Tillamook PUD Annual Report






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Annual Report - Financial Statements



Year End 2012 Independent Auditor's Report (PDF)

2012 Sales of Electricity
Avg. Cents
Customer Class Accounts   kWh Sold     $ Revenue   per kWh
Regular Residential 11,841 178,085,198 $14,404,532 8.09
Seasonal Residential 6,592 50,979,815 4,765,228 9.35
Small Commercial 2,077 81,038,985 5,914,958 7.30
Large Commercial 70 37,027,280 2,232,452 6.03
Industrial 14 108,791,337 5,273,159 4.85
Lighting & Other 4,845,026 387,566
   Total 20,594 460,767,641 32,977,895 7.16

2012 Expenses (%)
Power Supply Expense 49.7%
Operating Expense 38.0%
Depreciation 7.8%
Taxes 2.4%
Interest on LT Debt 2.2%
100.0%

2012 Sales of Electricity (%)
Regular Residential 43.7%
Seasonal Residential 14.4%
Small Commercial 17.9%
Large Commercial 6.8%
Industrial 16.0%
Lighting & Other 1.2%
100.0%

Operating Statement
2012 2011
Revenues:
Sales of Electricity  $     32,977,896  $     32,502,101
Other Sales Revenue             341,799             341,707
Interest & Other Income             261,315               61,328
Total Revenues         33,581,010         32,905,136
Expenses:
Power Supply Expense         16,551,235         14,938,953
Operating Expense         12,675,603         11,540,999
Depreciation          2,586,228          2,497,584
Taxes             788,310             776,314
Interest on Long-Term Debt             725,166             619,584
Total Expenses         33,326,542         30,373,434
Net Margins  $         254,468  $       2,531,702

Balance Sheet
2012 2011
Assets:
Net Utility Plant  $     64,907,904  $     63,202,259
Reserve Funds          5,956,283          6,056,283
Current Assets          9,267,420         11,694,331
Other Assets          1,189,445          1,271,293
Total Assets  $     81,321,052  $     82,224,166
Liabilities & Net Assets:
Long-Term Debt  $     27,484,645  $     28,742,381
Other Liabilities          5,989,240          5,889,086
Total Liabilities         33,473,885         34,631,467
Restricted Net Assets          6,595,205          6,679,148
Unrestricted Net Assets         41,251,962         40,913,551
Total Liabilities & Net Assets  $     81,321,052  $     82,224,166