NLI 2017 Annual Report

Statement 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

Detailed breakdown of uses of operating revenue

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
Photo of Lake Creek Dam
Most of Northern Lights’ power comes from hydropower, which includes 10 percent from our own Lake Creek Dam in Montana.

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