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OPERATING REVENUES:
2015
2014
Local Customer Services
$ 5,903,869
$ 5,288,086
Intercarrier Services
7,209,520
6,736,531
Universal Service and High Cost Support
9,049,032
8,042,263
Television Revenue
3,618,546
3,133,214
Internet Revenue
2,938,775
2,875,666
Miscellaneous Revenue
3,497,638
3,687,873
TOTAL OPERATING REVENUES
32,217,380
29,763,633
OPERATING EXPENSES:
Plant
10,126,610
10,343,090
Depreciation
8,058,119
6,101,707
Customer and Corporate
4,475,402
4,490,086
Other Operating Taxes
95,923
94,227
Non-regulated Expenses
5,820,840
5,449,919
TOTAL OPERATING EXPENSES
28,576,894
26,479,029
OPERATING MARGIN
3,640,486
3,284,604
NET NON-OPERATING INCOME
1,678,575
2,265,614
NETMARGINBEFORE INTEREST
AND INCOME TAXES
5,319,061
5,550,218
Interest on Long-Term Debt
2,273,355
1,975,999
Income Taxes
73,209
9,108
NET MARGINS
$ 2,972,497
$ 3,565,111
STATEMENT OF PATRONAGE CAPITAL:
Patronage Capital - Beginning of Year
$ 29,090,139
$ 25,765,370
Net Margins for Period
2,972,497
3,565,111
Federal Excise Tax Refund to Patrons
28,054
26,095
Retirement of Capital Credits
(448,111)
(266,437)
Patronage Capital - End of Year
$ 31,642,579
$ 29,090,139
Revenues & Expenses
AUDIT STATEMENT
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated
financial position of Reservation Telephone Cooperative and subsidiary as of December 31, 2015 and 2014, and the results of
their operations and their cash flows for the years then ended in accordance with accounting principles generally accepted
in the United States of America. —Moss Adams, LLP