By the Numbers – 2025 Financials

Balance Sheets

	2025	2024
Utility Plant Electric Plant in Service	$ 264,287,931	$ 231,846,212
Construction Work in Process	33,280,688	56,178,242
(Accumulated Provision for Depreciation)	297,568,619 (73,471,007)	288,024,454 (70,720,116)
Total Utility Plant	224,097,612	217,304,338
Other Property and Investments at Cost or Stated Value
Investments in Associated Organizations and Other Funds	14,592,881	20,903,210
Notes Receivable	92,179,307	54,323,482
Total Other Property and Investments at Cost or Stated Value	106,772,188	75,226,692
Current Assets Cash – General	293,077	74,695
Accounts Receivable	33,551,954	18,500,254
Unbilled Revenues	2,094,526	1,730,525
Materials and Supplies	8,632,790	11,863,369
Other Current and Accrued Assets	427,041	531,438
Total Current Assets	44,999,388	32,700,281
Deferred Charges	7,671,926	20,821,628
Total Assets	$ 383,541,114	$ 346,052,939

	2025	2024
Equities Memberships	$ 109,765	$ 108,330
Patronage Capital	70,928,993	65,612,746
Other Comprehensive Income (209)	393,705	393,705
Total Equities	71,432,463	66,114,781
Long-term Debt Notes Payable, Net of Current Maturities	103,406,508	75,959,764
Capital Lease Obligations	1,531,237	2,147,801
Post-retirement Benefit Obligation	412,494	400,007
Total Long-term Debt	105,350,239	78,507,572
Current Portion of Long-term Debt	3,259,985	3,185,395
Current Portion of Capital Lease Obligations	692,497	594,040
Line of Credit	189,144,982	151,896,794
Accounts Payable – Purchased Power	3,680,981	3,324,379
Accounts Payable – Other	4,101,659	32,285,799
Overbilled Wholesale Power Cost Adjustment	-231,533	2,124,926
Consumer Deposits	1,883,634	1,720,765
Accrued Employee Compensated Absences	1,579,181	2,001,550
Other Current Liabilities	519,855	555,974
Total Current Liabilities	204,631,241	197,689,622
Deferred Credits	2,127,171	3,740,964
Total Equities and Liabilities	$ 383,541,114	$ 346,052,939

	December 31
	2025		2024		Increase (Decrease)
	Amount	%	Amount	%
Operating Revenue	94,187,352	100.0	76,763,337	100.0	$ 17,424,015
Operating Expenses Cost of Purchased Power	47,330,142	50.3%	40,876,085	53.2%	6,454,057
Distribution – Operations	3,378,209	3.6%	3,227,460	4.2%	150,749
Distribution – Maintenance	14,580,909	15.5%	13,066,090	17.0%	1,514,819
Consumer Accounts	1,667,323	1.8%	2,040,474	2.7%	(373,151)
Selling Expense	32,447	0.0%	215,994	0.3%	(183,547)
Administrative and General	5,609,546	6.0%	6,639,421	8.6%	(1,029,875)
Depreciation and Amortization	8,567,196	9.1%	7,685,637	10.0%	881,559
(Total Operating Expenses)	81,165,772	86.2%	73,751,161	96.1%	7,414,611
Operating Margins Before Fixed Charges	13,021,580	13.8%	3,012,176	3.9%	10,009,404
Fixed Charges (Interest on Debt)	7,291,893	7.7%	3,551,219	4.6%	3,740,674
Operating Margins After Fixed Charges	5,729,687	6.1%	-539,043	-0.7%	6,268,730
G & T and Other Capital Credits	2,371,122	2.5%	2,459,971	3.2%	(88,849)
Net Operating Margins	8,100,809	8.6%	1,920,928	2.5%	6,179,881
Nonoperating Income/Loss Interest Income & Other	752,039	0.8%	1,151,005	1.5%	(398,966)
Loss From Investments	-3,904,475	-4.1%	0	0.0%	-3,904,475
Total Nonoperating Margins	-3,152,436	-3.3%	1,151,005	1.5%	-4,303,441
Net Margins	4,948,373	5.3%	3,071,933	4.0%	1,876,440

Financial Statements are unaudited. Audited Financial Statements were unavailable at the time of print.

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