Golden Valley Electric Association

Balance Sheet

(December 31, 2000 and 2001)


 
 
ASSETS
2000
2001
Cash
$10,818,901
$12,208,263
Accounts Receivable
15,296,628
14,736,989
Inventories
13,093,455
13,877,780
Other Current Assets
1,161,793
1,176,694
   Current Assets
$40,370,777
$41,999,726
 
Total Utility Plant
351,947,034
371,791,605
Less Depreciation
-145,905,528
-154,963,406
   Net Utility Plant
$206,041,506
$216,828,199
 
Investments-Fiber Optic
3,520,145
3,439,691
Investments-CFC, ARECA
6,205,309
6,308,250
Restricted Funds
2,138,586
2,148,896
Other Assets
7,363,197
7,361,186
TOTAL ASSETS
  $265,639,520
  $278,085,948
 
LIABILITIES
2000
2001
Current Long Term Debt
$22,224,199
$39,251,425
Accounts Payable
7,657,067
3,119,340
Consumer Deposits
957,922
922,095
Other Current Liabilities
2,576,501
2,692,681
   Current Liabilities
$33,415,689
$45,985,541
 
Long Term Debt
136,453,881
133,233,555
Deferred Credits
2,175,103
1,848,259
Other Liabilities
2,929,005
3,367,544
   Total Liabilities
$174,973,678
$184,434,899
   Margins & Equities
$90,665,842
$93,651,049
TOTAL LIABILITIES & EQUITIES 
$265,639,520
$278,085,948
 
INCOME
2000
2001
Operating
$84,233,353
$89,815,584
TOTAL INCOME
$84,233,353
$89,815,584
 
EXPENSES
2000
2001
Power Cost
$48,222,118
$49,827,473
Operation & Maintenance of
Transmission & Distribution
Facilities
4,544,550
4,292,406
Consumer Costs
4,881,657
4,302,499
General & Administrative
6,547,923
6,225,072
Depreciation
8,374,658
8,590,342
Taxes
526,115
539,017
Interest Expense
8,009,089
8,473,037
TOTAL EXPENSES
$81,106,110
$82,249,846
 
Interest
1,347,341
1,051,116
Non-operating income
965,581
154,869
Other deductions*
-65,348
-2,560,376
 
MARGIN
$5,374,817
$6,211,347
 
* Other deductions for 2001 are primarily composed of Healy Clean Coal Project (HCCP) preliminary costs.