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SEPTEMBER - OCTOBER 2011


BALANCE SHEET For the years ended June 30, 2009 and 2010 ASSETS


UTILITY PLANT Electric Plant in service, at cost


Less: Accumulated provision for depreciation and amortization


Net Utility Plant


Investment in associated organizations


CURRENT ASSETS Cash


Temporary cash investments


Accounts receivable, less allowance for doubtful accounts:


2011-$97,916; 2010 -$117,308


Materials and supplies, at average cost Other current assets


Total Current Assets: Deferred charges


TOTAL CURRENT ASSETS LIABILITIES & MEMBER EQUITY


EQUITIES AND MARGINS Memberships


Patronage capital Other equities


Total Equities & Margins


LONG TERM DEBT Long-term debt


Deferred gain on extinguishment of debt Other non-current liabilities (Note 12)


CURRENT LIABILITIES Current maturities of long-term debt


Line of credit


Accounts payable Consumer deposits


Other current and accrued liabilities Total Current Liabilities


Deferred credits Contingent liabilities


7,114,444 327,869 137,249


$7,809,771 693,726


$80,890,798 2011 $81,770


24,611,650 1,246,926


$25,940,346


$37,230,314 497,501


6,201,631


$1,247,000 2,043,183 5,283,063 769,371 510,898


$9,853,515 1,167,491


— TOTAL LIABILITIES & MEMBER EQUITY $80,890,798


7,051,084 388,566 180,947


$7,670,801 819,974


$77,748,440 2010 $82,220


21,866,231 1,571,924


$23,520,375


$30,715,334 572,108


5,601,595


$1,190,000 9,282,127 5,009,830 710,630 515,227


$16,707,814 631,214


— $77,748,440 2011


$77,100,224 15,432,615 $61,667,609 $10,719,692


$209,295 20,914


2010


$74,810,822 14,733,162 $60,077,660 $9,180,005


$29,430 20,774


You get the credit!


Kiamichi Electric retires more than $1 million to members


Electric retires – or pays by cash or credit – more than $1 million to members.


I


When you signed up to receive electric service from Kiamichi Electric you became a member of an electric cooperative. While investor-owned utilities return a portion  electric co-ops operate on an at-cost basis.


So instead of returning leftover funds, known as margins, to stockholders who might not live in the same region or even the same state as you do, Kiamichi Electric allocates and periodically retires capital credits (also called patronage refunds or patronage capital) based on how much electricity you purchased during a year.


This year, members from1987 and 1988 will receive their capital credits retirements as a credit on their October electric bill, or as a check delivered through the mail. The amount  to, and ownership of, the cooperative during those years. While that may seem like a long time ago, those funds have helped Kiamichi Electric reduce the amount of money needed to borrow from outside lenders to build, maintain, and expand a reliable electric distribution system, and cover emergency expenses.


The Kiamichi Electric board of trustees makes a decision on whether to retire capital credits  During some years, the co-op may experience high growth in the number of new accounts, or severe storms may result in the need to spend additional funds to repair lines. These and other events might increase costs and decrease member equity, causing the board not to retire capital credits. For this reason, Kiamichi  


t’s time for you to get the credit —capital credits, that is— for helping build, sustain, and grow your local electric cooperative. This fall Kiamichi


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