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Annual Report - Financial Statements

 

Year End 2007 Independent Auditor's Report (5MB PDF)

2007 Sales of Electricity Data
Customer Class	Accounts	kWh Sold	$ Revenue
Regular Residential	11,728	180,172,878	$12,992,960
Seasonal Residential	6,235	45,814,390	3,819,856
Small Commercial	2,033	80,658,831	5,272,622
Large Commercial	75	40,792,910	2,178,858
Industrial	12	76,062,514	3,348,201
Lighting		4,814,543	376,611
Total	20,083	428,316,066	$27,989,008

2007 Expenses (%)
Power Supply Expense	52.7%
Operating Expense	35.2%
Depreciation	6.5%
Taxes	2.6%
Interest on Long-Term Debt	3.0%
	100.0%

2007 Sales of Electricity (%)
Regular Residential	46.4%
Seasonal Residential	13.6%
Small Commercial	18.8%
Large Commercial	7.8%
Industrial	12.1%
Lighting	1.3%
	100.0%

Operating Statement
Revenues:		2006	2007
	Sales of Electricity	$28,484,858	$27,989,008
	Other Sales Revenue	365,221	352,726
	Interest & Other Income	460,530	372,040
Total Revenues		$29,310,609	$28,713,774
Expenses:
	Power Supply Expense	15,078,891	14,275,549
	Operating Expense	9,174,587	9,539,160
	Depreciation	1,732,213	1,759,776
	Taxes	747,534	695,572
	Interest on Long-Term Debt	813,699	819,240
Total Expenses		$27,546,924	$27,089,297
	Net Margins	$1,763,685	$1,624,477

Balance Sheet
Assets:		2006	2007
	Net Utility Plant	$48,258,503	$51,302,504
	Reserve Funds	4,544,103	4,325,923
	Current Assets	7,633,271	4,467,523
	Other Assets	1,929,355	3,945,911
Total Assets		$62,365,232	$64,041,861
Liabilities:
	Long Term Debt	$19,992,708	$19,319,032
	Other Liabilities	5,903,887	6,629,715
Total Liabilities		$25,896,595	$25,948,747
	Restricted Net Assets	4,279,945	4,325,923
	Unrestricted Net Assets	32,188,692	33,767,191
Total Liabilities & Equity		$62,365,232	$64,041,861