2018-11-15T15:53:59-06:00 2017-12-31 PRICEWATERHOUSECOOPERS LLP 1100 WALNUT SUITE 1300 KANSAS CITY MO 64106 990 2017-01-01 740524729 BRAZOS ELECTRIC POWER COOPERATIVE INC % MS KHAKI BORDOVSKY BRAZ 2547506500 7616 BAGBY AVE WACO TX 76712 CLIFTON KARNEI EXECUTIVE VP 2018-11-14 true SALVATORE MONTALBANO P00666833 8164727921 155.201.188.33 43603320183195000003 2018-11-15 P A26BFBD8E326E8485443F99EB743A2AC5D9715A6 05B676A26CC14337A5C93FFF477AD43E9C32428D 2017 2019-02-21 02:37:17Z CLIFTON KARNEI 7616 BAGBY AVE WACO TX 76712 907590482 false X www.brazoselectric.com X 1941 TX TO PROVIDE VALUED SERVICE TO OUR MEMBERS AND CUSTOMERS BY GENERATING, PROCURING, AND TRANSMITTING RELIABLE POWER AT THE LOWEST COST. 16 16 404 0 0 0 0 852026272 889041920 13946153 10732361 5367909 5566680 871340334 905340961 0 0 0 0 34865272 37248668 0 0 0 768131910 809336473 802997182 846585141 68343152 58755820 3159350306 3171300381 2406726646 2379942098 752623660 791358283 X TO PROVIDE VALUED SERVICE TO OUR MEMBERS AND CUSTOMERS BY GENERATING, PROCURRING, AND TRANSMITTING RELIABLE POWER AT THE LOWEST COST. WE WILL PROVIDE EXCELLENT CUSTOMER SERVICE WHILE PRACTICING THE HIGHEST DEGREE OF INTEGRITY. THE MEMBERS, CUSTOMERS, AND EMPLOYEES ARE BRAZOS ELECTRIC COOPERATIVE'S MOST VALUED ASSETS. false false BRAZOS ELECTRIC COOPERATIVE WAS FORMED FOR THE PURPOSE OF FURNISHING DEPENDABLE AND ECONOMICAL WHOLESALE ELECTRIC POWER AND ENERGY FOR RURAL DISTRIBUTION COOPERATIVES. BRAZOS SERVES SIXTEEN MEMBER COOPS AND ONE MUNICIPALITY. false false false false false false false false false true false false false true false true true false false false false false false false false false false false true false false false false false true false false false false false true true true false true 179 0 true 404 true false false false false false 873688334 31464084 false X 16 16 false false false false true true false true true false false true true true true true true true true false AZ CA IN RI X MS KHAKI BORDOVSKY 2547506500 7616 BAGBY AVE WACO TX 76712 JORDEN WOOD DIRECTOR 7.0 0.0 X 29477 0 0 GLENN JONES DIRECTOR 7.0 1.0 X 32622 1000 0 JAMES CALHOUN DIRECTOR 5.0 0.5 X 25982 0 0 LARRY BAYS DIRECTOR 7.0 0.5 X 29027 0 0 LARRY CORBETT DIRECTOR 7.0 1.0 X 30363 1000 0 HARRY BRADFORD DIRECTOR 4.0 1.0 X 28924 1000 0 MONTY CARLISLE DIRECTOR 6.0 0.5 X 29425 0 0 RICK HAILE VICE PRESIDENT 4.0 2.0 X X 0 0 0 RICK ICKERT DIRECTOR 6.0 0.5 X 27619 0 0 BILLY JONES DIRECTOR 8.0 0.5 X 24600 0 0 DENNIS MCWHORTER PRESIDENT 15.0 1.0 X X 29708 1000 0 AUDIE MORRIS SECRETARY-TREASURER 7.0 1.0 X X 30054 1000 0 STEVE YOUNG DIRECTOR 2.0 0.5 X 0 0 0 JIM PENNINGTON DIRECTOR 7.0 0.5 X 31375 0 0 WILLIAM ALLEN DIRECTOR 5.0 0.5 X 12809 0 0 WILLIAM RAGSDALE DIRECTOR 5.0 0.5 X 29605 0 0 CLIFTON KARNEI EXEC VP & GEN MGR 44.5 3.5 X 842283 0 372412 KHAKI BORDOVSKY VP - SERVICES 41.5 3.5 X 382178 0 138152 JOHNNY YORK VP - TRANSMISSION 45.0 0.0 X 376055 0 328979 JOSH CLEVENGER VICE PRESIDENT-POWER SUPPLY 26.0 18.0 X 347218 0 144795 TRAVIS THRALL VP - GENERATION 45.0 0.0 X 249633 0 56808 SHARI HEINO CHIEF COMPLIANCE OFFICER 44.0 0.0 X 209839 0 48345 ANTHONY KROSKEY MANAGER TRANSMISSION SYSTEM OP 45.0 0.0 X 175218 0 142759 ROD LITTLE MANAGER NETWORK SERVICES 42.0 0.0 X 184816 0 68193 KYLE MINNIX MANAGER COMMUNICATIONS 43.0 0.0 X 169352 0 111314 CARL CURRY PLANT MANAGER 44.0 0.0 X 165908 0 61282 JEFFREY STEBBINS MANAGER TRANSMISSION MAINT. 42.0 0.0 X 161439 0 32325 3655529 5000 1505364 115 false true false HARGRAVE POWER INCORPORATED PO BOX 849828 DALLAS TX 75284 TRANSMISSION CONSTRU 1869762 GENERAL ELECTRIC INTERNATIONAL 4200 WILDWOOD PARKWAY ATLANTA GA 30339 GENERATION MAINTENAN 6272538 NORTH AMERICAN ENERGY SERVICES 831 SPARKS DRIVE CLEBURNE TX 76031 PLANT OPERATIONS 3281846 SIEMENS ENERGY INC DEPT CH 10169 PALATINE IL 600550169 GENERATION MAINTENAN 7568600 PROENEGRY SERVICES LLC PO BOX 677066 DALLAS TX 75267 PLANT MAINTENANCE 2574746 67 X 0 ELEC ENRGY SERVICE 221000 887119052 887119052 ANCILLARY SERVICES 221000 788805 788805 SALE OF EXCESS NATURAL GAS 221000 398550 398550 MISCELLANEOUS ELECTRIC REVENUE 221000 148601 148601 TRANSMISSION EXPORT REVENUE 221000 586912 586912 889041920 12886234 12886234 0 503119 503119 167821 0 167821 167821 167821 95649 2249521 -2153872 -2153873 -2153873 0 0 0 0 0 0 0 0 0 WORK FOR OTHERS 1019891 1019891 PATRONAGE CAPITAL 532820 532820 EQUITY IN EARNINGS OF SUBSIDIARY 3343029 3343029 4895740 905340961 906823894 -1482933 0 0 0 0 2798797 0 23299383 3895400 5446110 1808978 0 917951 241175 0 0 0 0 56150 335882 0 0 4349363 2257082 0 317648 73304381 0 75366249 3254833 FUEL 91297371 MAINT - PRODUCTION - NOT LABOR 35246997 PURCHASED POWER 451390254 TAXES, PROPERTY & OTHER 14097480 56903657 846585141 3157917 3458433 294056422 350296495 0 0 81033941 80569948 0 0 0 0 0 0 65126355 72873943 460594391 433918408 2890160839 766910937 2154591176 2123249902 0 0 0 0 0 0 0 0 100790104 106933252 3159350306 3171300381 52021465 61362141 0 0 0 0 0 0 0 0 0 0 2177712107 2116487997 0 0 176993074 202091960 2406726646 2379942098 X 95 95 0 0 752623565 791358188 752623660 791358283 3159350306 3171300381 X 58755820 -20021197 X false true X true false 2855015364 766910937 2088104427 35145475 35145475 2123249902 0 ACCRUED TAXES 7297304 ACCRUED INTEREST 17533603 ACCUMULATED OPERATING PROVISIO 62696251 OTHER CURRENT AND ACCRUED LIAB 31635861 OBLIGATIONS - CAPITAL LEASES 65139 DEFERRED CREDITS 82863802 202091960 904366698 904366698 974263 974263 905340961 845631599 845631599 953542 953542 846585141 PART XI, LINE 4B JOBBING REVENUE 953,542 PART XI, LINE 4B ACES LLC K-1 20,721 PART XII, LINE 4B JOBBING EXPENSE 953,542 X X false false false CLIFTON KARNEI EXEC VP & GEN MGR 791183 0 27717 0 23383 0 327075 0 45337 0 1214695 0 KHAKI BORDOVSKY VP - SERVICES 312423 0 68193 0 1562 0 109699 0 28453 0 520330 0 JOHNNY YORK VP - TRANSMISSION 301426 0 64389 0 10240 0 303249 0 25730 0 705034 0 JOSH CLEVENGER VICE PRESIDENT-POWER SUPPLY 280595 0 60728 0 5895 0 109549 0 35246 0 492013 0 ANTHONY KROSKEY MANAGER TRANSMISSION SYSTEM OP 153045 0 11007 0 11166 0 129771 0 12988 0 317977 0 ROD LITTLE MANAGER NETWORK SERVICES 171624 0 12364 0 828 0 38537 0 29656 0 253009 0 KYLE MINNIX MANAGER COMMUNICATIONS 153936 0 10939 0 4477 0 83061 0 28253 0 280666 0 TRAVIS THRALL VP - GENERATION 208216 0 36684 0 4733 0 25673 0 31135 0 306441 0 CARL CURRY PLANT MANAGER 150572 0 10954 0 4382 0 33111 0 28171 0 227190 0 SHARI HEINO CHIEF COMPLIANCE OFFICER 178116 0 31165 0 558 0 21578 0 26767 0 258184 0 JEFFREY STEBBINS MANAGER TRANSMISSION MAINT. 160296 0 25 0 1118 0 12522 0 19803 0 193764 0 BRAZOS SANDY CREEK ELECTRIC COOPERA SUBSIDIARY 60000 PERFORMANCE OF SERVICES false BRAZOS SANDY CREEK ELECTRIC COOPERA SUBSIDIARY 224 REIMBURSEMENT OF EXPENSES false BRAZOS SANDY CREEK ELECTRIC COOPERA SUBSIDIARY 86367446 PURCHASE OF POWER false PART VI SECTION B LINE 12C WRITTEN CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS THE DIRECTORS FILL OUT A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM. ON A MONTHLY BASIS THE BOARD IS PROVIDED A SCHEDULE OF PAYMENTS MADE FOR SERVICES AND GOODS PROVIDED THE COOPERATIVE. PART VI SECTION C LINE 19 DOCUMENTS AVAILABLE TO THE PUBLIC THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. PART VI SECTION A LINE 6 ORGANIZATION MEMBERS BRAZOS ELECTRIC IS OWNED BY 16 MEMBER ELECTRIC DISTRIBUTION COOPERATIVES. PART VI SECTION A LINE 7A ELECTING MEMBERS OF THE GOVERNING BODY EACH MEMBER ELECTS THEIR REPRESENTATIVE TO SERVE AS A DIRECTOR ON THE BRAZOS ELECTRIC POWER COOPERATIVE BOARD. PART VI SECTION B LINE 11A FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED BY PRICEWATERHOUSECOOPERS. IT IS THEN REVIEWED BY THE MANAGER OF FISCAL SERVICES AND CONTROLLER; VICE PRESIDENT, SERVICES; AND THE EXECUTIVE VICE PRESIDENT AND GENERAL MANAGER BEFORE IT IS PRESENTED TO THE FINANCE AND AUDIT COMMITTEE OF THE BRAZOS BOARD FOR ITS REVIEW PRIOR TO ITS SUBMISSION TO THE IRS. PART VI SECTION B LINE 15 PROCESS OF DETERMINING COMPENSATION OF KEY OFFICIALS CEO pay is determined by the Brazos Electric Board along with wage survey information that is provided by Willis Towers Watson for CEO salaries. Each Board member fills out a performance evaluation on the CEO and then the Board members meet to discuss what the increase should be based off performance and tenure in the position. The 16 member Board is responsible for deciding on the pay of the CEO for Brazos Electric. Vice President pay is determined based on 2 components. Each Vice President's job title is placed in a Salary Grade based off wage survey studies Willis Towers Watson have performed. Individual increases are based on performance, tenure and position within the Salary Grade. The CEO of Brazos Electric is responsible for evaluating increases for Vice Presidents. PAGE 12 PART XI LINE 9 OTHER CHANGES IN NET ASSETS. THE ADDITIONAL CHANGE IN NET ASSETS PER PART XI, RELATES TO INCOME/(LOSS) RECEIVED FROM A PASS-THROUGH ENTITY SCHEDULE K-1 AND RETIREMENT OF PATRONAGE CAPITAL DURING THE YEAR. SCHEDULE L PART IV LINE 3 & SCHEDULE R PART V LINE 2A-D (3) TRANSACTION WITH RELATED ORGANIZATION THIS TRANSACTION OF $86,367,446 WITH THE RELATED ORGANIZATION BRAZOS SANDY CREEK ELECTRIC COOPERATIVE, A SUBSIDIARY, IS THE PURCHASE OF POWER. PAGE 12 PART XI LINE 9 THE ADDITIONAL CHANGE IN NET ASSETS PER PART XI RELATES TO RETIREMENT OF PATRONAGE CAPITAL DURING THE YEAR. BRAZOS SANDY CREEK ELECTRIC COOPERATIVE 7616 BAGBY AVE WACO TX 76712 870806881 GENERATE POWE TX 501(c)(12) BRAZOS ELECT true BRAZOS FUEL COMPANY INC PO BOX 2585 Waco TX 767022585 741787410 FUEL PRODUCTS TX BRAZOS ELECTRIC C CORP -9924 47345 1.00000 false false false false false false false true false false false true false false false false true false false BRAZOS SANDY CREEK ELECTRIC COOPERATIVE L 60000 CASH PAYMENTS BRAZOS SANDY CREEK ELECTRIC COOPERATIVE H 86367446 CASH PAYMENTS