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Annual Report - Financial Statements

 

Year End 2009 Independent Auditor's Report (PDF)

2009 Sales of Electricity Data
Customer Class	Accounts	kWh Sold	$ Revenue
Regular Residential	12000	192,356,234	$13,899,874
Seasonal Residential	6317	50,392,616	4,143,782
Small Commercial	2025	82,919,547	5,442,224
Large Commercial	77	39,525,616	2,138,347
Industrial	13	83,964,186	3,789,472
Lighting		820,182	382,653
Total	20,432	449,978,381	29,796,352

2009 Expenses (%)
Power Supply Expense	51.1%
Operating Expense	36.7%
Depreciation	7.0%
Taxes	2.4%
Interest on Long-Term Debt	2.8%
	100.0%

2009 Sales of Electricity (%)
Regular Residential	46.4%
Seasonal Residential	13.9%
Small Commercial	18.3%
Large Commercial	7.2%
Industrial	12.7%
Lighting	1.3%
	100.0%

 

Operating Statement
		2009	2008
Revenues:
	Sales of Electricity	$     29,796,352	$     28,511,794
	Other Sales Revenue	338,325	328,074
	Interest & Other Income	115,248	321,677
Total Revenues		30,249,925	29,161,545
Expenses:
	Power Supply Expense	14,758,958	11,635,767
	Operating Expense	10,597,414	9,954,510
	Depreciation	2,030,529	1,958,724
	Taxes	694,453	648,338
	Interest on Long-Term Debt	816,693	968,721
Total Expenses		28,898,047	25,166,060
Net Margins		$       1,351,878	$       3,995,485

 

Balance Sheet
		2009	2008
Assets:
	Net Utility Plant	$     58,655,251	$     53,311,033
	Reserve Funds	5,768,845	5,768,845
	Current Assets	7,531,852	8,515,403
	Other Assets	1,304,483	4,982,913
Total Assets		$     73,260,431	$     72,578,194
Liabilities & Net Assets:
	Long-Term Debt	$     23,878,353	$     24,903,706
	Other Liabilities	5,941,601	5,585,889
Total Liabilities		29,819,954	30,489,595
	Restricted Net Assets	6,349,397	6,266,343
	Unrestricted Net Assets	37,091,080	35,822,256
Total Liabilities & Net Assets		$     73,260,431	$     72,578,194
Customers' ownership of the District stands at 59.3% of gross
system value with a debt free equity of 43.4 million dollars.