2021 Annual Report: Celebrating 85 Years of Service

One of three ways:
RSVP
IN YOUR RSVP CARD (INSIDE REPORT)
MAIL
FREE
DINNER
IN-PERSON
& GIFT
Colorado Mesa University
Balance Sheet
Assets
2020 2019
Total Utility Plant $105,367,274 $102,736,201
Less: Accumulated Depreciation (30,115,184) (27,697,431)
Net Utility Plant 75,252,090 75,038,770
Investments 1,914,174 1,792,301
Current Assets 7,528,696 7,925,335
Deferred Charges 1,620,436 785,216
Total Assets $86,315,396 $85,541,622
Equities and Liabilities
Total Equity $31,827,404 $30,611,431
Total Long-Term Debt 43,194,846 45,100,770
Other Liabilities 1,958,571 2,675,967
Current Liabilities 9,334,575 7,153,454
Total Equities and Liabilities $86,315,396 $85,541,622
rates have
not increased
since 2012
Statement of operations
2020 2019
Operating Revenue $32,736,709 $31,717,928
Operating Expenses
Cost of Purchased Power 17,026,771 16,926,082
Operating Expenses - Transmission 64,001 66,011
Operating Expenses - Distribution 2,298,974 2,526,129
Maintenance of Distribution Plant 1,035,504 961,490
Accounting and Collection Expenses 890,367 1,122,482
Other Customer Expenses 437,725 387,650
Administrative and General 2,651,177 2,533,221
Depreciation 2,881,088 2,745,106
Taxes 800,978 708,261
Other Deductions 516,764 269,912
Total Operating Expenses 28,603,349 28,246,344
Electric Operating Margin $4,133,360 $3,471,584
Fixed Charges
Interest on long-term debt 1,827,414 1,860,015
Other interest 706 615
Total fixed charges $1,828,120 $1,860,630
Non-Operating Margin 305,988 295,471
Patronage Capital - Beginning of Year $28,715,515 $27,837,650
Net Margins for Period 2,611,228 1,906,425
Subtotal $31,326,743 $29,744,075
Less Retirement of Capital Credits (1,465,762) (1,028,560)
Patronage Capital - End of Year $29,860,981 $28,715,515
RS V
Notice of Annual Meeting of Members
By order of the Board of Directors of Grand Valley Rural Power
Lines, Inc., notice is hereby given that the annual meeting of the
organization’s shareholders will be held at Colorado Mesa University
Center Meyer Ballroom, Grand Junction, County of Mesa, Colorado
on Thursday August 5, 2021, for the purpose of electing a Board of
Directors as provided by the bylaws and the transaction of all business
which may be properly brought before the annual meeting.
Registration opens at 5:30 p.m. in the Meyer Ballroom of the
University Center of Colorado Mesa University.
The map inset shows the parking garage closest to the event location.
Access to the garage is off 12th Street near Kennedy Avenue. Suggested
travel is south on 12th Street to the garage entrance. FFA students will
be on hand to assist with parking and meeting questions.
Program and Agenda
Thursday, August 5, 2021 | 5:30 p.m. - 8:00 p.m.
A t t e n d f o r a c h a n c e t o w i n
i n d o o r p r i z e d r a w i n g s
over $2,000
5:30 p.m. - 6:30 p.m. Registration, Entertainment and Dinner
6:30 p.m. - 8:00 p.m. Business Meeting
ONLINE AT GVP.ORG/85YEARS
P
CALL 970-242-0040
Order of Business
1. Quorum and shareholder attendance
2. Notice of meeting and proof of publication
3. Approval of 2019 annual meeting minutes
4. CEO and President report
5. Election
6. Unfinished business
7. New business
10 8. Adjournment
11