The financials of your Public Power District are constantly being reviewed by staff, board members and auditors. These reviews include constant reviews by District staff and monthly reviews at board meetings. There are also thorough audits completed by outside audit team. This audit is also reported to the State of Nebraska. This extensive review process is to ensure the money you pay for electricity is carefully accounted for and spent wisely.
The District is in a solid financial position and continues to see growth. Energy sales, as you can see, have increased for three straight years. Revenue has also increased and that is only due to the increase in energy sales. We have not taken a rate increase in over 4 years. This growth allows us to spread increased costs over more kilowatt hour sales. This growth also helps share in the cost to maintain the electric plant and keep your lights on!
The other side of this financial coin is expenditures. In 2018, 72% of our expenses were the wholesale cost of power. The remaining 18% is managed to serve the customer and that includes maintaining the lines, customer service, administration and payroll. We carefully balance the cost of energy with the level of reliability. We strive to deliver the highest reliability at an affordable cost.
Our staff does a great job accounting for your hard-earned money. I want to thank you for your business and look forward to serving you all for years to come. Hope you had a safe summer!