2020-05-22T14:01:32-05:00 2019-12-31 582475857 NICHOLS CAULEY & ASSOCIATES LLC 1300 BELLEVUE AVENUE DUBLIN GA 310214152 990 2019-01-01 590188973 CENTRAL FLORIDA ELECTRIC COOPERATIVE INC CENT 8002271302 PO BOX 9 CHIEFLAND FL 326440009 ROBERT D KREFTING CFO 3524936910 2020-04-10 1 CAL BRANTLEY CPA P00636393 4782751163 2020-04-10 64.88.174.3 2020-04-10 09:26:49 US P 5E7C91958FEBDAC882392D3C8A05C4DE83E6F232 060EC229DBC5EBAF92030EC024474F73EEE47586 2019 2020-09-22 18:59:49Z DENNY GEORGE PO BOX 9 CHIEFLAND FL 326440009 65149250 0 X WWW.CFEC.COM X 1939 FL See Schedule O 9 9 109 0 0 0 0 0 66364987 65086382 162171 51633 3750 11235 66530908 65149250 0 0 1064245 697548 1939793 1442426 0 0 0 62208000 62709361 65212038 64849335 1318870 299915 131685159 135873417 78712009 83382888 52973150 52490529 SEE SCHEDULE O 0 0 SALE OF ELECTRICITY TO APPROXIMATELY 26,000+ 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 37 0 109 1 0 0 0 0 0 64345725 155941 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 ROBERT D KREFTING 3524936910 11491 NW 50TH AVENUE CHIEFLAND FL 32626 HOUSTON MARKAM TRUSTEE 4.00 X 2903 0 0 KYLE QUINCEY TRUSTEE 5.00 X 34346 0 0 TONY WEEKS TRUSTEE 6.00 X 32206 0 0 DONALD LANE TRUSTEE 5.00 X 27650 0 0 ALAN MIKELL TRUSTEE/PRESIDENT 8.00 X X 30342 0 0 KENNETH O'STEEN TRUSTEE 4.00 X 33466 0 0 CARL ROOF SR TRUSTEE/SEC-TREASURER 2.00 X X 12629 0 0 BARBARA TOWNSEND TRUSTEE 4.00 X 15810 0 0 JAMES MCCAIN TRUSTEE/VICE PRESIDENT 4.00 X X 13360 0 0 BEN DAWSON VP, ENGINEERING & OPERATIONS 40.00 X 184771 0 71469 KIMBERLY BAXLEY VP, HUMAN RESOURCES 40.00 X 128185 0 22930 GEORGE BUCKNER CHIEF INFORMATION OFFICER 40.00 X 114604 0 44417 JOEL D GEORGE EXECUTIVE VP/GENERAL MANAG 40.00 X 206457 0 49571 ROBERT D KREFTING VP FINANCE AND ACCOUNTING 40.00 X 133322 0 35455 TONY R WASSON VP MEMBER SERVICES 40.00 X 96485 0 61107 MICHAEL W JENKINS OPERATIONS SUPERINTENDENT 40.00 X 101238 0 78509 MATTHEW MILLER CREW SUPERVISOR 51.00 X 126881 0 34692 JAMES BEAUCHAMP CREW SUPERVISOR 51.00 X 119697 0 44956 RANDY J MIKELL FORMER TRUSTEE 5.00 X 17594 0 0 1431946 0 443106 8 1 1 0 THE DAVEY TREE EXPERTS CO PO BOX 709 KENT OH 442400709 MAINTENANCE 1773692 MUSGROVE CONSTRUCTION INC PO BOX 825124 PHILADELPHIA PA 191825124 CONTRACTOR 1403652 BURFORD'S TREE SERVICE 4229 CHOCTAW STREET ANNISTON AL 362068549 MAINTENANCE 585778 SEDC 100 ASHFORD CENTER NORTH STE 500 ATLANTA GA 303384865 CONTRACTOR 465431 TRI-STATE UTILITY PRODUCTS PO BOX 277393 ATLANTA GA 303384865 MAINTENANCE 391747 5 Sale of Energy 221000 64438798 64438798 Qualified Pole Rental 221000 647584 647584 65086382 51633 51633 11235 0 11235 11235 11235 65149250 64438798 0 710452 X 697548 1414352 28074 2319336 4957505 COST OF POWER 38488204 DISTRIBUTION - MAINTENA 6513878 DISTRIBUTION - OPERATIO 4975696 ADMINISTRATIVE AND GENE 2498691 2956051 64849335 1266414 1487798 1028 1030 5283806 5960378 276106 0 1245783 1263221 1665252 955086 160538175 50953070 106181724 109585105 15765046 16620799 131685159 135873417 7248383 7198158 911351 1490338 48518734 56215596 7900000 2500000 14133541 15978796 78712009 83382888 X 130095 131500 9425 9425 52833630 52349604 52973150 52490529 131685159 135873417 X 299915 -782536 X X 0 1 X 1 0 1089463 1089463 11209588 3868805 7340783 9037369 6809139 2228230 139201755 40275126 98926629 109585105 PATRONAGE CAPITAL - SEMINOLE ELECTRIC COOPERATIVE, INC. 13388869 C PATRONAGE CAPITAL - NRUCFC 578978 C CAPITAL TERM CERTIFICATES - NRUCFC 1067839 C PATRONAGE CAPITAL - NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 22083 C PATRONAGE CAPITAL - TRI-COUNTY ELECTRIC COOPERATIVE 14068 C PATRONAGE CAPITAL - COBANK 193131 C COOPERATIVE RESPONSE CENTER, INC. 11280 C PATRONAGE CAPITAL - GRESCO 929560 C PATRONAGE CAPITAL - FEDERATED 412997 C PATRONAGE CAPITAL - SEDC 1994 C 16620799 ACCRUED POSTRETIREMENT BENEFITS OBLIGATION 13285984 CONSUMER DEPOSITS 2692812 15978796 X 65491873 342623 342623 65149250 0 65149250 63597717 -554070 -554070 64151787 697548 697548 64849335 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 -3,730. PATRONAGE CAPITAL ALLOCATED DIFFERENCE BETWEEN BOOK/TAX 896,693. POSTRETIREMENT BENEFITS COSTS NETTED AGAINST NONOPERATING MARGINS -550,340. Part XII, Line 2d - Other Adjustments: HOMEGAURD EXPENSES NETTED AGAINST REVENUE -3,730. POSTRETIREMENT BENEFITS COSTS NETTED AGAINST NONOPERATING MARGINS -550,340. Part XII, Line 4b - Other Adjustments: BENEFITS PAID TO MEMBERS 697,548. X X X 0 0 0 BEN DAWSON VP, ENGINEERING & OPERATIONS 181322 0 2244 0 1205 0 41668 0 29801 0 256240 0 0 0 KIMBERLY BAXLEY VP, HUMAN RESOURCES 125170 0 1614 0 1401 0 21692 0 1238 0 151115 0 0 0 GEORGE BUCKNER CHIEF INFORMATION OFFICER 112709 0 1520 0 375 0 20218 0 24199 0 159021 0 0 0 JOEL D GEORGE EXECUTIVE VP/GENERAL MANAG 200333 0 2515 0 3609 0 24051 0 25520 0 256028 0 0 0 ROBERT D KREFTING VP FINANCE AND ACCOUNTING 128898 0 1687 0 2737 0 21744 0 13711 0 168777 0 0 0 TONY R WASSON VP MEMBER SERVICES 93938 0 1259 0 1288 0 35600 0 25507 0 157592 0 0 0 MICHAEL W JENKINS OPERATIONS SUPERINTENDENT 97911 0 1335 0 1992 0 50767 0 27742 0 179747 0 0 0 MATTHEW MILLER CREW SUPERVISOR 125566 0 1121 0 194 0 12161 0 22531 0 161573 0 0 0 JAMES BEAUCHAMP CREW SUPERVISOR 118334 0 1121 0 242 0 19439 0 25517 0 164653 0 0 0 RANDY J MIKELL FORMER TRUSTEE 17594 0 0 0 0 0 0 0 0 0 17594 0 0 0 SEMINOLE ELECTRIC COOPERATIVE INC DIRECTOR 38828868 PURCHASED POWERRANDY MIKELL, 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 APPLIED TECHNOLOGY SOLUTIONS INCSOUTHEASTERN DATA COOPERATIVE DIRECTOR 465431 IT SUPPORTSOUTHEASTERN DATA COOPERATIVE ACQUIRED APPLIED TECHNOLOGY SOLUTIONS, INC. (ATS) DURING 2017. DENNY GEORGE SERVED ON THE BOARD OF DIRECTORS. 0 FLORIDA RURAL SELF INSURED FUND DIRECTOR 158174 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 2,335,499. POSTRETIREMENT BENEFITS 550,340. TRANSMISSION 45,263. OTHER 14,416. TAXES 10,533. 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, 2019 ($697,548). Form 990, Part XI, line 9: OTHER COMPREHENSIVE LOSS -1,680,634. MEMBERSHIPS ISSUED, NET 1,405. ADDITIONAL BOOK PATRONAGE CAPITAL INCOME ALLOCATED 896,693. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO SIGNIFICANT CHANGES IN THE OVERSIGHT AND SELECTION PROCESSES IN THE PAST YEAR.