Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC SALES

  total $9,126,666 · related or exempt $9,126,666

• 2b · Program service revenue: WATER SALES

  total $5,933,464 · related or exempt $5,933,464

• 2c · Program service revenue: OTHER SERVICE REVENUE

  total $529,167 · related or exempt $529,167

• 3 · Investment income

  total $76,511 · excluded $76,511

• 6a · Gross rents

  real property $47,347

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $47,347

• 6d · Net rental income or loss

  total $47,347 · excluded $47,347

• 7a · Gross sales of assets other than inventory

  other assets $6,000

• 7b · Less cost or other basis and sales expenses

  other assets $0

• 7c · Gain or loss

  other assets $6,000

• 7d · Net gain or loss

  total $6,000 · excluded $6,000

• 11a · Other revenue: OTHER

  total $3,262 · excluded $3,262

• 11e · Other revenue, total

  $3,262

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $7,100

• 5 · Compensation of officers, directors and key employees

  total $635,776

• 7 · Other salaries and wages

  total $711,949

• 8 · Pension plan contributions

  total $690,490

• 9 · Other employee benefits

  total $726,906

• 10 · Payroll taxes

  total $273,706

• 11g · Fees: other

  total $137,433

• 13 · Office expenses

  total $12,217

• 17 · Travel

  total $154,044

• 19 · Conferences, conventions and meetings

  total $152,817

• 22 · Depreciation, depletion and amortization

  total $1,459,006

• 23 · Insurance

  total $86,496

• 24a · Other expenses: PURCHASED POWER

  total $4,864,201

• 24b · Other expenses: DISTRIBUTION SYSTEMS

  total $1,172,907

• 24c · Other expenses: BUSINESS AND PROPERTY T

  total $701,706

• 24d · Other expenses: CUSTOMER RECORDS AND CO

  total $676,316

• 24e · All other expenses

  total $138,202

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,000 · end of year $1,000

• 2 · Savings and temporary cash investments

  beginning of year $15,298,028 · end of year $14,939,206

• 4 · Accounts receivable

  beginning of year $2,461,475 · end of year $2,078,018

• 8 · Inventories for sale or use

  beginning of year $724,816 · end of year $1,261,680

• 9 · Prepaid expenses and deferred charges

  beginning of year $74,105 · end of year $67,393

• 10a · Land, buildings and equipment: cost or other basis

  $54,054,327

• 10b · Land, buildings and equipment: accumulated depreciation

  $27,334,033

• 10c · Land, buildings and equipment, net

  beginning of year $23,225,646 · end of year $26,720,294

• 12 · Investments: other securities

  beginning of year $204,534 · end of year $191,460

• 15 · Other assets

  beginning of year $720,150 · end of year $461,223

• 17 · Accounts payable and accrued expenses

  beginning of year $1,848,585 · end of year $1,633,460

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $5,555,396 · end of year $5,659,896

• 31 · Retained earnings, endowment or other funds

  beginning of year $35,305,773 · end of year $38,426,918

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II (C)

THE COMPANY PARTICIPATES IN THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (NRECA) RETIREMENT SECURITY PLAN (RS PLAN), A DEFINED BENEFIT PENSION PLAN QUALIFIED UNDER SECTION 401 AND TAX-EXEMPT UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE PLAN IS FULLY FUNDED AND VESTING IS 10% PER YEAR FOR FIRST 4 YEARS, WITH 100% VESTING AT BEGINNING OF 5TH YEAR OR AGE 55, WHICHEVER COMES FIRST. BENEFITS FROM EMPLOYEE CONTRIBUTIONS ARE FULLY VESTED. THE AMOUNTS REPORTED ARE DEFERRED COMPENSATION BENEFITS EARNED, BUT NOT PAID.