AUDITED STATEMENT OF REVENUE AND EXPENSE

                                           Year Ended December 31, 2007

REVENUE

     Operating Revenue and Patronage Capital      $26,845,382.08

OPERATING EXPENSE

     Purchased Power                                                17,152,720.00

     Operating Expense                                               5,107,736.57

     Depreciation Expense                                          2,141,069.15

     Taxes                                                                   219,754.96

             Total Cost of Electric Service                    $24,621,280.68

Patronage Capital & Margins from Operations    $2,224,101.40

 

NON-OPERATING MARGINS

 Interest Revenue & Other Non-Operating Margins        158,328.42

 Net Patronage Capital and Margins                              $2,382,429.82

 

 

Balance Sheet as of December 31, 2007

 

ASSETS AND OTHER DEBITS

Electric Plant                                              $68,000,314.48

 Less Revenue for Depreciation                 24,107,254.99

                                                   

  Renewal & Replacement Fund                  $43,893,059.49

  & Other Restricted Funds                                     1,822,340.60

 Other Investments                                                 118,497.55

 Cash - General Fund                                              2,244,624.55

 Temporary Cash Investments                               204,472.80

 Accounts Receivable, Less Reserve                     892,240.95

 Materials and Supplies - Electric                          1,406,126.98

 Prepayments                                                         27,669.88

 Deferred Debits                                                    95,333.03

     TOTAL ASSETS AND OTHER DEBITS                $50,704,365.83

 

 

LIABILITIES AND OTHER CREDITS

 Accounts Payable                                                           1,691,314.10

 Consumer Deposits                                                        300,495.00

 Other Current & Accrued Liabilities                               135,684.77

 Deferred Credits                                                             692,433.43

 Membership Fees                                                           86,435.00

 Other Margins and Equities                                           697,472.57

 Patronage Capital Credits                                              41,417,336.71

 Other Equities                                                                60,326.89

 FASB 106 Adjustment                                                     5,622,867.36

    TOTAL LIABILITIES AND OTHER CREIDTS               $50,704,365.83