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The financial records of Kiwash Electric Cooperative, Inc. were audited at the close of the year ending December 31, 2014, by an independent CPA firm. It was the auditor’s opinion that the financial statements fairly present, in all material respects, the financial position of the cooperative. A condensed financial statement is printed here for your information.


— John Schaufele, Secretary-Treasurer


STATEMENT OF INCOME & EXPENSES For The Years Ending December 31, 2014 & 2013


2014


Operating Revenue Farm and Residential


WHAT WE RECEIVED


Commercial and Industrial Power Cost Adjustment Other Operating Revenue


Total Operating Revenue


Operating Expenses Purchased Power


Operations and Maintenance Consumer Accounts


HOW IT WAS SPENT


Administrative and General Depreciation and General Taxes


Interest Exp Other Deductions Total Operating Expenses WHAT WE HAVE LEFT


Our Margins Operating Margins and Patronage Capital


Non-Operating Margins Net Margins


Where the Dollar Comes From 2%


Farm and Residen0al 36% 62%


Commercial and Industrial


Power Cost Adjustment


Other Opera0ng Revenue


■ Farm and Residential ■ Commercial and Industrial ■ Power Cost Adjustment ■ Other Operating Revenue


75% Taxes


■ Purchased Power ■ Operations and Maintenance ■ Consumer Accounts ■ Administrative and General ■ Depreciation and General ■ Taxes ■ Interest Expense


7%


$7,972,656 13,733,119 (42,744) 297,600


$21,960,631


$16,148,386 1,595,145 575,559 987,566 1,012,598 435,636 848,808 4,920


$21,608,618


$352,013 1,297,644 $1,649,657


2013


$7,069,062 11,766,761 (2,148) 225,463


$19,059,138


$14,020,201 1,546,066 560,515


1,053,464 1,401,820 376,644 757,589 1,059


$19,717,358


$(658,220) 770,107 $111,887


3% 4%


Where the Dollar Goes 5% 2% 4%


6 | KIWASH ELECTRIC COOPERATIVE | 2014 ANNUAL REPORT


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