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COMPARATIVE STATEMENT OF OPERATIONS For the Years Ending December 31, 2016 and 2017


2016 Operating Revenue


Cost of Electric Service Cost of Purchased Power


Distribution Expense - Operations & Maintenance Consumer Accounts Expense Administrative and General Expense Depreciation Tax Expense - Gross Receipts & Franchise Tax Interest Expense on Long-Term Debt Interest Expense on Lines of Credit


Total Cost of Electric Service Net Operating Margins Interest Income


Non-Operating Margins Patronage Capital Allocations


Total Patronage Capital or Margins $32,252,444


18,757,556 3,858,023 1,093,378 2,377,867 3,015,227 721,771


1,811,254 6,632


$31,641,708 610,736


72,031 61,156


1,105,663 $1,849,586


2017 $32,779,030


18,762,782 4,751,547 1,117,978 2,212,299 3,760,876 742,979 1,761,437 523,512


$33,633,410 -854,380


60,536 -151,670 787,219 -158,295


BALANCE SHEET for year ending December 31, 2017 ASSETS


Utility Plant...........................................................$101,904,673 Less Accumulated Depreciation.........................29,324,472 Net Utility Plant........................................................72,580,201


Other Property & Investments Investments in Associated Organizations...........13,886,359 Other Investments...................................................479,986 Total Other Property & Investments ......................14,366,345


Current Assets Cash and Temporary Investments........................1,188,209 Accounts & Notes Receivable..............................2,376,329 FEMA Receivable...............................................16,060,767 Materials & Supplies................................................847,353 Pre-Payments..........................................................129,639 Other Current and Accrued Assets..........................847,038 Total Current & Accrued Assets.............................21,449,335


Deferred Charges ......................................................1,271,285 Total Assets..........................................................$109,667,166


Ownership


Equities and Margins......................................... $2,882,899 Patronage Capital.............................................. 26,821,456 Total Margins & Equities........................................ 29,704,355


Non-Current Liabilities Long-Term Debt................................................. 46,229,892 Other Non-Current Liabilities............................... 1,474,287


Total Non-Current Liabilities ................................. 47,704,179 Current Liabilities


Notes Payable - Lines of Credit......................... 27,500,000 Accounts Payable.................................................2,098,112 Consumer Deposits.................................................. 90,700 Current Maturities Long-Term Debt..................... 1,872,879 Other Current and Accrued Liabilities..................... 552,635 Total Current & Accrued Liabilities........................32,114,326


Deferred Credits .......................................................... 144,306 Total Liabilities ................................................... $109,667,166


Financial reports are reviewed annually by an independent auditing firm. 2017 Annual Report 5


EQUITIES & LIABILITIES


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