NLI 2017 Annual Report
PrintStatement Of Revenue & Expenses
| 2017 | 2016 | |
| Operating Revenues and Patronage Capital | $33,761,295 | $30,852,935 |
| Operating Expenses | ||
| Cost of purchased power (1) | 12,948,977 | 11,662,970 |
| Power production expense (1) | 413,413 | 526,930 |
| Transmission-maintenance (2) | 10,023 | 22,294 |
| Distribution-operation (2) | 1,785,336 | 1,994,145 |
| Distribution-maintenance (2) | 5,574,551 | 4,583,089 |
| Consumer accounts (6) | 1,299,380 | 1,245,684 |
| Sales and rebates (6) | 134,455 | 133,828 |
| Administration and general | 3,043,359 | 2,937,283 |
| (4) Depreciation and amortization (3) | 3,401,153 | 3,278,520 |
| Taxes (7) | 787,183 | 709,625 |
| Interest (5) | 1,554,355 | 1,643,730 |
| Other | 40,060 | 25,480 |
| Total operating expense | 30,992,245 | 28,763,578 |
| Net operating margins (8) | 2,769,050 | 2,089,357 |
| Non-Operating Margins | ||
| Interest income | 44,381 | 44,415 |
| Other | 916,322 | 582,984 |
| Total nonoperating margins | 960,703 | 627,399 |
| Net Margins | $3,729,754 | $2,716,756 |
Balance Sheet
Assets and Other Debits
| 2017 | 2016 | |
| Utility Plant At Cost | ||
| Electric plant in service | $134,841,087 | $129,130,224 |
| Construction in progress | 728,622 | 1,783,102 |
| 135,569,709 | 130,913,326 | |
| Less: Accumulated depreciation | 57,683,640 | 55,452,384 |
| Net utility plant | 77,886,069 | 75,460,942 |
| Other Assets And Investments | ||
| Investments in associated organizations | 5,047,278 | 4,882,374 |
| Current Assets | ||
| Cash-general funds | 1,354,683 | 907,315 |
| Accounts receivable | 4,263,910 | 4,573,169 |
| Materials and supplies | 973,161 | 1,081,479 |
| Other current and accrued assets | 71,325 | 72,913 |
| Deferred Charges | 355,822 | 499,270 |
| Total Assets | $89,952,247 | $87,477,462 |
| Equities and Margins | ||
| Memberships | $163,377 | $163,377 |
| Patronage capital | 37,652,213 | 35,992,557 |
| Other equities | 5,718,931 | 2,255,011 |
| 43,534,520 | 38,410,945 | |
| Noncurrent Liabilities | ||
| Postretirement obligation | 3,186,100 | 3,513,000 |
| Cooperative Finance Corp. notes | 33,612,708 | 34,472,148 |
| 36,798,808 | 37,985,148 | |
| Current Liabilities | ||
| Current maturities of long-term debt | 2,484,058 | 2,279,786 |
| Line of credit | 2,500,000 | 3,000,000 |
| Accounts payable | 2,469,848 | 1,638,972 |
| Consumer deposits | 237,962 | 248,256 |
| Other current liabilities | 1,887,766 | 1,795,542 |
| 9,579,634 | 8,962,556 | |
| Deferred Credits | 39,285 | 48,560 |
| Total Liabilities and Equities | $89,952,247 | $85,407,209 |
| 2017 | 2016 |
2017 Directors’ Expenses
| Expenses & Per Diem | Insurance | |
| 1. Mike Dolan Priest Lake, ID (208) 610-3853 |
$4,017 | $27,934 |
| 2. Judith Simonson, Noxon, MT (406) 847-2643 MECA Director |
$2,081 | $27,934 |
| 3. Dr. Steve Elgar Sandpoint, ID (208) 610-2999 |
$1,917 | $27,934 |
| 4. Dave Pemberton Careywood, ID (208) 661-5911 |
$4,526 | $27,934 |
| Kennon McClintock Moyie Springs, ID (208) 267-7604 MECA Director |
$2,863 | $27,934 |
| 6. G.E. Butch Hagen (Former director) Bonners Ferry, ID (208) 267-3514 |
$1,089 | $19,598 |
| 6. Dave Anderson (New Director) Bonners Ferry, ID (208) 610-8021 |
$5,062 | $18,620 |
| 7. James Woodward Sagle, ID (208) 946-796 ICUA Director |
$6,999 | $27,934 |
* Per diem, travel expenses while attending meetings and insurance benefits
| New services connected in 2017 | 370 |
| Total services in place | 20,574 |
| Average services per pile | 7.57 |
Financial information presented herein was compiled from complete financial statements audited by the firm of Moss Adams LLP, Certified Public Accountants, Portland, Oregon, who expressed their unmodified opinion on the fairness of the statements. Copies of the complete statements, together with the auditors’ report, may be examined at the cooperative’s business office.
Judith Simonson
Secretary/Treasurer
