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SEPTEMBER - OCTOBER 2012


BALANCE SHEET ASSETS


For the years ended June 30, 2012 and 2011 2012


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:


2012-$123,000; 2011 -$97,916


Materials and supplies, at average cost Other current assets


T


otal Current Assets: Deferred charges


TOTAL CURRENT ASSETS LIABILITIES & MEMBER EQUITY


EQUITIES AND MARGINS Memberships


Patronage capital Accumulated OCI Other equities


T otal 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 T


otal Current Liabilities Deferred credits


Contingent liabilities


6,996,083 479,360 195,137


$8,007,305 575,139


7,114,444 327,869 137,249


$7,809,771 693,726


$84,218,863 $80,890,798 Building woes affect co-op 2012 $81,575


26,081,170 (857,667) 1,561,735


$26,866,813


$35,317,256 422,893


7,299,870


$1,617,000 4,575,480 5,715,520 807,627 454,840


$13,170,467 1,141,564


— TOTAL LIABILITIES & MEMBER EQUITY $84,218,863 2011 $81,770


24,611,650 (13,015)


1,259,940 $25,940,345


$37,230,314 497,501


6,201,631


$1,247,000 2,043,183 5,283,063 769,372 510,898


$9,853,516 1,167,491


— $80,890,798


Aging infrastructure, limited space and over four decades of wear and tear are beginning to take their toll on Kiamichi Electric Cooperative.


 building was a state-of-the-art facility at that time; however, rapid advancements in technology coupled with system expansion and employee growth are stressing the building’s capacity.


 storage for advanced technical  space for new hires have prompted the co-op to hire an architectural 


According to Jim Jackson, CEO of Kiamichi Electric, the architects will inspect the building and its infrastructure, and review co-op growth patterns and technology needs. Once their assessment is complete, they will  Electric board of trustees, along with recommendations and possible solutions.


$80,478,271 16,366,478 $64,111,793 $11,524,626


$315,705 21,020


2011


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


$209,295 20,914


A FEW THINGS YOU SHOULD KNOW ABOUT


Attending the Annual Meeting? 


If you plan to attend the Kiamichi Electric Annual Meeting on October 6, be sure to  with you.


Members are asked to present the notice at the registration desk. Having it available speeds the registration process and makes sure you are eligible for all of the valuable prizes.


Meeting notices were mailed to co-op members in September.


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