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Statement of Operations Year ending June 30 2013


Revenue Total Electric Revenue


Non-Operating & Interest Revenue Total


Expenses Purchased Power


Operation & Maintenance Expense Consumer Accounts


Customer Service & Information Administrative & General Depreciation Taxes


Interest-Long Term Debt Total


G&T Capital Credits


Other Patronage Capital Credits Margins & Patronage Capital


43,141,257 4,778,071 1,373,739 284,286 1,382,655 2,969,656 1,199,028 2,297,585 57,426,277


1,098,519 133,465


$2,822,660


43,134,874 4,441,092 1,402,681 290,724 1,501,395 3,069,896 1,191,595 2,206,071 57,238,328


1,351,248 144,272


$3,733,765 Total Robert Schoenecke Secretary-Treasurer $94,250,612


In compliance with the By-laws of Canadian Valley Electric Cooperative, Inc., the financial records were audited by the independent certified firm of Finley & Cook, PLLC, Certified Public Accountants, Shawnee, for the year ending June 30, 2013. Your Board of Trustees closely monitors the income and expenses of your cooperative, paying close attention to the level of margins and equity reflected by financial statements. I herby submit the Statement of Operations and Balance Sheet for the fiscal year of July 1, 2012 to June 30, 2013.


Annual Meeting Health Fair


10 a.m. - 1 p.m. Bedlam Blood Drive


by Oklahoma Blood Institute Ear & hearing screening


by Hearing Health Center


Complimentary muscle relaxation by Joe Wojciechowski


of Lifeback Chiropractic of Shawnee & Prague


Blood sugar testing Cholesterol testing


by St. Anthony Health Center President's Message...


higher prices. We are not critical of either solar or wind energy and hope that more of this friendly energy capacity will continue to be developed as a part of meeting the electri- cal needs of all Oklahomans and others. But wind does not provide the capacity whenever required and on a commercial scale, solar still costs significantly more. The problem is that wind energy is only available when the wind blows and solar when the sun shines. In our climate the most generating capacity is needed on the third day of 100 degree plus temperatures and most often the wind is not


blowing. We are in support of the continued development of both solar and wind as an electric energy source. Today storage is the issue. Hopefully a way to commercially store the wind and solar generated electricity will be developed at a price our customers will be able to afford to pay. That is not the case today, but a hope for the future. Canadian Valley Electric Cooperative continues to be a strong electric distribution power and energy provider electric service to a large area of east central Oklahoma stretch- ing from Oklahoma City to Lake Eufaula. We continue a very aggressive right-of-way


2nd floor, Shawnee Expo Center Visual acuity check


General vision health check Cleaning, adjusting, & repairing glasses by


Drs. Kirk Hoster & Jordan Ewert Vital signs


Blood pressure Pulse oximetry readings by Prague Municipal Hospital


maintenance program, a scheduled pole inspection and replacement plan and the timely rebuilding of power lines where the electric load requires. The result of the past year’s operation on which we are reporting to you at this year’s annual meeting contin- ues to be very positive for the Cooperative. The portion of our rates that go to pay the expenses of building lines and operating the electric system of the Cooperative has not changed since 2009. Our current rates are based on our operating expenses as they were in 2008. We may at some point in 2014 have to make some adjustment to our rates, but that decision has not yet been considered and may, with some growth and good fortune in the coming year, be avoided. If it does become necessary, the rate adjustment should be less than 3 percent. However it is the cost of the wholesale electric energy itself which makes up between 70 and 80 percent of our electric bills to our members. The impact of the issues commented on above, over which the electric utility industry has little or no control, will have much more to do with what may happen in the future as to the impact on the cost of providing the electricity and on the total of each of our monthly electric bills. Canadian Valley Electric Coopera- tive continues to be strong financially. Our lenders, the Rural Utilities Service (RUS),


Continued on page 4. 2012


$59,160,894 -143,941 59,016,953


2013


$58,457,883 1,018,690 59,476,573


Assets


Electric plant in service, less accumulated Depreciation of $38,598,199 Other property & Investments Cash & Cash Investments Consumer & Accounts Receivable Net Materials & Supplies Other Assets


Total Liabilities:


Membership Patronage Capital & Other Equities Long-Term Debt to RUS, CFC & CoBank Current Maturities to RUS, CFC, & CoBank Other Non-Current Liabilities Accounts Payable Consumer Deposits Other Current Liabilities


44,835,358 33,787,211 2,458,253 4,481,700 5,828,597 1,260,002 1,599,491


$63,975,828 18,804,423 3,652,211 6,372,709 1,332,434 113,007


$94,250,612


The ElectraLite


Balance Sheet June 30 2013


September 2013


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