Basin Electric board approves 2021 audit results and margin allocation

The Dec. 31, 2021, financial statements of Basin Electric, Dakota Coal Company, Dakota Gasification Company, and Souris Valley Pipeline Ltd. were presented to directors at the board audit committee meeting held during the March board meeting. These financial statements are prepared by Basin Electric's controller division staff and audited by the accounting firm Deloitte & Touche.

Adam Krasnoff and Judith Dockendorf, representatives with Deloitte, attended the board audit committee meeting and presented the results of the audits to directors. Katrina Wald, Basin Electric vice president and controller, said each of the 2021 audited financial statements received unqualified or clean opinions.

Also, the board of directors voted at the March meeting to approve the allocation of Basin Electric’s 2021 net margins and earnings of $57.9 million to patrons. Each of Basin Electric’s Class A members will receive correspondence communicating the portion of the margin that was allocated to their cooperative.