2019-10-03T16:10:19-05:00 2018-12-31 582475857 NICHOLS CAULEY & ASSOCIATES LLC 1300 BELLEVUE AVENUE DUBLIN GA 310214152 990 2018-01-01 590188973 CENTRAL FLORIDA ELECTRIC COOPERATIVE INC CENT 8002271302 PO BOX 9 CHIEFLAND FL 326440009 ROBERT D KREFTING CFO 3524936910 2019-09-11 1 CAL BRANTLEY CPA P00636393 4782751163 2019-09-11 64.88.174.3 2019-09-11 07:47:43 US P 2BBE3A465ADA004519C03ECEA6212B386192D2C2 6B8F72386B27B09CB7A363C3DD18D6DB319F288E 2018 2019-02-21 02:37:17Z DENNY GEORGE PO BOX 9 CHIEFLAND FL 326440009 66530908 0 X WWW.CFEC.COM X 1939 FL See Schedule O 9 9 107 0 0 0 0 0 64016114 66364987 29687 162171 4500 3750 64050301 66530908 0 0 1064761 1064245 1270275 1939793 0 0 0 60560861 62208000 62895897 65212038 1154404 1318870 129210669 131685159 79746737 78712009 49463932 52973150 SEE SCHEDULE O 0 0 SALE OF ELECTRICITY TO APPROXIMATELY 25,000+ 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 0 107 1 0 0 0 0 0 65497211 287973 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 RANDY MIKELL TRUSTEE/VICE-PRESIDENT 5.00 X X 23348 0 0 KYLE QUINCEY TRUSTEE 5.00 X 34113 0 0 TONY WEEKS TRUSTEE 4.00 X 32277 0 0 DONALD LANE TRUSTEE 5.00 X 29069 0 0 ALAN MIKELL TRUSTEE/SECRETARY-TREASURE 7.00 X X 28948 0 0 KENNETH O'STEEN TRUSTEE 4.00 X 35437 0 0 CARL ROOF SR TRUSTEE 4.00 X 12620 0 0 BARBARA TOWNSEND TRUSTEE/PRESIDENT 6.00 X X 15100 0 0 JAMES MCCAIN TRUSTEE 4.00 X 13250 0 0 BEN DAWSON CHIEF OPERATING OFFICER 40.00 X 181276 0 71671 KIMBERLY BAXLEY MANAGER OF HR 40.00 X 121343 0 10395 GEORGE BUCKNER CHIEF INFORMATION OFFICER 40.00 X 111744 0 44286 JOEL D GEORGE EXECUTIVE VP/GENERAL MANAG 40.00 X 95881 0 20767 ROBERT D KREFTING VP FINANCE AND ACCOUNTING 40.00 X 81507 0 25187 TONY R WASSON VP MEMBER SERVICES 40.00 X 97673 0 63779 STEVEN STUDSTILL SUPERVISOR 56.00 X 120642 0 51253 MICHAEL W JENKINS SUPERVISOR 40.00 X 100374 0 85283 EDWIN D RUTH STAKING TECH 40.00 X 103240 0 44984 MATTHEW MILLER SUPERVISOR 40.00 X 125188 0 32919 DUSTIN JONES SERVICE TECHNICIAN 40.00 X 107047 0 13925 DANIEL M CAMPBELL EXECUTIVE VP/GENERAL MANAG 40.00 X 290579 0 88879 EDDIE F THOMAS CHIEF FINANCIAL OFFICER 40.00 X 167816 0 4224 1928472 0 557552 10 1 1 0 THE DAVEY TREE EXPERTS CO PO BOX 709 KENT OH 442400709 MAINTENANCE 1564219 MUSGROVE CONSTRUCTION INC PO BOX 825124 PHILADELPHIA PA 191825124 CONTRACTOR 1107037 AUBREY SILVEY ENTERPRISES INC 371 HAMP JONES RD CARROLLTON GA 301179492 CONTRACTOR 860074 ABC PROFESSIONAL TREE SERVICE 201 FLINT RIDGE ROAD WEBSER TX 77598 MAINTENANCE 350743 SEDC 100 ASHFORD CENTER NORTH STE 500 ATLANTA GA 303384865 CONTRACTOR 342010 12 Sale of Energy 221000 65619263 65619263 Qualified Pole Rental 221000 745724 745724 66364987 161771 161771 3750 0 3750 3750 3750 400 0 400 400 400 66530908 65619663 0 911245 X 1064245 1928472 11321 2351109 4759970 COST OF POWER 39620813 DISTRIBUTION - MAINTENA 6265593 DISTRIBUTION - OPERATIO 4549637 CONSUMER ACCOUNTS 2889421 1771457 65212038 1742894 1266414 1025 1028 6150561 5283806 562428 276106 1274280 1245783 1659932 1665252 154894478 48712754 102705249 106181724 15114300 15765046 129210669 131685159 7902388 7248383 1530382 911351 51271590 48518734 3500000 7900000 15542377 14133541 79746737 78712009 X 128770 130095 9425 9425 49325737 52833630 49463932 52973150 129210669 131685159 X 1318870 2190348 X X 0 1 X 1 0 1058863 1058863 11053673 3533805 7519868 8733674 6284525 2449149 134048268 38894424 95153844 106181724 PATRONAGE CAPITAL - SEMINOLE ELECTRIC COOPERATIVE, INC. 12584869 C PATRONAGE CAPITAL - NRUCFC 576656 C CAPITAL TERM CERTIFICATES - NRUCFC 1075852 C PATRONAGE CAPITAL - NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 22696 C PATRONAGE CAPITAL - TRI-COUNTY ELECTRIC COOPERATIVE 14068 C PATRONAGE CAPITAL - COBANK 208461 C COOPERATIVE RESPONSE CENTER, INC. 12844 C PATRONAGE CAPITAL - GRESCO 882272 C PATRONAGE CAPITAL - FEDERATED 387228 C PATRONAGE CAPITAL - SEDC 100 C 15765046 ACCRUED POSTRETIREMENT BENEFITS OBLIGATION 11250899 CONSUMER DEPOSITS 2882642 14133541 X 67187296 656388 656388 66530908 0 66530908 64141852 -5941 -5941 64147793 1064245 1064245 65212038 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 -5,941. PATRONAGE CAPITAL ALLOCATED DIFFERENCE BETWEEN BOOK/TAX 662,329. Part XII, Line 2d - Other Adjustments: HOME GUARD EXPENSE NETTED AGAINST REVENUE -5,941. Part XII, Line 4b - Other Adjustments: BENEFITS PAID TO MEMBERS 1,064,245. X X X 0 0 0 BEN DAWSON CHIEF OPERATING OFFICER 176571 0 3555 0 1150 0 42596 0 29075 0 252947 0 0 0 GEORGE BUCKNER CHIEF INFORMATION OFFICER 109020 0 2377 0 347 0 21097 0 23189 0 156030 0 0 0 TONY R WASSON VP MEMBER SERVICES 94433 0 1954 0 1286 0 38592 0 25187 0 161452 0 0 0 STEVEN STUDSTILL SUPERVISOR 118104 0 2076 0 462 0 25556 0 25697 0 171895 0 0 0 MICHAEL W JENKINS SUPERVISOR 96337 0 2077 0 1960 0 58215 0 27068 0 185657 0 0 0 MATTHEW MILLER SUPERVISOR 123280 0 1728 0 180 0 10534 0 22385 0 158107 0 0 0 DANIEL M CAMPBELL EXECUTIVE VP/GENERAL MANAG 282903 0 0 0 7676 0 78112 0 10767 0 379458 0 0 0 EDDIE F THOMAS CHIEF FINANCIAL OFFICER 164672 0 0 0 3144 0 3412 0 812 0 172040 0 0 0 SEMINOLE ELECTRIC COOPERATIVE INC DIRECTOR 38917859 PURCHASED POWERRANDY MIKELL, TONY WEEKS, DANIEL M. CAMPBELL (RETIRED IN JUNE 2018) 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 361162 IT SUPPORTEDDIE F. THOMAS (RETIRED IN JUNE 2018) WAS A MEMBER OF THE BOARD OF DIRECTORS OF APPLIED TECHNOLOGY SOLUTIONS, INC. (ATS) AND IS LISTED IN PART VII OF FORM 990. SOUTHEASTERN DATA COOPERATIVE ACQUIRED ATS DURING 2017. SUBSEQUENT TO THE ACQUISITION DATE, DANIEL M. CAMPBELL (RETIRED IN JUNE 2018) AND DENNY GEORGE HAVE SERVED ON THE BOARD OF DIRECTORS. 0 FLORIDA RURAL SELF INSURED FUND DIRECTOR 121219 INSURANCEDANIEL M. CAMPBELL (RETIRED IN JUNE 2018) AND DENNY GEORGE WERE MEMBERS OF THE BOARD OF DIRECTORS OF FLORIDA RURAL SELF INSURED FUND AND ARE LISTED IN PART VII OF FORM 990. 0 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION (NRUCFC) DIRECTOR 1284804 FINANCIAL SERVICESDANIEL M. CAMPBELL WAS A MEMBER OF THE BOARD OF DIRECTORS OF NRUCFC (RETIRED IN JUNE 2018) AND IS LISTED IN PART VII OF FORM 990. 0 Form 990, Part I, Line 1 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 1,697,467. ALL OTHER EXPENSES 73,990. 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, 2018 ($1,064,245). Form 990, Part XI, line 9: OTHER COMPREHENSIVE INCOME 1,526,694. MEMBERSHIPS ISSUED, NET 1,325. ADDITIONAL BOOK PATRONAGE CAPITAL INCOME ALLOCATION 662,329. Form 990, Part XII, Line 2c: THERE HAVE BEEN NO SIGNIFICANT CHANGES IN THE OVERSIGHT AND SELECTION PROCESSES IN THE PAST YEAR.