BARROW UTILITIES & ELECTRIC COOPERATIVE, INC.
BALANCE SHEET
ASSETS		Year		Year
		2004		2003
FIXED ASSETS
ELECTRIC UTILITY PLANT		$           11,221,173		$                11,147,788
NATURAL GAS UTILITY PLANT		1,947,271		1,921,660
WATER UTILITY PLANT		2,397,376		2,397,376
OTHER GENERAL PLANT		8,163,683		8,089,629
CONSTRUCTION WORK IN PROGRESS		1,321,213		652,517
TOTAL FIXED ASSETS		25,050,716		24,208,970
ACCUMULATED PROVISION FOR DEPRECIATION		(8,435,416)		(7,245,551)
NET FIXED ASSETS		16,615,300		16,963,419
OTHER ASSETS & INVESTMENTS
INVESTMENT IN ASSOCIATED ORGANIZATIONS		985,500		944,027
TEMPORARY INVESTMENTS-DEPOSITS		69,127		66,226
TEMPORARY INVESTMENTS-EMERGENCIES		1,172,000		1,172,000
TOTAL OTHER ASSETS & INVESTMENTS		2,226,627		2,182,253
CURRENT ASSETS
CASH-GENERAL FUNDS		283,551		725,239
TEMPORARY INVESTMENTS		104,263		76,283
CONSUMER ACCOUNTS RECEIVABLE		1,104,163		1,176,421
OTHER ACCOUNTS RECEIVABLE		842,070		1,216,143
MATERIALS AND SUPPLIES		863,670		836,108
PREPAYMENTS		7,594		5,975
TOTAL CURRENT ASSETS		3,205,311		4,036,169
DEFERRED DEBITS		1,009,683		1,110,601
TOTAL ASSETS & OTHER DEBITS		$  23,056,921		$      24,292,442
CAPITAL AND LIABILITIES
CAPITAL
MEMBERSHIPS		$                   92,200		$                        90,125
PATRONAGE CAPITAL		10,314,086		10,283,730
OTHER CAPITAL		1,782,421		1,785,937
TOTAL CAPITAL		12,188,707		12,159,792
LONG TERM LIABILITIES
LONG TERM DEBT - OTHER (NET)		8,504,558		9,144,023
POST-EMPLOYMENT BENEFITS		25,848		25,848
TOTAL LONG TERM LIABILITIES		8,530,406		9,169,871
CURRENT LIABILITIES
ACCOUNTS PAYABLE-GENERAL		481,108		476,263
CURRENT MATURITIES OF LONG-TERM DEBT		639,464		611,035
LINE OF CREDIT		-		750,000
OTHER CURRENT LIABILITIES		511,003		489,777
TOTAL CURRENT LIABILITIES		1,631,575		2,327,075
DEFERRED CREDITS
BARROW UTILIDOR SYSTEM RESERVE		455,095		455,095
BUS RESERVE (ARECA PROCEEDS)		181,884		154,274
CUSTOMER ADVANCES		69,254		26,335
TOTAL DEFERRED CREDITS		706,233		635,704
TOTAL CAPITAL & LIABILITIES		$  23,056,921		$      24,292,442
{Copies of the annual audited financial statements are available upon written request.}