KEC Light Post October 2022

OCTOBER 2022

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2021 Annual Report

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A supplement to the Oklahoma Living magazine

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Energy Efficiency Tip of the Month

Lig ght Post

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Celebrating Membership

Renewables Report

PUBLISHED FOR MEMBERS OF KIAMICHI ELECTRIC COOPERATIVE

BY BRETT ORME

C HI E F E X E C U T I V E O F F I C E R

October is National Co-op Month Fall is a busy time, and October is a particularly eventful month with school, community and sports activities in full swing. It’s also when all cooperatives celebrate National Co-op Month.

When I say KEC celebrates Co-op Month, it really means we are celebrating you! After all, our co-op wouldn’t exist without you, our members.

Our core business purpose is to serve as your electricity provider, but the larger mission of the co-op is to help make our corner of the world a better place. “Concern for community” is one of seven guiding principles that all coops share.

Similar to how our wires run through our service territory, our concern for community f l ow s t h rou g h a l l of ou r decisions––because being a coop means being a responsible partner and good neighbor.

KEC works to help our community thrive through initiatives led by our employees and local board that’s comprised of neighbors who live right here in our community. Because we’re local, we understand our community’s unique needs and strive to help meet them.

We’re proud to support local youth through our Youth Tour and

scholarship programs. With your help, we offer Operation Round Up to provide assistance to our community’s most vulnerable. We also partner with and support area charitable organizations and programming.

The word “cooperative” is close to “cooperation,” meaning people working together towards a common goal—mutually benefitting one another and the larger community. That’s the essence of the cooperative spirit. Our employees and board members are invested in the communities in which they live and serve.

If you haven’t already, I encourage you to log in to the member portal, located on our website at www.kiamichielectric. org, so you can conveniently monitor and manage your energy use. And we’re of course here to help, so give us a call if you have questions about your energy bills.

KEC is continuously examining ways to operate more efficiently while continuing to provide the highest level of friendly, reliable service you expect and deserve. After all, we’re your local co-op. We were built by the members we serve.

KEC works to help our community thrive through initiatives led by our employees and local board that’s comprised of neighbors who live right here in our community.

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KEC 2021 ANNUAL REPORT 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

BALANCE SHEET ASSETS ELECTRIC PLANT 2021

2020

In service Under construction Total electric plant Less accumulated depreciation Electric plant, net Investments in associated organizations

$118,375,344 $1,468,266 $119,843,610 $30,035,434 $89,808,176 $21,028,155

$112,410,275 $2,230,648 $114,640,923 $27,599,595 $87,041,328 $20,292,033

Current Assets Cash and cash equivalents Temporary cash investments Accounts receivable, net Materials and Supplies Prepaid expenses and other Total current assets Deferred debits Total assets

$149,132 $21,925 $5,142,857 $1,465,840 $369,286 $7,149,040 $172,905 $118,158,279

$306,382 $218,385 $4,997,936 $883,140 $352,200 $6,561,496 $321,974 $114,216,831

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.

EQUITIES AND LIABILITIES Equities Memberships Patronage capital Accumulated other comprehensive income Other equities Total equities 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

2021

2020

$85,240 $39,665,877 $1,816,725 $4,057,258 $45,625,100

$83,555 $38,645,274 $1,982,041 $3,900,781 $44,611,651

$3,358,000 $2,128,324

$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

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$3,536,365 $2,540,340 $535,705 $12,098,734 $5,811,161 $118,158,279

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S TAT E M E N T O F O P E R AT I O N S Years ended 2020 and 2021

2021

2020

Operating Revenues

$44,937,156

$39,073,820

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 Total Nonoperating Margin Net Margins for the Year Total comprehensive income

$27,053,438 $1,500,234 $4,999,685 $1,379,227 $236,803 $2,376,539 $3,797,578 $857,964 $1,982,487 $179,170 $44,363,125 $574,031 $1,216,567 $1,790,598 $112,792 $1,903,390 $1,738,074

$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 $162,273 $1,665,336 $2,606,169

Make payments and report outages using our free mobile app

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operation round up

Frozen Peach Pie

M O N T H LY U P D AT E

INGREDIENTS

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 2022: TOTAL DISBURSEMENTS SINCE INCEPTION: TOTAL COLLECTED SINCE INCEPTION:

$38,296.00 $1,700,078 $1,800,358

Energy Efficiency

Tip of the Month With winter weather on the way, now is the time to seal drafty windows. If you can see daylight around a window frame or if you can rattle a window (movement means possible leaks), the window likely needs to be sealed. Most window leaks can be sealed with caulk or weatherstripping, which come in a variety of compounds and materials. Visit energy.gov/energysaver to learn how and where to seal air leaks.

Renewables Report Data collected from Western Farmers Electric Cooperative — KEC’s wholesale power provider — reflects generation during June 2022, which shows 40 percent of the power generated by WFEC came from renewable sources.

• 2 sheets refrigerated pie crust • 2 teaspoons all-purpose flour, or as needed • 2 pounds sliced frozen peaches • ½ cup white sugar • 1 teaspoon lemon juice • ½ teaspoon ground cinnamon

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1/8 teaspoon salt 3 tablespoons cornstarch 1 large egg, beaten 1 tablespoon white sugar 1 tablespoon coarse sparkling sugar

DIRECTIONS Preheat the oven to 400 degrees F (200 degrees C).

Remove plastic packaging from pie crusts and gently unroll one piece on a floured work surface. Dust the dough with flour on both sides. Fit the dough inside a 9-inch pie pan, shaping and gently stretching it to the top edge of the pie pan.

Stir together frozen peach slices, sugar, cornstarch, lemon juice, cinnamon, and salt in a large bowl (see note.)

Pour peach mixture into the unbaked pie crust and gently level out the top of the peaches with the back of a spoon. Peach slices will still be frozen.

Gently unroll the second piece of dough on the floured work surface. Fit the second dough circle on top of the peaches, and allow an even amount to hang over the edge of the pan, all the way around.

Brush the top of the pie with beaten egg, discarding any excess egg. Fold the edges of the top crust under, using the edge of the pan for a guide. Press the top crust and the bottom crust together to form a crimped edge. Lightly cover the crimped edge of the pie with strips of aluminum foil or with pie crust shields, to prevent overbrowning.

Cut several slits in the top crust with a sharp knife. Sprinkle sparkling sugar over the crust.

Place the pie on a baking sheet and bake in the preheated oven until the pie is browned and bubbly, about 1 hour.

Cool on a rack about 30 minutes and serve warm.