2016-07-31T21:54:17-05:00 2015-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2015-01-01 850092965 CENTRAL NEW MEXICO ELECTRIC COOPERATIVE INC CENT 5058324483 PO BOX 157 MOUNTAINAIR NM 87036 JERRY BRITTON PRESIDENT 5058324483 2016-07-27 1 William M Miller P00439459 8067473806 2016-07-27 X 2015 2016-12-15 16:53:06Z MATTHEW COLLINS PO BOX 157 MOUNTAINAIR NM 87036 34969849 0 X WWW.CNMEC.ORG X 1945 NM TO PROVIDE HIGH QUALITY ELECTRIC SERVICES TO ITS MEMBERS ON A COOPERATIVE BASIS. 8 8 77 0 80486 13410 0 0 34967086 34385067 310279 334958 326030 188468 35603395 34908493 20510 24270 2279555 1808384 5090400 5227500 0 0 0 28212930 27848339 35603395 34908493 0 0 119659448 116067451 87309424 81860312 32350024 34207139 THE COOPERATIVE IS ORGANIZED AS A NOT-FOR-PROFIT CONSUMER-OWNED COOPERATIVE TO PROVIDE HIGH QUALITY ELECTRIC SERVICES TO ITS MEMBERS BY PARTICIPATING IN THE COMMUNITY IT SERVES THROUGH COMMUNICATIONS, EDUCATION AND PERSONAL INVOLVEMENT. 0 0 SALE OF ELECTRIC POWER TO MEMBERS - 17,760 METERS/SERVICES AT YEAR END. ALL SERVICES THAT WERE ACTIVE DURING THE YEAR WERE PROVIDED ELECTRIC POWER AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 44 0 77 1 1 1 0 0 0 0 33946405 636500 0 X 8 8 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X ALENA BRANDENBERGER (CFO) 5058324483 301 N SUMMIT MOUNTAINAIR NM 87036 X JERRY BRITTON PRESIDENT 3.75 1.00 X X 11407 0 0 DUANE FROST VICE PRESIDENT 2.75 1.00 X X 11709 0 0 WAYNE CONNELL TREASURER 3.50 1.00 X X 11414 0 0 KENNETH SHAW SECRETARY 3.00 1.00 X X 11709 0 0 PHILLIP WALLIN ASSISTANT SECRETARY 2.25 1.00 X X 11709 0 0 LEANDRO ABEYTA TRUSTEE 8.50 1.00 X 13813 0 0 BILL KING TRUSTEE 4.25 1.00 X 11615 0 0 MIKE VALDEZ TRUSTEE 2.75 1.00 X 11709 0 0 MATTHEW COLLINS GENERAL MANAGER / CEO 40.00 X 141547 0 50521 ALENA BRANDENBERGER CFO 40.00 X 90612 0 44181 WELDON BRATCHER LINE FOREMAN 40.00 X 112007 0 19568 TRAVIS BURNS LINE FOREMAN 40.00 X 116490 0 42093 JEREMIAH KECK JOURNEYMAN 40.00 X 104529 0 24489 ERNEST LUERAS LINE FOREMAN 40.00 X 116827 0 40894 SHELDON ROBERTS LINE FOREMAN 40.00 X 104879 0 41111 881976 0 262857 7 0 1 0 QSPEC 9550 SAN MATEO BLVD NE STE G ALBUQUERQUE NM 87113 UTILITY CONSTRUCTION CONTRACTOR 3543899 ABB PO BOX 88868 CHICAGO IL 60695 UTILITY CONSTRUCTION CONTRACTOR 383446 NISC PO BOX 1147 MANDAN ND 58554 SOFTWARE 330037 RODEY DICKASON SLOAN AKIN & ROBB PA PO BOX 1888 ALBUQUERQUE NM 58554 LEGAL SERVICES 192418 CARIBOU INC 124 BRIDON WAY JEROME ID 83338 UTILITY CONSTRUCTION CONTRACTOR 128751 7 X ELECTRIC SALES 221000 33098795 33098795 PATRONAGE DIVIDENDS 221000 1021013 1021013 SERVICE FEES 221000 235127 235127 TRANSMISSION LEASE 221000 30132 30132 34385067 343289 343289 48000 1200 10039 0 37961 1200 39161 37961 1200 230 8561 -8331 -8331 -8331 36950 42756 -5806 -5806 DISPATCHING INCOME 561499 79286 79286 JOINT POLE ATTACHMENT INCOME 221000 75827 75827 155113 34908493 34417222 80486 410785 X 24270 1808384 421946 3094156 439409 1011432 260557 3582813 3264469 COST OF PURCHASED POWER 17401769 DISTRIBUTION EXPENSE 1466971 ADMIN. & GENERAL 1381476 UNRELATED BUSINESS INC 2500 748341 34908493 X 2637439 4339230 18500000 12500000 1844184 2134682 1372759 1301837 114670568 35846238 79153007 78824330 10877461 11823028 5274598 5144344 119659448 116067451 2976044 2711379 79954225 76837109 4379155 2311824 87309424 81860312 X 0 0 0 0 32350024 34207139 32350024 34207139 119659448 116067451 X 0 1857115 X X 0 1 X 0 0 382566 382566 5596204 1863357 3732847 107412221 33982881 73429340 1279577 1279577 78824330 CAPITAL TERM CERTIFICATES 160572 C MEMBERSHIPS FEES 2114 C PATRONAGE CAPITAL - TSG&T 10899882 C PATRONAGE CAPITAL - CFC 341401 C PATRONAGE CAPITAL - FEDERATED INSURANCE 184928 C PATRONAGE CAPITAL - ENMR 81418 C PATRONAGE CAPITAL - NISC 90140 C PATRONAGE CAPITAL - WUESC 48376 C PATRONAGE CAPITAL - TOUCHSTONE ENERGY 195 C OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS 14002 C 11823028 CONSUMER DEPOSITS 414431 DEFERRED CREDITS 1390427 ACCUMULATED PROVISION FOR POST-RETIREMENT BENEFITS 147629 ACCRUED PROPERTY AND OTHER TAXES 319767 OVERBILLED DEBT COST ADJUSTMENT 39570 2311824 X 34839782 0 34839782 68711 68711 34908493 33031398 0 33031398 1877095 1877095 34908493 Part X, Line 2: THE COOPERATIVE HAS ADOPTED THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE, AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. Part XI, Line 4b - Other Adjustments: NONOPERATING EXPENSE RECLASSIFIED TO FORM 990 PART IX 68,711. Part XII, Line 4b - Other Adjustments: NONOPERATING EXPENSE RECLASSIFIED TO FORM 990 PART IX 68,711. PATRONAGE CAPITAL ASSIGNABLE 1,808,384. SCHEDULE D, PART XII, LINE 4B: PATRONAGE CAPITAL ASSIGNABLE - FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID OR ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN THE "NON-PROFIT OPERATION" ARTICLE OF THE COOPERATIVE'S BYLAWS. 0 TORRANCE COUNTY FAIR PO BOX 48/205 NINTH STREET ESTANCIA NM 87016 856000257 GOVERNMENT 5844 FMV LIVESTOCK SHOW AWARDS CONTRIBUTION SCH I ALL GRANTS, SPONSORSHIPS AND DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA. ALL DONATIONS ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. X 1 1 X X 0 0 0 MATTHEW COLLINS GENERAL MANAGER / CEO 109738 0 29033 0 2776 0 32829 0 17692 0 192068 0 0 0 TRAVIS BURNS LINE FOREMAN 116490 0 0 0 0 0 25198 0 16895 0 158583 0 0 0 ERNEST LUERAS LINE FOREMAN 116827 0 0 0 0 0 24991 0 15903 0 157721 0 0 0 Part I, Line 1a THE BOARD APPROVED BUDGET INCLUDES A $2,000 DISCRETIONARY SPENDING ACCOUNT TO BE USED AND/OR DONATED BY THE CEO. SUCH EXPENDITURES OR DONATIONS ARE SOLELY AT THE CEO'S DISCRETION. Form 990, Part VI, Section A, line 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. Form 990, Part VI, Section A, line 7a THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF TRUSTEES. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. Form 990, Part VI, Section A, line 7b THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE; 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION; 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS; 4. AMENDMENT TO THE ARTICLES OF INCORPORATION; AND 5. AMENDMENT TO THE BY-LAWS. Form 990, Part VI, Section A, line 8b FROM TIME TO TIME THE ENTIRE BOARD WILL GO INTO EXECUTIVE SESSION FOR DISCUSSING ITEMS OF A SENSITIVE AND CONFIDENTIAL NATURE. WHEN THIS OCCURS MANAGEMENT AND OTHERS IN ATTENDANCE ARE REMOVED FROM THE MEETING ROOM. ITEMS DISCUSSED IN EXECUTIVE SESSION ARE NOT DOCUMENTED. HOWEVER, ACTIONS TAKEN BY THE BOARD AFTER EXECUTIVE SESSIONS ARE ADJOURNED ARE FULLY DOCUMENTED IN THE WRITTEN MINUTES. Form 990, Part VI, Section B, line 11 MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING. THE DISCUSSION AND REVIEW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE THE FILING OF THE FORM 990. Form 990, Part VI, Section B, line 12c THE COOPERATIVE REQUIRES EACH BOARD MEMBER TO REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY AND SIGN OFF THAT THEY HAVE REVIEWED AND UNDERSTAND THE RESPECTIVE POLICY. Form 990, Part VI, Section B, line 15 THE BOARD OF TRUSTEES AND A COMPENSATION COMMITTEE USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER/CEO. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN NEW MEXICO AND THE NATION. THE GENERAL MANAGER/CEO USES A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE ORGANIZATION'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER. THE SURVEY INCLUDES SALARIES FROM SIMILAR COOPERATIVES THROUGHOUT NEW MEXICO AND THE NATION. Form 990, Part VI, Section C, line 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. THE COOPERATIVE PROVIDES ANNUALLY A COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. BYLAWS ARE AVAILABLE ON THE COOPERATIVE'S WEBSITE. Form 990, Part VII, Column F IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE ORGANIZATION HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. AS PART OF THE PLAN DOCUMENT, THE ORGANIZATION PROVIDES A MATCHING CONTRIBUTION OF $.25 PER DOLLAR UP TO 5% OF A PARTICIPATING EMPLOYEE'S SALARY. THE COOPERATIVE ALSO MAKES CONTRIBUTIONS TO THE 401(K) PLAN BASED ON THE EMPLOYEES YEARS OF SERVICE: 2-9 YEARS OF SERVICE THE COOPERATIVE CONTRIBUTES 5% OF WAGES, 10-14 YEARS THE COOPERATIVE CONTRIBUTES 10% OF WAGES, 15-19 YEARS THE COOPERATIVE CONTRIBUTES 20% OF WAGES, AND 20 YEARS OR MORE THE COOPERATIVE CONTRIBUTES 25% OF WAGES. THESE EMPLOYER CONTRIBUTIONS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE ORGANIZATION ALSO PROVIDES HEALTH, DENTAL, VISION AND LIFE INSURANCE TO ALL EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS THE TOTAL AMOUNT CONTRIBUTED BY THE ORGANIZATION TO THE PENSION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. THE ORGANIZATION ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE PER PERSON VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. Form 990, Part VIII, Line 2B PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE ORGANIZATION TO ITS MEMBERS. Form 990, Part IX THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED FOR ELECTRIC BORROWERS OF THE RURAL UTILITIES SERVICES (RUS). THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1 - 23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THE ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1 - 23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. Form 990, Part IX, Lines 5-7 SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $3,516,102 LESS DIRECTORS FEES REPORTED ON 1099-MISC (95,085) LESS EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (94,702) PLUS SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGINS 37,171 PLUS SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 652,273 PLUS SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING OR OTHER ACCOUNTS 735,332 TOTAL WAGES ACCRUED AND/OR PAID $4,751,091 Form 990, Part IX, Line 24 ADMINISTRATIVE AND GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: OFFICE AND SUPPLIES $ 475,631 OUTSIDE SERVICES 238,632 INJURIES AND DAMAGES 148,534 EMPLOYEE AWARDS 3,467 REGULATORY COMMISSION 153,563 TRUSTEE EXPENSE 80,151 ADVERTISING 15,862 ANNUAL DUES 135,079 ANNUAL MEETING 17,746 MAINTENANCE OF GENERAL PLANT 112,811 TOTAL ADMINISTRATIVE AND GENERAL EXPENSE PER 990 $ 1,381,476 Form 990, Part IX, Line 24E OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: CUSTOMER SERVICE EXPENSE $ 496,561 TRANSMISSION EXPENSE 44,921 AMORTIZATION 140,648 DISPATCH CENTER EXPENSES 66,211 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 748,341 FORM 990, PART IX, LINE 4 PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2015 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART X, LINES 17 AND 25 THE COOPERATIVE PREVIOUSLY INCLUDED ACCRUED EXPENSES (COMPRISED OF (1) ACCRUED PAYROLL AND COMPENSATED ABSENCES, (2) ACCRUED PAYROLL TAXES AND (3) ACCRUED INTEREST) AS COMPONENTS OF OTHER LIABILITIES ON LINE 25 OF PART X. HOWEVER, FOR THE 2015 CALENDAR YEAR, THE COOPERATIVE BEGAN REPORTING THESE AMOUNTS ON LINE 17. TO INCREASE CONSISTENCY, ACCRUED EXPENSES IN THE AMOUNT OF $680,307 FOR THE 2014 CALENDAR YEAR HAVE BEEN RECLASSIFIED FROM LINE 25 TO LINE 17. Form 990, Part XI, line 9: OTHER COMPREHENSIVE INCOME - PROVISION FOR PENSIONS AND BENEFITS 48,731. PATRONAGE CAPITAL ASSIGNABLE 1,808,384. Form 990, Part XII Line 2C THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR. CENTRAL NEW MEXICO ELECTRIC EDUCATION FOUNDATION PO BOX 157 MOUNTAINAIR NM 87036 850366030 TO PROVIDE COLLEGE SCHOLARSHIPS TO MEMBERS OF THE COOPERATIVE NM 501(C)(3) PF CENTRAL NEW MEXICO ELECTRIC COOPERATIVE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 CENTRAL NEW MEXICO ELECTRIC EDUCATION FOUNDATION - NA - LESS THAN 50000 O SCHEDULE R, PART V, LINE 1(N) THE COOPERATIVE KEEPS THE BOOKS FOR CENTRAL NEW MEXICO ELECTRIC EDUCATION FOUNDATION AT NO COST TO THE FOUNDATION.