ML20076N311

Soyland Power Cooperative,Inc 1990 Annual Rept

ML20076N311
Person / Time
Site:	Clinton
Issue date:	12/31/1990
From:	SOYLAND POWER COOPERATIVE, INC.
To:
Shared Package
ML20073G666	List: ML20073G897 ML20076N311 U-601835, Forwards 1990 Annual Repts
References
NUDOCS 9105060075
Download: ML20076N311 (40)

Text

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S'OTLAND POWER COOPERATIVE, IN C o 1990 Annual Report mpg q,

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INTRODUCTION 0

Soyland power Cooperative is a member owned, not for profit electric generation and transtnission cooperative which supphes wholesale electrkity to 21 member distribu-tion e(KyWratlves. These distribution cooperatives provide retail electric service to approxtinately one half million persons within their local service territories. Soyland is one of more than 60 gencrutton and transmission (G&Tl cooperatives that supply wholesak electric power to rural utilities in the United States.

Soyland was organtred by six distribution cooperatives in September 1963, under the General Not For Profit Corporation Act of the State of Illinois. Leaders of those cononon Purpmc cooperatives saw Soyland as a way to gain energy independence and control over electric power costs. In 1975, nine additional cooperatives joined the original six (two have since merged), and plans were launched to develop a rellable and economical power supply system Western Illinois power Cooperative, with seven member distribution cooperative systems, merged into Soyland in March 1989, to form the cooperative federation it.tt today supplies the electric power needs of nearly two thirds of the land mass of the State of Illinois.

Applied Energy Systems, Inc., the parent company of WaterFurnace of Illinois, Inc.,

is a wholly owned for proftt subsidiary of Soyland Power Cooperative Wateri'urnace of Illinois is marketing geothermal heat pumps throughout the 21 inember cooperative service areas. This year Appiled Energy executed a distributor agreement with Steffes ETS, Inc., a leading manufacturer of electric thermal storage heaters Applied Energy Systems is pursuing other opportunities to assist Soyland's inembers to meet the needs of the consurners they serve.

Soyland and its 21 member distribution cooperatives are continuing to pursue opportuuttles to make rural Illinois a better place in which to live. We remain cotumit-ted to enhancing economie development opportunttles to attract businesses to rural service areas to. In turn, provide jobs for rural consumers.

Since its inception in 1963 Soyland's goal has been to provide a dependable source of wholesale electric power to its members at the lowest possible cost, Today, through its unique blend of fuels and generating plants. Soyland has built a stable base from which to meet the cicetric energy requirements of its member systems.

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MANAGEMENT R E P O ll T O

Diversity with a com.

conununities Economic consider, and they share mon purpose. Soyland is development can bring the benefits too. nainely, a combination of 21 jobs. people, ar.d new they build a stronger member cooperatives, energy to a community, customer base and each having a diverse and hut ceonomie develop-positively influence unique operation, yet all ment projects will fall if economic growth. That having a common tie that local people are not ready means additional jobs, binds. We are all in the for change, or cannot heightened consumer business of providing manage the changes that demand, stronger public reliable electric power to aheet a community's funds through an our members at the social. politleal, and increased tax base and a lowest possible cost.

economic fabric.

more diverse economy.

However, we don't just In Fehniary 1991.

stop at providing electric RURAL PARTNERS Rural Dond Bank service. Soyland and its announced the selecuan member cooperatives are of six counties which will b.oyland acuvely sup-committed to improving participate in a three year pods du neu# neated the quality of IIIe for the program to develop com, hunots Rural Bond llank.

people we serve in rural munities through local

.l'he Illinois Rural Bond America. We care about volunteer efforts. Five of Johs for rural people: we the six counties are in the Bank luips Onang intm-structure projects for local care about health care for Soyland service area and govunments in 96 rural rural people; we care have local cooperative U U ""I" "* " UCN-,U "'

about !mproving the involvement an1 support.

Hom! Dank was organtzed infrastructure of com-Each of these counties munttles in rural areas:

have idenufted four to six to asW local govan; ments in borrowing lunds we care about the health county coordinators who at n asonable interest of our rural economy.

wtil participate over the

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And our cooperatives are next 30 months in a unaHn mwns and coun-tuned into the needs of series of self help learning un wen tufnquent the rural people we serve.

programs developed by issuers f bonds and were Our member coopera-universities throughout not known to the bond-tive employees know the the state.

buying marketplace. As a heartbeat of the com-resuh many opportunttles munttles they serve and mmun to make intrastructure our cooperatives are will-Developmen t improvements in small ing to get involved and Corpora tions and rural communities help people.

were missed. By pooling Soyland has also joined the needs of these smaller Rural Partners forces with community units of local government, banks in three areas of the Bond llank can offer Soyland took a leader, the state to help promote the same credit advan.

ship role in creating and economic development tages enjoyed by larger organizing RUllAL PART-with emphasis on projects cities.

NERS, the Illinois coall-to create jobs and By serving as a Com-tion for rural community stimulate local business missioner on the Illinois development, and has growth. Soyland's leader-Rural Hand Hank, by continued to foster its ship role in the Bank chairing the Illinois Food growth. Soyland is part of Community Development processing Task Force, by the three year program Corporations (CDC's) once participating in the entitled. "llelping Hural again demonstrates our Illinois State Chamber's Communttles Prepare for commitment to the health Task Force on Economic Economic Development /

of our rural communities.

Policy, by presiding over whteh is funded by a Soyland is an equity part-the state association of

$602.000 grant from the ner in Rural Adams economic development W. K. Kellogg Foundation Development Corporation, professionals, Soyland of Hattle Creek, Michigan.

Illint Conununity Develop-staff centinues to exhibit with additional funding ment Corporation, and support for rural from the University of Trt County Community economic development.

Illinois. Soyland and Development Corporation.

members of RURAL Under the cooperative PARTNERS. The purpose plan. the banks. utilities of RURAL PARTNERS is and other private partners to empower local com-share the risks no indi-munity leaders to design vidual institution could and manage the change and development of their 3

l MANAGEMENT REPORT member cooperatives with Electrification Administra-

[ k. i a broad mix of generating tion (itEAl and the capacity, use of the Nathnal Itural Utilttles transmission system, and Cooperative Finance Cor-i rg % t economie dispatching of paration (CFC) have I

generating units at a jo!ned Soyland in this

• [ ^3hi reasonable cost for the litigation. The case is c ur-hmn next 20 years or longer.

rently before the United I mu h 'L han

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changes, the amendment Appeats for the Seventh I

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increases the amount of Circutt on an appeal of an 3

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electric generating capa-earlier ruling from the d

city Soyland receives trial judge on the REA's from each of Illinois motion to enjoin a state Power's fossil fueled court proceeding which Legal Issues power plants eliminating RECC initiated against the need for Soyland to Soyland seeking to void The year 1990 also saw spend millions of dollars the wholesale power con-many important as early as 1995 to build tract. It is anticipated that developments in the area a major electric generat-the litigation will soon be of legal activilles of the ing plant of its own.

allowed to proceed and cooperative. Of single-Other significant legal that the parties will be most importance, Soyland developments involved able to engage in management the board of the dismissal of litigation discovery starting in directors and legal which a small number of mid 1991, counsel negotiated a very consumers calling favorable settlement in themselves the I ederation Generation Mir

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the litigation Soyland of Rural Illinois Electric initiated against Illinois Ratepayers inttlated Soyland has a broad Power Company for against many of the mix of generating capa-damages resulting from Soyland directors and city to meet its needs the construction of the officers fut personal through at least 2011.

Clinton Power Station.

liability artsing from Supplying about 25% of The major component of Soyland's parucipatton in our total energy require-the settlement was a the Chnton Power Station.

ments, the nuclear substantial amendment to The Illinois Supreme Clinton Power Station Soyland's Power Supply Court refused to review provides Soyland with Agreement with Illinals the matter any further.

125 megawatte of base

Power, thus rendering the load generation. 'Vhen the The original Power dismissal final and full finanetal impact of Supply Agreement unappealable.

the 1990 Clean Air Act between Illinois Power in other developments.

hits our coal fired and Soyland went into 1990 saw no real change generating plants, we effect in January 1985.

in the status of litigation should begin to appreciate The agreement gave which Soyland initiated the environmental advan-Soyland the right to against Rural Electric tages our nuclear plant 10.7% of the output of Convenience Cooperative offers.

Illinois Power's fossil Co. (RECC). Soyland filed Clinton's second refuel-fueled power plants, use suit for recovery of cer.

Ing outage was completed of IP's transmission tain monies withheld by in March 1991, with the system, and joint RECC under Soyland's next refueling outage economic dispatching of equity funding plan. The scheduled for the spring Soyland and Illinois suit also asked for of 1992. During the Power generating declaratory relief in the refueling ouMe one capacity Under its terms, form of a judgment third of the fuel oundles Soyland would have been holding that the whole-in the reactor core were required to seet.re new sale power contract replaced. Corrective and sources of generating entered into between preventative maintenance capacity to provide for the RECC and Western were also performed and cooperatives' future power Illinois Power Coopera-modifications were made supply beginning in the tive, Inc. (WIPCO) is a to enhance the plant's year 1995.

binding and legal obliga-performance.

The recently negotiated tion which now inures to amendment to the Power the benellt of Soyland by Supply Agreement pro-reason of the merger of vides Soyland and its 21 WIPCO into Soyland in 1989. Both the Rural 4

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Clean Air Act The 950 inegawatt c 'hnton I*owcr Sta-timned to be un excellent tion puuh's Sqlatul wnh I25 performer in 1990-The Clean Air Act, nnwau aus of ha a lo,uf gernunnn A.though the 22.mega-passed by Congress and

' dP "'HV watt ur,it is very small. Its signed liito law hy Prest.

operailng record has dent llush in late 1990, proven to he well above will have a financial average. Decause of its impact on Soyhnd and economical operation, the other midwestern utilities.

unit was on line more Although the Pearl than 1I months last year.

Station will not he Soyland has a good, lean affected, our participation operating staff at Pearl share in four of Illinois which has kept costs Power Company's fossil

. down when compared to fueled units will require other generating sources.

reductions in sulfur dioxide emissions.

Through our l'ower Coordination Agreement with lilinois Power.

Soyland will pay for its share of compliance costs.

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Although we prefer to Subsidiary Operations Parr Afan.iger of Enginecrou, & Operations.

continue using high sulfur Jun Grecnu nod.,\\fanager of Pou er Sup;ily:

Illinois coal as the Applied Energy Afu hael S.11cer. Attorney; Petricia S primary fuel switching to Systetus, Inc., tlie wholly.

Rernolds. Ihrectnr of Pubhc A Can ctninent low sulfur Western coal owned subsidiary of Netanons: Doucl.ts A. Doucherf r. Ihrc< tor nr cannot be ruled out as an Soyland, showed an Economic Des clopment: Robert N Harbour.

option. Illinois Power will therease in sales of Water-hcc President and Assistant 3 fan.icer.

apply to the U.S. Depart-Furnace geothermal units Nrnocth W Kanuncer AI.inager of Finance tuent of Energv to host a with a total of 365 units

& Adtnhustration Xot prtared: tre Wilmc.

Clean Coal Technology sold through the dealer Sta'I Engineer.

Project at the Baldwin network.

Station. DO,E funding Applied Energy could signitteantly reduce renegotiated the the cost of constructing a distributor agreement high technology clean air with WaterFurnace Inter-system at flaldwin.

national, adding several counties in Missourt to its servlee territory.

This year, Applied Energy executed a distrthutor agreemen'.

with Steffes ETS. Inc., a leading manufacturer of electric thermal storage (ETS) heaters. The ETS heaters offer cooperative members the benefits of electric heat with the advantage of incentive electric heat rates.

Through our subsidiary operations we are a recognized leader in marketing. Applied Energy will continue to assist the member distribution cooperatices in the promotion of geothermal systems and ETS heaters.

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MANAGEMENT HEPORT

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' 'h Forward Looking Soyland hit the groutul The ILddwin l'ower Station, Unit 3.

rtnining in 1990. Our rotor was sent to Gencial EIcetric fi)r We are fortunate to trani al offleers, dirretors.

repair in 1990.

have a new vice presidetit utanapnient and and assistant general ernployees have brought Inanager with over 30 us to where we are today.

years of electric tittlity Wi' are well c({ulpped to experience. Robert K.~

rnect the challenges of the liarbout joined our f uture aint hok forward to organization !!! Deceniher it with opttnilsin.

1990. uiter leaving towa Southern Utilities Coni.

pany in Centerville. Iowa.

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organization with a broad base of experience train E. ll. Williacis all avenues of the electric Executive Vice l' resident utility business.

arid General AIiln;mer

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7

COOPER ATIVE PROFILES Adams Electrical llegional Economic Clay Electric offers a Co Operative Development Consortium, fall grain drying rate as Adams Electrical is taking an incentive for farmers a leadership role in to use electricity at a developing several in-reduced cost, The i[f "7\\

dustrial sites across its cooperative also offers an Y

six county service area.

Interruptible rate to its HOAHD OF F ~*Sr, One of the tuote impor.

larger members, pro-

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tant sites is a parcel of viding the inember with a D 1 R E C T O H ti V

land at the Quincy air-reduced electric rate if the s

Mum De< tra al port, which was the site member curtails load dur-Roger C. Mohrman of a well publicized Air ing peak demand times.

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National Guard exercise The cooperative's staff in August. This week long is involved in local cl<n Doctric exercise of an F 16 Oghter chamber of commerce J,unes C Camphen jet squadron demon-and service organization strated the physical activities.

li Chuurd Canunon capability of the airport Chnfon Counh-y and has been portrayed in several major aviation James 15 Riddle Kenneth O liemanann g

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Several rural Adams E

A diverse group of County banks, along with businesses and industries Soyland, have joined p%

have come onto the forces to boost economic bMM Adams Electrical system development projects in i

In recent years and Adrus County. The Itural i

Y' M.D [_* 'f N' several longtime bust-Adams Development Cor-nesses have expanded, potation announced in providing new job oppor.

December has been

'b tunttles. Doyle Equipment formed to help businesses b

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A Manufacturing of Quincy in need of additional tg' has added a new product capital. Assets pledged by line, providing fertilizer each bank, along with a '

N blending and spraying contribution from t.

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equipment for agricultural Soyland, hcve been services companies. This nuitched by a grant from company is on an inter-7 ggi "I

ruptible rate provided by ra a p ol of I r Coopera tive, Inc.

the cooperative.

money for business start-Adams works closely ups, expansions, moder-tari uni Clinton County Electric with the Great itivers ntzations, relocations Economic Development and retentions in Adams Cooperative oflers a broad Foundation (GilEDF).

County.

anay f markedng pm local chambers of com-grams to its members.

merce and other area Although Clinton County development Clay Electric Electric serves primarily organizations.

Co operative, Inc, residential loads, it has Itoger Mohrman was expertenced growth in the elected president of Clay Electric Co opera-industrial sector recently.

GitEDF for 1991 and live serves a truly rural The cooperative manage-Adams staff members are service area. Ilowever, in ment believes it is ex-active in several other addition to the residential tremely important to offer organizaMons such as the services, the cooperative the member a choice.

serves numerous oil wells, which collectively make up 1015% of its system load.

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COOPER ATIVE PROFILES I

financing for up to 60 Coles Moultrie Electric and coohng homes or months.

Cooperative hustnesses. These rates The cooperative also include a dual heat and offers a time of day : ate to air conditioning rate, dual both the residenttid and ef[..g heat only rate, geothermal heating and cooling rate, commetelal sector. Six BOARD OF d

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cole nuunc Livet:w available to the more than development organiza-e w - p%

tions including Coles-Malcolm UNout 200 dairy farms it serves.

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Together, an organization D,umiO Fhdo The cooperative's water heater program allows x;/

recently developed to col-Corn fi< h each participating l

j lectively promote all of Je tirey D Hvem member a water heater at 4......

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the communities within Stephen Schert/

no cost; however, the Coles County, and the member must agree to East Central Illinois aDow the cooperative to Development Corporation, a participant in the interrupt electric use by 3,

radio control for a pertod j

Illinois Corridors of Opportunity Program.

of 10 years.

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Corn IJelt Elcetric j [w]i 'Y. k. J launched an electric load Coopera tive Inc.

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in and around uk>omington-member with a free Elec-tric Thermal Storage Unit Normal, one of the fastest dC"I"Pl"N ".IC"* I" d * "'

(ETSL An ETS unit is designed to store off peak E A diverse group of new state Illinois The Twin CIIICh "IC h"

• C (" Sl"IC energy at a reduced rate businesses has recently 0 arm ina umuce, Country which will then be located in the service area utilized during high of CMEC. Vogel Micro-Companies. Illinois State Unhersity and Diamond-demand hours. This pro-wave Foods is a storage Star Motors, a joint auto gram allows the and production factltty for manufacturing operation cooperative to reduce its microwave popcorn pro-peak demand.

viding a market for the owned by Chrysler Corp.

and Mitsubishi Motors.

The cooperattve works eastern Illinois popcorn Corn Delt and other to promote Clinton producers, The coopera-County and produced a tive also serves the new videotape called regional cancer center at p.1

" Gateway to Growth.'

Sarah Bush Lincoln M. '

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which promotes the llealth Center, which is Clinton County area to one of CMEC's largest business and industry.

loads. Mid State Tank Co.,

l Clinton County Electric an agriculture tanker

• A has also received approval mhnufacturer, is new to

'\\ O' for a $10(M)00 no-interest CMEC's lines, as well as e"

Rural Electrification Carle Clinic and the head-Administration loan for quarters of Coles-economic development.

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offers four new optional

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unother fairly new facility on Corn llell's systetn.

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linit Distribution. whleh pro. ides "just in time" I

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pillar. Diamond Star und other companies, employs s

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facility on Normal's west I

side, near Diamond Star.

g is Vuteq. which provides windshleids and other auto parts to the auto plant. Vuteq has brought about 80 new jobs to the N

area. Also nearby is the pittsburgh Paint and Glass (ppGl facility, which employs IH and supplies the auto plant with paint.

The cooperative actively promotes a time of day rate by supplying each interested member with an ellleient water heater at no coat. The coopera-tive then controls the use of these water heaters for 2 4 hours4.62963e-5 days <br />0.00111 hours <br />6.613757e-6 weeks <br />1.522e-6 months <br /> per day. Corn llelt offers a unique lo v cost air cotulltioning rate if the Incmber is willing to interrupt 15 minutes out of each hour when the ternperature hits SH degrn s. The cooperative also offers an cronomic development rate to new or expanding businesses l

such as its newest l

Incinber, the Days Inn j

south of Clinton. Illinobt 11 i

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COOPER ATIVE PROFILES curretitiv ElEC is actively local Community Develop-1 involved with several ment Corporation, Illini 4

g organt/ations throughout CDC, which works to v&a -

un its service area which tetain and create high

,,,, -. 3 y encourage economic quality employment i

growth through business opportunities in cast cen-exl.ansion utid location.

tral Illinois. The Illint D0ARD oF p.%~

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role CDC, a private partner-DIRECTORS 4

in Ford County submit-Ship between local area flasn rn II!nu 1:lectnc ting a RURAL, PARTNERS banks. the local coop-application which was cratives and Soyland, pro-y chosen as one of the first vides seed capital for ex-wnt luud chany.mn. Jr t

six counties to participate pansion and development Gem P.Wannbir

_.3 in the program.

ellorts.

D igar Ller m e in some cases ElEC has A planned Illinois Thomas J Henu gone beyond pmviding Department of Corrections electric $0rvlee to assist prison work emup will Joe Welsh members to maintain a bring a major new electric Farn.eis Munu! lifrcme f**

quality of Ufe equal to load to the cooperative metropolitan areas. I or and a projected i10 new us,rn L o< tp i ^+ #

cuunple, the cooperative jobs to the area. Construe.

Darwin.L mno is providing Mitettain.

tion on the Ininimutu

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q ment programming security prison facilit at through satelhte services the north edge of paris is

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ollered through the underway, with comple-

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National Rural Telecom-Hon scheduled for late Vd A 4W munteations Cooperative.

sununer.

Manager Dave Champton An expansion at h "U U"' bud of direc-Northrup King's Paris Eastern Illini Electric tors of NRTC-seed corn processing Cooperative facility has created six E Eastern Illini Electric Edgar Electric new fun Ume jobs and Cooperative activelv pur.

Co operative Association J5 40 seasonal jobs. The facihty has provided a sued ways to allow'the maler load for the member to take control of

^'I'erative for 20 years

'd """MY ""IC" WIU 2

his electric bill by offering a comprehensive set of inm ase dmnaucauy innovative rate structures C""h" "I N"' C X Pd"hl"U' Y% -

Edgar Electric serves the and promotional pro-grams. A theme which expandal facility on a runs through most of special rate designed by these incentives is to shift

.h,

du' mperative.

the operation and usage D"' "P""U V C "U,"5 of kilowatt hours from 4

d M

1. F ennunnie dwelogunent h '.

pR peak to off peak and at T C.l '

and interruptible rates to the same time increase f

ym industrial loads as wcH as e

kilowatt hour sales. The time of day rates in the cooperative promotes the residential and commer-latest in home heating CI"I *CCI"I' system technologies Edgar Electric is active

+

including geothermal, in the anta s ennunnte thermal storage and dual dweloinnent organtw system designs, The sue.

M T4,r%

eess in member accept-

\\ '

\\'-

Mns. wluch indude the Parh Enmomic Develop.

?'

ance of these programs is

,(

ment Corp. (PEDCO), the a testimony to the coop-Parb Chamhn of Com-

-/ h

1. jY / M crative's commitment to merce. Promote Paris, the member conununication.

C

/ D.

Last Central Illinois The cooperative cut-rently offers an economic

" / f~ ' ' ' n Dwelopment Corp. and tb Uhnob Dwelopment development rate and inter-

Council, ruptable rate to satisfy the growing needs of Edgar Electric Co-their commercial and in-N. operative Manager Tom dustrial members. Con-llentz was instrumental in the development of a 12

i C O O P I: R A 't i V I: P 110 P I L I". 8

.im?"R"V'YW l

Electric Cottsparty

~

"&@f[f'W,1h;j TM]

Farmers Afutual

'n.

ik; $(h '

$N

.j O Tne cooperatise fs; x'c

~4 l i

+ ~ !

t i' l ~

hasically ser,es laritis arid

.y acQM Pw'

.?.,.

rural houles in sotne 10

' '"D R

l[,f&[.

"YF kulkilvisions in the Q

-i l'atinerb Mutual *'. rvice

.,,rggG va-l j

.gjg '.

o;g~ '

territory. The 9.1all 4,. -w.

in-+ f - 10.)

eM.

rooperative doesn't serve M;'jvM'P

' ~

any inajor l'adustrial or conunercial accounts, but 0" e,

4 e

l'areners Mutual did see

,, + "

vg._,,,

sorne growth tri 1990.

l'arttiet s Mutual's cler-

,N tric sales have trinainett

.c* *

i flat duttrig the past 10 years. Grain drying is a inain contributor to the coopel'allve's crictgy sales.

The cooperative is an involsed and active sup-porter of the Geneseo Charnher of Cotntiterre and the Ornesco Develop-tuent Group. The coop-crutive is supporting IIertry County's applica-tion for (onmiunity developineitt ass!statire trotn the itUlsAL l'Altl'.

N!:ltS prograin.

,f, h' -

4 j

,.7 4n

-+ a g

gp yj lI 13

C O O P l; R A T I V E PROrlLES Hilnois Rural littr continues to olier IVEC oilers a nutuber of Electric Co, a reduced rate during the load untnagernent pro.

heating season to alb grains which have electric tuetubers I:nergy reduced IVEC's peak audits are conducted by dernand costs and have D**

the cooperative and used helped to stah!llie rates, f

to stre Waterl'urnace The cooperative ollers a b,

/'

11 o A 11 D or systerns for inernbets dual heat plan that D 1 lt L C 1 o R S liebates for the trutalla.

provides a reduced

'd tion of new geothennal l!lmo:= Nuhil l in o h' 0011s and CIlC loatis for m.b. n t. Dani

.i placetnerit units are Jh "Vatlable to all inctnberv walumUn wi

[ (p -H both snudl and truijor i,W"

,The cooperative seus "g <

4 inw. noin t in om i nnmhv i chn'n nsrn upphances to us inenWNs 6g with financing available.

3 Im I tu ut ison h also sells satelhte TV 4V u tonough h.uer equipuient and pungrand 34',

g%

y h

@k

(

(s ming to inemberk s

wmoun (

ta mons l

Several of the g]f (2 ;C f cooperauve's large power

'g 7 t vnral IW d

inernbers are operating

, ", ~

N under a new tune.of. day

~

rate. This rate provides

g '

A significant savinRs to the business while lowering I

k-the cooperative's overall h gg.,3 (ost of operation-ppyg dy, ll(l;C is nettve in a wide v

variety of organizations q, W"*", p

\\

j4 E

The cooperative was ari working to protnote

",, /

developinent in western r

active supporter and par-Ohnots The cooperative is ticipant in the ell

• to a nu mber of both the f.

g bring r n Illinois ()cpart' Winchester t ud I4ke "e,

3 inent,f Corrections mint' County chatnbers of com-mum security work camp merce'and parucipates in to north Greene County.

the Western llhnols Cor.

electric rate for offpeak Construction of the work ridor Council. Manager I'd horne healitig, as well as carnp. which will be Gant is a mernber of the a cash bonus for the in-(.crved by the cooperative, board of the Tri County stallation of an all electric is scheduled to begin Conununity I)evelopini nt heating systein.1 he sotnettme this year.

Corpontion representing cooperative also oliers ad.

The cooperative has Soyland Power. an equity worked closely with the pai.t ne r.

vantages for using electrt water heaters water Greene County I;conotule heater tilnerN security

!)eveloptnen! Corporation and received approval for Ullnois Vancy dectric light rental, air condi-tioner load levelers. and a $75.000 toterest free Cooperative. Inc.

oli. eak tirigation.

economic developrnent Through its af filiation loan from the Itural E

Illinals Valley Electric, with Soyland, IVEC is a l'lectrificailota Administra.

with serth e territoty in partner'in an aggressive Hon. A 20 acre inuustrial tiorth central lilino!s. has economie improvement park will la located adja.

several new kads on its program. It has con-cent to the prison work system. The cooperauve tributed Innancially and camp. Illinois Rural t nel serves a major silica sand participated in a nutuber Soyland will actively pro-mitung operadon, an FM of activihes with various mote the park to prospec.

radio broadensiing facih-regional economic des elop-uve businesses.

ty, a television station ment groups lilinois and a seed corn drythg YaHey Electric works with operaiton.1;ach of thes" H3 niembership and au loads is on a specially conununnies wuhin its designed rate benelitinM service area to promote both the member atul th" economic growth. Jobs cooperative-and businet.s expansion in north central llhnois.

14

C 0 0 l' 1011 A T I V I; l' 11 O l' I L 1: S m.m

'l u

- p t

f' l-

.j NI6 f y',

v.

.~.

.?

2 '#*%.,

8

{L Ejg

,,,#f' I'y jjk,\\

.lilf 'l'? s

, _j' ll *ll "

\\; $ i

\\

\\1cuottough 1*ower Cooperative The cooierative has brett un active particip.if tt in Ilie Maconib Aica Iridustrial Dew lopnient

1. "byy p.g, '),

l 4p ;

n

\\

'i e

3 5

h pygy

.v t'4"~*~

.g '{7,~f],

x L; &;

m

C O O P E R A T I V 1: P R O I' 1 L l' B Company (MMDCO).

storage heating systeins competitors service atul w hk h ha% helped britig coupled with individual Ittstall lirigallin) kysteinR several new itulustital waltn rootn units. M.J M.

Inany of thern in the f acilities to the atra in ollers a f(lute prograrn to coopetative% service f reent yt ars. eicating encourage the use of high territory.

soine 300 new jobs.

edleiency electric water The cooperative is post-Mattaget 11111 t.einons.

heaters and has linple-tioned to esteful service HOARD O l' who sus on the board of fuented a rental prograin to ic site for the pro-D1 REC 1Olt5 MMDCO. reconnues that for high elliciency posed Juni a Hotel, just the spin olf bentlits of security lights. The north of Springfield.

UJV1h ""

some new honu construe-coopetutive has ploinoted Menard Electric has also in non '\\

tion and fuertased com-these progratns through a expetterieed f a w home inctelal denumd are help-variety of marketing growth and actively pro-1.ida I a.m ing the cooperative.

offorts.

tuotre geothermal heating Ah ne d Cn Un yhp pgggeggtjyp wj\\l and cooling systelnA Menard Ulcetric took ti,andw knmh provale electrical service

~

the lead in developing a to a settes of cellular

[

m imi i; (.m telephone towers being joint televtston advertising cattipall.n with several M e.

<>unn th e o n t onstructed in the nica.

+--

e h,qh a 1, inn Partnerships to assist 3,[/ N f other cooperatives.

small and enutging Eqg Soyland and Water.

1%ht i na %,

husluesses have beeti f,urtlace ol llllliols also lotmed with Western participating. The adver-Illinois University. the tising campaign resulted

,y Iti direct in(piiries to the Western Uhnots Corridor Couru 11. atul the State of f

j cooperat tic legarding

+

electric grothernud Illinott McDonough

^^

heating and cooling Power and Soyland are acute participants in systems.

these colinhorative ellorts.

The cooperative is very active in local conunuttity M.J.M. Electric

"'I#'"'V""U"U""'

Coopera tive, Inc, qO with employees holding leadership positions in the g

M M,J.M. oilers a rebate to l'etersburg Chamber of Conmu tee. On Menard memhers who lostall new County Board,1.tneoln whole house. pertuanently

'\\

/

land Conununhy Cohege, instatied electric heating V

the Zoning Board, the systeins such as ground N 4.

l Peh tsburg fue Depart-sourer heat pumps or ment. Petersburg eHy govertunent and various h'

Menard Electric

""""" # 0"'I"U "" " '

"U""U"U""'

Coopera tive E

Supplying ch etric j'. N,

power to the many J

I

/DN)[

1rrigation systeins in its k

service territory is a key R~ f element of Menard Elee.

trie% businest The cooperallye oliers an in-I terruptible rate to f arms as att incentive for con-tinued electric use.

,,] g-The cooperative extended service to

[

Grosch irrigation Co. of A@

rural Mason City this b[ W

I summer. The 60-year old i

company has been in the i

'f Mason City atra for 12 years The company.

A D

.M which provides scrittes t.

(,

'i}sl across the entire state S-h has 13 full titue PC /L

^

employees Grosch and its m

m jg

C D O P l; H A T I V 10 l' R O l' l I, l', is Monroe County Electric Co Operative, Inc.

P k ; O *t*

• h

~

\\ f; p;QW ;)y%,

" :n

.i

sy

+

+ye,. i

.w Q'",f f@l Y;

u h, L d

i p

.s n.

t.

e

\\b y;

fl q

k;', * >

a

., ' n

", < y:-

l v

1.

• m ;;g. Mn L' ; "

) i' l ' ' ' ' '

(l 4

t 3

E, Q,

sq

" "l

{'~d d

pr f g:1

m T.. s j >

(rb)

' \\'

} h,.

sq-

.k $.

v-O hionroe Connix icciric c

Co-Operative is active in a vallety of local orgatilta-tionn working to protnote econornie clevelopitictit, inclucting the hionroe County l'.conointe

()evelopnient Conituis-sion, the Waterloo Charnber of Corntnerer, the St 1, outs llegional Cottunerce anct Growth Association atul the Southwestern Illinois I'lanning Cominission.

.Av The cooperative has been involved in the pro-pose (I creatiot) of the I'ountain Water District in rural hionroe County which would greatly enhance local econornle development efforts.

Cooperative service territory not currently coverect by a water district would becorne suitable aerrage for bu,iness location. The cooperative contitiues to participate with its local cottitnunities in business tetention activities.

hionroe offers a signifl.

cant rebate for the pur-17

COOPER ATIVE PROr!LUB (hase of an Electric Shelby Electric create 170 new jobs for The rinal Stor age Unit. liy Cooperative the art a-installing an E1 S urut. a

• I he cooperath e helped fuernber of Monroe can

. int spotu.or the l'estival of take advalitage of a low 57 Lights a lighted holiday a

dual i h etric heat rate.

dhplay on both sides of a

'I he cooperative has used inile long nsid to the this prograin to retain rgg u sort.

3 residential usage of y,y,

l he cooperative pnMou@Hsudled elec-p fp recently assisted two w n9 ao m~

tric heat while controlling

. _, jf,

longttine mernbers in

. t a n n

1. ( oh m '"

L iment BoHt surnption ut the winter j '@t espanding their opera.

the growth of tiectric con-i tions IUrvins Cotices-during peak tlines.

fu h

L sions. a popcor ti proces-

,d /

V Mng and packing unn s

. sone mioIre wn %bh r

'O

" ^*"'"YU""'"

Rural Electric mnn Lhu" Convenience Coop. Co.

panded its operations.

adding a new 500 kv ser. ice. Gat wood Seed E

Located Ju t south of pg gggcay,perau d the Illinois state caphol.

seM company, addM a Hural Electric provides r>OO kv servlec for new 3

servlee to rural areas and

/

i grain drying and Motage expan(litig subdivision

[I Im thun Sb lby Lleethe areas l he cooperative

..u' b idso provididg service has secti diverse load Os a new Rolf couN near growth in recent years.

ai Pana That f acility will ranging frotn a mawive i

open m u ye n Iro/en food warehousing k

Shelby I:lectric h fuellity to a 2.000 wpiare 11 ggygiypy g g yng. gg foot antique mall-upinal econonm-Th. cooperative E

Shelby 1:lectric Coop-development activities.

aggressively markets the crative praetteed what it The cooperative h a use of heat putups elee-preac hes and installed a nwndier of the Shelhyville tne water heaters.

Wateri urnace geothertnal Industrial Devehipme'nt baseboard heat and ch e-heaung and cooling ConunHHeandana tric clothes dryers system in its head.

t handicts of conunent through signihrant n bate quarters building this and inanager Jim prognons. l'he year. The cooperative will Colenum servn on the cooperative also ollers its use the syMem to demo" Skihv Cwmv \\'huofs mernbers energy loans ol strate energy savings to 4%ggg g, up to 55.000 at 5%

tts meinbers.

Coh man h so the interest over a seven year l'he tiew Departmerit of Shehiv Coumy comaet for in, Corrections medium ter;I he cooperative sup-gg. CNCent'ral Illinois securHy prison near Developmed Comoraus ports an agttessive Iaylorville is a major new Employees serve on member servlees and load for Sht Iby Electrie, coumv and load govern-marketing program.

l'he f acility h providing ment boards and conunts.

Hural Liectric h several hundred new jobs Mons and an a service involved in the activities for the ChrtMlan County ornamrauons of its area chatnbers area. When it's f ull. the of comtnerce and tacthly will house some econornie development 800 Inmates. Shelhv Elec.

Southwestern Electric coinmissions.

trte built a new sulktation Coopera tive, Inc.

at the prison to serve t he Iacility.

Sollthwestern Elcetric Shelby 1;lectne also Cooperative serves one of serves the Eagle Urt ek the lastest growing Resort and Conferenc e regtons in the state. With Center at !!agle Uteck much of its service ter-State Park. In addition to ritory located in the a luxurious 13Nroom greater St. I, outs rnetro-Clarion Inn hotel, politan area. the coop-restaurants and con-Ielence [aci!!ty. the resoM also leatures an IRhole championship colf coute e.

m The resort has helped

O O O l'1: H A T I V 1: P I4 0 F I I,1: H negr-m'P]' :

y ya q:,+o y-

=-

"4

+ - ' *

• djf if j1 1

l+.-

' dI

/

'{

~

significant comtnercial and rehltlential growth.

In order to keep pace with this dernand for y

I g

'N

,3 i

k i

f

.'QQ, a

g i.t

%Yf x

~

_L....

s C O O P E lt A T ! V E PROFILES tillable and t conomic Spoon River l'1cetric rates are available to electric service. the Co operaf f re. Inc.

quahhed inembers and a cooperattv Implemente d water pumping station is a Wide tal)Re of end use cufTetilly lR'nefitIng f rolli g

the rate.

programs. They include

'K time of day rates, horne The cooperauve is acuve in the area % pro-energy system rebates.

I (' /.s -

11 o A R D o l' electric iv.uer heater e;

Inotional acttvities.

Greg Catnpinll, die D 1itL C 1 o H s incenures, inter ru ptible coopt s alive inanager.

and economic develop.

3 3p-.on No e r lhtra gu.nt utek The server, on the board of the (at pey A ( afnp!H H poviperaggyp ( urten(jy hag Fulton County [cotiottile h ne it.nu m f 11 husinesses on its' N'

Development ' Corporation economic development and a stall tnember tw a in < ouon fm t "o rate which in indleauve of t

board meniber of the

~3 anusI Hannan the cooperative % involve-Canton Chamber ol ment in local economte

Commerer, in ai woaoni development activiues.

, m*'

Southwestern par-Tri County Electric Helpates in a wide variety Coopera tive, Inc.

of economic development ptograins across its 10

%*A i

county service territory.

including the hladison' Coopnauw has a rnulu-County l.eadership Coun-lacend inarkcung pro-

~

gmin Mgned m inenw ell, three regional Cor-C CU "

"N J 't ridors of Opportunity' (S

s y

coa.ts by spreading the councils. RURAL.

k "o,.. ~

., K -

benefits of additional cler-pARTNI RS and local

/

tric connunpuon arnong I

chambers of coinmetec.

'* "I U "' C" 4 "U "" ". UUorts to attract The hlavor of Greenville g A I."* ""* h"""'"*"e nauw is an eniptoyce of s

tww industrial and com-bulk on dw cooperative.

Southw estern.

system this past year, inercial loads to its ser-which is a hiv improve-vice area have resulted in ment over the past few several plant expansion y ears. This may be ati and new business indleator that the start.ups.

economy is slowly hlanager Jtin llittinan imprming in the Spoon and the cooperative stall River Clectue area.

Work closely With the htt.

hianager Greg Campbell noted that f tve coal intnes w

in l'ulton County have 17 closed since the cally 19$0s, taking approx.

Unately 1,000 jobs away S-h Q

4 from area residents.

AlthouRh the economy

$A in the Spoon Riser area f

W[y "

has sultered, the

\\/

cooperative has aggres-g sively supported area

/

Ji demi,mem acuvines m

y The cooperative sup-ported Fulton County's application for the f

RURAL. PARTNERS pro-40 gram and has ouered to

[

i provide a stall member to

_y pl serve as a conununity 3., um coord ma t or.

Tlle of Kl[WralIW (dlers a

[,

),

tchate program to the nienthers on both electrie

( vy Water' healcis afid geo-

"/' <

h' t heInlal heattflg Hil(l cool-

'"esystems hac'rupubie 8

. (. %; :

20

C O O P !;it A T l V r, P I( O F I L F. S Vernon industrial y

Developinent floard aiid Illutnati is chatrinati of

.i the tusard's jobs telcution cotuntltter. That group st:

incets nionthly with 4

local bu* inesses and cornpanies.

g.

7y The cooperative is a

[

strong supporter of the a

Saletu 1 llusttial park atid contrit,utes to the park's plottlottollal atid Inarket-h t

Ing ellorts. Tri County also works closely with O

4 the itetid Lake Conser-4 vancy Distrtet which pf holds several industrial

, g;f sites along 157 that are iU' served by the cooperative.

Tri County and Illinols 3

power also recently

(,

j,.

l 8igned agrectnents that

' = ' ~ '

eleaily designate ter.

t ritories for serving all 2,

future loads, including

'n' latge loads. This agree-

~

1 tuent will have tilne. con-l 1

_(,.

fustoll and disagrectnents R

hetween power supplier..

.;b'"

for any future develop-rnent in the area, llinttiati i?

kald.

i The residential m.

j ttwikettlig prograin of 0

Tri County has been h

t'Xtf elnelY sue ( t'k%ful in b

s' providing tuernhers with a o

variety of options to V ;p;-y m,

ituprove elllelency and lower costs. The coop.

erative actively proinotes geotherinal heat putnps and is aniong the leaders in cooperative tueinher installations in the state.

21

C O O P E lt A T I V E P it O F I L E S Wayne White Countles events with displays and Electric Cooperative handouts. Four times a year, the cooperative sends its niettlhers linfor-ination on incentive pro-

.g%

grains provided by the

'

• PCf"IIYC' im""] p*,f noARD or 9

D I R E C 'I O R S y

l Western lilinois

?

Electrical Coop.

wm ne u nac couun n

Dal, Orn n

,,,A g

m WlEC's meinbership

~

Th consists prituarily of 1.ai r s 1. Ils a hon

\\-

c}[G residential and farin ser.

kk O We ster n llI:nois I.In tro ul fNjI

/l%.

to perative's etiergy sales vices in recent years, the l'aul M twn Itastn D W o o n have remained relatively Ef4;g constant, and even

' AW

j though building projects t

in the cooperative's h @ S'"

servlee area have 9

increased, its inetuberdhlp r

\\

base retnains fairly g

Zh

steady, a

The cooperative has h.j/y %h developed a tuarketing program called Service A

' /g* /N;p plus. Arnong the pro-

.,.,,i f% 4 :N / b 3! @.+

grams offered are a geothermal heat putnp progratu, a low interest B

The cooperative is an linancing program, an active metuber in a electrie water heater tiumher of coturnunity rebate program, an air development organiza-source heat pump /

tions throughout its resistance electric heat servlee area. The coopera-program, a dual fuel pro-tive staff members hold gram with a rebate, and a leadership positions in reduced rate for electric regional corridor coun-cils and Individual com-yh fW munity economic develop-rnent organizations. The cooperative assisted two counties, Wayne and

., I M d.

llamilton, in the prepara-((a 2(,'

tion of applications for selection in the itUltAL PARTNEllS program, b

Y' "lielping Itural Com-inunities Prepare for I

Economic Development."

Both counties were among 'he first six coun-ties selected in the pm-

@v gram and Wayne White Counties Electric Coop-1 erative will continue its leadi tship position for NW f

both counties.

!JA a

During the past year i#

the cooperative has L

N[/ v 5

expanded its load reten-tion and expansion pro-j 2

l'f motional activities and 6

/

has attended fairs, trade

1. g 19 4

22 shows and community

COOPER ATIV E PROFILES y{9?f7p;'".",*'3 p

i

'i:.

i l

a h

5' pg

_f > 75

_s-

,r va

):tdj[ h.'-

y p;. q:

.,....y.

.r>

.-. ~ -.

=

c W

.q t

'El. '$ + <

J:yg y

,e n,;v' mqm 4 n

. q gg mr n

W*

grain drying. Wil0C also offers an econotute developinent tale to new or expanding businesses.

1:conornic developinent activity is on the increase in WlE ;'s area. The llancock County Economic Developnient Association was formed recently and the cooperative jolned with Soyland to support the group. Western Illinois provides leadership by serving as the head of the Carthage Chatuber of Conuncree. There is also interest in forrning a bank cominunity developruca' corporation and in!llal meetings have been held.

23

SERVICE AREA

1. ADAMS ELECTRICAL CO-OPER ATIVL P O Ikn 24 7, carnp Point 62320

2. CLAY ELECTRIC CO. OPERATIVE, INC.

\\

,~~ \\

l P O lios 5I7 Plota 62839

3. CLINTON COUNTY ELECTRIC

~]

COOPE R ATIVE, INC.

P.O. Box 40. lireca.e 02230

4. COLES MOULTRIE ELECTRIC

'7 COOPERATIVE 8

D-

~

P O. Ilo\\ 709. Mattoon 6I93H 10 S. CORN bet,T ELECTRIC IM d

COOPER ATIVE, INC.

l q

P.O lior 816. filoornington VI 702 08I6 l

f

6. EASTERN ILLINI ELECTRIC COOPERATIVE b=

[.

t,\\.

P.O. Ilot 98. Pa tton 60957 11 in

7. EDOAR ELECTRIC CO. OPERATIVE 21 ASSOCIATION T

s P.O. Ilot 190. Parts 61044 y

)

,w

~

8. FARMERS MUTUAL

-1 V

l I3

/

ELECTRIC COMPANY

(

P.O Ilox 43, Genesco Gl254

-l y

%j M

O

[7 f"

9. ILLINOIS RURAL ELECTRIC CO.

"f Is

% AC 7

212 S. Main Street Winchester 626H4 9

4

10. ILLINOIS VALLEY ELECTRIC

-/

C g

h COOPER ATIVE, INC.

I P O. liox 70 Princeton 6I356

.J

&)

]

V gg g

r i.

~

11. McDONOUOli POWER COOPER ATIVE l

17 P.O. Ik>x 352. Macomb 61455

12. M.J.M. ELECTRIC COOPERATIVE, INC.

)

)

y 3

P.O.13ax 219. Carhnville 62626 L

I 3

f

13. MENARD ELECTRIC COOPERATIVE W~

W G

P.O.13ax 279. Petersburg 62675 20 14

/

19,

14. MONROE COUNTY ELECTRIC d

CO-OPERATIVE

~ '

)

P O. Ilox !28. Waterh>o 62298

15. RURAL ELECTRIC CONVENIENCE

/

s COOPERATIVE CO.

P.O. Ilos 19. Auburn 62615

16. SilELBY ELECTRIC COOPERATIVE l

P.O. Llow 166. Shelbyrtile 62565

17. SOUTIIWESTERN ELECTRIC COOPER ATIVE, INC.

P.O.13ax 409. Greenville 6224b

18. SPOON RIVER ELECTRIC CO OPERATIVE, INC.

P.O. Elox 340. Canton 61520

19. TRI. COUNTY ELECTRIC COOPERATIVE. INC.

P.0, Drawer 309. Mt. Vernon 62864

20. WAYNE WHITE COUNTIES ELECTRIC COOPERATIVE

• SOYLAND IIEADQUARTERS P.O. Drawer E. FairncId 62837 Ikcatur

21. WESTERN ILLINOIS ELECTRICAL COOP.

• DISTRICT OFFICE P.O. lior 338. Carthage 62321 Jacksonville 24

INDEPENDENT AUDITOR'S REPORT

j c14 w

' V Peat Marwick Certified Public Accountants 1000 Davenport Bank Budding 220 Main street Davenpor'. l A 62801 Independent Auditor's Report The Board of Directors Soyland Power Cooperative,Inc.

and Subsidiary:

We have audited the accompanying consolidated balance sheets of Soyland Power Cooperative,Inc.

and subsidiary as of December 31,1990 and 1989, and the related consolidated statements of revenues and expenses, members' deficit and cash flows for the years then ended. These consolidated financial statements are the responsibility of the Cooperative's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards. nose standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit includes assessing the ac-counting principles used and significant estimates made by management, as well as the overall financial statement presentation. We believe that our audits provide a teasonable basis for our opinion, in our opinion, the consolidated financial statements referred to above present fairly,in all material it-spects, the financial position of Soyland Power Cooperative, Inc. and subsidiary at December 31, 1990 and 1989, and the results of their operations and their cash flows for the years then ended in conformity with generally accepted accounting principles.

MM

[*A February 12,1991 i

amt lyrw d Mare.ch Gaet#et 25

CONSOLIDATED BALANCE SHEETS I

Sayland Power 0 Cooperative. Inc.

December 31, ASSETS (note 4) 1990 1989 ELECTRIC UTILITlY PLANT, at cost (note 3):

S 1,005.496.776

$ 1,002,131,022 In service Less accumulated depreciation.

89,691,123 64,449,781 915,805,653 937,681,241 Construction work in progress......

2,194,791 3,071,757 Nuclear fuel, at cost less accumulated amortization of $12.611,170 in 1990 and $9,348,100 in 1989 20,136,530 21,010.517 Plant site held for future use 7.262,285 7,260.346 Net electric utility plant 945.399,259 970.229,861 INVESTMENT 84 investment in associated organization, at cost 16,020,811 13.245,370 8.930.000 8,930,0(X)

Notes receivable (note 7)...

Marketable securitten - decommissioning trust fund, at cost.

521.058 Total investments 25,471,869 22.175.370 CURRENT ASSETS:

120.092 784,323 Cash 4,187,792 33,850,000 Temporary investments...

Accounts receivable, members.

15,671.221 13,837.577 Other receivables 8,444,884 3,698.852 Inventories.......

9,521,030 8.447,692 Prepayments and other 294.016 273.013 Recoverable energy costs 4.042.191 2.152.271 Total current assets 42,281.226 63,043,728 DEFERRED CIIARGES:

Costs deferred under phase in plan (note 3).

23,432,677 18,738,677 Deferred interest (note 4) 51.328,416

_ 52,721,04)

Total deferred charges 74.761,093 71 159,718

$ 1.087,913.447

$ 1,126,908.677 See accompimying twtes to consolidated 11tumcial statements.

26

CONSOLID ATED llALANCE S il E E T 8

&wland l'ower 0 CE> perative, Inc.

Decernber 31.

CAPITALIZATION AND LIAlllLITIES 1990 1989 CAPITALIZATION:

Meinbers' dellef t:

Mernbership fren.

S 1,075 1,075 Patronage capital.

2,779,203 2,779,2G'3 Other equity, 191,029 191,929 Deficit (4 8,07 b,2 38)

(48,727.074)

Total inernbern' deficit (45,702,371)

(45,754,807)

Long tcrtu debt, c Aeluding current installinents (note 4),

1,004.102,842 1,020.556,635 Total capitallration 958,400,471 974,H01,H28 CURRENT LIABILITIES:

Current installinents of long.terrn debt (note 4).

20.041,000 19,105,0(K) 10,342,302 14,164,4ti9 Accounts payable..

Advances trorn incinbern 17,010.724 I H,0fl3,HH2 Accrued interest 15.020,378 14,703,370 Acerued expensen.

2,578,910 2,442,193 Total cuttent llabtlltica 72,193,314 GH,49H,910 OTIIER LIABILITIES-decorninissioning reserves 521.058 400,0(X)

DEFERRED CREDITS (notes 1 and 31:

Equity funding payinents.

50,738,004 71,398,102 1 I,H09,777 Deterred revenue.

Total deferred credits 50,738,004 H3,207,939 COMMITMENTS AND CONTINGENCIES (notes 7 and H) 6 1,087,913.447

$ 1,126,908,077 See acetrinpanying notes to r'onsolklatt'd (Inuncial staternents.

27

CONSOLID ATED STATEMENTS OF REVENUES AND EXPENSES l

0 %ylatul Power ciuyn'rative. Inc.

Years ended Deecenber 31.

1990 19N9 OPERATING REVENUES:

Electric energy sales......

S 181,007,405 S

109.150.042 Sales of ground source heat putups, net 1,184,477 100.976 Distribution revenue.

017,000 737,009 1(ent of electric property 60,113 29.030 Other.

23,282 28.173 Total operating revenues

!83,408,277 170.851.830 OPERATING EXPENBES:

Operatiott:

Purchased catmetty (note 7) 49,538,140

.,3,773.219 Energy costs lnote 7).

39,804,228 40,191,334 Production - other 10,005.702 9.449.094 Transtnission.

2,135,200 2,109.274 258.730 119.082 Distribution.

Cost of ground source heat purnpa sold.

804.085 047,390 0,174,957 4,915,438 Maintenance..

Adtninistrative and general.

3,030,910 6,180,726 Depreciation and arnortizattori 20,702.050 25,344,002 Property and other taxes,

2,573,404 2.294,812 121,058 200,000 Decottirntssioning provision Conts deferred unoer phase on plan (note 3)

(4,094.000)

(13.448.081)

Total operating expenses 137,541,745 121,782.896 Net operating snargin 45,000,532 49.0G8.940 OTIIER REVENUE lp settlernents (note 7) principally related to plant ownersh 8,385,150 7.966.110 Net rnargin before triterent charge.

54.341,088 57,035.050 INTEREST CilARGES:

Interest on long. term debt.

54,055,440 57,000.491 Other 2,000,030 1,457,012 Allowance for lorrowed finds used during conttruction (1,772,824)

(1,803,06R)

Net interest charges.

54,289,252 50,721.035 Net snargin..

S 52,430 314.015 See accornpanying notes to consohdt led financial staternents 28

CONSOLID AT ED STATEMENTS OF CA8H FLOWS Suvland l'ower 0 Ohperanve, Inc.

Years ended Deccinber 31, 1990 1989 CAS11 FLOWS FROM OPERATINO ACTIVITIES:

Net rnargin S

52,430 314,015 Adjustnients to reconcile net tuargin to nel cahh provided (uned) by operating netivities:

Depreclation and arnorttiation of electrie utility platit 25,531,827 25,510,175 Aniortiration of deferred interest utid recovetable energy costs.

1,351.024 4.077,03i Amortiration of nuclear fuel..

3.203.070 2,170,430 Arnortiration of equity funding payrnenth.

(14,059.558)

(0,293.270)

Arnortiration of delerted revenue (11,809,777)

(12,215,tKX1)

Deconuntantoning provision...

121.058 200,(K K) increake in deferred interest and recoverable energy (2,795,422) costs (1,848,010 i

Accretion of inventinent discount (17,712 l (17,712}

Patronage capital allocations not heceived tb end.

(3.144,3801 (2.917,432)

(Increase) decrease in accounts and other receivables.

(0,570,070 3,27H 3nt (1,073,338l (l,H 17.4781 lucrease in inventorteh.

lincreanc) dectrane in ptepayrnenta and other.

(21,003) 350.002 Conta delerted under phase-in plan (4,094,000)

(13,44 H,0H l) lucrease in becounta payable and accrued liabilitlen.

2,031,502 4.H27.565 Net cash provided (usedi by operating activitten (10,800,705) 1.229.H74 CASII FLOWS FROM INVESTINO ACTIVITIES:

Additions to electric uttllty plant, net..

(2,181,2121 (8.350,150)

(39,243)

Additions to investruent in ah90etated organtrations (43,000 l

Additions to decornmishiontng trunt Iund.

(521,058 l Purchuhen of nuclear fuel (1,783,083)

(7.23H,73H)

Heceipt of prior yearn' patronage capital alhicationn 411,948 371.880 Net cash used in inventing activitten.

(4,110,405)

(15,250.245)

CA811 FLOWS PROM FINANCING ACTIVITIES:

Principal payrnenta on long term debt (18,070,888)

(15.210,241)

Proceeds frorn longderm borrowingh 4,130,807 3,365,(KK)

Hepayment of notes receivable..

10,174,890 (Detteuse) increase in advancen from membeth (473.158) 10.083.6H5 Net cahh provided (uard) by financing activitten (15.313.230) 14.407.334 Net (decrease) increuse in cash and ensh equh alents (30,320,439) 3HO,903 Canh and cash equivalents at beginntrig of year 34,034,323 34,253.300 Cash and cash equivalents at end of year 8

4,307.884 34.034,323 SUPPLitMENTAL DISCLOSURE OF CASil FLOW INFORMATION:

Cash paid during the year for tuterent S

50,008.000 59.749,299 SUPPLEMENTAL DISCLOSURE OF NONCA811 INVESTING AND FINANCINO ACTIVITIE8r The Cooperative made several reclassiftentions of costs in lOH9 related to the Clinton facility us follows:

lucreaseldecrease)

Electric utility plant in service

$ 4,384,325 Nuclear fuel.

(3,754,007)

Inventories.

(029.05H) in connection with the debt restructuring agreement with HEA (see note 4), the Coo ierative inercap.d in-terent and restructured debt b $ 11,315,72n relating to interent on the rehtructured debt hit th'. period January 1,1989, tr Wuch W.101'0, See accompmyIng notes to connohdated unancial staterneots.

29

C O N B O I,l D A T E D STATEMENTS OF MEMBER 8' DEFICIT Sorlatul I'vwer 0 C5 operative. Inc.

Years ended December 31,1900 and 1989 Total Member-Patronage Other members' ship feca capital equity Def!?lt deficit Dalance December 31,1988.

$ 1,675 2.779.203 191.929 (49.041,689)

(40.068,822) 314.015 314.015 Nei margin Italance December 31,1989.

1.075 2,779,263 191,929 (48,727,674)

(45,754,807) 52,430 52.436 Not tuargin thlance Decernber 31,1990.

$ 1,675 2.779.263 191.929 (48.675,238)

(45,702,3711 ber acroinpanying notes to cotswhdatr<l unanchtl staternettts, 30

NOTEH TO CONMOLID AT ED FIN ANCI AL HTA1EMENTS k s Luul l'on er 0 @yerante. Inc.

December 31.1000 and 19f40 NOTE l - OltOANIZATION AND tiUMMAltY Or BIONlflCANT ACCOUNTINO POLICIES A. OllO ANIZ ATION The consolidated financial staternents tellect t he accounts of F.oylatal pow er Coolmrative. inc. atul its wholly owned subsidlary (the Cooperativet. The subskliary was etrated in 1987 tot the purpose of seillfig ground source heat pumps to rural consutners. All signtitcant nitercoinpany uansactiotis have betti ellinituited in consolidation.

11. IIASIS OF ACCOUNTINO The accounting tecords of the i noperative are maintained in accordance with the litulotm Systern of Aerourith ptesettbed by the ihual Electrilicatloti Administration The Cooperative is a getwrattori and transniission coojwrative providing wholesale rh etite hervice to (th twerity one mernhers itwated itt central atul houthern Illinots.

The Coopetalive'n ates ate established by the boatd of Dircelors atal atc hubicet Io appioval by the Hural Electrtiteation Administration. 't he Cooperative la not subject to the regulatory authority of the Illinoim Conunt tre Comtnission.

The Cooperative lutm enteled into wholesale power agtreinentk with each of its niembeth whleh requtic the enembers to buy and receive from the Cooperative all their power and energy requuesnenth atul require the Cooperattve to sell and deliver power and energy in hatisfaction of huch f equirernefith The wholchair luiwer agtreinetita with the rinctubers extetid to vattous yeath f rotti 2OIT to 2017.

C. El.ECTitlC UTILITY PLANT Depicetation of cleeute utlhty plant in w rvlee is provided over the estimated useful liven of the resper-tive anseln on the straight.ltne basin at rates tangit g f rom 2.5% to 20%

hased upon guidelinen provided by the Nuclear llegulatory Coinmt% Ion and in conjuncuon with Illinoin power (principal owner aint openitor of the Clinton generating luctittyi the Coopetutive estimaten that its portion of the costs to decoturnission Clinton will be approxinmtely $17 ADO.OOO (In 19% dollars) which will not begin until 2027. The prenent value of the future deconuntwloning costa is being tecoveted over the life of the facility using the striking fund turthod.

Matutenance and repair of property and replacemerits and tenewals of itema determined to be less than units of property are charged to expense. l(eplacement and renewals of itemn considered to be unita of property are charged to the property accounts. At the time properties are disposed of, the original cost, plun cost of temoval lean salvage of such ptoperty, is charged to aceutnulated deptectation.

D. Al.LOWANCE FOlt ilOl(ItOWED FUNDS USED DUl(ING CONSTi(UCTION The allowance for borrowed funds used during the perledt of construction trpresenth the estimated interest cost of borrowed funds used %r construction purposen. The composite rate uned to calculate the allowance approxituated 0.7% for ld90 and 8.4% for 19M9.

E. NUCLEAll PUCL The cost of nuclear fuel, tueluding capitaltred interens ud overheads, is being amortlied to fuel expense on the basis of the number of units of thermal energy pruluced in relationship to the total thermal units expected to be produced over the life of the fuel. Nuclear f uel expense includes a provinton for estimated spent nuclear fuct disposal cost which 18 being collected currently from turmbera and retnttled to the Department of Et ergy which is responsible of the disposal of the spent nuclear fuel.

T. TEMpollAl(Y INVESTMENTS Temporary investments consist of CTC commercial paper, treasury bills, and an interest bearing sweep account and are stated at coH which approximates market.

The Cooperative cottsidern all highly liquid trivestmenta with original maturities of three months or less to be cash equivalents.

O. INVENTOltlES Inventories consist of material and supplies and are stated at moving average cost

11. PENSION PLAN The Cooperative maken annual contributions to the plan equal to the amount accrued for pension expense.

31

NOTES TO CONSOLIDATED FIN ANCI AL STATEMENTS Sovland Power l

0 CNperative. Inc.

}

l

1. POWER SUPPLY PAYMENTS Payments made under power supply agreements (see note 7) are classtlled as purchased capacity, energy costs and transmission expense in the statements of revenues and expenses.

J.DEPERREDITEMS Deferred credits consist of equity funding payments and other deferred revenue. The equity funding payments were collected from members and were used to reduce borrowings related to the Clinton generating facility. These payments are being amortized to revenue over a seven year period beginatng in 1988. The deferred revenue represents payments collected from rnembers during 1987 md 1988 which primarily relate to estimated 1987 operating expenses of the Clinton generating facility that were not incurred due to Clinton not being placed into commercial operation until December 1987. These payments have been amortired to revenue over a three year period ending in 1990.

Deferred charges consist of costs deferred under a phase.in plan (see note 3), deferred interest (see note 4) and recoverable energy costs in excess of revenue generated from the sale of power. These costs will be recovered through rates in future periods, The amount of these costs to be amortired in 1991 has been reflected as a current asset in the balance sheets.

K. REChASSIPICATION Certain accounts for 1989 have been reclassified to conform to the presentation for 1990.

NOTE 2 - MERGER in March 1989, the Cooperative and Western Illinois Power Cooperative. Inc. (WIPCO) merged into one cooperative retaining the name Soyland Power Cooperative. Inc. The merger was accounted for as a pooling of interests effective January 1,1989.

NOTE 3 - ELECTRIC UTILITY PLANT IN SERVICE The major classes of electric utility plant in service at December 31,1990 and 1989, are as follows:

1990 1980 Nuclear plant and related faellitica.

$ 962,030,386

$ 959.077,083 Steatn and other production plant 12.992,114 12,989.275 Transmission plant.

16.302,261 15,974,002 Distribution plant 7.232,467 7.164,230 General plant 6.939.548 6.926.432 Electric utility plant in service

$ 1.005.496.776

$ 1.002,131.022 The Cooperative (including WIPCO) has a 13.21% interest in the 950 megawatt Clinton nuclear generating facility k>cated in Clinton, Illinois which was completed and placed in service in 1987. The Cooperative's share of operating expenses associated with this facility is included with the appropriate operating expenses in the statements of revenues and expenses.

Prior to 1989, the Cooperative estimated its ownership percentage in the Clinton facility was 13.38%

sub}ect to adjustment based on the final direct cost to construct the faellity. In 1989. the Cooperative negotiated a final settlement with Illinois Power Company (majority owner and operator of the Clinton facility) which established the Cooperative's final ownership percentage at 13.21%. The settlement resulted in a net reimbursement from Illinois Power Company of $12.018.154, (including interest of ap-proximately $5.6 million) to reimburse the Cooperative for its proportionate share of the costs of Clinton based on the lower ownership percentage.

In 1990 the Cooperative and Illinois Power Company (IP) settled litigation initiated by the Cooperative 0 gainst IP (as project Manager) concerning the construction of the Clinton Power Station and the related etanter claims asserted by IP against the Cooperattve. The terms and conditions of the settlement agree-men: provided that Soyland and IP dismiss all pending litigation and release each other from all claims resulting from the construction of the Clinton Power Station. The settlement also provided for an exten-ston, and other modifications, of the Cooperative's power supply agreement with IP (see note 7). Also, as a 32

NOTES TO CONSOLID ATED FIN ANCI AL STATEMENTS boda rul l'ou er Y

C5perath c. Inc.

part of the setdement, the C(xiperative will receive a cash payrnent f rom IP w hich has beeti inchnled in other revenue in the statements of revenues and expenses. The settlement is subject to flind approval by the appilcable district court.

In 1988, the Cooperative developed a rate phase in plan in accordance with Statement of l'inancial Accounting Standards No. 92 which is designed to inoderate late increases related to the completion and commercial operation of the Clinton factitty. The plan, which has been approved by the RCA and the Cooperative's Board of Directors, inchides the deferral ol < ertain costs for f uture recovery and the amorti-ration of equity funding and deferred revertue payments, Under the plan, the Cooperative originally intended to defer approximately $47 rnlllion of certain operating costs of Clinton hom 1988 through 1992 which will be recovered from mernbers through rates f rorn 1993 through 1997. Through 1990, the Cooperative has deferred approxinuttely $19.(KK)JUO less in costs that anticipated in the original phase in plan. 'Ihc Cooperative estimates that its rates under the plan, net of equity funding and deferred revenue amorttration, willinercase yearly by approximately 3%6% from 1991 through 1994 and remain level or decrease each year therrafter through 1999. Management believes that this plan will result in the full recovery of its investruent in Clinton over the life of the faellity as well as providing adequate funds to meet its operating needs.

NOTE 4 - LONG TERM DE!IT Long term debt at December 31,1990 and 1989. consists of the following:

1000 1989 Restructured debt - tmputed interest at 2.703% due in various quarterly installments through 2028 5 497,485.003

$ 507,790.87S Federal l'inancing llank (FTil) - 7.337 % - 9.607 % mort.

gage notes payable, guaranteed by the Rural Electritica.

tion Administration (REA), due in various quarterly installments through 2018, 196,176,488 193.527,949 Rural Electric Cooperative Grantor 'I' rust Certillcates -

7.3% to 9.7% notes payable. guaranteed by the Rural Electrification Administration (REA), maturing in various amounts through 2017.

270,300,000 278,200J)00 National Rural Uttiltles Cooperative l'inance Corporation (CFCI - vartable rate (currently 8.75%I rnortgage notes paychte, due in various quarterly Installments through 1998 49,387,640 53,767,312 Rural Electrification Administration O(EA) - 2% and 5%

notes payable. due in quarterly installments through 2018 20.434,097 21,301,173 Notes payaile - 7.375% due in equal Installments thmugh 1992 60XXK) 90f00 Total long-term debt 1,039,843,2 5 1,054,083,309 Less:

Current installments 20,641,000 19,105,000 Reacquired Grantor Trust Certturates, net of discount 15.039.386 15.021,674 1,ong term debt, excluding current installments and reacquired debt

$ 1,004.162.842

$ 1.020.556,635 Cor+urrent with the WIPCO merger, the Cooperative negotiated a restructuring agreemect on March 29, 1989. with RCA relating to approximately $515,000JO0 of outstanding debt (including armed Interest) owed by WIPCO on various loans guarantecci by REA, The loans were obtained to finance construction costs relating to the Clinton generating fuellity, Under the restructuring agreement, WIPCO's debt was restructured into two notes payable to REA: Note A, for $211,172,525 and Note H for $304.066,284. The Note A bears interest at 10 06% and ts due in quarterly instalknents through 2028.

33

s NOTES TO CONSOLID ATED FIN ANCI A L STATEMENTS So eL w d l'ou er 0 Cooperatn e. hne.

The Note 11 beats interest at 10 06% and requites the Cooperative to make annual Energy Sales Payments (lot principal and interesti on Note 11 begturnng in 1993 through 202K The amount of the Energy Sales Payment is based on a load growth formula ta. deternuned by the agreement) winch will tesult in a pay.

ment d, and only if. future load growth is achieved. To the extent that interest on Note 11 for any calendar year is not required to be paid, such unpaid intt test is added to the unpaid prinetpal balance of Note 11.

The amount of the Note 11 not icpaid by Deermber 31.2028 ts forgiven. Management of the Cool.erative projects a stable hiad in f uture years and therefore amletpates that paynients under Note 11 will be minimal, it any. Ih ause of the uncertainty relating to the Cooperattvei obligation to make principal and interest payments on Note 11, only the required principal and interest payinents on Note A have been used to com;iute the im;iliett interest rate of 2.703% on the testructured debt. In the event that the Cooperative's load growth is such that pa)Ittents on Note il ate probable the truplicit interest tatt will be adjusted prospectively.

As part of the testructuting agierment, RCA has included in Note 11 $ 107,360.810 of prior period unpaid interest on the restructured debt. The Cooperative has included $53.294.999 of this aunount in electric plant Octating to the period the plant was under construction) and $54.071.811 as deferred interest, The deferred interest will be amorttred and collected through rates over the life of the restrue-tuted debt.

Annual maturttles of long term debt for each of the hve years subsequent to leercinher 31.1990 are as follows: 1991, $20.641000,1992, $21,802MKh 1993. $23,008MXh 1994. $24.097,000 and 1995.

$ 2 5,313,000.

At Dreember 31,1990, the Cooperative had $2.076.000 of unadvanced funds available from long term loans upproved by FFil and $28 000 000 of unadvanced lunds available from short term loans approved by CFC.

All assets of the Cooperative are pledged to secure the long term debt to REA, ITil and CFC, NOTE 5 - PENSION PLANS The Cooperative participates in a multi employer dehned benefit pension plan and a 401(K) defined contributton plan which covers substantially all employees. Total pension expense for both plans amounted to $128,921 and $140,726 for the years etuled December 31.1990 and 1989. respectively, NOTE G - INCOME 1 AX STATUS The Cooperative is a nonprofit corporation under the laws of Illinois and ts exempt from Federal and state income taxes under applicable tax laws.

NOTE 7 - COMMITMENTS The Cooperative anticipates that the Clinton generating station will furnish approxtmately 30% of its energy requirements. The current and additional long term energy requirernents will be furnished through power supply agreements with lilinois Power Company (iP) and Central Illinois Public Servlee Company (CIPS) as discussed below.

The Cooperative has contracted to purchase capacity from IP's fosstl fueled generating plants through 2011 as follows:

1991 1992 - 372 MW 1993 1994 - 278 MW 1995 2011 - 417 MW The Cooperative has also contracted to purchase capacity from CIP's coal fueled units through 1999 as follows:

1991 - 1994 - 214 MW 1995 1999 - 101 MW 34

NOTES TO CON SO LID A TED FIN ANCI AL BTATEMENTS 1

Soyland Power CooperalIve. Inc.

The contract payments to Ip and CipS are determined on an "as if owned" basis and include capacity charges (consisting of production. operation and inaintenance costal and energy charges. Total contract payinents made to Ip and CipS amounted to approximately $49.400.000 and $32A00.000, for 1990 and

$50.300.OCK) and $20.900.000 for 1989, respectively.

The cooperative has a note receivable froin lp for $8.930.000 for working capital advances relattrig to the fosall-fueled plants under the power supply agreement described above. The note bears interest a t 10.75% and th due in 1992.

NOTE 8 - CONTINGENCIES Under the price. Anderson Act (as arnended in 198H. all nuclear power station operators are subject to public liability for a nuclear.ncident which is currently limited to $7.279 billion per incident. Coverage of the first $200 million is provided by private insurance with the balance provided by retrospective premium assessments against each licensed nuclear unit in the United States. As a jotut owner of the Clinton nuclear facility, the Cooperative is a party to the insurance policies which are maintained by tilinois power Cornpany (80.79% owner atid operator of Clinton) and is charged for its proportionate share of such insurance costs, in the event of an incident at any nuclear plant tri the United States in excess of

$200 million, the Cooperative could be assessed a maximum of $8.322,300 per incident, with a maximum assessment of $1,321,000 per year.

The Cooperative is a defendant in various claims and lawsuits arising in the ordinary course of business, llased on discussions with legal counsel. Inanagement believen that the final settlement of these actions will not have a material adverse eIIcet on the Cooperative a financial position or results af operations.

35

MEMllER COOPER ATIVES' 1990 OPER ATINO ST ATISTICS Sovland Pon D c<overanve.er inc.

STATEMENT OF OPERATIONBt CLINTON COLES-CORN (In 61.000)

ADAMS CLAY COUNTY MOULTRIE DELT Operating Revenue

$ 8.932

$ 3,955

$ 7,911

$ 10,974

$ 17,348 Purchased Power

$ 6.035

$ 2.598

$ 6.069

$ 8,048

$ 11,886 Operating Expenses.

1,663 752 1,174 1.902 2,716 Depreciation Expenses.

461 246 303 412 1,024 Tax Expense 132 62 81 157 351 interest.

535 203 332 359 1,340 Total Cost-Electric Service

$ 8.826

$ 3,861

$ 7,959

$ 10.878

$ 17,317 Operating Margins 106 94 (48) 90 31 Non. Operating Margins &

Capital Credits 295 82 231 328 230 Total Patronagt Capital or Margins 401 176 183 424 201 ASSETS & OTIIER DEBITS Total Utility Plant

$ 18.225

$ 9.915

$ 10.013

$ 16.145

$ 39,149 Accumulated Provision for Depreciation & Amorttration 5,134 3.240 3,362 5,152 9,486 Net Utility Plant

$ 13,091

$ 6,675

$ 7,251 5 10.993

$ 29,663 Total Other Property &

Investments

$ 3,222 473

$ 1,790

$ 1,182

$ 1,676 Current & Accrued Assets.

1,423 710 1,893 4,560 3,885 Deferred Debits 24 66 160 1

173 Total Assets

$ 17,760

$ 7,924

$11,094

$ 16,736

$ 35,397 LIABILITIES & OTiiER CREDITS Margins & Equities

$ 5.262

$ 3,426

$ 4,082

$ 9,305

$ 11,671 lamg Term Debt.

9,640 3,908 5.583 6,569 21,075 Current & Accrued 1,tabillties 991 469 181 409 2,289 Deferred Credits.

1,867 121 1,248 453 362 Total Liabilities

$ 17,760

$ 7,924

$11,094

$ 16.736 8 35.397 OTIIER STATISTICS Miles of I,ine 2,068 917 962 1,772 2.846 Consumers Served.

6.861 2.948 4,644 7,638 12.530 Consumers Per Mile 3.32 3.21 4.83 4,31 4,40 KWil Sold Per Consumer 11,316 12,610 19,449 14,704 13,000 Total MWil Sales.

77,641 37,175 90.319 112.311 171,166 Annual Revenue Per Consumer.

1,302 1,342 1,703 1,437 1,385 Plant Investment Per Consumer 2,656 3,363 2,285 2,114 3,124 36

EASTERN ILLINOl$

ILLINOlB ILLINI EDOAR FAHMFH4 HURAL VALLEY McDONOUOli M.J.M.

$ 18 (wwi

$ 6.003

$ 1,672

$ 10,720

$ 7,133

$ 6.178

$ 8,929

$ 11,631

$ 4,037

$ 1,152

$ 7,115

$ 4,387

$ 4,647

$ 6.003 3,746 1,277 261 2,110 1,609 913 1,363 1,153 236 92 516 78 230 415 156 110 27 131 126 89 133 1,315 199 102 646 1,205 122 431

$.001 6 5.859

$ 1,634

$ 10,518

$ 7,405

$ 6,001

$ 8.945 5

144 38 202

$( 272)

$ 177 (161 750 152 46 154 89 181 240 755 296 81 356

$( 183) 358 224

$42,063

$ 10,474

$ 3,489

$22,751

$32,983

$ 8,407

$ 15,802 11,538 3,555 1,098 0.822 1,758 3,83H 4,301 4..gey..e.e-..e..-

n

• r.-.m*-

+ - - + - -

$30,525

$ 6,919

$ 2,391

$ 15,929

$31,225

$ 4,569

$11,501

$ 2,301

$ 1,971 212

$ 1,540 804 425

$ 1,225 7,870 1,241 400 2,408 2,505 2,t14 3.072 74 80 5

209 5

O 415

$40,770

$ 10,217

$ 3,014

$20,086

$34,$39

$ 7,427

$ 16,213

$ 14,673

$ 5,923

$ 1,140

$ 5,628

$ 3,725

$ 5,075

$ 6,321 24,190 3,342 1,777 12,350 30,275 2,216 8,813 1,868 900 97 953 506 113 590 39 52 1,155 33 23 489

$40,770

$ 10,217

$ 3,014

$20,086

$34.539

$ 7,427

$ 16,213 4,510 1,469 338 2,817 1,743 1,366 1,710 12,568 4,914 1,258 9.660 5,575 4,622 7,411 2,79 3.35 3.72 3.43 3.20 3,38 4,33 13.549 11,504 11,756 0,975 11,445 13,702 10.887 170,280 56,533 14,789 96,363 63.807 63,332 80.681 1,433 1,222 1,329 1,110 1,279 1,337 1,205 3,347 2,131 2,773 2,355 5.916 1,819 2,132 37

MEMilER COOPER ATIV ES' 1990 OPER ATING ST ATISTICS kwland Power 0 Cthperative. Inc.

STATEMENT OF OPERATIONS:

RURAL SOUTil-(In 61.000)

MENARD MONROE ELECTRIC SIIELilY WESTERN Operating Revenue

$12,107

$ 6,281 4 8,039

$ 13,226

$ 21,934 Purchased Power

$ 8,153

$ 4.426

$ 5,902

$ 10,245

$ 15,067 Operattag Expenses.

2,486 803 1,274 1,904 3.200 Depreciation Expenses.

633 342 344 524 1,115 Tax Expense 144 64 77 658 333 Interest.

541 415 454 16 1,526 Total Cost-Electile Service

$ 11,957

$ 6.050

$ 8.051

$ 13,347

$ 21,241 Operating Marg'ns 150 231 (121 (121) 693 Non Operating Margins &

Capital Credits 229 83 232 167 146 Total Patronage Capital or Margins 379 314 220 46 839 ASSETS & OTIIER DEDITS Total Utility Plant

$21.125

$ 13.061

$ 13.235

$ 10.997

$ 46,350 Accumulated Provision for Depreciation & Amortir.ation 4,833 3,446 4.078 7,852 12,036 Net Utility Plant

$16.292

$ 9,615

$ 9,157 8 9,145

$ 34,314 Total Other Property &

Investments

$ 1,377 488 944

$ 1,881

$ 1,761 Current & Acerued Assets,

4.393 1,105 3,719 367 5,116 Deferred Debits,

75 22 26 300 110 Total Assets

$22,137

$ 11,230

$13,846

$ 11,693

$ 41,301 LIABILITIES & OTIIER CREDITS Margins & Equities

$ 7,083

$ 3,193

$ 3,093

$ 10,700

$ 12,835 26,363 Long Term Debt.

13.663 7,902 7,567 Current & Acerued Llabilities 1,307 72 3,057 896 1,962 Deferred Credits.

84 63 129 97 141 Total Liabilities

$22,137

$11,230

$ 13,846

$ 11,693

$ 41,301 OTitER STATISTICS Miles of Line 2,437 1,001 1,279 2,078 3,055 Consumers Served.

8.352 4,938 4,785 8,562 14,197 Consumers Per Mlle,

3.43 4.93 3,74 4.12 4.65 KWH Sold Per Consumer 14,505 12,011 15,504 17,735 14,418 Total MWH Sales.

121,146 59.311 74,185 151,846 204,697 Annual Revenue Per Consumer.

1,450 1,272 1,680 1,545 1,545 Plant investment Per Consumer 2,529 2,645 2.766 1,985 3,265 38

s SPOON TRI-W AYN E.

RIVER COUNTY WillTE WESTERN TOTAL AVERAOE

$ 4.630

$ 21,190

$ 19.251 6 3,988

$ 218.413

$ 10,401

$ 2.811

$ 15,786

$ 15,228

$ 2,473

$ 154,299 8 7.348 963 2,670 2,708 800 36,300 1,728 309 9p3 923 273 10.582 504 202 218 279 61 3.591 171 335 1,159 705 343 12,323 587

$ 4,620

$ 20,786

$ 19 843

$ 3,990

$ 217.095

$ 10,338 16 404 (592) 18) 1.318 C 'l 163 178 152 78 4,206 200 179 582 (440) 70 5.524 263

$ 11.560

$ 33,905

$ 32,500

$ 9.6H2

$ 428,437

$ 20,402 3,187 8,439 10,845 2,105 116,105 5,529

$ 8,373

$ 25,466

$ 21,661

$ 7,577

$ 312,332

$ 14,873

$ 2.264

$ 1,776

$ 1,428 706 29.446

$ 1,402 1,054 735 2,973 1,431 53,280 2,537

'34 59 17 1.8eo 90

$ 11,691

$ 28.011

$ 26.121

$ 9,731

$ 390,938

$ 18,902

$ 3,098 6 8.138

$ 12,894

$ 2,597

$ 140,762

$ 6,703 5,721 18,989 12,242 6,740 228,925 10,002 525 884 657 389 19,115 010 328 5

8.130 387 1.447

$ 11,691

$ 28,011

$ 26.121

$ 9,731

$ 396,938

$ 18,902 1,170 2,661 3,225 1.168 40,592 1,933 4,039 12,930 13,257 3.237 154,926 7,377 3.45 4.86

4. I 1 2.77 3.82 8.831 17,412 16.414 10,002 13.920 35.669 225,142 217,603 32,570 2,156,566 102,694 1,148 1,639 1,452 1,232 1,410 2.862 2,622 2,452 2.991 2.765 39

/

i

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Soyland Power Cooperative, Inc.

788 North Sunnyside Road

• Decatur. Illinois 62522 (217)423 0021