OCTOBER 2021
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WFEC Renewables Report
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Operation Round Up report
A supplement to the Oklahoma Living
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Energy Efficiency Tip of the Month
PUBLISHED FOR MEMBERS OF KIAMICHI ELECTRIC COOPERATIVE
Monthly CEO report with Brett Orme ACE Hardware, State Farm, REI, Land O’Lakes and Kiamichi Electric Cooperative all share something in common: we’re all cooperatives. We may be in different industries, but we all share a passion for serving our members and helping our communities to thrive. In fact, all cooperatives adhere to the same set of seven principles that reflect our core values of honesty, transparency, equity, inclusiveness and service to the greater community good. October is National Co-op Month, so this is the perfect time to reflect on these principles that have stood the test of time but also provide a framework for the future. Let’s take a look at the first three cooperative principles. VOLUNTARY AND OPEN MEMBERSHIP Just like all co-ops, KEC was created out of necessity––to meet a need that would have been otherwise unmet in our community. So in 1945, a group of neighbors banded together and organized our electric co-op so everyone in our community could benefit. For a modest membership fee to the co-op, any farmer could get electricity brought to his farm. Neighbors came together to tackle a problem that they all had but couldn’t solve alone. They worked together for the benefit of the whole community, and the newly established electric lines helped power
economic opportunity in our community. While this history may be forgotten, key parts of that heritage remain––the focus on our mission and serving the greater good. In this, we include everyone to improve the quality of life and economic opportunity for the entire community. Membership is open to everyone in our service territory, regardless of race, religion, age, disability, gender identity, language, political perspective or socioeconomic status. DEMOCRATIC MEMBER CONTROL Our co-op is well suited to meet the needs of our members because we are locally governed. Each member gets a voice and a vote in how the co-op is run, and each voice and vote are equal. KEC’s leadership team and employees live right here in the community. Our board of directors, who helps set long-term priorities for the co-op, also live locally on co-op lines. These board members have been elected by neighbors just like you. We know our members have a valuable perspective, and that’s why we are continually seeking your input and encourage you to weigh in on important coop issues and participate in co-op elections. Our close connection to this community ensures we get a first-hand perspective on members’ priorities, thereby enabling us to make more informed decisions on
long-term investments, such as equipment and technology upgrades, electric vehicle programs, etc. MEMBERS’ ECONOMIC PARTICIPATION As a utility, our mission is to provide safe, reliable and affordable energy to our members. But as a co-op, we are also motivated by service to the community, rather than profits. Members contribute equitably to, and democratically control, the capital of KEC. At least part of that capital remains the common property of the cooperative. Members allocate surpluses for co-op programs, initiatives, capital investments and supporting other activities approved by the membership. Because we are guided by seven cooperative principles, it’s not just about dollars––it’s about opportunity for all and being fair when engaging with our members. The cooperative way is a values-based business model. KEC is a reflection of our local community and its evolving needs. We view our role as a catalyst for good and making our corner of the world a better place. And by the way, that sums up the seventh co-op principle, “concern for community,” which I’ll elaborate on next month.
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KEC 2020 ANNUAL REPORT ASSETS Kiamichi Electric Cooperative 944 SW Highway 2 PO Box 340 Wilburton, Oklahoma 74578 tele: (918) 465-2338 toll free: (800) 888-2731 FAX: (918) 465-2950 www.kiamichielectric.org email: support@kiamichielectric.org HOURS OF OPERATION Monday-Friday 8 am to 5 pm 24-HOUR OUTAGE HOTLINE (800) 888-2731 BOARD OF TRUSTEES Mark Ichord, President DISTRICT 6 Ron Pelaconi, Vice President DISTRICT 3 Russell Shaw, Treasurer DISTRICT 1 Amy Miller DISTRICT 2 David Ray DISTRICT 4 Don Parr DISTRICT 5 Larry Culwell DISTRICT 7 Brett Orme Executive Vice President-CEO Kiamichi Electric provides reliable and affordable electricity to members in Pushmataha, Leflore, Latimer, Atoka and Pittsburg Counties.
ELECTRIC PLANT
2020
2019
In service Under construction Total electric plant Less accumulated depreciation Electric plant, net Investments in associated organizations
$112,410,275 $2,230,648 $114,640,923 $27,599,595 $87,041,328 $20,292,033
109,470,339 1,521,341 110,991,680 25,644,992 85,346,688 19,751,967
Current Assets Cash and cash equivalents Accounts receivable, net of allowance for uncollectible accounts Materials and supplies Prepaid expenses and other Total current assets Deferred debits Total assets
$306,382 $4,997,936 $883,140 $352,200 $6,561,496 $321,974 $114,216,831
114,420 4,901,714 710,328 430,690 6,178,857 486,146 $ 111,763,658
Equities Memberships Patronage capital Accumulated other comprehensive income Other equities Total equities
$83,555 $38,645,274 $1,982,041 $3,900,781 $44,611,651
$ 82,010 37,990,517 1,041,208 3,684,207 42,797,942
Noncurrent liabilities Long-term debt, less current maturities Other liabilities Total noncurrent liabilities
$44,214,229 $5,780,518 $49,994,747
47,275,303 6,669,871 53,945,174
$3,058,000 $5,116,581 $1,100,000 $226,823 $3,169,369 $1,968,464 $541,491 $15,180,728 $4,429,705 $114,216,831
2,933,435 3,553,434
BALANCE SHEETS EQUITIES AND LIABILITIES
Current Liabilities Current maturities of long-term debt Lines-of-credit Payment Protection Program note payable Checks written in excess of bank balance Accounts payable Customer deposits Other accrued liabilities Total current liabilities Deferred Credits Total equities and liabilities
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648,279 2,735,060 1,729,568 551,221 12,150,997 2,869,545 $ 111,763,658
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Renewables Report
S TAT E M E N T O F O P E R AT I O N S Years ended 2019 and 2020
2020
2019
Operating Revenues
$39,073,820
$ 40,443,428
Operating Expenses Cost of power Distribution - operations Distribution - maintenance Customer accounts Customer service Administrative and general Depreciation Taxes—gross receipts and other Interest on long-term debt Interest on line-of-credit and other deductions Total operating expenses Operating Margin Before Capital Credits Generation and Transmission and Other Cooperative Capital Credits Net Operating Margin Nonoperating Margin Interest and dividend income Other nonoperating income Total nonoperating margin
$23,363,414 $1,335,039 $3,495,689 $1,382,740 $265,544 $2,195,603 $3,722,076 $781,242 $2,116,068 $106,881 $38,764,296 $309,524 $1,193,539 $1,503,063 $30,952
23,802,838 1,416,474 3,999,622 1,330,788 275,575 2,441,927 3,633,250 789,768 2,238,559 66,419 39,995,220 448,208 1,118,357 1,566,565 31,014
$131,321 $162,273
60,824 91,838
Net Margin
$1,665,336
1,658,403
36% Renewables Data collected from Western Farmers Electric Cooperative — KEC’s wholesale power provider — reflects generation during June 2021, which shows 36 percent of the power generated by WFEC came from renewable sources.
Meet KEC’s newest employees and those celebrating 20 years of co-op service!
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operation round up M O N T H LY U P D AT E Operation Round Up® is a voluntary bill roundup program that benefits local communities, organizations ,and needy families. Funding applications are available at Kiamichi Electric, local social services, or online at www.kiamichielectric.org. YEAR-TO-DATE COLLECTIONS 2021: $26,515.55 YEAR-TO-DATE DISBURSEMENTS: $14,630.79 TOTAL COLLECTED SINCE INCEPTION: $1,711,463.93 TOTAL DISBURSEMENTS SINCE INCEPTION: $1,637,867.81
RECIPE
Easy Mexican Casserole INGREDIENTS 1 pound lean ground beef 2 cups salsa 1 (16 ounce) can chili beans, drained 3 cups tortilla chips, crushed 2 cups sour cream
1 (2 ounce) can sliced black olives, drained ½ cup chopped green onion ½ cup chopped fresh tomato 2 cups shredded Cheddar cheese
DIRECTIONS
Energy Efficiency
Preheat oven to 350 degrees F. In a large skillet over medium-high heat, cook ground beef until no longer pink. Stir in salsa, reduce heat, and simmer 20 minutes, or until liquid is absorbed. Stir in beans, and heat through. Spray a 9x13 baking dish with cooking spray. Spread crushed tortilla chips in dish, and then spoon beef mixture over chips. Spread sour cream over beef, and sprinkle olives, green onion, and tomato over the sour cream. Top with Cheddar cheese. Bake in preheated oven for 30 minutes, or until hot and bubbly.
Energy used for cooling and heating your home makes up the largest portion of your monthly energy bills. By combining regular equipment maintenance and upgrades with recommended insulation, air sealing and thermostat settings, you can save about 30% on your energy bills while helping our environment.
Recipe from AllRecipes.com
Tip of the Month
Source: Energy.gov