Dear IVIember, Once again, Petit Jean Electric Cooperative Corporation continued its commitment to member service in a financially responsible manner. Our total margins of $1,134,593 were adequate to meet the requirements of mortgage agreements. Member equity in the system was 38.4 percent at the end of the year. Members were refunded $1,100,000 in cash to redeem patronage capital credits. The 2017 redemption brings the total capital credits refunded to members to $19,160,000. Bolinger, Segars, Gilbert & Moss, LLP audited our financial records. You are welcome to examine that report. System statistics of interest include: average meters served, 19,931, a net increase of 66 meters; more than 3,500 miles of power lines; 275,974,708 kilowatt-hours used by members, down 16,937,867 kilowatt-hours from the previous year; a system peak demand of 85,003 kilowatts, recorded in the month of January; and a net plant valuation of $76,827,799 at year's end. Additional financial data and operations information is available in this annual report. Ifyou have any questions concerning your electric cooperative, we are happy to answer them. ^-^^^ (S/<£^¬t^»- Donnie Collins, President Charles Wood, Secretary-Treasurer Y Annual Meeting Official Notice Notice is hereby given that the Annual Membership Meeting of Petit Jean Electric Cooperative Corporation will be held on Thursday, May 24, 2018, at the headquarters in Clinton, Van Buren County, Arkansas, beginning at 1:00 p.m., for the following purposes: 1. To pass on reports for the previous fiscal year; 2. To elect two directors for the cooperative to serve terms of five years each; and, 3. To transact such other business as may properly come before the meeting. Charles Wood, Secretary-Treasurer Dated at Clinton, Arkansas, this 1st day of May, 2018. PetitJeanElectric Cooperative Corporation Program Bill CorTTne, CEO/General Manager Registration: 12:30 -1:00 p.m. Business Session: 1:00 p.m. This will be a business session only. No attendance prizes will be awarded and there will be no entertainment. 2017 Annual Report PetitJeanElectric Cooperative Corporation
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Dear IVIember,Once again, Petit Jean Electric Cooperative
Corporation continued its commitment to member
service in a financially responsible manner. Our total
margins of $1,134,593 were adequate to meet the
requirements of mortgage agreements. Member
equity in the system was 38.4 percent at the end
of the year. Members were refunded $1,100,000 in
cash to redeem patronage capital credits. The 2017
redemption brings the total capital credits refunded to
members to $19,160,000.
Bolinger, Segars, Gilbert & Moss, LLP audited our
financial records. You are welcome to examine that
report.
System statistics of interest include: average meters
served, 19,931, a net increase of 66 meters; more
than 3,500 miles of power lines; 275,974,708
kilowatt-hours used by members, down 16,937,867
kilowatt-hours from the previous year; a system peakdemand of 85,003 kilowatts, recorded in the month
of January; and a net plant valuation of $76,827,799
at year's end.
Additional financial data and operations information
is available in this annual report. Ifyou have any
questions concerning your electric cooperative, we are
happy to answer them.
^-^^^ (S/<£^¬t^»-Donnie Collins, President
Charles Wood, Secretary-Treasurer
Y
Annual Meeting Official NoticeNotice is hereby given that the Annual Membership
Meeting of Petit Jean Electric Cooperative
Corporation will be held on Thursday, May 24,
2018, at the headquarters in Clinton, Van Buren
County, Arkansas, beginning at 1:00 p.m., for the
following purposes:
1. To pass on reports for the previous fiscal year;
2. To elect two directors for the cooperative to
serve terms of five years each; and,
3. To transact such other business as may properlycome before the meeting.
No attendance prizes will be awarded and there will beno entertainment.
2017 Annual Report
PetitJeanElectricCooperative Corporation
THE POWER TO SERVEPetit Jean Electric Cooperative is muchmore than just the "local electriccompany." The cooperative businessmodel centers around seven principles:voluntary and open membership;democratic member control; members'economlc partlclpation; autonomyand independence; education,training and information; cooperationamong cooperatives; and concern forcommunity. These principles guide PetitJean Electric Cooperative and the state'sother electric cooperatives. As a not-for-profit business, Petit Jean ElectricCooperative is motivated to serve localmembers, not out-of-state stockholders.
The Power to Serve Your HomePetit Jean Electric Cooperative is committed to
promoting the efficient use of electricity to meetthe growing energy requirements of members.Educating members about the efficient useof energy resources helps members manageenergy costs and helps protect naturalresources. A comprehensive resource list isavailable at www.smartenergytips.org. Our goal isto help members save money without sacrificingcomfort or convenience.
The Power to Serve As Your VoiceOur business model has guided Petit JeanElectric Cooperative through many years of growthand change. And, since the formation ofyour localelectric cooperative, we have worked as advocates
for our members. Petit Jean Electric Cooperativeknows this is more important than ever as we worktogether to provide you with reliable, affordableelectricity in a responsible manner.
The Power to Serve Your CommunityMore than 75 years ago, the Arkansas' electriccooperatives took on a great challenge to notjust bein the business of electricity, but to serve the greaterpurpose of making lives and communities better.Petit Jean Electric Cooperative sponsors communityfundraising and assists with economic developmentand service events, while employees devote hundredsof volunteer hours to projects.
The Power to Serve Your Farm and BusinessPetit Jean Electric Cooperative works with newand existing businesses to support economic
opportunities and improve the qualityof life throughout its service area. PetitJean Electric Cooperative's directors andemployees serve as advocates for thefarms and businesses with their local,state and federal officials.
The Power to Serve Youth ProgramsAECC heips prepare today's youth forleadership by partnering with 4-H andFFA, and sponsoring the Washington,D.C. Youth Tour and STEM-orientededucational programs.
The Power to Serve ArkansasCollectively, Arkansas' local electric
cooperatives represent the largest private businessin Arkansas and serve more than 1.2 millionmembers. This success is powered by boardmembers and employees who understand andimplement the member-owned business model whichallows them to focus on serving the needs of theirmembers. This mission and structure is the essenceand lifeblood ofthe electric cooperative businessmodel and community. Employees of Petit JeanElectric Cooperative are your friends and neighbors,and your local energy partners.
PetitJeanElectricCooperative Corporation
PetitJeanElectricCooperative Corporation
2017 Annual ReportPetit Jean Electric Cooperative CorporationREVENUE AND EXPENSE STATEMENr As of December 31
REVENUES
jEjectric energy salesOther electric revenue
$29,355,850 $29,936,037 $30,408,208677,961
Total Qperating Revenue579,504 374,983
$30,033,811 $30,515,541 $30,783,191
EXPENSESPurchased powerInterest on debt to RUS / CFC / COBANKDepreciation / amortization
Other deferred credits and accrued liabilities1,353,999
Total Liabilities2,777,120
1,276,1481,658,081
1,187,2371,954,597
$59,385,310 $51,377,181 $54,467,966
MEMBERS' EQUITY^4embershipsTptal current year margins
$309,775 $308,345 $306,335
Patronage capital1,134,593 1,546,800 1,524,069
Other equities35,063,579 34,616,008 34,236,489
Total Margins & Equities526,169 762,803 326,502
Total Liabilities & Equities$37,034,116 $37,233,956 $36,393,395$96,419,426 $88,611,137 $90,861,361
^ As reported to Rura! Development Electric Programs
THE REVENUE DOLLAR As of December 31
f
OFFICERS&DIREGT^RS
Donnie Collins
President
Carrol D. Bradford
Vice President
Charles Wood
Secretary-Treasurer
Darrell Allen
Director
Jerel H. Brown...^iiSi
Director ^^::iSS
Richard Co///ns;./n fD/rector ::i.::"i',::i|||
William F. "Bill" Derickson
Director
Fred Herman
Director
Terry Kirkendoll
Director
Bill Conine
CEO/General Manager
3—
"
HOWITWASEARNEDFarm / residential
industrialOther sales to public authoritiesStreet/highwaylightingOther electric revenue
Total
HOW IT WAS USEDPower costInterestOperation / maintenance / transmissionDepreciation / amortizationAdministrative / generalCpnsumer accounting / collecting / informationTaxesMiscellaneousOperating margins
Total
SYSTEM STATISTICS As of December 31
ItemAverage number of meters bi[ted_per rnonthAverage number of meters per mile of lineAverage miles of power line in operation
it by cooperative membersAverage monthly kWh usage by all membersAverage monthly farm / home kWh usage^
Ayerage mpnthlYreyenue per member billedAverage revenue per KWh sold to members *Ayerage revenue per farm / home kWh sold *Average power cost adjustment per kWh sold
Total kWh bought by cooperativeTotal cost of power bought tiy_cooperatsve_Average cost per kWh bought by cooperativePpwer (kWh) required for system operationSystem peak demand (kW)Month of system peak demand
Total capital borrowed from RUS / CFC / COBANJ'<_ $104,070,687 $93,870,687 $87,212,652Total amount repaid to RUS / CFC / COBANK $51,222,704 $49,306,667 $40,781,836Total interest paid to RUS / CFC / COBANK $55,336,889 $53,438,532 $51,532,502
Counties served and property taxes_paid^Cleburne $8,700 $8,616 $8,744Conway 61,148 60,709 60,029Faulkner 47,198 46,869 44,709Marion 562 560 555NewtonPope
4,345 4,317 4,3769,347 9,310
Searcy9,309
166,561 161,933 160,250StoneVan Buren
3,704 3,692 3,644317,151 313,443 310,607
Total property taxes paid $618,716 $609,449 $602,223Other taxes paid by the cooperative 1,460 1,460 1,450Taxes accrued 10,000 7,761Other tax expense