farmers’ electric cooperative, inc. of new mexico · 2019-08-23 · fec farmers’ electric...

FEC FARMERS’ ELECTRIC COOPERATIVE, INC. OF NEW MEXICO

April 30, 2019

Mr. Mariano RomeroRecords ManagerNMPRC Records Management BureauPO Box 1269Santa Fe, NM 87504-1269

Re: NMPRC 17.3.510.12 NMAC - Annual Reporting

Dear Mr. Romero,

Enclosed are copies of our NMPRC Annual Report Form for 2018 and RUS Form 7 and7 (a) for the calendar year ending December 31, 2018.

The Cooperative did not engage in any activities described in NMPRC Rules 17.1.2.51(E) NMAC or 17.6.450.13 (A) & (B) NMAC; therefore we are in compliance withNMPUC Rule 17.1.2.51 (A) NMAC.

Please call me at 575-762-4466 if you should need additional information.

Sincerely,

Lance R. AdkinsGeneral Manager

LRA/sh

Enclosures

3701 THORNTON ST. o P,O. BOX 550 o CLOVIS, NEW MEXICO 88101 T̄EL: (575) 762-4466 . 1-800-445-8541 F̄AX (575) 769-2118

RURAL ELECTRIC COOPERATIVES

ANNUAL REPORT

FILED IN OFFICE OF

OF MAY "~ ~0~9~’~,,! pLIBL[C P, EC~L’L~TION COMM

FARMERS’ ELECTRIC COOPERATIVE, INC. OF NEW MEXICO

TO THE

NEW MEXICO

PUBLIC REGULATION COMMISSION

FOR THE

YEAR ENDED DECEMBER 31,2018

.inel NoteNo.I Indent.

211B370311B3714~1B372511B373611B374~’ NM00990070018 ~ N M00990100019~NM0099011001

101NM0099012001111 NM0099013001121NM009901400t131N M0099015004141N M0099015005151N M0099015006161N M0099015007171N M0099015008181NM0099015009191NM0099015010201 NM009901501121 INM0099O1501222 NM0099017-00123 NM0099017-00224 NM0099017-00325 NM0099017-00426 NM0099017-00527 NM0099017-00~28 NM0099017-00729 NM0099017-00830 NM0099017-00931 NM0099017-01032 NM0099017-01133 NM0099017-01234 NM0099017-01335 NM0099017-01436 NM0099017-01537 NM0099017-01638 NM0099017-01739 NM0099017-01840 NM0099017-01941 NM0099017-02(~42 NM0099017-021431H0010441H0015451HO02046 t H0025471 HO030481 H0035491 HOI~.O501 H0045511H0050521 Hoo55531F0060541 F0065551 HO070561 H0075571F0080581 F008559 F009060 F009561 H010062 F010563 F0110

6~ F0115 233317

To I PUClWhom DecisionIssued No.

REA IN/A IREA I N/A IREA IN/A IREA IN/A IREA IN/A INRUCFC I 1612INRUCFC I 16121NRUCFCI 1869INRUCFC 2018NRUCFC 2195NRUCFC I 24031NRUCFC IN/ANRUCFC IN/ANRUCFC IN/ANRUCFC IN/ANRUCFC IN/ANRUCFC IN/ANRUCFC IN/ANRUCFC INIANRUCFC IN/ANRUCFC I #N/ANRUCFC I #NIANRUCFC I #N/ANRUCFC I #NIANRUCFC I #N/ANRUCFC I #N/ANRUCFC I #N/ANRUCFC I #N/ANRUCFC I #NIANRUCFC I #N/ANRUCFC I #NIANRUCFC ~ #N/ANRUCFC ~ #N/ANRUCFC I #N/ANRUCFC t #N/ANRUCFC I #N/ANRUCFC #N/ANRUCFC I #N/A INRUCFC I #N/ANRUCFC I #N/A !NRUCFC I #N/A i

Date ofIssue

3/31/20065/24120063117120088/22/20089/29/20087116/1981

10115/19811FJI1984

6/19119868/10/19888/21/1991

10/15/201010/15/201010115/201010/15/201010/15/201010/15/201010/15/201010115/201010115/20108/29/20168/29/20168/29/20168/29/20168/29/20168/29/20168/29/20168/29/20168129/20168/29120168/29/20168/29/20168/29/20168/29/20168/29/20168/29/20168/29/20168/29/20168/29/20168/29/20168/29/2016

Date ofMaturit~

FFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBFFBCOBANK

3158i3158!31581

N/AN/AN/A ;N/A :N/AN/AN/A :NIAN/AN/AN/AN/ANIAN/AN/AN/ANIAN/AN/A

4/11/20003/21/20013/29/20014/29120045/6/2004

6/24/20046/24/2004

912/200410/19/200412/17/2010

8/5/20118/30/20015111/2012

914/2 0122112/20138/16/20132/4/2014

8119/20144/13/2015

12/16/20163/14/2018

10/19/20185/7/2 015

3/31/20415/24/20413117/20418/22/20419/29/20417/1/2016

10/15/20161/9/2018

6119/20218/10/20238/21/20269/30/20149130/20159130120169130/20179130/20189130120189/30/20209/30/20219/30/20223/31/20173/31/20183/31/20183/31/20203/31/20213/31/20223/31/20233/31/20243/31/20253/31/20263/31/20273/31/20283/31/20293/31/20303/31/20313/31/20323/31/20333/31/20343/31/20353/31/20363/31/2037

TOTAL

6/30/203512/31/203412131/20346/30/2039

12/31/203712/31/203712/31/20379/30/2039

12/31/20371/3/20451/3/20451/3/20451/3/20451/3/20451/3/20451/3/20451/3/20451/3/2045113119451/3/20511/0/190(31/3/1951

5/20/2023

Less AdvancePayments Unapproved (Account 227)Total

LONG TERM DEBT (Accounts 221 - 228)

PrincipalAmount

3,000,00(;2,000,00C2,000,00(]3,000,00C4,956,00C

654,00C1,131,00C

436,05(:619,79-~

1,139,5831,150,00C

832,35~815,17~836,507497,054460,007380,76~339,393343,702115,900363,999486,582499,265510,381524,605539,044554,815570,731589,129607,517626,778646,315668,082690,249713,326736,967762,516788,761816,090844,530510,570

2,000,0002,697,0002,697,0005,000,0005,000,0002,500,0002,500,000

14,00015,000

2,000,0003,000,0004,000,0003,000,0004,000,0003,000,0003,300,0004,700,000

630,360470,640

2,000,0004,000,0003,000,0002,129,646

99,411,184

Amounts OutstandingDeferred

Principal Interest

00000000

83,048274,194471,049

00000

287,078339,393343,702115,900

00

125,964510,381524,605539,044554,815570,731589,129607,517626,778646,315668,082690,249713,326736,967762,516788,761816,090844,530510,570

1,271,4211,788,7131,806,9543,639,8463,636,5881,822,8391,827,381

9,77410,671

1,779,8072,616,759

" 3,479,0512,566,5153,440,3612,629,8822,961,6184,238,897

571,094430,020

1,963,3573,951,2153,000,0001,002,154

64,185,651-8,641,33055,544,321

Per BalanceSheet

0000000

83,048274,194471,049

00000

287,078339,393343,702115,900

00

125,964510,381524,605539,044554,815570,731589,129607,517626,778646,315668,08269O,249713,326736,967762,516788,761816,090844,530510,570

1,271,4211,788,7131,806,9543,639,8463,636,5881,822,8391,827,381

9,77410,671

1,779,8072,616,7593,479,0512,566,5153,440,3612,629,8822,961,6184,238,897

571,094430,020

1,963,3573,951,2153,000,0001,002,154

64,185,651

INTEREST FOR YEARRate Amount

4.70% 05.01% 04.35% 04.46% 04.36% 06.13% 06.18% 03.65% 6064.25% 4,3194.50% 13,5714.75% 23,2733.10% 03.40% 03.70% 03.90% 04.10% 7,0934.25% 16,1494.40% 14,9334.45% 15,2954.55% 5,2732.05% 02.30% 4682.45% 9,1522.60% 13,2702.75% 14,4272.95% 15,9023.10% 17,1993.15% 17,9783.20% 18,8523.25% 19,7443.30% 20,6843.35% 21,6523.40% 22,7153.45% 23,8143.45% 24,6103.50% 25,7943.55% 27,0693.55% 28,0013.60% 29,3793.60% 30,4033.65% 18,6363.40% 46,0205.21% 97,4605.40% 101,9903.80% 145,0912.81% 108,9162.81 o~ 54,5943,80% 72,8432.51% 2634.02% 2904.27% 78,8433.34% 91,5263.22% 117,3632.65% 71,9292.27% 83,4512.73% 75,9233.45% 106,9103.20% 142,2742.86% 17,2442.30% 10,5612.96% 61,0192.99% 99,4473.28% 20,4422.88% 32,932

2,137,590

ELECTRIC OPERATION AND MAINTENANCE EXPENSES

1. Enter in the space provided the operation and maintenance expenses for the year.2. If the increases and decreases are not derived from previously reported figures explain in footnotes.

Line AccountNo.

(a)1 POWER PRODUCTION EXPENSES2 STEAM POWER GENERATION3 Operation4 500 Operation supervision and engineerin95 501 Fuel6 502 Steam expenses9 505 Electric expenses

10 506 Miscellaneous steam power expenses11 507 Rents12 TOTAL OPERATION13 MAINTENANCE14 510 Maintenance supervision and en~]ineerin~l15 511 Maintenance of structures16 512 Maintenance of boiler plant17 513 Maintenance of electric plant18 514 Maintenance of miscellaneous steam plant19 TOTAL MAINTENANCE20 TOTAL POWER PRODUCTION EXPENSES-STEAM POWER21 NUCLEAR POWER GENERATION22 OPERATION23 517 Operation supervision and engineering24 518 Fuel25 519 Coolants and water26 520 Steam expenses27 521 Steam from other sources28 522 Steam transferred-Cr29 523 Electric expenses30 524 Miscellaneous nuclear power expenses31 525 Rents33 MAINTENANCE34 528 Maintenance supervision and en~]ineering35 529 Maintenance of structures36 530 Maintenance of reactor plant equipment37 531 Maintenance of electric plant38 532 Maintenance of miscellaneous nuclear plant39 TOTAL MAINTENANCE40 TOTAL POWER PRODUCTION EXPENSES-NUCLEAR41 HYDRUALIC POWER GENERATION42 OPERATION43 535 Operation supervision and engineet’ing44 536 Water for power

45 537 Hydraulic expenses46 538 Electric expenses47 539 Miscellaneous hydraulic power 9eneration expenses48 540 Rents49 TOTAL OPERATION50 MAINTENANCE51 541 Maintenance supervision and engineering52 5421Maintenance of structures

Amount for year

(b)

0.00

0.000.00

0.000.00

Increase ordecrease frompreceding year

(c)

0.000.000.000.000.000.000.00

0.000.000.000.000.000.000.00

0.0(]0.0(]0.0(]0.0(]0.0(]0.0(]0~0C0.0(~0.0(]

0.0(~0.0C0.0C0.0C0.0(~0.0C0.01~

O.OCO.OC

O.OCO.OCO.OCO.OCO.OC0.00

0.0C

LineNo.

Page 2ELECTRIC OPERATION AND MAINTENANCE EXPENSES (continued)

Increase orAccount

(a)11 HYDRAULIC POWER GENERATION (Continued)2i 543 Maintenance of reservoirs, dams and waterways3! 544 Maintenance of electric plant4; 545 Maintenance of miscellaneous hydraulic plant5 TOTAL MAINTENANCE6 TOTAL POWER PRODUCTION EXPENSES-HYDRAULIC7 OTHER POWER GENERATION8 OPERATION9 546 Operation supervision and engineering

10 547 Fuel11 548 Generation expenses12 549 Miscellaneous other power generation expenses13 550 Rents14 TOTAL OPERATION15 MAINTENANCE16 551 Maintenance supervision and engineering17 552 Maintenance of structures18 553 Maintenance of generating and electric plant19 554 Maintenance of miscellaneous other power generation plant20 TOTAL MAINTENANCE21 TOTAL POWER PRODUCTION EXPENSES-OTHER POWER

22 OTHER POWER SUPPLY EXPENSES23 555 Purchased power24 556 System control and load dispatching25 557 Other expenses26 TOTAL POWER SUPPLY EXPENSES27 TOTAL POWER PRODUCTION EXPENSES28 TRANSMISSION EXPENSES29 OPERATION30 560 Operation supervision and engineering31 561 Load dispatching32 562 Station expenses33 563 Overhead line expenses34 564 Underground line expenses35 565 Transmission of electricity by others36 566 Miscellaneous transmission expenses37 567 Rents38 TOTAL OPERATION39 MAINTENANCE40 568 Maintenance supervision and engineering41 569 Maintenance of structures42 570 Maintenance of station equipment43 571 Maintenance of overhead lines44 572 Maintenance of underground lines45 573 Maintenance of miscellaneous transmission plant46 TOTAL MAINTENANCE47 TOTAL TRANSMISSION EXPENSES46 DISTRIBUTION EXPENSES49 OPERATION50 580 Operation supervision and engineering51 581 Load dispatching52 582 Station expenses53 583 Overhead line expenses54 584 Underground line expenses55 585tStreet lighting and signal system expenses

Amount for year

(b)

0.000.00

0.00

0.000.00

21,654,899.36

21,654,899.3621,654,899.36

2,446.83

41,103.2699,897.65

143,447.74

401.92

13,164.622,672.07

16,238.61i159,686.351

87,446.35

117,976.061,566,907.07

54,824.73

decrease frompreceding year

(c)

0.000.000.000.000.00

0.000.000.000.000.000.00

0.000.000.000.000.000.00

1,692,875.560.000.00

1,692,875.561,692,875.56

183.250.00

8,699.971,043.84

0.000.000.000.00

9,927.06

-359.620.00

-22,027.00-6,440.11

0.000.00

-28,826.73-18,899.67

3,104.150.00

-16,370.9735,874.02

0.007,634.63

ELECTRIC OPERATION AND MAINTENANCE EXPENSES (continued)

Increase orLine AccountNo.

(a)1 DISTRIBUTION EXPENSES CONTINUED2 586 Meter expenses3 587 Customer installations expenses4 588 Miscellaneous distribution expenses5 589 Rents6 TOTAL OPERATION7 MAINTENANCE8 590 Maintenance supervision and engineering9 591 Maintenance of structures

10 592 Maintenance of station equipment11 593 Maintenance of overhead lines12 594 Maintenance of underground lines13 595 Maintenance of line transformers14 596 Maintenance of street lighting and signal systems15 597 Maintenance of meters16 598 Maintenance of miscellaneous distribution plant17 TOTAL DISTRIBUTION EXPENSES18 TOTAL DISTRIBUTION EXPENSES19 CUSTOMER ACCOUNTS EXPENSES20 OPERATION21 901 Supervision22 902 Meter reading expenses23 903 Customer records and collection expenses24 904 Uncollectible accounts25 905 Miscellaneous customer accounts expenses26 TOTAL CUSTOMER ACCOUNTS EXPENSES27 SALES EXPENSES28 OPERATION29 911 Supervision30 912 Demonstrating and selling expenses31 913 Advertising expenses32 914 Revenues from merchandising, jobbing and contract work33 915 Cost and expenses of merchandising, jobbing and contract work34 916 Miscellaneous sales expenses35 TOTAL SALES EXPENSES36 ADMINISTRATIVE & GENERAL EXPENSES37 OPERATION38 920 Administrative and general salaries39 921 Office supplies and expenses40 922 Administrative expenses transferred-Cr41 923 Outside services employed42 924 Property insurance43 925 Injuries and damages44 926 Employee pensions and benefits45 927 Franchise requirements46 928 Regulatory commission expenses47 929 Duplicate charges-Cr48 930 Miscellaneous general expenses49 931 Rents50 TOTAL OPERATION51 MAINTENANCE52 935 Maintenance of general plant53 TOTAL ADMINISTRATIVE & GENERAL EXPENSES54 TOTAL ELECTRIC OPERATION AND MAINTENANCE EXPEN

Amount for year

(b)

78,490.4O47,475.04

453,136.841,680.92

2,407,937.41

60,796.801

20,487.9511,116,566.44

142,516.06988.60

193,036.95

1,534,392.803,942,330.21

76237.31547,196.85809,947.20-42,550.06235,015.26

1,625,846.56

40,290.70!

40,290.70

decrease frompreceding year

-117,457.50-10,205.4214,158.47

-131.85-83,394.47

7,506.320.00

-62,382.29-40,540.35

0.00-48,674.05

-3,135.6464,554.56

0.00-82,671.45

-166,065.92

9,632.2976,674.4523,549.38

-42,550.06-55,877.4711,428.59

0.003,908.12

0.000.000.000.00

3,908.12

614,092.50100,674.81

48,571.8410,128.04

1,481.060.00

188,120.01-33,348.06355,911.21i

800.00i1,286,431.41i

56,051.101,342,482.51

28,765,535.69

39,425.26-40,521.48

0.0011,246.994,621.81

215.120.000.00

13,952.22-4,597.184,275.73

0.0028,618.47

-35,005.30-6,386.83

1,516,859.85

ELECTRIC OPERATION AND MAINTENANCE EXPENSES (Continued)

SUMMARY OF ELECTRIC OPERATION AND MAINTENANCE EXPENSES

LineNo. FUNCTIONAL CLASSIFICATION

1 Power Production Expenses2 Electric Generation:3 Steam power4 Nuclear power5 Hydraulic power6 Other power7 Other Power Supply Expenses8 Total Power Production Expenses9 Transmission Expenses

10 Distribution Expenses11 Customer Accounts Expenses12 Sales Expenses13 Administrative and General Expenses14 Total Electric Operation and Maintenance Expenses

OPERATION~b)

21,654,899.36

21,654,899.36143,447.74

2,407,937.411,625,846.56

40,290.701,286,431.41

27,158,853.18

MAINTENANCE

16,238.611,534,392.80

56,051.101,606,682.51

TOTAL(d)

21,654,899.36

21,654,899.36159,686.35

3,942,330.211,625,846.56

40,290.701,342,482.51

28,765,535.69

NUMBER OF ELECTRIC DEPARTMENT EMPLOYEES

15 Number of electric Department Employees, Payroll Period Ending16Total Regular Full-Time Employees17Total Part-Time and Temporary Employees18Total Employees

October 31, 2018503

53

The data on number of employees should be reported for the payroll pedod ending nearest to October 31, or any payroll period ending 60 days beforeor after October 31.

If the respondent’s payrolls for the reported period include any special construction forces include such employees as part-time and temporaryemployees and show the number of such special construction employees so included.basis of employee equivalents. Show the estimated number of equivalent employees attributed to the electric department from joint functions.

ooo

o

Line

Page 6

CONSTRUCTION OVERHEADS-ELECTRIC

1. Report below the information called for concerning construction overheads for the year.2. List in column (a) the kinds of overheads according to the titles used by the respondent. Charges for outside

professional services for engineering fees and management of supervision fees capitalized should be shown asseparate items.

3. On the lower section of this schedule furnish the requested expanatory information concerning constructionoverheads.

4. A respondent should not report "none" to this schedule if no overhead apportionments are made, but rather shouldexplain on the lower section of this schedule that only such engineering, supervisor, and administrative cost, etc.,which are directly chargeable construction are charged to construction, if this is the case. Engineering, supervision,administrative and interest cost, etc., which are first assigned to a blanket work order and then prorated toconstruction jobs shall be considered overheads for the purposes of formulating a response to this schedule.

123456789

1011121314

Name of Overhead

(a)Consulting Engineering ServiceInspection of Work Orders

Total overheads clearedto constructions

(b)3,140.78

Total 3,140.78

Cost of construction to whichoverheads were charged (exclusive of overhead charges)

(c)

General Description of Construction Overhead Procedure3,546,363.37

Percent overheads toconstruction cost

(d)

0.000886

1. For each construction overhead for electric plant explain:(a) Nature of the engineering, supervisory, or administrative work, etc., the overhead charges are intended to cover.(b) The general procedure for determining the amount capitalized.(c) The method of distribution to construction jobs.

(d) Percentages applied to different types of construction.(e) Basis of differentiation in percentages for different types of construction.

(f) Amounts capitalized for each overhead for the year for which this report is submitted.2. In addition to other information conserning engineering and superintendence or other such over heads, explain whether

chargeable to specific jobs.3. For interest during construction state the interest rate used. The basic charges to which applied, in addition to the

amounts capitalized for the year for which this report is submitted.

1. Engineering covers inspection of work order construction done by Force Account with Cooperative personnel.

2. Engineering Overheads as listed above cover only those items that are not chargable to specific jobs.

3. No interest charged to construction.

ELECTRIC DISTRIBUTION METERS AND LINE TRANSFORMERS

1. Report below the information called for concerning distribution watt-hur meters and line transformers.2. Watt-hour demand distribution meters should be included below but external demand meters should not be included.3. Show in a footnote the number of distribution watt-hour meters or line transformers held by the respondent under lease

from other, jointly owned with others, or held otherwise that by reason of sole ownership by the respondent. If 500 or moremeters or line transformers are held under a lease, give name of lesser, date and period of lease and annual rent. If 500 or moremeters or line transformers are held other than by reason of sole ownership or lease, five name of co-owner or other party,explain basis of accounting for expenses between the parties, and state amounts and accounts affected in respondent’s booksof account. Specify in each case whether lesser, co-owner or other party is an assoiciated company.

LINE TRANSFORMERS

Line ItemNo. (a)

1 Number at beginning of year2 Additions during year3 Purchases4 Associated with utility plant acquired5 Total additions6 Reductions during year7 Retirement8 Associated with utility plant sold9 Total reductions

10 Number at end of year11 In stock12 Locked meters on customers’ premises13 Inactive transformers on system14 In customers’ use15 In company’s use16 Total end of year (as above)

Number of watt-hourmeters

(b)14,384

1,9570

1,957

-1,1690

-1,16917,510

1,586

15,88440

17,510

Number Total capacity (kva)(c) (d)

14,874 287,294.85

2360

236

000

15,110475

14,59540

15,110

7,865.000.00

7,865.00

0.000.000.00

295,159.8524,599.00

269,682.05878.80

295,159.85

NOTE:Line 1 l(a) EstimatedLine 14(c) EstimatedLine 14(d) Estimated

VERIFICATION

The foregoing report must be verified by the oath of the office having control of the accounting of therespondent. The oath required may be taken before any person authorized to administer an oath by the lawsof the State in which the same is taken.

OATH

State of New Mexico

County of Curry

)))

Suzette Howard makes oath and says that she is Accounting Manager(Insert here the name of the affiant) (Insert here the offical title of the affiant)

of Farmers’ Electric Cooperative, Inc. of New Mexico(Insert here the exact legal title of name of the respondent)

that it is her duty to have supervision over the books of account of the respondent and that to the best ofher knowledge and belief such books have, during the period covered by the foregoing report, been keptin good fatih in accordance with the accounting and other orders of the New Mexico Public RegulationCommission, effective during said period, that has examined the said report, and to the best of herknowledge and belief the information contained in the said report is, insofar as it relates to matters ofaccount, in accordance with the said books of account; that he believes that all other statements of factcontained in the said report are true, and that the said report is correct statement of the business andaffairs of the above-named respondent in respect to each and every matter set forth

therein during the period from and including

to and including

January 1, 2018

December 31, 2018

(Signature of Affiant)

Subscribed and sworn to before me, a Notary Public , is and for the State and

30 "~ day of April, 2019

New Mexico Jurisdictional InformationYear Ending December 31, 2018

Form 1

Electric Company Name: Farmers’ Electdc Cooperative, Inc. of New Mexico

Address:

Phone Number:

3701 N. Thornton, P. O. Box 550, Clovis, NM 88102

(575) 762-4466.

Person completing form: Suzette Howard, Accountin(~ Manaqer

Customer Class

Number of Consumers

KWH Sales (Thousands)

Gross Revenues

Av9. Annual KWH per Customer (1)

Av9. Annual Bill per Customer (2)

AVG MONTHLY BILL per CUSTOMER (3)

AVG GROSS REVENUE per KWH SOLD (4)

Residential

9,841

94,442

$10,970,283

9,597

$1,114.73

$92.89

$0.11616

Other

3,371

286,455

$26,258,126

84,978

$7,789.61

$649.13

$0.09167

Total

13,212

380,896

$37,228,409

28,829

$2,817.75

$234.81

$0.09774

Directions for the completion of (1), (2), (3), (4):(1) Divide KWH sales by number of customers.(2) Divide gross revenues by number of customers(3) Divide (2) by 12 months(4) Divide gross revenues by KWH sales

NMPRC Rule 510 1 Effective 01101/89

According to tire Paperwork Reduction Act of ] 995, m~ agency may not conduct or sponsor, and a pe~’son is not required to respond to. a collection of i~formatkm unless it displays a valid OMBcontrol number. The valid OMB control number for’ this information collection is 0572-0032. The time required to complete this infom~ation collection is estimated to average 15 hours perresponse, including the time for reviewing insla’uctions, searching existing data sources, gathering and maintaining the data needed~ and completing and reviewing the collection of reformation.

UNITED STATES DEPARTMENT OF AGRICULTURE BORROWER DESIGNATIONRURAL UTILITIES SERVICE NM0 0 0 9

FINANCIAL AND OPEI~%TING REPORT PERIOD ENDED December, 2018 (Prepared with Audited Data)

ELECTRIC DISTRIBUTION BORROWER NAME Farmers’ Electric Cooperative, Inc. of New Me~~STRUCTIONS - See help in the online application.I’bis intbrmation is analyzed and used to determine the submitter’s financial situation and feasibility for loans and guarantees. You are required by contract and applicable~cgulations to provide the intbrmation. The information provided is subject to the Freedom of Information Act (5 U.S.C. 552)

CERTIFICATION

We recognize that statements contained herein concern a matter within the jurisdiction of an agency of the United States and the making of afalse, fictitious or fraudulent statement may render the maker subject to prosecution under Title 18, United States Code Section 1001.

We hereby certi~ that the entries in this report are in accordance with the accounts and other recordsof the system and reflect the status of the system to the best of our knowledge and belier:

ALL INSUILANCE REQUIRED BY PART 1788 OF 7 CFR CHAPTER X%TI, RUS, WAS IN FORCE DURING THE REPORTINGPERIOD AND RENEWALS HAVE BEEN OBTAINED FOR ALL POLICIES DURING THE PERIOD COVERED

BY THIS REPORT PURSUANT TO PART 1718 OF 7 CFR CIIAPTER XVII(check one of the following)

[] All of the obligations under the RUS loan documentshave been thlfilled in all material respects.

Lance Adkins 3/21/2019

[] There has been a delhult in the fulfillment of the obligationsunder the RUS loan documents. Said default(s) is/arespecifically described in Part D of this report.

DATE

ITEM

Operating Revenue and Patronage Capital2. Power Production Expense3. Cost of Purchased Power4. Transmission Expense

5. Regional Market Expense6. Distribution Expense-Operation7. Distribution Expense-Maintenance

8. Customer Accounts Expense9. Ct,stomer Service and Informational Expense10. Sales ExpenseI. Administrative and Ganeral Expense

12. Total Operation & Maintenance I~xpense (2 thru 11)13 Depreciation and Amortization Expense

14. Tax Expense - Property & Gross Receipts15. Tax Expense - Other16. Interest on Long-Term Debt

17. Interest Charged to Construction - Credit18. Interest Expense - Other

19. Other Deductions20. Total Cost of Electric Service (12 thru 19)2 I. Patronage Capital & Operating Margins (1 minus 20)22. Non Operating Margins - Interest

23. Allowance tbr Funds Used During Construction24. Income ~Loss) from Equity Investments25. Non Operating Margins - Other26 Generation and Transmission Capital Credits

27. Other Capital Credits and Patronage Dividends

28. Extraordina~’ Items29. Patronage Capital or Margins (21 thru 28)

RUS Financial and Operating Report Electric Distribution

PART A. STATEMENT OF OPEILATIONSYEAR-TO-DATE

LAST ~EAR

35,188,594

THIS YEAR

37,071,826

BUDGET

35,491,230

TillS MONTII

2,522,886

20,602,047 21,654,899 21,261,572 1,544,864

158,330 159,686 169,306 21,271

2,393,682 2,407,937 2,631,937 212,267

1,474,480 1,534,393 1,775,395 122,650

1,518,095 1,390,831 1,507,388 179,576

235,112 235,015 245,418 17,084

42,087 40,291 39,037 4,879

1,272,150 1,342,483 1,303,639 100,569

27,695,983 28,765,535 28,933,692 2,203,160

3,211,994 3,291,005 3,371,341 279,611

2,110,839 2,137,590 2,200,935 195,597

3,246 3,737 0 335

70,628 74,007 71,551 5,295

33,092,690 34,271,874 34,576,919 2,683,998

2,095,904 2,799,952 914,311 (161,112)

684,096 771,786 561,373 150,082

944,168 330,275 730,076 (156,685)

20,885 12,511 0 0

112,944 132,812 72,717 0

3,857,997 4,047,336 2,278,477 (167,715)

Revision Date2014

[~ITED STATES DEPARTMENT OF AGRICULTURERUR.&L UTILITIES SERVICE

FINANCIAL AND OPERATING REPORTELECTRIC DISTRIBUTION

1NSTRIICTIONS - See help in the online application.

BORROWER DESIGNATION

NN0009

PERIOD ENDEDDecember,2018

2.

3.

4.

ITEM

New Services Connected

Services Retired

Total Services in Place

Idle Servicesl Exclude Seasonals)

PART B. DATA ON" TRANSMISSION AND DISTRIBUTION PLANTYEAR-TO-DATE

LAST YEAR THIS YEAR

142

34

15,546

2,117

ASSETS AND OTHER DEBITSI. Total Utili~" Plant in Service2. Construction Work in Progress3. Total Utili~" Plant (I + 2)4. Accum. Provision for Depreciation and Amort.

5. Net Utility Plant (3 - 4)6. Non-Utilit}; Properg,’ (Net)7. Investments in Subsidia7 Companies8. hwest, in Assoc. Or~. - Patronage Capital9. Invest. in Assoc. Or~. - Other - General FundsI 0. Invest. in Assoc. Org. - Other - Nongeneral FundsI I. Investments in Economic Development Projects12. Other Investments13. Special Funds

Total Other Property & Investments14.(6 thru 13)

Cash - General Funds15.

16. Cash - Construction Funds - Trustee

17. Special Deposits18. Temporary Investments19. Notes Receivable (Net)20. Accounts Recewab~e - Sales of Energy (Net)21. Accounts Receivable - Other (Net)22. Renewable Energy Credits

23. Materials and Supplies - Electric & ()ther

24. Prepa},ments25. Other Current and Accrued Assets

Total Current and Accrued Assets26.(15 thru 25)

27. Regulator3, Assets28. Other Deterred Debits

Total Assets and Other Debits29.0+14+26 thru 28)

139

26

15,659

2,140

ITEM

5. Miles Transmission6. Miles Distribution -

Overhead7. Miles Distribution -

Underground

8. Total Miles Energized(5+6+7)

PART C. BALANCE SHEET

121,026,652 30.5,195,892 31.

126,222,544 32.43,186,610 33.

83,035,934 34.

0 35.o 36.

889,892 37.9,357,742 38.

751,521 39.0 40.

1,024,103 41.0 42.

12,023,258 43.

400,291 44.

0 45.

170 46.12,303,006 47.

0 48.3,292,565

49.(14,994)

0 50.

3,163,921 51.

259,160 52.911,572 53.

20,315,691 54.

0 55.1,343,767 56.

116,718,650 57.

YEAR-TO-DATELAST YEAR

267.10

3,855.57

189.92

4,312.59

LIABILITIES AND OTHER CREDITSMembershipsPatronage CapitalOperatin~ Mar{gins - Prior YearsOperating Margins - Current Year

Non-Operating Margins

Other Marl~ins and EquitiesTotal Margins & Equities (30 thru 35)

Long-Term Debt - RUS (Net)Lone-Term Debt - FFB - RUS GuaranteedLong-Tem~ Debt - Other - RUS GuaranteedLon~-Tenn Debt Other ~et)Lone-Term Debt - R[JS - Econ. Devel. (Net)Payments - Unappl

Total Long-Term Debt(37 thru 41 - 42)

Obligations Under Capitol Leases - NoncurrentAccumulated Operating Provisionsand Asset Retirement Oblisations

Total Other Noncurrent Liabilities (44 + 4~)

Notes PayableAccounts Payable

Consumers Deposits

Current Maturities Lon~-Term DebtCurrent Maturities Long-Term Debt- Economic DevelopmentCurrent Maturities Capital LeasesOther Current and Accrued Liabilities

Total Current & Accrued Liabilities(47 thru 53)

Regulator’ LiabilitiesOther Deterred Credits

Total Liabilities and Other Credits(36 + 43 + 46 + 54 thru 56)

THIS YEAR

267.1C

3,887.2£

191.68

4,346.07

44,920,

3,578,45~

468,883

3,650,394

52,618,22[

48,058,76~

13,493,88!

8,641,33(

52,911,32(

3,810,70’

211,48:

2,633, OOI

2,515,50:

116,718,65(

RUS Financial and Operating Report Electric Distribution Revision Date 2014

UNITED STATES DEPARTMENT OF AGRICULTURERURAL UTILITIES SERVICE


INSTRUCTIONS - See help in the online application.


NM0009

PERIOD ENDEDDecember, 2018

PART D. NOTES TO FINANCIAL STATEMENTS

The Cooperative currently purchases its wholesale power requirements from Xcel Energy. In 2010, theof Western Farmers Electric Cooperative, Inc. (WFEC) in Anadarko, Oklahoma. The Cooperative has bWFEC to supply power to them. The Cooperative began receiving power supplies from this source in Jtagreements also contain provisions related to equity requirements and other responsibilities that the Co,NMPRC approval obtained in 2011, the Cooperative is recovering the equity contributions being paid torecovery factor mechanism.

Part A Line 25 contains the equity contributions collectedthrough the monthly power costs recovery mechanism.

Part C Line 9 contains the equity contributions paid to WFEC.

Part C Line 20 - Unbilled revenue included.

C(

in~

)p





NM0009

PERIOD ENDED ’December, 2018

PART D. CERTIFICATION LOAN DEFAULT NOTES


FINANCIAL AND OPERATING IREPORTELECTRIC DISTRIBUTION

XlSTRUCTIONS - See help in the online application.

PLANT ITEM

BORROWER DESIGNATION NN0009

~ERIOD ENDEDDecember, 2018

Distribution PlantGeneral PlantHeadquarters Plant

Intangibles

Transmission PlantRegional Transmission and MarketOperation Plant

All Other UtilitT PlantTotal Utility Plant in Sere’ice (1 thru 7)

Construction Work in Progress

Total Utility Plant (8 + 9)

ITEM

ElectricOther

BALANCEBEGINNING OF YEAR

1,497,900

13,713

ITEM

PART E. CHANGES IN UTILITY PLANTBALANCE

BEGINNING OF YEAR

93,834,5677,078,806i

2,727,8711

13,503,464

o

i17,144,708

4,281,495

121,426,203

ADDITIONS

6,344,412730,930

451,025

7,526,367

914,397

8,440,764

RETIREMENTS

3,014,810

266,538!

363,077

3,644,425

3,644,425PART F. MATERIALS ,AND SUPPLIES

PURCHASED SALVAGED USED (NET)

2,633,813 157,755 1,133,609

1,246 0 469

PART G. SERVICE INTERR[~TIONS

SOLD

2,989

3,560

ADJUSTMENTS ANDTRANSFERS

ADJUSTMENT

121

BALANCEEND OF YEAR

97,164, 16!

7,543, 19~

2,727, 87’~

13,591,41;

121,026,651

5,195,89;

126,222,54;

BALANCEEND OF YEAR

3,152,99

10,93

Present YearFive-Year Average

POWER SUPPLIER

Number of Full Time EmployeesEmployee - Hours Worked - Regular TimeEmployee - Hours Worked - Overtime

ITEM

Capital Credits - Distributions

0.000

Capital Credits - Received

Amount Due Over 60 Days

AVERAGE MINUTES PER CONSIiMER BY CAUSE

MAJOR EVENT PI,ANNED ALL OTHER

79.650


(b) (c).209 0.000

.012 .909 .006PART H. EMPLOYEE-tlOUR AND PA%TROLL STATISTICS

57 4. Payroll- Expensed106,188 Payroll-Capitalized

4,770 Payroll - Other

PART L PATRONAGE CAPITAL

156.740

TOTAI~

79.859 .....

157.667

2,377,929

567,141

666,354

DESCRIPTION

~. General Retirements

~. Special Retirements

e. Total Retirements (a + b)a. Cash Received From Retirement of Patronage Capital by

Sup#icrs of Electric Power[~. Cash Received From Retirement of Patronage Capital by

Lenders for Credit Extended to the Electric System~. Total Cash Received (a + b)

PART J, DUE FROM CONSUMERS FOR ELECTRIC SERVICE

I$ 96,967 12. Amount Written OffDurin$ Year

THIS YEAR

1,458,048

29,376

1,487,424

37,409

37,409

CUMULATI~

22,901,466

480,493

23,381,959

is 38,426

S

Revision Date 201:~:



INSTRUCTIONS - See help in the online application


NM0009


No ITEM

1 Xcel Energy2 Western Farmers

Elec Coop, lncIo~:o032/

3 Western Area PowerAdmin

4 *ResidentialRenewable SupplierTotal

SUPPLIERCODE

80033220447

27000

700200

PART K. kWh PURCHASED AND TOTAL COSTRENEWABLE

ENERGYPROGRAM

NAME

RENEWABLEFUELTYPE

kwhPURCHASED

185~531~290216,869,958

0

236,147

402,637,395

TOTALCOST

12r656r4278,697,666

280,547

20,260

21,654,900

AVERAGECOST

(Cents/kWh)

6.824.01

0.00

8.58

5.38

INCLUDED INTOTALCOST-

FUELCOSTADJUSTMENT

INCLUDED INTOTAL COST -

WHEELINGAND OTHERCHARGES

UNITED STATES DEPARTMENT OF AGRICULTURE BORROWER DESIGNATIONRURAL UTILITIES SERVICE

FINANCIAL AND OPERATING REPORT NM0009ELECTRIC DISTRIBUTION

INSTRUCTIONS - See help in the online application PERIOD ENDEDDecember, 2018

PART K. kwh PURCItASED AND TOTAL COSTNo Comments

I





NM0009


No NAME OF LESSOR

1 Rimrock Ranch2 Stanley Owen

TOTAL

PART L. LONG-TERM LEASESTYPE OF PROPERTY

Real EstateReal Estate

RENTALTHISYEAR

400400800

UNITED S’rA’rES DEPAR I’MENT OF AGRICULTURE BORROWER DESIGNATIONRUR~L UTILITIES SERVICE NN0 0 0 9

FINANCIAL AND OPERATING REPORT PERIOD ENDEDELECTRIC DISTRIBUTION December, 2018INSTRUCTIONS - See help in the online application.

PART M. ANNUAL MEETING AND BOARD DATAI. Date of Last Annual Meeting 2, Total Number of Members 3. Number of Members Present at Meeting 4. Was Quorum Present?

515/2018 7,135 201 Y

5. Number of Members Voting 6. Total Number of Board Members 7. Total Amount of Fees and Expenses 8. Does Manager Haveby Proxy or Mail for Board Members Written Contract’?

0 7 $ 60,196 N

RUS Financial and Operating Report Electric Distribution Revision Date 201 ffi





NM0009


No ITEMPART N. LONG-TERM DEBT AND DEBT SERVICE REQUIREMENTS

1 Rural Utilities Service (Excludes RUS -Economic Development Loans)

2 National Rural Utilities Cooperative FinanceCorporation

3 CoBankr ACB4 Federal Financin,R Bank5 RUS - Economic Development Loans6 Payments Unapplied7 Principal Payments Received from Ultimate

Recipients oflRP Loans8 Principal Payments Received from Ultimate

Recipients of REDL Loans9 Principal Payments Received from Ultimate

Recipients of EE LoansTOTAL

BALANCEEND OFYEAR

12,711,735

782,154

48r058r761

8,641r330i

52,911,320

INTEREST(Billed This Year)

~b)

500,259

32r9321~604~399

2,137,590

PRINCIPAL(Billed This Year)

1,106,689

213,841lr235r752

2~556,282

TOTAL(Billed This Year)

1,606,948

246r7732r 840r 151

4~693~872

UNITED STATES DEPARTMENT OF AGRICULTU~RUR&L UTILITIES SERVICE

FINANCIAL AND OPEI, L~.TING REPORTELECTRIC DISTRIBiiTION

1NSTRUCTI()NS - See help in the online application.

CI.,ASSIFICATION

Residential Sales (excludingseasonal)

2. Residential Sales - Seasonal

BORROWER DESIGNATIONNM0009

Irrigation Sales


4. Comm. and Ind. 1000 KVA or Less

5. Comm. and Ind. Over 1000 KVA

6, Public Street & Highway Lighting

7. Other Sales to Public Authorities

8. Sales tbr Resale - RUS Borrowers

9. Sales for Resale - Other

10.

!1.12.

13.14.15.

16.17.18.

19.20.

Total No. of Consumers (lines la thru

Total kwh Sold (lines lb thru 9b)Total Revenue Received From Sales ofElectric Energy (lines’ lc thru 9c)

Transmission Revenue

Other Electric RevenuekWh - Own Use

Total kWh PurchasedTotal kWh GeneratedCost of Purchases and GenerationInterchange - kWh - Net

Peak - Sum All kW Input IMetered)Non-coincident___ Coincident X

CONSUMER SALES &REVENUE DATA


PART O. POWER REQUIREMENTS DATABASE - ANNUAL SUMMARY

I AYERAGE NO.DECEMBER CONSUMERS SERYED

7,740 7,714No. Consumers Served

kWh Sold

Revenue

No. Consumers Served

kWh Sold

Revenue


kWh Sold

Revenue


kwh Sold

Revenue


kWh Sold

Revenue


kWh Sold

Revenue


k\r~ Sold

Revenue


kWh Sold

Revenue

No, Consumers Served

kWh Sold

Revenue

9a)

TOTALYEAR TO DATE

(613,104)

(129,598)

380,896,104

37,001,748

0

70,078

577,273

402,637,395

0

21,814,585

0

70,174

Revision Date 201[~]



INSTRUCTIONS - See help in tile online application.



CLASSIFICATION

1. Residential Sales (excluding seasonal)

2. Residential Sales- Seasonal3. Irrigation Sales4. Comm. trod Ind. 1000 KVA or Less5. Comm. and Ind. Over 1000 KVA6. Public Street and Highway I.ighting

7. Other Sales to Public Authorities8. Sales for Resale- RUS Borrowers9. Sales for Resale - Other

10. Total

PART P. ENERGY EFFICIENCY PROGRAMSADDED THIS YEAR

No. ofConsumers

4~

AmountInvested

32,076

EstimatedMMBTU Savings

302

No. ofConsumers

404

TOTAL TO DATEAmountInvested

(0347,282

EstimatedMM BTU Savings

3,045


45 32,076 302 404 347,282 3,045

Revision Date 201~]

UNITED STATES DEPARTMENT OF AGRICULTURE BORROWER DESIGNATIONRURAL UTILITIES SERVICE NM0009

FINANCIAL AND OPERATING REPORTELECTRIC DISTRIBUTION PERIOD ENDED

INVESTMENTS, LOAN GUARANTEES AND LOANS December, 2018

INSTRUCTIONS - Reporting of investments is required by 7 CFR 1717, Subpart N. Investment categories reported on this Part correspond to Balance Sheet items in PartC. Identify all investments in Rural Development with an ’X’ in column (e). Both ’Included’ and ’Excluded’ Investments must be reported. See help in the online, application.

PART Q. SECTION I. INVESTMENTS {See Instructions for definitions of Income or Loss)No DESCRIPTION INCLUDED EXCLUDED INCOME OR LOSS

2 Investments in Associated OrganizationsCFCCoBank

CFC - Capital Term InvestmentsWFEC EquityWFEC PowerAssociated Assn’s - VariousRoosevelt County Telephone CooperativeSoutheastern Data CooperativeEastern New Mexico Telephone CooperativeTotals

4 Other InvestmentsHomestead Mutual FundsTotals

6 Cash - GeneralNM Bank & Trust Special ConstructionCitizens - Ft SumnerFirst National Bank ofNM - LoganWells Fargo - Santa RosaNew Mexico Bank & TrustTotals

7 Special DepositsSpecial DepositsTotals

8 Temporary InvestmentsCFC - Medium Term Notes

CFC - Commericial PaperCFC Daily FundMerrill Lynch - Cash Management AccountTotals

9 Accounts and Notes Receivable - NETNotes Receivable

Accounts Receivable OtherTotals

I ! TOTAL INVESTMENTS (1 thru 10)

($)

306,703

12r486115~12563r164

497r478

1~024,103lr024,103

157~090

3r939lr165

41r212196,885400r291

170

170

(14,994)(14,994)

1,907,048

($)

269,48519,094

751,5219~348,646

112,933

10r501,679

3,000,0009r200,000

103,006

12,303r006

22,804,685

($)(d)

RURALDEVELOPMENT




INVESTMENTS, LOAN GUARANTEES AND LOANS


INSTRUCTIONS - Reporting of investments is required by 7 CFR 1717, Subpart N. Investment categories reported on this Part correspond to Balance Sheet items in PartC. Identify all iuvestments in Rural Development with an ’X’ in column (e). Both ’Included’ and ’Excluded’ Investments must be reported. See help iu the onlineapplication.

No ORGANIZATION

TOTALTOTAL (Included Loan Guarantees Only)

PART Q. SECTION II. LOAN GUARANTEESMATURITY DATE ORIGINAL AMOUNT

($){b) (c)

LOAN BALANCE RURALDEVELOPMENT




INVESTMENTS, LOAN GUARANTEES AND LOANSPERIOD ENDED

December, 2018

INSTRUCTIONS, Reporting of investments is required by 7 CFR 1717, Subpart N. Investment categories reported on this Part correspond to Balance Sheet items in PartC. Identify all investments in Rural Development with an ’X’ in column (e). Both ’Included’ and ’Excluded’ Investments must be reported. See help in the onlineapplication.

SECTION III. RATIORATIO OF INVESTMENTS AND LOAN GUARANTEES TO UTILITY PLANT[Total oflncluded Investments (Section I, 1 lb) and Loan Guarantees - Loan Balance (Section II, 5d) to Total Utility Plant (Line 3, PartC) of this report]

SECTION IV. LOANSNo ORGANIZATION MATURITY DATE ORIGINAL AMOUNT LOAN BALANCE

($) ($)(a) (b) (c) {d)

TOTAL

1.51%

RURALDEVELOPMENT

DESCRIPTION

FARMERS’ ELECTRIC COOPERATIVE, INC. OF NEW MEXICOSchedule for NMPRC Rule 17.3.510.12 (B) NMAC

For Fiscal Year Ending December 31, 2018

2018

A. REVENUEB. EARNINGS - INTERESTC. RETURN ON EQUITY(OR MARGIN)D. AMOUNT OF DEBT

AVERAGE COST OF DEBTE. CAPITAL STRUCTUREF. GENERATIONG. TRANSMISSION & SUB-TRANSMISSIONH. DISTRIBUTION PLANTI. OPERATATION & MAINT EXP

PURCHASED POWER EXPENSEJ. DEFERRED TAX RESERVESK. PEAK DEMANDL. NET ENERGY SALES (KWH)

$37,071,826$2,799,951

3.18%$55,544,320

3.85%48.65%

NONE$13,591,413$97,164,168$7,110,636

$21,654,899NONE

70,174380,896,104

C: RETURN ON EQUITY CALCULATIONS:OVER ALL RETURN $2,799,951 +

RETURN ON DEBT $2,137,590 /

RETURN ON EQUITY 5.60% -

$2,137,590 /

$88,130,284 =

2.43% =

$88,130,284 = 5.60%

2.43%

3.18%

RATE BASE CALCULATIONS:NET UTILITY PLANTMATERIAL & SUPPLIESPREPAYMENTSWORKING CAPITALTOTAL RATE BASE*

$83,035,9343,163,921

259,1601,671,269

$88,130,284

WORKING CAPITAL CALCALUTIONS:ALL EXPENSES EXCEPT INTEREST ON LONG TERM DEBTLESS: COST OF PURCHASED POWERBALANCE

$32,134,285-$21,654,899$10,479,386

1/8 OF BALANCE1~00FPURCHASED POWPETTY CASHTOTAL WORKING CAPITAL

$10,479,386 X 0.12500 =$21,654,899 X 0.01666 =

$1,309,923$360,771

$575$1,671,269

D: AVERAGE COST OF DEBT:INTEREST ON LONG TERM DEBT DIVIDED BY LONG TERM DEBT.

$2,137,590 / $55,544,320 = 3.85%

CAPITAL STRUCTURENET WORTH TO LONG-TERM DEBT PLUS NET WORTH RATIO:TOTAL MARGINS & EQUITIESDIVIDED BY TOTAL DEBT PLUS TOTAL MARGINS & EQUITIES

$52,618,225$108,162,545

48.65%

farmers’ electric cooperative, inc. of new mexico · 2019-08-23 · fec farmers’ electric...

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