BARROW UTILITIES & ELECTRIC COOPERATIVE, INC.
STATEMENT OF OPERATIONS
For the Years Ended December 31, 2004 & 2003
		Year		Year
		2004		2003
OPERATING REVENUE
ELECTRIC SERVICES		$             3,879,198		$                  3,914,331
NATURAL GAS SERVICES		1,607,571		1,618,613
POTABLE WATER SERVICES		1,290,023		1,279,014
BARROW UTILIDOR SYSTEM, WATER REVENUE		3,267,626		3,184,685
BARROW UTILIDOR SYSTEM, SEWER REVENUE		2,196,737		1,729,612
TOTAL OPERATING REVENUE		12,241,155		11,726,255
OPERATING EXPENSES
COST OF FUEL - GENERATION		696,428		651,544
COST OF FUEL - HEATING		632,811		564,033
COST OF PURCHASED WATER, BUS SYSTEM		1,082,178		1,104,520
OPERATIONS & MAINTENANCE:
ELECTRIC PRODUCTION		629,163		666,354
ELECTRIC DISTRIBUTION		455,730		450,629
NATURAL GAS DISTRIBUTION		314,922		319,329
POTABLE WATER PRODUCTION		648,806		696,782
BUS WATER DISTRIBUTION		1,224,159		1,273,897
BUS SEWER COLLECTION		1,365,257		1,333,935
CONSUMER ACCOUNT EXPENSES		453,196		414,070
ADMINISTRATIVE & GENERAL		2,616,337		2,560,691
TAXES		339,034		325,232
INTEREST EXPENSES		671,200		634,571
DEPRECIATION & AMORTIZATION EXPENSES		1,162,173		1,104,204
TOTAL OPERATING EXPENSES		12,291,394		12,099,791
OPERATING MARGINS		(50,239)		(373,536)
NON-OPERATING MARGINS		184,392		140,369
TOTAL MARGINS		$                 134,153		$                    (233,167)
{Copies of the annual audited financial statements are available upon written request.}