2024-09-10T09:46:25-05:00 2023-12-31 582475857 NICHOLS CAULEY & ASSOCIATES LLC 1300 BELLEVUE AVENUE DUBLIN GA 310214152 990 2023-01-01 590188973 CENTRAL FLORIDA ELECTRIC COOPERATIVE INC CENT 8002271302 PO BOX 9 CHIEFLAND FL 326440009 JUSTIN D JONES CFO 3524936905 2024-09-04 1 0 CAL BRANTLEY CPA P00636393 4782751163 2024-09-04 2023 2024-08-08 14:25:15Z DENNY GEORGE PO BOX 9 CHIEFLAND FL 326440009 75089877 0 X WWW.CFEC.COM X 1939 FL See Schedule O 9 9 126 0 0 0 0 0 82558758 74322045 101730 746561 0 0 82660488 75068606 0 0 1057896 1046905 1387521 1641277 0 0 0 79435388 71100951 81880805 73789133 779683 1279473 182366640 223844705 119814088 160441040 62552552 63403665 SEE SCHEDULE O 0 0 SALE OF ELECTRICITY TO APPROXIMATELY 28,000 COOPERATIVE MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 48 0 1 126 1 0 0 0 0 0 73069067 1152011 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 1 0 X JUSTIN D JONES 3524936905 11491 NW 50TH AVENUE CHIEFLAND FL 32626 HOUSTON MARKAM TRUSTEE 8.00 X 15200 0 0 KYLE QUINCEY TRUSTEE 5.00 X 12050 0 0 TONY WEEKS TRUSTEE 6.00 X 14050 0 0 DONALD LANE TRUSTEE 10.00 X 11600 0 0 ALAN MIKELL TRUSTEE/SECRETARY 7.00 X X 23750 0 0 KENNETH O'STEEN TRUSTEE 4.00 X 14100 0 0 CARL ROOF SR TRUSTEE/VICE PRESIDENT 10.00 X X 20150 0 0 BARBARA TOWNSEND TRUSTEE/DECSD 2023 4.00 X 1600 0 0 JAMES MCCAIN TRUSTEE/PRESIDENT 8.00 X X 16550 0 0 LARRY THOMPSON TRUSTEE 7.00 X 11550 0 0 KIMBERLY BAXLEY VP, SAFETY & HR 40.00 X 176972 0 38642 GEORGE BUCKNER CHIEF INFORMATION OFFICER 40.00 X 150021 0 59352 JOEL D GEORGE EXECUTIVE VP/GENERAL MANAG 40.00 X 347975 0 94187 ROBERT D KREFTING ENTERPRISE CFO 40.00 X 184537 0 53712 JAMES BEAUCHAMP VP OPERATIONS 40.00 X 140285 0 56468 DANIEL POWELL VP ENGINEERING 40.00 X 140409 0 58117 KLINT WOOD CREW SUPERVISOR 40.00 X 176887 0 46937 LESTER ALDRICH CREW SUPERVISOR 40.00 X 140984 0 34695 MATTHEW MILLER CREW SUPERVISOR 40.00 X 137000 0 34193 TRAVIS SMITH LINE TECHNICIAN 40.00 X 145686 0 41255 1881356 0 517558 43 0 1 0 MUSGROVE CONSTRUCTION INC PO BOX 825124 PHILADELPHIA PA 191825124 CONSTRUCTION & POLE REPLACEMENTS 11104083 BIGHAM CABLE CONSTRUCTION INC PO BOX 926 GULF BREEZE FL 32562 FIBER CONSTRUCTION 3981532 CONEXON LLC 2001 GRAND BLVD SUITE 700 KANSAS CITY MO 64108 FIBER SYSTEM DESIGN/ PROJECT MGMT 2903806 STORM SERVICES LLC PO BOX 326 THOMASVILLE GA 31792 STORM RESTORATION SERVICES 1716493 BAIRD TREE COMPANY INC PO BOX 326 CARYVILLE TN 77439 RIGHT OF WAY MAINTENANCE 1545393 23 Sale of Energy 221000 73361886 73361886 Qualified Rentals 221000 847528 847528 Other 221000 112631 112631 74322045 656132 656132 111700 21271 90429 90429 90429 75068606 73564946 0 1503660 X 1046905 1641277 2169032 5713546 COST OF POWER 43529592 DISTRIBUTION - MAINTENA 8933343 DISTRIBUTION - OPERATIO 4822143 ADMINISTRATIVE AND GENE 2728290 3205005 73789133 23609912 710334 1035 1037 7338714 8320976 4187236 6909226 339106 2856186 241043612 60208363 127373614 180835249 19403498 21207899 113525 3003798 182366640 223844705 14108106 14746264 93703135 127617041 12002847 18077735 119814088 160441040 X 140125 142620 9425 9425 62403002 63251620 62552552 63403665 182366640 223844705 X 1279473 -428360 X X 0 1 X 1 0 660052 660052 11654137 4450877 7203260 11151092 8944173 2206919 217578331 46813313 170765018 180835249 PATRONAGE CAPITAL - SEMINOLE ELECTRIC COOPERATIVE, INC. 16713324 C PATRONAGE CAPITAL - NRUCFC 558482 C CAPITAL TERM CERTIFICATES - NRUCFC 965146 C PATRONAGE CAPITAL - NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 21881 C PATRONAGE CAPITAL - TRI-COUNTY ELECTRIC COOPERATIVE, INC. 15556 C PATRONAGE CAPITAL - COBANK 230693 C COOPERATIVE RESPONSE CENTER, INC. 15557 C PATRONAGE CAPITAL - GRESCO UTILITY SUPPLY, INC. 2126257 C PATRONAGE CAPITAL - FEDERATED 506555 C PATRONAGE CAPITAL - MERIDIAN COOPERATIVE, INC. 54448 C 21207899 ACCRUED POSTRETIREMENT BENEFITS OBLIGATION 9477641 CONSUMER DEPOSITS 2714607 DEFERRED REVENUES 5885487 18077735 X Part X, Line 2: UNDER ACCOUNTING STANDARDS CODIFICATIONS (ASC) SECTION 740-10, INCOME TAX UNCERTAINTIES, IT IS THE POLICY OF MANAGEMENT TO EVALUATE ITS TAX POSITIONS ON AN ONGOING BASIS AND TO DISCLOSE ANY SUCH POSITIONS IT BELIEVES WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS AND RELATED NOTES. MANAGEMENT ALSO BELIEVES THAT NO SUCH REQUIRED DISCLOSURES CURRENTLY EXIST. X X X 0 0 0 JOEL D GEORGE EXECUTIVE VP/GENERAL MANAG 293668 0 33237 0 21070 0 69904 0 24283 0 442162 0 0 0 ROBERT D KREFTING ENTERPRISE CFO 148232 0 9456 0 26849 0 31071 0 22641 0 238249 0 0 0 KLINT WOOD CREW SUPERVISOR 175202 0 150 0 1535 0 22944 0 23993 0 223824 0 0 0 KIMBERLY BAXLEY VP, SAFETY & HR 154886 0 19129 0 2957 0 38072 0 570 0 215614 0 0 0 GEORGE BUCKNER CHIEF INFORMATION OFFICER 137567 0 10195 0 2259 0 35359 0 23993 0 209373 0 0 0 DANIEL POWELL VP ENGINEERING 119767 0 17973 0 2669 0 31236 0 26881 0 198526 0 0 0 JAMES BEAUCHAMP VP OPERATIONS 116146 0 21609 0 2530 0 29407 0 27061 0 196753 0 0 0 TRAVIS SMITH LINE TECHNICIAN 142536 0 1792 0 1358 0 17262 0 23993 0 186941 0 0 0 LESTER ALDRICH CREW SUPERVISOR 137419 0 2030 0 1535 0 22922 0 11773 0 175679 0 0 0 MATTHEW MILLER CREW SUPERVISOR 135315 0 150 0 1535 0 22973 0 11220 0 171193 0 0 0 SEMINOLE ELECTRIC COOPERATIVE INC DIRECTOR 43058086 PURCHASED POWERKYLE QUINCEY, TONY WEEKS AND DENNY GEORGE WERE MEMBERS OF THE BOARD OF DIRECTORS OF SEMINOLE ELECTRIC COOPERATIVE, INC. AND ARE LISTED IN PART VII OF FORM 990. 0 FLORIDA RURAL SELF INSURED FUND DIRECTOR 94517 INSURANCEDENNY GEORGE WAS A MEMBER OF THE BOARD OF DIRECTORS OF FLORIDA RURAL SELF INSURED FUND AND IS LISTED IN PART VII OF FORM 990. 0 FORM 990, PART I, LINE 1 DESCRIPTION OF ORANIZATION MISSION: CENTRAL FLORIDA ELECTRIC COOPERATIVE, INC. (CFEC) IS A COMMUNITY ORIENTED,MEMBER-OWNED COOPERATIVE THAT PROVIDES RELIABLE SERVICE TO ITS MEMBERS-OWNERS AT THE LOWEST RATE POSSIBLE, WHILE BEING FISCALLY AND ENVIRONMENTALLY RESPONSIBLE. TO BE THE FINEST EXAMPLE OF AN ELECTRIC COOPERATIVE WHERE EXCELLENT SERVICE, COMPETITIVE RATES AND CONCERN FOR THE CONSUMER, COMMUNITY AND ENVIRONMENT GUIDE OUR EVERY ACTION. Form 990, Part VI, Section A, line 6 THE BYLAWS STATE THAT FOR A PERSON/ENTITY TO RECEIVE SERVICE THE PERSON/ENTITY HAS TO BE A MEMBER OF THE COOPERATIVE. EACH MEMBER RECEIVES ONE VOTE. A MEMBER MAY HAVE MULTIPLE ELECTRIC ACCOUNTS, BUT ONLY ONE MEMBERSHIP IS ALLOWED. THE COOPERATIVE HAS ONLY ONE CLASS OF MEMBERS. Form 990, Part VI, Section A, line 7a CFEC MEMBERS ELECT THE BOARD OF TRUSTEES (MEMBERS OF THE GOVERNING BODY). Form 990, Part VI, Section A, line 7b THE BOARD OF TRUSTEES IS ELECTED BY THE MEMBERS. THE MEMBERS MUST ALSO APPROVE ANY CHANGES TO THE ARTICLES OF INCORPORATION OR THE BYLAWS AND ANY DECISIONS BY THE BOARD OF TRUSTEES WHERE PREVIOUS AUTHORITY HAS NOT BEEN GRANTED BY THE GOVERNING DOCUMENTS. Form 990, Part VI, Section B, line 11b THE EXECUTIVE VICE PRESIDENT/GENERAL MANAGER AND THE CHIEF FINANCIAL OFFICER REVIEW THE FORM 990 IN DETAIL. A COPY OF THE FORM 990 IS PRESENTED TO THE BOARD OF TRUSTEES BEFORE FILING AND APPROVED. THE FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM. Form 990, Part VI, Section B, line 12c CFEC HAS A WRITTEN CONFLICT OF INTEREST POLICY. THE POLICY IS MONITORED CONSTANTLY AND REPRESENTATIONS ARE OBTAINED ON AN ANNUAL BASIS EVIDENCING COMPLIANCE WITH THE POLICY BY TRUSTEES AND EMPLOYEES. Form 990, Part VI, Section B, line 15 AN OUTSIDE INDEPENDENT CONSULTANT PREPARES A SALARY SURVEY ANNUALLY. THE SURVEY IS USED BY THE BOARD OF TRUSTEES TO DETERMINE COMPENSATION FOR THE EXECUTIVE VICE PRESIDENT/GENERAL MANAGER. THE BOARD OF TRUSTEES REVIEWS THE GENERAL MANAGER'S PERFORMANCE ON AN ANNUAL BASIS. THE EXECUTIVE VICE PRESIDENT/GENERAL MANAGER USES THE SALARY SURVEY TO SET COMPENSATION FOR OTHER EMPLOYEES OF CFEC. Form 990, Part VI, Section C, line 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR REVIEW BY CFEC'S MEMBERS AT ITS HEADQUARTERS OFFICE. DOCUMENTS, POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE AS SOON AS POSSIBLE AFTER THE REQUEST IS MADE. Form 990, Part IX, line 24e CONSUMER ACCOUNTS 2,452,623. POSTRETIREMENT BENEFITS 619,800. OTHER 69,261. TRANSMISSION 43,563. TAXES 19,758. FORM 990, PART IX, LINE 4 THE AMOUNT REPORTED ON LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL RETIREMENTS REPORTED IN THE AUDITED STATEMENT OF CHANGES IN EQUITIES FOR THE YEAR ENDED DECEMBER 31, 2023 ($1,046,905). Form 990, Part XI, line 9: OTHER COMPREHENSIVE MARGINS 145,644. MEMBERSHIPS ISSUED, NET 2,495. ADDITIONAL BOOK PATRONAGE CAPITAL INCOME ALLOCATED 1,816,404. UNALLOCATED LOSS OF TAXABLE SUBSIDIARY -2,392,903. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO SIGNIFICANT CHANGES IN THE OVERSIGHT AND SELECTION PROCESSES IN THE PAST YEAR. FIBER BY CENTRAL FLORIDA LLC PO BOX 69 CHIEFLAND FL 32644 883607354 BROADBAND AND ANCILLARY SERVICES FL C 3037997 1.00000 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FIBER BY CENTRAL FLORIDA LLC D 5999788 COST