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NLI 2018 Annual Report

Statement Of Revenue & Expenses

 

2018 2017
Operating Revenues and Patronage Capital $34,146,551 $33,761,295
Operating Expenses
Cost of purchased power (1) 13,285,938 12,948,977
Power production expense (1) 373,696 413,413
Transmission-maintenance (2) 11,467 10,023
Distribution-operation (2) 1,964,538 1,785,336
Distribution-maintenance (2) 4,847,483 5,574,551
Consumer accounts (6) 1,369,935 1,299,380
Sales and rebates (6) 232,188 134,455
Administration and general (4) 3,344,006 3,043,359
Depreciation and amortization (3) 3,366,594 3,401,153
Taxes (7) 859,513 787,183
Interest (5) 1,553,024 1,554,355
Other 2,817 40,060
Total operating expense 31,211,199 30,992,245
Net operating margins (8) 2,935,352 2,769,050
Non-Operating Margins
Interest income 44,381 44,381
Other 544,054 916,322
Total non-operating margins 588,435 960,703
Net Margins $3,523,787 $3,729,753

Uses of Operating Revenue

Balance Sheet
Assets and Other Debits

2018 2017 2018 2017
Utility Plant At Cost Equities and Margins
Electric plant in service $136,390,954 $134,841,087 Memberships $163,377 $163,377
Construction in progress 2,839,532 728,622 Patronage capital 38,823,920 37,652,213
139,230,486 135,569,709 Other equities 7,313,230 5,718,931
46,300,527 43,534,521
Less: Accumulated depreciation 58,373,713 57,683,640
Net utility plant 80,856,773 77,886,069 Noncurrent Liabilities
Postretirement obligation 3,097,391 3,186,100
Other Assets And Investments Cooperative Finance Corp. notes 33,584,016 33,612,708
Investments in associated organizations 5,228,639 5,047,278 36,681,407 36,798,808
Current Liabilities
Current Assets Current maturities of long-term debt 2,600,117 2,484,058
Cash-general funds 189,847 1,354,683 Line of credit 2,500,000 2,500,000
Accounts receivable 4,465,841 4,263,910 Accounts payable 2,022,649 2,469,848
Materials and supplies 1,097,655 973,161 Consumer deposits 240,741 237,962
Other current and accrued assets 83,353 71,325 Other current liabilities 1,832,072 1,887,766
9,195,579 9,579,634
Deferred Charges 295,822 355,822 Deferred Credits 40,417 39,285
Total Assets $92,217,930 $89,952,248 Total Liabilities and Equities $92,217,930 $89,952,248

Northern Lights
The Power of Local Service

2018 Director’s Stipend
1. Mike Dolan
Priest Lake, ID (208) 610-3853		 $24,296
2. Judith Simonson
Noxon, MT (406) 847-2643
*Insurance (grandfathered in)		 $28,077*
3. Dr. Steve Elgar
Sandpoint, ID (208) 610-2999		 $28,496
4. Dave Pemberton
Careywood, ID (208) 661-5911		 $24,296
5. Kennon McClintock
Moyie Springs, ID (208) 267-7604		 $24,296
6. Dave Anderson
Bonners Ferry, ID (208) 610-8021		 $24,296
7. James Woodward
Sagle, ID (208) 946-7963		 $24,296

 

New Services
Connected in 2018 367
Total services in place 20,163
Average services per mile 7.31

District map

Lake Creek Dam in Montana.
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