2020-10-06T09:11:05-07:00 2019-12-31 990 2019-01-01 750481385 PANOLA-HARRISON ELECTRIC COOPERATIVE INC PANO 9039351540 PO BOX 1058 MARSHALL TX 756711058 Kathy Wood General Manager 9039357936 2020-10-05 24.204.53.74 2019 2021-04-22 16:20:28Z Kathy Wood P O Box 1058 Marshall TX 756711058 35453262 0 X WWW.PHEC.US X 1937 TX DISTRIBUTION OF ELECTRICITY AND RELATED SERVICES TO RURAL CUSTOMERS / MEMBERS 7 7 43 0 0 0 0 0 37133620 34638352 126980 208098 576660 592170 37837260 35438620 0 0 1309586 1034394 4136734 4261100 0 0 0 32390940 30143126 37837260 35438620 0 0 55927761 56493035 15081644 15547716 40846117 40945319 PANOLA-HARRISON ELECTRIC COOPERATIVE IS AN ELECTRIC DISTRIBUTION COOPERATIVE THAT WAS FORMED FOR THE PURPOSE OF PROVIDING ELECTRICITY TO RURAL CUSTOMERS IN PANOLA AND HARRISON COUNTIES IN TEXAS AND CADDO AND DESOTO PARISHES IN LOUISIANA. 0 0 SUPPLYING ELECTRIC SERVICE TO APPROXIMATELY 20,000 RURAL CUSTOMER METERS 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 23 0 1 43 1 0 0 0 0 0 34638352 814910 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X PANOLA-HARRISON ELEC COOP C/O DOTTIE DILLARD 9039351540 PO BOX 1058 MARSHALL TX 756711058 KATHY WOOD GENERAL MANAGER 50 0 X X X 181543 0 66926 JAY GOSWICK DIRECTOR 5 0 X 33318 0 0 ALBERT S TILLER SECRETARY-TREASURER / DIRECTOR 5 0 X 32757 0 0 JERRY L HOLMES VICE PRES/DIRECTOR 4 0 X 28390 0 0 H GENE STOUGH JR DIRECTOR 1 0 X 27265 0 0 PAUL FORTUNE DIRECTOR 1 0 X 25314 0 0 BASEL GIBBS PRESIDENT / DIRECTOR 5 0 X 24240 0 0 ANGELA GOODEN DIRECTOR 0 0 X 1979 0 0 354806 0 66926 1 0 1 0 ARBOR RESOURCES PO BOX 519 DIBOLL TX 75941 RIGHT OF WAY CLEARING 1066676 OSMOSE UTILITIES SERVICES INC P O BOX 117284 ATLANTA GA 303687284 POLE INSPECTIONS 171125 2 0 SALES OF ELECTRICITY 221000 34152856 34152856 0 0 SERVICE REVENUES 221000 485496 485496 0 0 0 0 0 0 34638352 194466 194466 0 0 0 0 0 0 7383 7383 0 0 0 50096 977 0 -977 50096 49119 49119 0 0 0 27297 0 13665 0 13632 13632 13632 0 0 CAPITAL CREDITS POWER SUPPLIER & ASSOC ORG 221000 503147 503147 0 0 DIRECTOR FEES 221000 30800 30800 0 0 VENDOR SALES TAX DISCOUNTS 221000 1721 1721 0 0 0 0 0 0 535668 35438620 35438620 0 0 1034394 421732 2276980 477933 885792 198663 16170 20688 1323627 30609 62702 4447 214251 11293 391773 1928597 182277 PURCHASED POWER COSTS 25998654 TRANSMISSION, DIST, & CONSUMER ACCT EXP 838615 GENERAL & ADMINISTRATION EXPENSES 258597 LESS: COSTS CAPITALIZED TO CONSTRUCTION -1139174 35438620 0 0 0 353980 183596 7344223 8954757 2411237 1375783 814864 849464 363347 310126 67036225 37308997 29864849 29727228 14775261 15092081 55927761 56493035 3711221 3622402 5863766 5330676 5506657 6594638 15081644 15547716 X 0 0 0 0 40846117 40945319 40846117 40945319 55927761 56493035 X 0 0 0 0 0 99202 X 0 0 0 0 762272 762272 0 691450 480956 210494 0 62579590 34639779 27939811 0 2894011 2178047 715964 0 108902 10215 98687 29727228 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 14470095 C INVESTMENTS IN OTH ASSOCIATED ORGANIZAT 13909 C INVESTMENT IN CFC-CTC'S 608077 C 15092081 CONSUMER DEPOSITS 2979946 ACCUM PROVISION FOR POST RETIREMENT BENE 2409076 CONSUMER ADVANCES FOR CONST & RETMT 999617 OVER RECOVERY OF POWER COSTS 146826 ESTIMATED INSTALL COST ON SPECIAL EQUIP 59173 6594638 X 0 0 0 KATHY WOOD GENERAL MANAGER 171454 0 2080 0 8009 0 41492 0 25434 0 248469 0 0 0 Schedule J, Part I, Line 3 The Board of Directors review and approve compensation for the General Manager using the same guidelines used to determine salaries and wages for all other employees (as discussed below). The decision regarding the General Managers compensation arrangement is recorded in the minutes of the Board Meeting. The General Manager uses published wage and salary reports provided to electric cooperatives from a national source to help in determination of wages and salaries. In addition, compensation is also based on internal job descriptions and various other factors. Form 990, Part VI, Section A, Line 6 All customers must apply for membership and pay a ten dollar membership fee before receiving electric service. Membership entitles the owner to one vote. No one person may have more than one vote. Form 990, Part VI, Section A, Line 7a Members elect the Board of Directors (seven board members) at the annual meeting. Each board member serves a three year term with no limits on the number of terms they may serve. Form 990, Part VI, Section A, Line 7b The cooperative membership must approve the following decisions as a governing body: (1) The election of directors; (2) The removal of directors or an officer; (3) Membership in other organizations other than non-profits that support rural electrification; and (4) the sale, mortgage or lease of useful property and facilities with a value in excess of ten percent of the value of total cooperative property. Form 990, Part VI, Section B, Line 11b A draft paper copy of the IRS Form 990 and appropriate schedules is provided to each director. It is reviewed at a PHEC Board meeting prior to filing the form. Form 990, Part VI, Section B, Line 12c The General Manager and/or the Accounting Manager prepares/approves vendor applications. Procedures are in place to help identify possible conflicts of interest. All vendor invoices are reviewed by these managers. Annual conflict of interest policies are completed and reviewed by the appropriate personnel. Form 990, Part VI, Section B, Line 15 The Board of Directors review and approve compensation for the General Manager using the same guidelines the General Manager uses to determine salaries and wages for all other employees (as discussed below). The decision regarding the General Managers compensation arrangement is recorded in the minutes of the Board Meeting. The General Manager uses published wage and salary reports provided to electric cooperatives from a national source to help in determination of wages and salaries. In addition, compensation is also based on internal job descriptions. Form 990, Part VI, Section C, Line 19 The Form 990, abbreviated financial reports, and other policies are made available upon request and may be viewed at the Cooperative. Each member is given a copy of the cooperative bylaws when they make application for service. In addition, an abbreviated financial report is given to all members attending the annual meeting. Form 990, Part XI, Line 9 Net increase in memberships was $175. Capital credits retired from equity were $(619,216). Decrease in the provision for post retirement benefits was $(316,151) and the member patronage allocation for 2019 was $1,034,394.