2024-10-23T08:49:42-05:00 2023-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2023-01-01 480354623 PRAIRIE LAND ELECTRIC COOPERATIVE INC PRAI 7858773323 PO BOX 360 NORTON KS 67654 MIKE ROGERS BOARD PRESIDENT 7858773323 2024-10-22 1 0 WILLIAM M MILLER P00439459 8067473806 2024-10-21 X 2023 2024-10-15 13:58:12Z KIRK GIRARD PO BOX 360 NORTON KS 67654 65593923 0 X WWW.PRAIRIELANDELECTRIC.COM X 1938 KS TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS. 11 11 97 0 101256 0 0 0 74618848 65129534 126016 266830 369187 191950 75114051 65588314 30538 30164 5838727 5114578 8237412 8954737 0 0 0 61007374 51488835 75114051 65588314 0 0 196002147 197680042 108056238 107152489 87945909 90527553 TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND SUPPORT OUR COMMUNITIES BY PROVIDING SAFE, RELIABLE ENERGY SERVICES AND EDUCATION. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 24,630 ACTIVE SERVICES AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 97 0 97 1 1 1 0 0 0 0 65408506 2427193 0 0 0 X 11 11 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X ALISHA STARK CFO 7858773323 PO BOX 360 NORTON KS 67654 X SANDRA BENOIT SECRETARY 16.90 X X 17500 0 0 IVAN BOHL TRUSTEE 7.10 X 11550 0 0 JERRY GALLAGHER TRUSTEE (JAN-MAR) 8.80 X 3150 0 0 RONALD GRIFFITH PRESIDENT 16.00 X X 20650 0 0 OTTO LEVIN TRUSTEE 6.50 X 10150 0 0 ROBERT PAXSON TREASURER 7.00 X X 11900 0 0 WILLIAM PETERSON TRUSTEE 11.00 X 15750 0 0 MIKE ROGERS VICE PRESIDENT 7.50 X X 11200 0 0 KEITH ROSS TRUSTEE 8.50 X 21000 0 0 LOWELL THOMAN TRUSTEE (APR-DEC) 3.80 X 8050 0 0 SCOTT URBAN TRUSTEE 7.80 X 9800 0 0 ERIC WITMER TRUSTEE 9.00 X 12950 0 0 KIRK GIRARD CEO 50.00 X 283909 0 264572 ALISHA STARK CFO 46.00 X 189380 0 94794 JAMES COASH OPERATIONS MANAGER - EAST 40.00 X 184162 0 105862 LON DEAN WISEMAN OPERATIONS MANAGER - WEST 45.00 X 184791 0 91987 SHANE SCHUMAKER DIRECTOR OF TECHNICAL SERVICES 41.00 X 149915 0 67997 APRIL KARNOPP DIRECTOR OF ADMINISTRATION 45.00 X 141507 0 93835 DAVID TIEMEYER AREA SUPERVISOR 45.90 X 127714 0 71057 BRETT MCCHESNEY CONSTRUCTION FOREMAN 47.40 X 125000 0 40761 BRANDON BLUE AREA SUPERVISOR 43.80 X 122928 0 44457 1662956 0 875322 51 0 1 0 SUNFLOWER ELECTRIC POWER CORP 301 WEST 13TH STREET HAYS KS 67601 ENGINEERING SERVICES & SUBSTATION MAINTE 3408715 SOLIDA TREE SERVICE INC PO BOX 421 PHILLIPSBURG KS 67661 TREE TRIMMING 538657 NATIONAL INFORMATION SOLUTIONS COOPERATI PO BOX 1147 MANDAN ND 58554 SOFTWARE PROVIDER & OTHER SERVICES 411886 MIDWEST ELECTRIC TRANSFORMER SERVICES 1324 N OLIVER RD NEWTON KS 67114 TRANSFORMER REPAIRS 154407 SENGER CONSTRUCTION LLC 300 N NASH STREET GLEN ELDER KS 67446 CONSTRUCTION CONTRACTOR 131627 5 X SALES OF ELECTRICITY 221000 61029017 61029017 PATRONAGE DIVIDENDS 221000 2266809 2266809 SERVICE FEES 221000 1655615 1655615 OTHER PROGRAM REVENUES 221000 178093 178093 65129534 147872 147872 124567 5609 118958 118958 118958 MERCHANDISING/HVAC JOBBING 221000 177642 76386 101256 POLE ATTACHMENT INCOME 221000 13113 13113 MISC. NON-OPERATING INCOME 221000 1195 1195 191950 65588314 65324878 101256 162180 X 30164 5114578 1553107 4648493 1111208 1238023 403906 4235239 7260202 PURCHASED POWER 34314698 DISTRIBUTION EXPENSE 3784083 ADMINISTRATIVE & GENERA 3461662 OTHER DEDUCTIONS 307726 -1874775 65588314 2485777 1757406 5718141 54596 5590570 6418535 140268 173476 2036548 3768363 593565 472358 211145267 80416983 122453888 130728284 51317782 52020677 5665608 2286347 196002147 197680042 6475342 9192167 99970549 96716111 1610347 1244211 108056238 107152489 X 0 0 0 0 87945909 90527553 87945909 90527553 196002147 197680042 X 0 2581644 X X 0 1 X 0 0 359925 359925 8674086 2218065 6456021 197519561 78198918 119320643 4591695 4591695 130728284 PATRONAGE CAPITAL ASSOCIATED ORGANIZATIONS 313732 C PATRONAGE CAPITAL - KEPCO 1075905 C PATRONAGE CAPITAL - SUNFLOWER ELECTRIC 35455339 C PATRONAGE CAPITAL - NRTC 1889 C PATRONAGE CAPITAL - MKEC 11370584 C PATRONAGE CAPITAL - FEDERATED RURAL INSURANCE 492595 C PATRONAGE CAPITAL - CFC 1741917 C CAPITAL TERM CERTIFICATES - CFC 615177 C OTHER INVESTMENTS 953539 C 52020677 CUSTOMER DEPOSITS 763379 UNAMORTIZED GAIN ON REACQUIRED DEBT 269217 OTHER DEFERRED CREDITS 211615 1244211 X 65280588 0 65280588 307726 307726 65588314 60166010 0 60166010 5422304 5422304 65588314 PART X, LINE 2: THE COOPERATIVE FOLLOWS THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: MERCHANDISING/HVAC EXPENSES RECLASSED TO PART IX 307,726. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 5,114,578. MERCHANDISING/HVAC EXPENSES RECLASSED TO PART IX 307,726. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. X X X 0 0 0 KIRK GIRARD CEO 276061 0 0 0 7848 0 239705 0 24867 0 548481 0 0 0 JAMES COASH OPERATIONS MANAGER - EAST 175889 0 0 0 8273 0 84239 0 21623 0 290024 0 0 0 ALISHA STARK CFO 188366 0 0 0 1014 0 63684 0 31110 0 284174 0 0 0 LON DEAN WISEMAN OPERATIONS MANAGER - WEST 173533 0 0 0 11258 0 68008 0 23979 0 276778 0 0 0 APRIL KARNOPP DIRECTOR OF ADMINISTRATION 139657 0 0 0 1850 0 60389 0 33446 0 235342 0 0 0 SHANE SCHUMAKER DIRECTOR OF TECHNICAL SERVICES 148957 0 0 0 958 0 36830 0 31167 0 217912 0 0 0 DAVID TIEMEYER AREA SUPERVISOR 126574 0 0 0 1140 0 51086 0 19971 0 198771 0 0 0 BRANDON BLUE AREA SUPERVISOR 120967 0 0 0 1961 0 13938 0 30519 0 167385 0 0 0 BRETT MCCHESNEY CONSTRUCTION FOREMAN 123803 0 0 0 1197 0 20312 0 20449 0 165761 0 0 0 PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. KIRK GIRARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 231,317 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,388 TOTAL REPORTED IN COLUMN C $ 239,705 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (231,317) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 88,152 EXPENSE TO THE COOPERATIVE $ 96,540 JAMES COASH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 78,932 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,307 TOTAL REPORTED IN COLUMN C $ 84,239 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (78,932) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,477 EXPENSE TO THE COOPERATIVE $ 34,784 ALISHA STARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 57,997 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,687 TOTAL REPORTED IN COLUMN C $ 63,684 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (57,997) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 60,237 EXPENSE TO THE COOPERATIVE $ 65,924 LON DEAN WISEMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 62,701 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,307 TOTAL REPORTED IN COLUMN C $ 68,008 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (62,701) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 56,251 EXPENSE TO THE COOPERATIVE $ 61,558 APRIL KARNOPP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,084 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,305 TOTAL REPORTED IN COLUMN C $ 60,389 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (56,084) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,603 EXPENSE TO THE COOPERATIVE $ 49,908 SHANE SCHUMAKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,315 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,515 TOTAL REPORTED IN COLUMN C $ 36,830 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,315) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,689 EXPENSE TO THE COOPERATIVE $ 52,204 DAVID TIEMEYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,715 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,371 TOTAL REPORTED IN COLUMN C $ 51,086 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,715) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,732 EXPENSE TO THE COOPERATIVE $ 39,103 BRANDON BLUE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,642 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,296 TOTAL REPORTED IN COLUMN C $ 13,938 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,642) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,935 EXPENSE TO THE COOPERATIVE $ 38,231 BRETT MCCHESNEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,170 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,142 TOTAL REPORTED IN COLUMN C $ 20,312 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,170) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,303 EXPENSE TO THE COOPERATIVE $ 36,445 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF TRUSTEES. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION 5. AMENDMENT TO THE BYLAWS 6. OTHER MATTERS RESERVED BY AND FOR THE MEMBERS, SUCH AS VOTING TO REMAIN REGULATED OR TO BECOME DEREGULATED. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES AND SENIOR MANAGEMENT. THEN THE CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM IS COMPLETED. FORM 990, PART VI, SECTION B, LINE 15 PRAIRIE LAND COOPERATIVE ENROLLED IN THE NRECA COMPENSATION PROGRAM TO EVALUATE AND GRADE EACH POSITION WITHIN OUR COOPERATIVE. NRECA THEN PROVIDES PRAIRIE LAND ELECTRIC COOPERATIVE WITH THE REGIONAL AND NATIONAL WAGE RANGE FOR A POSITION WITH SIMILAR RESPONSIBILITIES. ALL WAGES ARE WITHIN THE PAY RANGE FOR EMPLOYEES. THE BOARD OF TRUSTEES APPROVES THE CEO WAGES ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND YEAR END FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE COOPERATIVE PROVIDES A COPY OF THE YEAR END BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE WITH THE ANNUAL REPORT. THE ANNUAL REPORT AND BYLAWS CAN ALSO BE FOUND ON THE COOPERATIVE'S WEBSITE. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE EMPLOYEE OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2B: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 6,201,600 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (153,650) LESS: EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (557,215) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGINS 65,200 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 2,339,554 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 847,405 TOTAL WAGES ACCRUED AND/OR PAID $ 8,742,894 FORM 990, PART IX, LINE 24E: OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: CUSTOMER ACCOUNTS $ 1,216,130 CUSTOMER SERVICE & INFORMATION 627,315 OTHER TAXES 3,423 TRANSMISSION 766,526 TOTAL OTHER EXPENSES PER FINANCIAL STATEMENTS $ 2,613,394 LESS: RECLASS OF LABOR AND BENEFITS (4,488,169) TOTAL OTHER EXPENSES PER FORM 990, PART IX $(1,874,775) FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2023 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 2,349,431 OFFICE SUPPLIES 309,635 OUTSIDE SERVICES 209,916 INJURIES AND DAMAGES 208,140 EMPLOYEE PENSION & BENEFITS 206,936 REGULATORY COMMISSION 25,460 DIRECTORS 204,535 ANNUAL MEETING EXPENSE 68,617 ADVERTISING 13,430 DONATIONS 30,164 DUES AND SUBSCRIPTIONS 163,161 MISCELLANEOUS GENERAL 299,782 MAINTENANCE OF GENERAL PLANT 176,602 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 4,265,809 LESS: RECLASS OF DONATIONS TO PART IX, LINE 1 (30,164) LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (153,650) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (387,007) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (233,326) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 3,461,662 FORM 990, PART IX: THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RURAL UTILITIES SERVICE (RUS) UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ASSIGNABLE 5,114,578. PATRONAGE CAPITAL RETIRED - TOTAL -2,759,758. PATRONAGE CAPITAL RETIRED - DISCOUNT 165,440. DONATED CAPITAL 61,384. FORM 990, PART XII, LINE 2C: THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR. PRAIRIE LAND PLUS INC PO BOX 360 NORTON KS 67654 481148506 DORMANT CORPORATION KS PRAIRIE LAND ELECTRIC COOPERATIVE INC C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0