June 2012 - New Enterprise REC

COOPERATIVEconnection
New Enterprise
Rural Electric
Cooperative, Inc.
One of 14 electric
cooperatives serving
Pennsylvania and
New Jersey
3596 Brumbaugh Road
P.O. Box 75
New Enterprise, PA 16664-0075
814/766-3221 • 1- 800-270-3177
FAX 814/766-3319
Website:
www.newenterpriserec.com
B O A R D O F D I R EC T O R S
Leroy D. Walls, President
David Bequeath, Vice President
John R. Dively, Secretary
Robert Guyer, Asst. Secretary
Dean Brant, Treasurer
Timothy Newman
Ellis Sollenberger
O F F I CE H O UR S
Monday through Friday
7 a.m. - 3:30 p.m.
E M E R G E N C Y O UT A G E N U MB E R
814/766-3221
1-800-270-3177
F R O M
T H E
M A N A G E R / C E O
Doing the ‘Electric Shift’
IT’S the “Electric Shift” time
again. As we have in the
past, we are asking for your
help again in keeping power
costs as low as possible.
Many of you are familiar with the phrase, Electric Shift. But for those of
you who aren’t, the Electric
Shift is easy and, with a litRick L. Eichelberger
tle practice, allows you to
General Manager & CEO use electricity more wisely.
During hot, humid days of
summer, electric use tends to run
extremely high. This makes the cost of
generation to meet this need also high.
Our future power costs are partially
based on how much power we buy on
hot, sticky weekdays between the hours
of 1 and 6 p.m. This time period is
referred to as the “High Five” hours.
On weekdays or a series of weekdays
when temperatures rise to around 90
degrees and come with high humidity,
Electric Shift messages will be broadcasted on WSKE-FM 104.3 and 1040 AM, as
well as WJAC-TV 6 (Johnstown) during
weather segments of the noon news. A
message may also be placed on our website, www.newenterpriserec.com, during
peak hours.
How can you help? Below are a few
steps you can take to help prevent future
power costs from increasing:
k Set your air conditioners to 78 degrees
or use fans instead.
k Close your curtains and blinds to keep
things cooler inside your home.
k Operate washers, dryers, dishwashers, showers, and other major appliances early in the morning or late in
the evening.
k Minimize the number of times you
must open your refrigerator or freezer.
k Cook with an outdoor grill or a
microwave oven.
k Turn off any non-essential lights.
k Run pool pumps at night.
We need the involvement of many
people to control power costs for everyone. As we work together, we can make
a difference.
So remember, do the Electric Shift
from June 1 to Sept. 30 between 1 and
6 p.m. on hot, humid days. Your help is
greatly appreciated. l
June co-op calendar
June 12 — Annual meeting at the Northern Bedford County High School
June 20 — Disconnect accounts with past due balances (the last day to make payment arrangements is June 18 by contacting Brawna at extension 224)
June 28 — Regular payment and meter reading due date
JUNE 2012 • PENN
LINES
12a
New Enterprise Rural Electric Cooperative, Inc.
Balance
Sheet
Balance Sheet
As of December 31, 2011
December 31, 2011
ASSETS
ASSETS
Current Assets
2011
Cash on hand
Cash in Bank – Demand
Cash in Bank – Certificates of Deposits
Accounts Receivable
Employee Loans
Accrued Interest
Inventory of Materials
Prepaid Insurance
Total Current Assets
$
1,100
373,837
500,000
540,432
807
4,459
268,219
21,196
$1,710,050
2010
$
1,100
495,241
475,000
525,434
2,806
4,625
249,236
21,172
$1,774,614
Property, Plant and Equipment – At Cost
Total Property, Plant and Equipment
Less Accumulated Depreciation
6,156,395
4,143,768
6,045,252
4,096,491
Net Property, Plant and Equipment
2,012,627
1,948,761
$3,722,677
$3,723,375
Total Assets
LIABILITIES AND MEMBERS’ EQUITY
Current Liabilities
Accounts Payable
Accrued Payroll
Customer Deposit
Accrued Taxes
Line of Credit
Total Current Liabilities
$ 277,287
19,203
34,055
6,442
0
$ 280,019
0
33,355
5,391
0
$ 336,987
$
318,765
Members’ Equity
Membership fees
Members’ Equity
Total Members’ Equity
Total Liabilities and Members’ Equity
12b
PENN
LINES • JUNE 2012
16,085
3,369,605
3,385,690
15,685
3,388,925
3,404,610
$3,722,677
$3,723,375
New Enterprise Rural Electric Cooperative, Inc.
Statement
of Income
andand
Members’
Equity
Statement
of Income
Members’
Equity
December
31, 201131, 2011
December
Operating Revenue
Electric Power Sold
Cost of Power
Gross Profit
Other
Total Operating Revenue
2011
2010
$5,183,670
3,180,535
2,003,135
279,256
2,282,391
$5,108,927
3,062,612
2,046,315
230,429
2,276,744
463,712
764,357
159,608
208,053
57,402
197,764
148,020
199
46,652
59,402
49,928
8,926
34,682
33,780
37,544
10,660
23,918
1,549
9,742
444,122
755,051
175,496
189,495
59,026
194,599
133,310
1,149
46,167
59,971
46,826
9,337
23,447
29,810
39,689
10,620
26,753
1,322
17,151
2,315,898
2,263,341
-33,507
13,403
3,597
0
10,590
-19,320
0
12,104
25,507
3,388,925
3,363,418
$3,369,605
$3,388,925
Operating Expense
Line Maintenance
Wages
Depreciation
Insurance
Operation of Trucks
Pension
Office
Engineering/Mapping
Advertising and Meetings
Payroll Taxes
Dues
Other Taxes
Tools
Building Maintenance
Director Fees and Expenses
Legal and Accounting
Other
Disposal Costs
Bad Debts
Total Operating Expenses
,
Net Operating Income
Other Income
Gain on Sale of Assets
Interest Expense
Interest Income
Net Profit
Members’ Equity – Beginning of Year
Members’ Equity – End of Year
Complete financial statements audited by Fiore, Fedeli, Snyder and Carothers are available upon request.
Complete financial statements audited by Fiore, Fedeli, Snyder and Carothers are available upon request.
JUNE 2012 • PENN
LINES
12c
New Enterprise Rural Electric Cooperative, Inc.
KIDZcorner
Benjamin Franklin
When you hear the name of Benjamin Franklin, what do you think of? Like most people, you would think of the famous 1752
kite experiment with lightning, which was conducted to verify a link between electricity and lighting.
However, did you also know he was a writer, inventor, diplomat, businessman, musician, scientist, humorist, civic leader,
international celebrity and, of course, a genius?
Here are a few highlights from the life of Benjamin Franklin:
˝ 1717 — During his youth, Franklin invents swimming fins to be worn on
the hands.
˝ 1718 — Franklin, then 12 years old, is apprenticed to his brother, James,
to learn the printer’s trade.
˝ 1729 — Franklin and a partner buy a newspaper, the Pennsylvania
Gazette. Under Franklin’s leadership, the Pennsylvania Gazette becomes
one of the major newspapers for the colonies. A hundred years after
Franklin’s death, Cyrus Curtis purchased the Pennsylvania Gazette and
turned it into the Saturday Evening Post.
˝ 1732 — Franklin’s highly popular Poor Richard: An Almanack is first
printed; it continues annually for an additional 26 years.
˝ 1736 — Franklin organizes the first volunteer firefighting organization,
the Union Fire Company. Members pay annual dues and are charged
fines for violating the company’s rules. By 1743, the company collects
enough money through fines to purchase a fire engine of its own.
“A penny saved is a penny earned”
˝ 1744 — Franklin publishes a pamphlet to sell the “Pennsylvania Fire-Place,” a new stove design he created.
˝ 1748 — Franklin retires from printing to pursue interests in electricity and other scientific experiments.
˝ 1752 — Franklin undertakes his kite experiment, proving the link between electricity and lightning.
˝ 1752 - The Philadelphia Contributionship, the first mutual fire insurance company in America, is founded by Franklin and
other members of the Union Fire Company.
˝ 1753 — Franklin is appointed as deputy postmaster general for the colonies after serving as appointed postmaster in
Philadelphia in 1737.
˝ 1755 — After working more than five years to help establish the Pennsylvania Hospital to provide medical care for the
poor and mentally ill of Philadelphia, Franklin participates in laying the cornerstone for the hospital on May 28.
˝ 1762 — Franklin’s glass armonica, which he invented while living in England, becomes a popular instrument throughout
Europe.
˝ 1787 — At the age of 81, Franklin is the senior delegate at the Constitutional Convention in Philadelphia. His final speech
to the convention urges unanimous support for the new nation. In signing the constitution, Franklin became the only
founding father to sign all of the country’s major founding documents — the Declaration of Independence, the Treaty of
Paris with England and the United States Constitution.
12d
PENN
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