2022-08-25T14:28:31-05:00 2021-12-31 582475857 NICHOLS CAULEY & ASSOCIATES LLC 1300 BELLEVUE AVENUE DUBLIN GA 310214152 990 2021-01-01 590188973 CENTRAL FLORIDA ELECTRIC COOPERATIVE INC CENT 8002271302 PO BOX 9 CHIEFLAND FL 326440009 JUSTIN D JONES CFO 3524936905 2022-08-24 1 JUSTIN JONES 999009999 CAL BRANTLEY CPA P00636393 4782751163 2022-08-24 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DENNY GEORGE PO BOX 9 CHIEFLAND FL 326440009 67342148 0 X WWW.CFEC.COM X 1939 FL See Schedule O 9 9 109 0 0 0 0 0 65952619 67056152 511307 285996 5858 0 66469784 67342148 0 0 1163217 1262148 1237108 1264031 0 0 0 62422703 64670919 64823028 67197098 1646756 145050 141542916 145913445 87964351 89685696 53578565 56227749 SEE SCHEDULE O 0 0 SALE OF ELECTRICITY TO APPROXIMATELY 27,000+ COOPERATIVE MEMBERS. 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 1 0 0 0 0 0 0 0 0 1 32 0 109 1 0 0 0 0 0 66297575 367041 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 4.00 X 15900 0 0 KYLE QUINCEY TRUSTEE 5.00 X 11500 0 0 TONY WEEKS TRUSTEE 6.00 X 10950 0 0 DONALD LANE TRUSTEE 5.00 X 10950 0 0 ALAN MIKELL TRUSTEE/PRESIDENT 5.00 X X 16950 0 0 KENNETH O'STEEN TRUSTEE 4.00 X 17850 0 0 CARL ROOF SR TRUSTEE/SEC-TREASURER 2.00 X X 14650 0 0 BARBARA TOWNSEND TRUSTEE 4.00 X 17850 0 0 JAMES MCCAIN TRUSTEE/VICE PRESIDENT 4.00 X X 14550 0 0 KIMBERLY BAXLEY VP, HUMAN RESOURCES 40.00 X 155032 0 38221 GEORGE BUCKNER CHIEF INFORMATION OFFICER 40.00 X 124841 0 64213 JOEL D GEORGE EXECUTIVE VP/GENERAL MANAG 40.00 X 253223 0 97551 ROBERT D KREFTING VP FINANCE AND ACCOUNTING 40.00 X 152897 0 58384 TONY R WASSON VP MEMBER SERVICES 40.00 X 109323 0 79196 KLINT WOOD LINE TECHNICIAN 49.00 X 143720 0 35632 LESTER ALDRICH CREW SUPERVISOR 49.00 X 121632 0 62242 MATTHEW MILLER CREW SUPERVISOR 51.00 X 120163 0 35294 DANIEL POWELL ENGINEERING MANAGER 40.00 X 121980 0 50657 TRAVIS SMITH LINE TECHNICIAN 49.00 X 132905 0 46967 1566866 0 568357 19 0 1 0 MUSGROVE CONSTRUCTION INC PO BOX 825124 PHILADELPHIA PA 191825124 POLE REPLACEMENTS 1539343 BAIRD TREE COMPANY INC PO BOX 326 CARYVILLE TN 77439 RIGHT OF WAY MAINTENANCE 1023407 THE DAVEY TREE EXPERTS CO PO BOX 94532 CLEVELAND OH 44101 RIGHT OF WAY MAINTENANCE 792605 BURFORD'S TREE SURGEONS INC 4229 CHOCTAW STREET ANNISTON AL 362068549 RIGHT OF WAY MAINTENANCE 609101 SEDCMERIDIAN 100 ASHFORD CENTER NORTH STE 500 ATLANTA GA 303384865 SOFTWARE AND SUPPORT 542304 11 Sale of Energy 221000 66378620 66378620 Qualified Pole Rental 221000 677532 677532 67056152 43234 43234 242762 0 242762 242762 242762 67342148 66621382 0 720766 X 1262148 1264031 2112474 4951824 COST OF POWER 39032404 DISTRIBUTION - MAINTENA 7563430 DISTRIBUTION - OPERATIO 4636662 CONSUMER ACCOUNTS 2894566 3479559 67197098 3298618 1942788 1032 1033 5982504 5444461 1276640 1683150 755185 496716 173593226 55624589 112720152 117968637 17508785 18376660 141542916 145913445 7522685 9377756 2335940 3257612 60284377 60396925 581 0 17820768 16653403 87964351 89685696 X 133995 137350 9425 9425 53435145 56080974 53578565 56227749 141542916 145913445 X 145050 2504134 X X 0 1 X 1 0 660052 660052 11006193 3786597 7219596 10032732 7693945 2338787 151894249 44144047 107750202 117968637 PATRONAGE CAPITAL - SEMINOLE ELECTRIC COOPERATIVE, INC. 15033324 C PATRONAGE CAPITAL - NRUCFC 570368 C CAPITAL TERM CERTIFICATES - NRUCFC 982424 C PATRONAGE CAPITAL - NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 21046 C PATRONAGE CAPITAL - TRI-COUNTY ELECTRIC COOPERATIVE 15556 C PATRONAGE CAPITAL - COBANK 216164 C COOPERATIVE RESPONSE CENTER, INC. 14523 C PATRONAGE CAPITAL - GRESCO 1063270 C PATRONAGE CAPITAL - FEDERATED 451005 C PATRONAGE CAPITAL - MERIDIAN 8980 C 18376660 ACCRUED POSTRETIREMENT BENEFITS OBLIGATION 13894151 CONSUMER DEPOSITS 2759252 16653403 X 67652487 310339 310339 67342148 0 67342148 65368205 -566745 -566745 65934950 1262148 1262148 67197098 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. Part XI, Line 2d - Other Adjustments: HOMEGUARD EXPENSES NETTED AGAINST REVENUE -12,202. PATRONAGE CAPITAL ALLOCATED DIFFERENCE BETWEEN BOOK/TAX 877,084. POSTRETIREMENT BENEFITS COSTS NETTED AGAINST NONOPERATING MARGINS -554,543. Part XII, Line 2d - Other Adjustments: HOMEGAURD EXPENSES NETTED AGAINST REVENUE -12,202. POSTRETIREMENT BENEFITS COSTS NETTED AGAINST NONOPERATING MARGINS -554,543. Part XII, Line 4b - Other Adjustments: BENEFITS PAID TO MEMBERS 1,262,148. X X X 0 0 0 JOEL D GEORGE EXECUTIVE VP/GENERAL MANAG 243802 0 5150 0 4271 0 70930 0 26621 0 350774 0 0 0 ROBERT D KREFTING VP FINANCE AND ACCOUNTING 146700 0 150 0 6047 0 44445 0 13939 0 211281 0 0 0 KIMBERLY BAXLEY VP, HUMAN RESOURCES 150411 0 3011 0 1610 0 36955 0 1266 0 193253 0 0 0 GEORGE BUCKNER CHIEF INFORMATION OFFICER 121800 0 2632 0 409 0 34917 0 29296 0 189054 0 0 0 TONY R WASSON VP MEMBER SERVICES 105750 0 2189 0 1384 0 51603 0 27593 0 188519 0 0 0 LESTER ALDRICH CREW SUPERVISOR 119185 0 2052 0 395 0 34017 0 28225 0 183874 0 0 0 TRAVIS SMITH LINE TECHNICIAN 130871 0 1829 0 205 0 19459 0 27508 0 179872 0 0 0 KLINT WOOD LINE TECHNICIAN 143232 0 292 0 196 0 11202 0 24430 0 179352 0 0 0 DANIEL POWELL ENGINEERING MANAGER 118527 0 2487 0 966 0 23129 0 27528 0 172637 0 0 0 MATTHEW MILLER CREW SUPERVISOR 119654 0 292 0 217 0 22978 0 12316 0 155457 0 0 0 SEMINOLE ELECTRIC COOPERATIVE INC DIRECTOR 36498656 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 98111 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 ADMINISTRATIVE AND GENERAL 2,857,504. POSTRETIREMENT BENEFITS 554,543. TRANSMISSION 41,616. OTHER 16,836. TAXES 9,060. 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, 2021 ($1,262,148). Form 990, Part XI, line 9: OTHER COMPREHENSIVE MARGINS 1,623,695. MEMBERSHIPS ISSUED, NET 3,355. ADDITIONAL BOOK PATRONAGE CAPITAL INCOME ALLOCATED 877,084. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO SIGNIFICANT CHANGES IN THE OVERSIGHT AND SELECTION PROCESSES IN THE PAST YEAR.