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Consolidated Financial Statements 2011 Financial Statements


OEC’s performance was strong for 2011 despite the economy and rising concerns about regulation raising prices. Te cooperative retains compliance in accordance with its lender, the National Rural Utilities Cooperative Finance Corporation. OEC reports patronage capital, or margins, of $4,842,441 for the year.


Tese summarized financial statements for 2011


are based on an audit prepared by the certified public accounting firm of BKD, LLP. A full copy of the audit is available for review by members at OEC’s corporate headquarters in Norman.


Operating Revenue $113,244,974


Expenses Purchased Power Distribution Expense Consumer Accounts Expense Customer Service Expense Sales Expense Administrative & General Expense


Depreciation Expense Tax Expense–Other Interest on Long Term Debt Interest Expense–Other Other Deductions


Cost of Electric Service Operating Patronage Capital Non-Operating Margins Interest Income (Loss) from Equity Investments


Non-Operating Margins–Other Generation & Transmission Capital Credits


Other Capital Credits Total Patronage Capital


8 


2011 2010 $106,882,467


69,526,954 13,245,625 3,966,694 1,192,081 270,786


3,494,898 7,682,193 3,349,213 8,072,001 (154,624) 16,968


110,662,789 2,582,185 307,290


0 (503,685)


1,731,573 725,078


64,721,407 13,323,286 3,707,055 1,121,500 277,839


2,726,791 7,309,243 3,216,408 7,517,436


(148,295) 21,366


103,794,036 3,088,431 309,439


0 (328,952)


4,026,747 795,615


$4,842,441 $7,891,280 Assets & Other Debits


Total Utility Plant in Service Construction Work in Progress Total Utility Plant Acc. Prov. for Depreciation Net Utility Plant


Invest. Assc. Patronage Capital Invest. Assc. Other–General Funds Invest. Assc. Other–NonGeneral Funds Other Investments Special Funds Total Other Property & Investments


Cash–General Funds Special Deposits Temporary Investments Notes Receivable Accounts Receivable Accounts Receivable–Other Material & Supplies Prepayments Other Current & Accrued Assets Total Current & Accrued Assets


Deferred Debits Total Assets & Other DR


Memberships Patronage Capital Non-Operating Margins–Current Year Non-Operating Margins Other Margins & Equities Total Margins & Equities


Long-Term Debt, CFC Total Long-Term Debt


Other Noncurrent Liabilities


Notes Payable Accounts Payable Consumer Deposits Other Current & Accrued Liabilities Total Current & Accrued Liabilities


Deferred Credits Total Liabilities & Other CR


$214,012,664 16,755,341


230,768,005 65,830,472 164,937,533


28,755,224 0


6,323,805 0


222,081 35,301,110


2,327,616 5


1,080,000 0


10,619,816 988,556 394,886 465,059 73,628


15,949,566 14,470,735


Liabilities & Other Credits $192,250


62,312,100 5,038,836 (196,395) 4,469,634 71,816,425


133,884,072 133,884,072


9,554,294 585,019


9,733,392 1,583,721 2,116,810


14,018,942 $187,615


58,514,457 7,910,792 (19,512)


3,182,706 69,776,058


120,460,058 120,460,058


7,160,010


2,000,000 12,169,552 1,729,758 2,059,060


17,958,370


1,385,211 2,002,880 $230,658,944 $217,357,376


$206,358,287 12,424,697 218,782,984


(61,848,675) 156,934,309


26,652,698 0


6,369,375 0


210,000 33,232,073


1,158,509 5


1,849,905 0


10,282,598 2,044,787 291,792


444,485 73,628


16,145,709 11,045,285


$230,658,944 $217,357,376


2011 2010


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