The Checks are in the Mail! TABLE OF CONTENTS
2
CAPITAL CREDITS
3
BOARD MEMBER ELECTIONS
4-5
ANNUAL MEETING
The general retirement checks to be mailed on June 30th make up 1984, 1985 and a portion of 1986 and 2021. This year the RushShelby Energy Board of Directors approved a general retirement of the most current year and 100% of the two oldest years. The patronage paid for 1986 and 2021 represents a portion of the allocation on file for each member; we will retire the remaining amount in the future. If your patronage refund is under $75.00 it will be applied directly to your account and appear on your June statement. When you signed up for electrical service from RushShelby Energy you not only became a member, but an owner of the electric cooperative. Members who have been on our lines for many years and those who have recently moved onto RSE's electric lines will see the value of being cooperative members.
How Capital Credits Work:
6
FINANCIAL REPORT
Each year, the RSE Board of Directors evaluates the financial condition of the co-op to determine if we can retire capital credits. Capital credits may not be retired every year.
7
QUICK LINKS
8
OFFICIAL MEETING NOTICE
Contact Us: 765-544-2600 Outage Reporting: 800-284-3452
Capital credits are based on the amount of electricity you use, so your allocation will vary each year.
When you move into a home or establish a business in the RSE service territory, you become a member of the cooperative.
A capital credit account is established in your name and RSE uses this to record your investment in the co-op.
Each year, any co-op margins after expenses have been paid are allocated to your capital credit account.
(USPS 171-360 Published Monthly)
Contributors: Cathy Rhoades, Brad Rogers, Jared Seiffert and David Toll Publication Office: 2777 S. 840 W. Manilla, IN 46150 Periodical Postage paid in Indianapolis, Indiana 46206 POSTMASTER: Send address changes to: ELECTRAWATT P.O. Box 55, Manilla, IN 46150
2
www.rse.coop
Frequently Asked Questions: What are capital credits? A cooperative does not earn profits in the sense that other businesses do. Any margins or revenues are allocated to the members in proportion to their usage of the co-op services through capital credits allocations and retirements. Capital credits represent each member's share of the cooperative's margins and co-op ownership. Where does the money come from? Member-owned, not-for-profit electric cooperatives set rates to generate enough money to pay operating costs. We subtract operating expenses from the total funds collected at the end of each calendar year. The difference is the margin, which is returned to the member-owners.
2022
Board Elections Your Vote, Your Voice District 5 Candidates Fred Smith (Incumbent) Wife: Lynne, Children: Andrew, Suzanne, Tiffany, Tara and Daniel
My goal as your board member is to continue working to keep the rates as low as possible while keeping RSE financially sound. Since 2010 we have put 35 million dollars in plant into RSE without adding any more debt to the co-op. I would like to continue the work I have done at being a good steward of the co-ops finances and keeping the budget in check each year. I also would like to ensure the safety and happiness of the good employees we have. As we all know today's markets are volatile and there are going to be new challenges ahead which will take tough decisions to help navigate through the future of this co-op. I would like to continue to help get through those tough times.
Richard Louden
Wife: Paula (Deceased), Children: Robert (Deceased), Jean Roberts and Four Grandchildren
I have been a member of RushShelby Energy since its start and Rush REMC before that since 1980. I have an Associates of Science in Organizational Leadership and Supervision and a Bachelor of Science degree in Engineering Technologies, both from Purdue University. I think that I could be a great help to the board and it's members in lowering our energy bills and increasing our green energy production for our cooperative. In the future, I would like to see us get to the point where none of our members would have to pay an electric bill but might instead get checks from the electric company. Many members could see monthly checks, and all of that after making the RSE company more profitable and stable. I'd like to help educate the membership in energy conservation and help them inexpensively save on heating and cooling costs. Since I am retired, I could visit member's homes and businesses to do energy audits and make recommendations to them for their homes and businesses for no charge in most cases. My children and grandchildren are my biggest motivators for running for the board.
Uncontested, Returning Board Members
Mark Nigh District 2
Dean Bacon District 8
2022 Annual Meeting
Agenda 3:30 - Off-Site Parking at Manilla Volunteer Fire Department 3:45 - Shuttle Bus Service from Parking to RSE Begins 4:00 - Doors Open, Begin Serving Food, Moon Cave Ramblers Begin 4:00-7:00 - Bounce Houses
We are looking forward to this summer's annual meeting, where we will celebrate you, our members, with an evening of food, prizes and entertainment! This year's annual meeting will be Wednesday, July 13th, at our headquarters from 4-8 pm. This year's event is sure to please all ages with our entertainment lineup. We are featuring the bluegrass band Moon Cave Ramblers, two high voltage safety demonstrations and bucket truck rides. To keep the children entertained, we will have bounce houses and two performances from Silly Safaris. As in years past, we will have several booths for you to enjoy. You will be able to learn about Wi-Power, Grassroot Initiatives, Tools of the Trade, Operation RoundUp and more. President and CEO, Chris Chastain, P.E., will address questions and concerns you may have from 5-6:30 pm in the "Ask the CEO" booth.
4
4:30 & 6:00 - Silly Safaris Shows 5:00-6:30 - CEO Booth Open 7:30 - Business Meeting 2022 Directors Announced 7:45 - Grand Prize Drawing
The Band The Moon Cave Ramblers are a bluegrass band from Rush County. Band members are: Dave Clevenger Guitar/Banjo/Vocals Joe Land Mandolin/Vocals Walter McMahan Fiddle/Vocals Monty McMahan Banjo/Guitar/Vocals Brenda McMahan Bass Randy Basom Guitar/Vocals
Parking Parking for the 2022 annual meeting will be located at the Manilla Volunteer Fire Department, west of RushShelby Energy. Please watch for signs along State Road 44. The State Road 44 entrance to the fire department will be blocked. You will turn north on Main Street in Manilla (the street located between the post office and the On the Way Mini-Mart). One block north you will be directed into the fire department parking area. Shuttle buses will run continuously from 3:45 PM until everyone has returned to their vehicles after the meeting. Members bringing someone with disabilities to the meeting may drop them off at the RSE facility, where employees will be able to assist. If changes need to be made, signs will be placed along State Road 44 to direct you toward additional parking.
For The Kids SHOWS: 4:30 & 6:00 BOUNCE HOUSES 4:00 TO 7:00
Voting All members should have received a voting packet in the mail. This packet includes your registration card for the annual meeting, Board of Director candidate biographies and your ballot for the 2022 RushShelby Energy Board of Director Election. Please bring your registration card if you are attending the annual meeting. To vote, you have many options. You can complete the paper ballot from your packet and mail it in using the included envelope. Online voting is available by logging into your SmartHub account or mobile device. You may also choose to vote at the annual meeting. If you have any questions concerning the voting process, please call RushShelby Energy and ask to speak with the Member Services Department.
Grand Prize Traeger Timberline 1300 Wood Pellet Wi-Fi Grill and $250 towards meat at a butcher of your choice. The Traeger Timberline 1300 is the premier outdoor cooking solution and pushes the limits of what's possible in grilling technology.
5
BALANCE SHEET ASSETS
2021
Net Utility Plant
68,851,770
Other Property & Investments
23,488,786
Deferred Debits
586,362
Cash
3,458,138
Accounts Receivable
4,018,909
Materials & Supplies
1,385,754
Prepaid Expenses & Other
(34,449)
Expenses
2021
AS PERCENTAGE OF TOTAL EXPENSE
FACTS & FIGURES - 2% Interest - 4% Depreciation - 8% Taxes
Customer, Administrative, & General Operations & Maintenance Purchased Power
$101,755,270
- 8%
- 12%
- 66%
EQUITIES & LIABILITIES Memberships
76,693
Patronage Capital
43,528,594
Other Equities
4,467,057
Long Term Debt
49,155,342
Current Liabilities
4,451,537
Deferred Credits
76,047 $101,755,270
INCOME STATEMENT OPERATING REVENUE OPERATING EXPENSES
$45,857,728
Purchased Power
29,468,889
Operations & Maintenance
5,051,620
Customer, Administrative & General
3,716,683
Depreciation
3,567,454
Taxes
891,843
Interest
1,861,523
Operating Margin
$1,299,716
Kilowatt Hours Sold
Number of Meters
422,536,526
14,835
Number of Consumers per Mile
Equity
Capital Credits Retired 2021
7.02
47.20%
$1,163,141
System Availablility
Service Miles Driven
New Services
99.95%
399,313
106
Miles of Cut & Trimmed Right-of-Way 293 Miles
NON-OPERATING INCOME Interest Income
79,340
Gain (loss) Disposal of Assets
(125,875)
G.T. Patronage Allocations
1,110,477
Assoc. Organization Patronage Allocations
206,471
Total Margins
$2,570,129
“In our opinion, the financial statements referred to above present fairly, in all material respect, the financial position of RushShelby Energy R.E.C. & Subsidiaries as of December 31, 2021 in accordance with account principles generally accepted in the USA.” London Witte Group, LLC - March 30, 2022
For Every $1.00 Revenue
Quick Links Congratulations, Lance! Lance Sparks, Journeyman Lineman, has reached a milestone in his career. Lance has been with RushShelby Energy for 20 years. RushShelby Energy appreciates your hard work and dedication to our membership.
July Festivals July 1-2 Waldron Will Freedom Festival -Waldron July 2 Thunder Over Patoka French Lick July 1-3 Madison Regatta -Madison July 1-3 Liberty 4th of July Festival -Liberty July 3 Franklin Firecracker Festival -Franklin July 3-4 CarmelFest -Carmel
Welcome, Randi! Randi James was recently hired for the Staff Accountant position at RSE. Randi's job duties will include sharing the department responsibilities and providing support for the daily accounting activities at the cooperative. She will be performing a variety of accounting-related functions that facilitate the preparation of monthly and yearly financial statements. Randi has nearly 20 years of accounting knowledge and experience.
July 15-16 Oldenburg Freudenfest -Oldenburg July 21-23 Quilters Hall of Fame Celebration 2022 -Marion July 29 - August 21 Indiana State Fair -Indianapolis July 30 Pennsy Trail Art Fair & Music Festival -Greenfield
Energy Efficiency Tip If you're looking to add smart technology to your home, consider smart plugs. Smart plugs are inexpensive and can be used to control lighting and other electronic devices through a smart phone app. With smart plugs, you can conveniently manage lighting, home office equipment, video game consoles and more. By powering off unused devices when you're away, you can save energy (and money!). 2022 Festival Guides are available at RSE.
7
PERIODICAL POSTAGE PAID
Dear Member of RushShelby Energy: You are hereby notified that the annual meeting of the members of the RushShelby Energy Rural Electric Cooperative, Incorporated, will be held at RushShelby Energy, 2777 South 840 West, Manilla, Indiana, on Wednesday July 13, 2022. The registration period shall begin when the doors open at 4 pm, EST. You are hereby advised that there are three (3) directors to be elected at the July 13, 2022 annual meeting. The term of each director shall be in accordance with the RushShelby Energy bylaws. Districts open for election are 2, 5 and 8. Candidates to appear on the ballot are: District 2 - Mark Nigh (Incumbent) District 5 - Fred Smith (Incumbent), Richard Louden District 8 - Dean Bacon (Incumbent) Voting at the annual meeting for these candidates will begin at 4 pm and close at 7 pm, with the election results at 7:45 pm. The meeting will provide a "festival" type atmosphere with exhibits, displays, children's activities, entertainment and snacks. Door prize drawings will be held throughout the event, which will conclude at 8 pm. Please make sure to bring your registration card that you received in the mail. All active members on the date of the meeting shall be entitled to register for the meeting. Cooperatively yours, Jill Koch Secretary, Board of Directors