Financial Reports
Condensed Income and Expense Statement
Income |
2020 |
2019 |
Operating Revenues |
$34,024,165 |
$36,433,160 |
Interest, Other Non-operating, Other Capital Credits |
$634,589 |
$798,482 |
Total Income$$ |
$34,658,754 |
$37,231,642 |
Expenses |
2020 |
2019 |
Cost of Power Purchased |
$26,065,296 |
$28,401,429 |
Operations |
1,102,254 |
1,095,703 |
Maintenance |
1,431,084 |
1,500,945 |
Consumer Accounts |
584,728 |
654,944 |
Administrative and General |
1,183,289 |
1,348,498 |
Depreciation |
1,913,354 |
1,793,605 |
Taxes |
477,536 |
520,055 |
Interest Expense |
788,670 |
957,975 |
Total Expenses |
$33,546,211 |
$36,273,154 |
Margins |
2020 |
2019 |
Operating Margins |
$477,954 |
$160,006 |
Non-Operating Margins |
634,589 |
798,482 |
Hoosier Energy Capital Credits |
442,295 |
721,969 |
Total Margins |
$1,554,838 |
$1,680,457 |
Condensed Statement of Assets & Liabilities
As of December 31, 2020
Assets (What We Own) |
2020 |
2019 |
Cost Of Our Electric System |
$58,785,470 |
$54,422,957 |
Accumulated Depreciation |
(17,775,330) |
(15,736,753) |
Utility Plant In Service, Net |
$41,010,140 |
$37,627,123 |
Investments (patronage capital) |
14,771,763 |
15,014,513 |
Investments (other) |
740,842 |
927,021 |
Cash and Cash Equivalents |
3,877,353 |
3,354,728 |
Accounts Receivable |
3,828,829 |
3,601,034 |
Materials & supplies |
293,651 |
308,687 |
Prepaid Expenses & Interest Receivable |
256,832 |
360,623 |
Total Assets |
$64,779,410 |
$61,193,729 |
Liabilities (What We Owe) |
2020 |
2019 |
Our Debt to RUS and CFC |
$14,916,820 |
$14,019,339 |
Accounts Payable |
4,622,093 |
2,979,742 |
Other Current & Accrued Liabilities |
1,678,433 |
1,776,765 |
Total Liabilities |
$21,217,346 |
$18,775,846 |
<td$61,193,729$60,785,323
Member Equity (Net Worth to Members) |
2020 |
2019 |
Balance of Net Gain For Prior Years |
40,737,426 |
40,737,426 |
Net Gain For Current Year |
42,417,883 |
42,417,883 |
Total Member Equity |
43,562,064 |
42,417,883 |
Total Liabilities and Member Equity |
$64,779,410 |
$18,775,846 |
Where the Revenue Comes From
Residential — 41.6%
Industrial — 48.9%
Commercial — 9.4%
Average Costs
(cents per KWH)
2020 — 0.0819
2019 — 0.0798
2018 — 0.0829
2017 — 0.0805
2016 — 0.0809
2015 — 0.0814
Where your Electric Dollar is Spent
Purchased Power – HE — 78%
Operations — 3%
Maintenance — 4%
Consumer Accounts — 2%
Admin & General — 4%
Depreciation — 5%
Taxes — 1%
Interest Paid — 3%
Operating Margins — 0.4%