are funded by payments received from developers for contributions in aid of construction or advances for construction . funds received for contributions in aid of construction are non-refundable , whereas funds classified as advances in construction are refundable . management believes long-term financing is available to meet our cash flow needs through issuances in both debt and equity instruments . additional information regarding the bank borrowings and long-term debt is presented in notes 7 and 8 in the notes to consolidated financial statements . off-balance sheet transactions we do not utilize off-balance-sheet financing or utilize special purpose entity arrangements for financing . we do not have equity ownership through joint ventures or partnership arrangements . contractual obligations the contractual obligations presented in the table below represent our estimates of future payments under fixed contractual obligations and commitments

cash flow from operations during 2017 , we generated cash flow from operations of $ 147.8 million , compared to $ 160.4 million during 2016. the decrease in 2017 was mostly due to an increase in the net wram and mcba receivable in 2017 as actual customer usage was below adopted . during 2016 , we generated cash flow from operations of $ 160.4 million , compared to $ 145.0 million during 2015. the increase in 2016 was mostly due to rate increases as authorized by the cal water 2012 grc decision . the water business is seasonal . billed revenue is lower in the cool , wet winter months when less water is used compared to the warm , dry summer months when water use is highest . this seasonality results in the possible need for short-term borrowings under the bank lines of credit in the event cash is not sufficient to cover operating and capital costs during the winter period . the increase in cash flow during the summer allows short-term borrowings to be paid down . customer water usage can be lower than normal in years when more than normal precipitation falls in our service areas or temperatures are lower than normal , especially in the summer months . the reduction in water usage reduces cash flow from operations and increases the need for short-term bank borrowings . in addition , short-term borrowings are used to finance capital expenditures until long-term financing is arranged . investing activities during 2017 , 2016 , and 2015 , we used $ 259.2 million , $ 228.9 million and $ 176.8 million , respectively , of cash for capital expenditures , both company-funded and developer-funded . the 2017 capital expenditures exceeded the high end of the budgeted capital expenditures of $ 230.0 million . annual expenditures fluctuate each year due to the availability of construction resources and our ability to obtain construction permits in a timely manner . in 2017 , we also received $ 56.0 million in tcp settlement proceeds .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flow from operations during 2017 , we generated cash flow from operations of $ 147.8 million , compared to $ 160.4 million during 2016. the decrease in 2017 was mostly due to an increase in the net wram and mcba receivable in 2017 as actual customer usage was below adopted . during 2016 , we generated cash flow from operations of $ 160.4 million , compared to $ 145.0 million during 2015. the increase in 2016 was mostly due to rate increases as authorized by the cal water 2012 grc decision . the water business is seasonal . billed revenue is lower in the cool , wet winter months when less water is used compared to the warm , dry summer months when water use is highest . this seasonality results in the possible need for short-term borrowings under the bank lines of credit in the event cash is not sufficient to cover operating and capital costs during the winter period . the increase in cash flow during the summer allows short-term borrowings to be paid down . customer water usage can be lower than normal in years when more than normal precipitation falls in our service areas or temperatures are lower than normal , especially in the summer months . the reduction in water usage reduces cash flow from operations and increases the need for short-term bank borrowings . in addition , short-term borrowings are used to finance capital expenditures until long-term financing is arranged . investing activities during 2017 , 2016 , and 2015 , we used $ 259.2 million , $ 228.9 million and $ 176.8 million , respectively , of cash for capital expenditures , both company-funded and developer-funded . the 2017 capital expenditures exceeded the high end of the budgeted capital expenditures of $ 230.0 million . annual expenditures fluctuate each year due to the availability of construction resources and our ability to obtain construction permits in a timely manner . in 2017 , we also received $ 56.0 million in tcp settlement proceeds .
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 Suspicious Activity Report : under the wram , cal water records the adopted level of volumetric revenues , which would include recovery of cost of service and a return on investments as established by the cpuc for metered accounts . the adopted volumetric revenue considers the seasonality of consumption of water based upon historical averages . the variance between adopted volumetric revenues and actual billed volumetric revenues for metered accounts is recorded as a component of revenue with an offsetting entry to a regulatory asset or liability balancing account ( tracked individually for each cal water district ) subject to certain criteria under the accounting for regulated operations . the variance amount represents amounts that will be billed or refunded to customers in the future . in addition to volumetric revenues , the revenue requirements approved by the cpuc include service charges , flat rate charges , and other items not subject to the wram . cost-recovery rates are designed to permit full recovery of certain costs allowed to be recovered by the commissions . cost-recovery rates such as the mcba provides for recovery of adopted expense levels for purchased water , purchased power and pump taxes , as established by the cpuc . in addition , cost-recovery rates include recovery of cost related to water conservation programs and certain other operating expenses adopted by the cpuc . variances ( which include the effects of changes in both rate and volume for the mcba ) between adopted and actual costs are recorded as a component of revenue , as the amount of such variances will 31 be recovered from or refunded to our customers at a later date . cost-recovery expenses are generally recognized when the expenses are incurred with no markup for return or profit . the balances in the wram and mcba assets and liabilities accounts will fluctuate on a monthly basis depending upon the variance between adopted and actual results . the recovery or refund of the wram is netted against the mcba over- or under-recovery for the corresponding district and the deferred net balances are interest bearing at the current 90-day commercial paper rate . at the end of the calendar year , cal water files with the cpuc to refund or collect the balance in the accounts . the majority of under-collected net wram and mcba receivable balances are collected over 12 and 18 months . cal water defers any net wram and mcba revenues and associated costs whenever the net receivable balances are estimated to be collected more than 24 months after the respective reporting period in which it was recorded . the deferred net wram and mcba revenue and associated costs were determined using forecasts of customer consumption trends in future reporting periods and the timing of when the cpuc will authorize cal water 's filings to recover unbilled balances . deferred revenues and associated costs are recorded in the periods when the collection is within 24 months of the respective reporting period . customers ' meter reads occur on various business days throughout the month . as a result , there are unmetered or unbilled customer usage each month . the estimated unbilled revenue for monthly unmetered customer usage is recorded using the number of unbilled days for that month and average daily customer billing rate for the previous month . the average daily customer billing rate for the previous month fluctuates depending on customer usage . estimated unbilled revenue is not included in the wram until it is billed . flat rate customers are billed in advance at the beginning of the service period . the revenue is prorated so that the portion of revenue applicable to the current period is included in that period 's revenue , with the balance recorded as unearned revenue on the balance sheet and recognized as revenue when earned in the subsequent accounting period . our unearned revenue liability was $ 0.7 million as of december 31 , 2017 and was $ 0.8 million as of december 31 , 2016. this liability is included in `` other accrued liabilities `` on our consolidated balance sheets . regulated utility accounting because we operate almost exclusively in a regulated business , we are subject to the accounting standards for regulated utilities . the commissions in the states in which we operate establish rates that are designed to permit the recovery of the cost of service and a return on investment . we capitalize and record regulatory assets for costs that would otherwise be charged to expense if it is probable that the incurred costs will be recovered in future rates . regulatory assets are amortized over the future periods that the costs are expected to be recovered . if costs expected to be incurred in the future are currently being recovered through rates , we record those expected future costs as regulatory liabilities . in addition , we record regulatory liabilities when the commissions require a refund to be made to our customers over future periods . determining probability requires significant judgment by management and includes , but is not limited to , consideration of testimony presented in regulatory hearings , proposed regulatory decisions , final regulatory orders , and the strength or status of applications for rehearing or state court appeals . if we determine that a portion of our assets used in utility operations is not recoverable in customer rates , we would be required to recognize the loss of the assets disallowed . income taxes we account for income taxes using the asset and liability method . deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis . we measure deferred tax assets and liabilities at enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . story_separator_special_tag to the best of management 's knowledge , we are meeting water quality , environmental , and other regulatory standards for all company-owned systems . california 's normal weather pattern yields little precipitation between mid-spring and mid-fall . the washington water service areas receive precipitation in all seasons , with the heaviest amounts during the winter . new mexico water 's rainfall is heaviest in the summer monsoon season . hawaii water receives precipitation throughout the year , with the largest amounts in the winter 37 months . water usage in all service areas is highest during the warm and dry summers and declines in the cool winter months . rain and snow during the winter months replenish underground water aquifers and fill reservoirs , providing the water supply for subsequent delivery to customers . management believes that supply pumped from underground aquifers and purchased from wholesale suppliers will be adequate to meet customer demand during 2018 and beyond . however , water rationing may be required in future periods , if declared by the state or local jurisdictions . long-term water supply plans are developed for each of our districts to help assure an adequate water supply under various operating and supply conditions . some districts have unique challenges in meeting water quality standards , but management believes that supplies will meet current standards using current treatment processes . liquidity and capital resources story_separator_special_tag million outstanding on our unsecured revolving line of credit as of december 31 , 2016. as of december 31 , 2016 , there were short-term borrowings of $ 97.1 million outstanding on our unsecured revolving line of credit , compared to $ 33.6 million outstanding on our unsecured revolving line of credit as of december 31 , 2015. given our ability to access our lines of credit on a daily basis , cash balances are managed to levels required for daily cash needs and excess cash is invested in short-term or cash equivalent instruments . minimal operating levels of cash are maintained for washington water , new mexico water , and hawaii water . the company and subsidiaries which it designates may borrow up to $ 150.0 million under its short-term credit facility . cal water may borrow up to $ 300.0 million under its credit facility ; however , all borrowings need to be repaid within 24 months unless otherwise authorized by the cpuc . both short-term credit agreements contain affirmative and negative covenants and events of default customary for credit facilities of this type including , among other things , limitations and prohibitions relating to additional indebtedness , liens , mergers , and asset sales . also , these unsecured credit agreements contain financial covenants governing the company and its subsidiaries ' consolidated total capitalization ratio not to exceed 66.7 % and interest coverage ratio of three or more . as of december 31 , 2017 , our consolidated total capitalization ratio was 56.5 % ( trade payable and short term borrowings are included as debt for this calculation ) and the interest coverage ratio was greater than five . in summary , we have met all of the covenant requirements and are eligible to use the full amounts of these credit agreements . long-term financing cal water was authorized to issue $ 350.0 million of debt and common stock to finance capital projects and operations by a cpuc decision dated may 12 , 2016. in addition , the decision retained $ 146.0 million of prior financing authority and determined that refinancing long-term debt did not count against the authorization . the cpuc requires that any loans from cal water to the company be at arm 's length . this restriction did not materially impact the company 's ability to meet its cash obligations in 2017. management does not expect this restriction to have a material impact on the company 's ability to meet its cash obligations in 2018 and beyond . on march 16 , 2016 , cal water sold $ 50.0 million of first mortgage bonds and used the net proceeds of $ 49.8 million to pay down outstanding short-term borrowings , fund capital expenditures and for general corporate purposes . the company made principal payments on first mortgage bonds and other long-term debt of $ 26.8 million during 2017. on october 13 , 2015 , cal water sold $ 100.0 million of first mortgage bonds and used the net proceeds of $ 99.3 million to pay down outstanding short-term borrowings , fund capital expenditures and for general corporate purposes . we made principal payments on first mortgage bonds and other long-term debt of $ 7.0 million during 2016. long-term financing , which includes first mortgage bonds , senior 39 notes , other debt securities , and common stock , has typically been used to replace short-term borrowings and fund capital expenditures . internally generated funds , after making dividend payments , provide positive cash flow , but have not been at a level to meet the needs of our capital expenditure requirements . management expects this trend to continue given our capital expenditures plan for the next five years . some capital expenditures are funded by payments received from developers for contributions in aid of construction or advances for construction . funds received for contributions in aid of construction are non-refundable , whereas funds classified as advances in construction are refundable . management believes long-term financing is available to meet our cash flow needs through issuances in both debt and equity instruments . additional information regarding the bank borrowings and long-term debt is presented in notes 7 and 8 in the notes to consolidated financial statements . off-balance sheet transactions we do not utilize off-balance-sheet financing or utilize special purpose entity arrangements for financing . we do not have equity ownership through joint ventures or partnership arrangements . contractual obligations the contractual obligations presented in the table below represent our estimates of future payments under fixed contractual obligations and commitments

