Annual Reports

Financial Reports

Condensed Income and Expense Statement

Income 2021 2022
Operating Revenues $38,267,694  $45,759
Interest, Other Non-operating, Other Capital Credits $406,577  $225,924
Total Income $38,674,271 $36,577,896
Expenses 2021 2022
Cost of Power Purchased $28,998,129 $36,577,896
Operations 1,047,434  1,097,926
Maintenance 1,723,710 2,169,180
Consumer Accounts 669,557 677,223
Administrative and General 1,371,087 1,515,208
Depreciation 2,058,051 2,171,056
Taxes 705,439  500,082
Interest Expense 753,510 839,547
Total Expenses $37,326,377 $45,548,118
Margins 2021 2022
Operating Margins $941,317 $211,174
Non-Operating Margins 406,577 225,924
Hoosier Energy Capital Credits 442,295  700,585
Total Margins $1,554,838 $1,137,682

Condensed Statement of Assets & Liabilities

Assets (What We Own) 2021 2022
Cost Of Our Electric System $63,808,862 $69,770,988
Accumulated Depreciation (19,053,796) (20,135,520)
Utility Plant In Service, Net $44,755,066 $49,635,468
Investments (patronage capital) 15,133,524 15,082,306
Investments (other) 582,070 423,298
Cash and Cash Equivalents 4,636,932 5,684,969
Accounts Receivable 4,772,834 5,504,836
Materials & supplies 403,598 486,843
Prepaid Expenses & Interest Receivable 169,715 101,882
Total Assets $70,453,739 $76,919,602
Liabilities (What We Owe) 2021 2022
Our Debt to RUS and CFC $18,579,035 $23,792,106
Accounts Payable 4,496,274 5,110,245
Other Current & Accrued Liabilities 1,748,298 1,784,006
Total Liabilities $24,823,607 $30,686,657
Member Equity (Net Worth to Members) 2021 2022
Balance of Net Gain For Prior Years 43,459,414 45,095,562
Net Gain For Current Year 1,554,838 1,137,683
Total Member Equity 43,562,064 46,233,245
Total Liabilities and Member Equity $64,779,410 $76,919,602

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