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INDEPENDENT ACCOUNTANTS’ REPORT ON FINANCIAL STATEMENTS


Independent Accountants’ Report on Financial Statements


Board of Trustees Tri-County Electric Cooperative, Inc. Hooker, Oklahoma


Board of Trustees Tri-County Electric Cooperative, Inc. Hooker, Oklahoma


We have audited the accompanying balance sheets of Tri-County Electric Cooperative, Inc. (the Cooperative) as of December 31, 2011 and 2010, and the related statements of margins and patronage capital and cash flows for the years then ended. These financial statements are the responsibility of th Cooperative’s management. Our responsibility is to express an opinion on these financial statements based on our audits.


We have audited the accompanying balance sheets of Tri-County Electric Cooperative, Inc. (the Cooperative) as of December 31, 2011 and 2010, and the related statements of margins and patronage capital and cash flows for the years then ended. These financial statements are the responsibility of the Cooperative’s management. Our responsibility is to express an opinion on these financial statements based on our audits.


Board of Trustees Tri-County Electric Cooperative, Inc. Hooker, Oklahoma


We conducted our audits in accordance with auditing standards generally accepted in the United State America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit includes assessing the accounting principles used and significant estimates made by management, as w as evaluating the overall financial statement presentation. We believe that our audits provide a reason basis for our opinion.


We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain resonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.


Independent Accountants’ Report on Financial Statements


We have audited the accompanying balance sheets of Tri-County Electric Cooperative, Inc. (the Cooperative) as of December 31, 2011 and 2010, and the related statements of margins and patronage capital and cash flows for the years then ended. These financial statements are the responsibility of the Cooperative’s management. Our responsibility is to express an opinion on these financial statements based on our audits.


We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.


February 17, 2012 February 17, 2012


In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Tri-County Electric Cooperative, Inc., as of December 31, 2011 and 2010, and the results of its operations and cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.


In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Tri-County Electric Cooperative, Inc., as of December 31, 2011 and 2010, and th results of its operations and cash flows for the years then ended in conformity with accounting princip generally accepted in the United States of America.


In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Tri-County Electric Cooperative, Inc., as of December 31, 2011 and 2010, and the results of its operations and cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.


February 17, 2012


2011 ANNUAL REPORT | 3


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