Wells Rural Electric Co. Financial Statement
June 1, 2018
| ASSETS | December 31, 2016 | December 31, 2017 |
| Electric plant in service | $73,422,160 | $76,265,706 |
| Construction work in progress | $1,262,602 | $655,749 |
| Less allowance for depreciation | ($40,076,177) | ($41,318,164) |
| Net electric plant | $34,608,585 | $35,603,291 |
| Investments in associated organizations | $1,835,924 | $1,866,278 |
| Cash and cash equivalents | $4,895,946 | $7,349,714 |
| Accounts receivable | $3,825,381 | $3,664,757 |
| Materials and supplies | $1,120,961 | $985,932 |
| Prepaid expenses and accrued assets | $2,919,270 | $2,504,280 |
| TOTAL ASSETS | $49,206,066 | $51,974,252 |
| LIABILITIES | ||
| Equities and margins | ||
| Patronage capital | $19,684,898 | $19,735,972 |
| Long-term debt – CFC | $15,556,561 | $17,958,980 |
| Consumer advance for construction | $1,844,682 | $1,959,834 |
| Current Liabilities | ||
| Accounts payable | $2,810,984 | $2,795,688 |
| Consumer deposits | $104,146 | $101,200 |
| Other current and accrued liabilities | $9,204,795 | $9,422,579 |
| TOTAL EQUITIES and LIABILITIES | $49,206,066 | $51,974,252 |
| INCOME STATEMENT | ||
| Electric sales | $42,610,550 | $43,623,094 |
| Other income | $151,256 | $177,477 |
| TOTAL INCOME | $42,761,806 | $43,800,571 |
| EXPENSES | ||
| Cost of power | $30,349,904 | $31,410,001 |
| Operations and maintenance | $4,202,520 | $4,574,283 |
| Consumer accounting | $725,751 | $608,541 |
| Administrative and general | $4,369,481 | $4,262,349 |
| Depreciation | $2,034,125 | $2,133,960 |
| Taxes | $7,820 | $8,182 |
| Interest | $449,961 | $550,974 |
| Other | $64,285 | $40,623 |
| TOTAL EXPENSES | $42,203,847 | $43,588,911 |
| MARGINS (Capital Credits) | $557,958 | $211,660 |
