Comprehensive Annual Financial Report
for the Year Ended December 31, 2011
Prepared by GRDA’s Finance and
Corporate Communications Departments
The Grand River Dam Authority exists today because our organization’s founders acted upon their “grand expectations” for Oklahoma. Those expectations included low-cost, reliable electricity, economic development and environmental stewardship. They expected to build dams, grand lakes and electric generation and delivery facilities where none had ever been built before. Along the way, they expected to boost Oklahoma business and industry and transform a rugged, rural landscape into a region where thousands would want to live, work and play.
In other words, they expected the GRDA that exists today. Like an eagle rising into the air, those grand expectations took flight when construction began on Pensacola Dam. Expectations continued to soar as GRDA developed its electricity system, established partnerships with Oklahoma customers, and helped create the region’s premier recreation destination around the shores of GRDA lakes.
Grand Expectations is not just our current theme, it is our message. The expectations embody our willingness to follow through with a new commitment to communication
and compliance. It incorporates Oklahoma’s self-reliant spirit and visionary leaders from days gone by; it characterizes their struggles, triumphs, and ongoing successes. It includes GRDA’s history, mission, partnerships and the role in Oklahoma’s powerful story.
Grand expectations became grand realizations. Today, as we look back on 2011, GRDA can see what it was looking for when the year began: successful operations during our 77th year. Of course, there were challenges along the way, including blizzards, droughts, heat waves and a leadership transition. However, GRDA has been able to soar above the challenges and maintain its role as a powerful Oklahoma asset. The pages of this comprehensive annual financial report outline our flight through 2011.
It is a flight we hope to continue in the future.In fact, we have come to expect it.