The Secretary/Treasurer


As Secretary-Treasurer of your Board of Trustees it is my pleasure to present the annual statement on behalf of your Board of Trustees. We urge each of you to study the reports and statements contained in this notice and take a genuine interest in the business of the organization of which you are a member. The records of the Association have been modifi ed as of December 31, 2016 by


Jim Reeves SECRETARY-TREASURER


Bolinger, Segars, Gilbert & Moss, Certifi ed Public Accountants of Lubbock, Texas. Make it a point to be at your annual membership meeting in Hollis, Oklahoma, Friday, April 7, 2017.


STATEMENT OF CONDITIONS Statement of Revenue and Expenses (Electric)


INCOME: Sale of Electricity: .................................................... $ 8,692,038 Interest Income .................................................................16,191 Assoc. Organizations Capital Credits ..........................447,695 Other Operating & Nonoperating Revenue..................97,130 TOTAL INCOME .............................................$ 9,253,054


EXPENSES: Cost of Purchased Power ........................................ $ 4,028,538 Operations, Maintenance & Taxes ........................... 2,447,982 Depreciation ................................................................ 1,644,090 Interest .............................................................................861,504 Other Deductions .............................................................18,470 TOTAL EXPENSES: ..........................................$9,000,584 Margins: ............................................................... $ 252,470


Statement of Revenue and Expenses (Water)


INCOME: Sales Income ...................................................................$ 94,092 Interest Income ........................................................................47 Total Income ..........................................................$ 94,139


EXPENSES: Cost of Water .................................................................$ 27,151 Operations & Maintenance .............................................45,208 Depreciation ........................................................................7,411 Interest .................................................................................6,315 Total Expenses: ......................................................$ 86,085 Margins: .................................................................$ 8,054


Balance Sheet as of December 31, 2016


ASSETS: Total Plant ........................................................$ 34,614,192 Less: Accum, Provision for Depreciation .............7,167,081 Net Value of Plant ............................................... 27,447,111 Investments in Associated Organizations .............3,616,360 Cash..........................................................................195,910 Temporary Cash Investments .....................................40,802 Accounts and Notes Receivable ............................4,771,612 Materials and Supplies .............................................277,184 Other Current and Accrued Assets ............................ 14,880 Deferred Charges ..................................................7,103,317 TOTAL ASSETS ............................................$ 43,467,176


LIABILITIES & EQUITIES: Memberships ....................................................................$ 7,950 Patronage Capital ....................................................... 6,338,576 Other Equities .................................................................971,164 Long-Term Debt ....................................................... 28,541,943 Accounts Payable ........................................................ 4,830,430 Consumer Deposits and Prepayments ........................113,290 Current and Accrued Liabilities .....................................75,261 Deferred Credits ......................................................... 2,588,562


TOTAL LIABILITIES AND MEMBER EQUITY ........................................$ 43,467,176


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