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2024 Financial Statements

Balance Sheet For Year Ended June 30, 2024

ASSETS

FIXED ASSETS:
 Property, Plant and Equipment559,174,689 
 Less Accumulated Depreciation(157,353,846)
  Total Fixed Assets401,820,843 
 
CURRENT ASSETS:
 Cash2,024,906 
 Accounts Receivable - Net14,294,538 
 Materials & Supplies5,476,272 
 Other Current Assets12,125,336 
  Total Current Assets33,921,052 
 
OTHER ASSETS:
 Investments in Associated Organizations5,584,135 
 Emergency Funds744,578 
 Energy Right Program Loans3,876,807 
 Prepaid Expense & Clearing Accts1,552,315 
 Other Deferred Debits454,345 
  Total Other Assets12,212,180 
 
  Total Assets447,954,075 

LIABILITIES AND NET WORTH

CURRENT LIABILITIES:
 Accounts Payable25,494,859 
 Other Current Liabilities13,175,113 
  Total Current Liabilities38,669,972 
 
OTHER LIABILITIES:
 Energy Right Program Payable3,973,018 
 Long-Term Debt & Post Retire Benefits184,232,481 
  Total Other Liabilities188,205,499 
 
CAPITAL INVESTMENTS:
 Memberships869,830 
 
ACCUMULATED EARNINGS:
 Beginning of Year217,028,442 
 Current Net Income3,180,332 
 Total Earnings Reinvested in System Assets220,208,774 
  Total Liabilities and Net Worth447,954,075 
RECONCILIATION OF NET INCOME TO CASH EXPENDITURES FOR YEAR ENDED JUNE 30, 2024
Operating Revenue
 Sales of Electric Energy259,944,492 
 Other Revenue9,371,826 
  Total Operating Revenue269,316,318 
OPERATING EXPENSES:
 Purchased Power200,427,656 
 Distribution24,895,161 
 Customer Accounting & Collecting6,679,965 
 Administration & General10,389,328 
 Depreciation & Amortization19,301,399 
  Total Operating Expenses261,693,509 
 
Operating Income7,622,809 
 Misc. Income Deduction(127,696)
 Other Income - Interest1,700,655 
 Other Expense - Interest(6,015,436)
  Net Income from Operations3,180,332 
 
Investment in Electric Plant
 Year Ending June 30, 2024(37,353,485)
 Depreciation & Amortization - Net9,402,527 
 Net Change in Long Term Debt26,414,008 
 Net Change in Liabilities4,636,328 
 Net Change in Assets(6,800,893)
 Net Change in Cash(521,183)

2023 Financial Statements

Balance Sheet For Year Ended June 30, 2023

ASSETS

FIXED ASSETS:
 Property, Plant and Equipment521,822,631 
 Less A.D.(147,951,319)
  Total Fixed Assets373,871,312 
 
CURRENT ASSETS:
 Cash2,546,089 
 Accounts Receivable - Net10,279,444 
 Materials & Supplies6,543,729 
 Other Current Assets9,594,908 
  Total Current Assets28,964,170 
 
OTHER ASSETS:
 Investments in Associated Organizations4,571,322 
 Emergency Funds641,785 
 Energy Right Program Loans3,887,002 
 Prepaid Expense & Clearing Accts1,555,882 
 Other Deferred Debits231,934 
  Total Other Assets10,887,925 
 
  Total Assets413,723,407 

LIABILITIES AND NET WORTH

CURRENT LIABILITIES:
 Accounts Payable20,529,895 
 Other Current Liabilities13,657,582 
  Total Current Liabilities34,187,477 
 
OTHER LIABILITIES:
 Energy Right Program Payable4,021,621 
 Long-Term Debt & Post Retire Benefits157,421,669 
  Total Other Liabilities161,443,290 
 
CAPITAL INVESTMENTS:
 Memberships862,360 
 
ACCUMULATED EARNINGS:
 Beginning of Year216,818,765 
 Current Net Income411,515 
 Total Earnings Reinvested in System Assets217,230,280 
  Total Liabilities and Net Worth413,723,407
RECONCILIATION OF NET INCOME TO CASH EXPENDITURES FOR YEAR ENDED JUNE 30, 2023
Operating Revenue
 Sales of Electric Energy259,896,484 
 Other Revenue8,416,355 
  Total Operating Revenue268,312,839 
OPERATING EXPENSES:
 Purchased Power207,196,751 
 Distribution22,534,448 
 Customer Accounting & Collecting6,323,751 
 Administration & General9,535,185 
 Depreciation & Amortization18,718,759
  Total Operating Expenses264,308,894 
 
Operating Income4,003,945 
 Misc. Income Deduction(77,575)
 Other Income - Interest1,205,089 
 Other Expense - Interest(4,719,944)
  Net Income from Operations411,515 
 
Investment in Electric Plant
 Year Ending June 30, 2023(25,049,599)
 Depreciation & Amortization - Net5,506,853 
 Net Change in Long Term Debt12,423,861 
 Net Change in Liabilities(1,449,075)
 Net Change in Assets3,553,866 
 Net Change in Cash(4,602,579)

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)

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