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2022 Financial Statements

Balance Sheet For Year Ended June 30, 2022

ASSETS

FIXED ASSETS:
 Property, Plant and Equipment496,774,459
 Less A.D.(142,444,466)
  Total Fixed Assets354,329,993
 
CURRENT ASSETS:
 Cash7,148,668
 Accounts Receivable - Net14,644,576
 Materials & Supplies3,990,423
 Other Current Assets12,408,829
  Total Current Assets38,192,496
 
OTHER ASSETS:
 Investments in Associated Organizations4,467,036
 Other Special Funds574,497
 Energy Right Program Loans3,931,937
 Prepaid Expense & Clearing Accts841,147
  Total Other Assets9,814,617
 
  Total Assets402,337,106

LIABILITIES AND NET WORTH

CURRENT LIABILITIES:
 Accounts Payable23,163,550
 Other Current Liabilities12,603,959
  Total Current Liabilities35,767,509
 
OTHER LIABILITIES:
 Energy Right Program Payable4,069,757
 Long-Term Debt & Post Retire Benefits145,102,898
  Total Other Liabilities149,172,655
 
CAPITAL INVESTMENTS:
 Memberships855,420
 
ACCUMULATED EARNINGS:
 Beginning of Year208,075,188
 Current Net Income8,466,334
 Total Earnings Reinvested in System Assets216,541,522
  Total Liabilities and Net Worth402,337,106
RECONCILIATION OF NET INCOME TO CASH EXPENDITURES FOR YEAR ENDED JUNE 30, 2022
Operating Revenue
 Sales of Electric Energy251,057,259
 Other Revenue9,136,445
  Total Operating Revenue260,193,704
OPERATING EXPENSES:
 Purchased Power192,924,121
 Distribution21,804,920
 Customer Accounting & Collecting6,455,860
 Administration & General8,900,136
 Depreciation & Amortization17,864,986
  Total Operating Expenses247,950,023
 
Operating Income12,243,681
 Misc. Income Deduction(111,011)
 Other Income - Interest817,401
 Other Expense - Interest(4,483,737)
  Net Income from Operations8,466,334
 
Investment in Electric Plant
 Year Ending June 30, 2022(16,468,851)
 Depreciation & Amortization - Net8,074,525
 Net Change in L.T. Debt(7,272,369)
 Net Change in Liabilities3,216,568
 Net Change in Assets(6,071,343)
 Net Change in Cash(10,055,136)

2021 Financial Statements

Balance Sheet For Year Ended June 30, 2021

ASSETS

FIXED ASSETS:
 Property, Plant and Equipment480,307,036
 Less A.D.(134,369,941)
  Total Fixed Assets345,937,095
 
CURRENT ASSETS:
 Cash17,203,804
 Accounts Receivable - Net11,867,799
 Materials & Supplies3,522,371
 Other Current Assets9,421,598
  Total Current Assets42,015,572
 
OTHER ASSETS:
 Investments in Associated Organizations4,264,360
 Other Special Funds614,250
 Energy Right Program Loans4,245,820
 Prepaid Expense & Clearing Accts849,476
 Other Deferred Debits-
  Total Other Assets9,973,906
 
  Total Assets397,926,573

LIABILITIES AND NET WORTH

CURRENT LIABILITIES:
 Accounts Payable19,838,886
 Other Current Liabilities12,509,879
  Total Current Liabilities32,348,765
 
OTHER LIABILITIES:
 Energy Right Program Payable4,366,862
 Long-Term Debt & Post Retire Benefits152,665,097
  Total Other Liabilities157,031,959
 
CAPITAL INVESTMENTS:
 Memberships848,150
 
ACCUMULATED EARNINGS:
 Beginning of Year200,358,431
 Current Net Income7,339,268
 Total Earnings Reinvested in System Assets207,697,699
  Total Liabilities and Net Worth397,926,573
RECONCILIATION OF NET INCOME TO CASH EXPENDITURES FOR YEAR ENDED JUNE 30, 2021
Operating Revenue
 Sales of Electric Energy231,938,376
 Other Revenue8,080,523
  Total Operating Revenue240,018,899
OPERATING EXPENSES:
 Purchased Power176,139,589
 Distribution21,334,098
 Customer Accounting & Collecting4,345,108
 Administration & General9,733,106
 Depreciation & Amortization17,152,245
  Total Operating Expenses228,704,146
 
Operating Income11,314,753
 Misc. Income Deduction(18,070)
 Other Income - Interest638,867
 Other Expense - Interest(4,596,282)
  Net Income from Operations7,339,268
 
Investment in Electric Plant
 Year Ending June 30, 2021(18,018,638)
 Depreciation & Amortization - Net5,366,469
 Net Change in L.T. Debt18,093,318
 Net Change in Liabilities(1,344,715)
 Net Change in Assets(1,666,356)
 Net Change in Cash9,769,346

2020 Financial Statements

Balance Sheet For Year Ended June 30, 2020

ASSETS

FIXED ASSETS:
 Property, Plant and Equipment462,289,825
 Less A.D.(129,003,472)
  Total Fixed Assets333,286,353
 
CURRENT ASSETS:
 Cash7,434,459
 Accounts Receivable - Net11,291,590
 Materials & Supplies2,824,112
 Other Current Assets8,594,802
  Total Current Assets30,144,963
 
OTHER ASSETS:
 Investments in Associated Organizations4,103,558
 Other Special Funds488,178
 Energy Right Program Loans4,647,367
 Prepaid Expense & Clearing Accts814,430
 Other Deferred Debits353,854
  Total Other Assets10,407,387
 
  Total Assets373,838,703

LIABILITIES AND NET WORTH

CURRENT LIABILITIES:
 Accounts Payable22,263,067
 Other Current Liabilities11,225,268
  Total Current Liabilities33,488,335
 
OTHER LIABILITIES:
 Energy Right Program Payable4,799,816
 Long-Term Debt & Post Retire Benefits134,032,839
  Total Other Liabilities138,832,655
 
CAPITAL INVESTMENTS:
 Memberships839,130
 
ACCUMULATED EARNINGS:
 Beginning of Year194,799,731
 Current Net Income5,878,852
 Total Earnings Reinvested in System Assets200,678,583
  Total Liabilities and Net Worth373,838,703
RECONCILIATION OF NET INCOME TO CASH EXPENDITURES FOR YEAR ENDED JUNE 30, 2020
Operating Revenue
 Sales of Electric Energy230,644,556
 Other Revenue7,652,713
  Total Operating Revenue238,297,269
OPERATING EXPENSES:
 Purchased Power177,956,255
 Distribution20,187,267
 Customer Accounting & Collecting5,573,271
 Administration & General8,303,357
 Depreciation & Amortization16,451,046
  Total Operating Expenses228,471,196
 
Operating Income9,826,073
 Misc. Income Deduction(55,058)
 Other Income - Interest1,634,405
 Other Expense - Interest(5,526,568)
  Net Income from Operations5,878,852
 
Investment in Electric Plant
 Year Ending June 30, 2020(20,891,164)
 Depreciation & Amortization - Net6,701,386
 Net Change in L.T. Debt12,443,033
 Net Change in Liabilities(5,317,579)
 Net Change in Assets3,152,382
 Net Change in Cash1,966,910

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