2007 Balance Sheet

BOWIE-CASS ELECTRIC COOPERATIVE, INC.
FINANCIAL STATEMENT
As of December 31, 2007

ASSETS:
Total Cost of System	$155,649,500
Accumulated Depreciaton	41,551,515
Net Value of System		$114,097,985
Investment in Associated Organizations		20,154,290
Cash in Bank		1,921,736
Short-Term Investments		-
Accounts Receivable--Electricity Sales and Other		3,721,971
Materials and Supplies Inventory		1,867,059
Prepayments--Insurance and Other		252,839
Unbilled Revenue and Power Cost Recovery		3,375,618
Regulatory Assets		-
Deferred Debits		145,169
Total Assets		$145,536,667

LIABILITIES:
Long-term Debt--RUS	$22,812,552
Long-term Debt--CFC	9,634,264
Long-term Debt--FFB	22,688,010
Total Long-term Debt Owed		$55,134,826
Notes Payable--Current Installments		2,813,512
Accounts Payable--Power Bill		10,852,740
Accounts Payable--Materials and Other		1,360,545
Accumulated Operating Provisions		10,087,812
Member Deposits		883,151
Other Current Liabilities		1,717,847
Deferred Credits		93,753
Membership Fees		127,980
Members Equity in Cooperative		62,464,501
Total Liabilities, Margins, and Equities		$145,536,667

INCOME / EXPENSE STATEMENT

INCOME
	Amount	Percent of Income
Electricity and Other Electric Revenue	$57,736,165	102.347%
Non-Operating Income--Other	(1,697,558)	-3.009%
Non-Operating Income--Patronage Capital	373,656	0.662%
TOTAL INCOME	$56,412,263	100.000%

EXPENSES
Cost of Purchased Power	$36,284,287	64.320%
Operation and Maintenance	9,738,692	17.263%
Depreciation and Amortization	4,559,025	7.604%
Interest	3,176,884	8.082%
Taxes	896,408	1.589%
Other	32,842	0.058%
Extraordinary Items	-	0.000%
TOTAL EXPENSE	$54,864,790	97.57%
NET MARGIN	$1,547,473	2.743%