2015-02-24T20:36:50-06:00 2014-12-31 205857627 NICHOLSON & COMPANY PLLC P O DRAWER 15099 HATTIESBURG MS 394045099 990 2014-01-01 640219645 PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION PEAR 6017362666 POST OFFICE BOX 1217 COLUMBIA MS 39429 RANDY WALLACE GENERAL MANAGER 6017362666 2015-02-24 1 SUSAN A RILEY CPA P00144776 6012643519 2015-02-16 2014 2016-02-25 16:41:14Z RANDY WALLACE POST OFFICE BOX 1217 COLUMBIA MS 39429 127449390 0 X WWW.PRVEPA.COM X 1938 MS THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CUSTOMERS. 9 0 138 0 0 0 0 0 122114704 127008574 79031 418530 22860 22286 122216595 127449390 0 0 7535426 5984681 11301708 10453746 0 0 0 102364302 111538483 121201436 127976910 1015159 -527520 214993439 218073076 130218168 138032912 84775271 80040164 THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CONSUMERS. 0 0 127062075 127449390 PRVEPA PROVIDED ELECTRIC POWER TO 47,951 CONSUMERS DURING 2014. 127062075 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 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 18 0 1 138 1 0 0 0 0 0 0 0 125197219 2631222 0 X 9 0 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X RANDY WALLACE 6017362666 HIGHWAY 13 NORTH COLUMBIA MS 39429 JJ SHELTON III DIRECTOR 4.00 X 23750 0 0 BYRUS HURT DIRECTOR 5.00 X 23750 0 0 WA KENDRICK DIRECTOR 6.00 X 24950 0 0 LAVELL BOND DIRECTOR 6.00 X 26450 0 0 BF HUDSON JR VICE PRESIDENT 7.00 X 26150 0 0 HUGH GENE SMITH SECRETARY/TREAS 7.00 X 26150 0 0 KELLY SPEIGHTS DIRECTOR 7.00 X 23750 0 0 LAWRENCE W WARREN PRESIDENT 5.00 X 23500 0 0 DANNY WILKS DIRECTOR 13.00 X 24050 0 0 RANDY WALLACE GENERAL MANAGER 50.00 X 266942 0 38291 WILLIAM PITTMAN FINANCIAL MGR 50.00 X 120768 0 20616 SAM CAIN OPERATIONS MANAGER 50.00 X 197457 0 25738 MATTHEW WARE DISTRICT MANAGER 40.00 X 108998 0 22351 ANTHONY HARRIS DISTRICT MANAGER 40.00 X 110168 0 22772 KEITH ARMSTRONG MATERIALS MANAGER 40.00 X 105761 0 22774 FREDA DYESS ADMINISTRATIVE SERVICES MANAGER 40.00 X 102907 0 13248 GEORGE CUTRER DISTRICT MANAGER 40.00 X 100512 0 22895 1336013 0 188685 8 0 1 0 LOOKS GREAT SERVICES 1501 HIGHWAY 13 NORTH COLUMBIA MS 39429 RIGHT OF WAY MAINT 4684057 MDR CONSTRUCTION 621 E BAYLIS CHAPEL ROAD COLUMBIA MS 39429 CONSTRUCTION 379690 DUNGAN ENGINEERING 1574 HWY 98 EAST COLUMBIA MS 39429 CIVIL ENGINEERING 289856 ALLRED ARCHITECTURAL GROUP 628 WASHINGTON AVENUE SUITE C OCEAN SPRINGS MS 39564 CONSTRUCTION 279449 SOUTHEAST WOODLAND SERVICES 431 CAINES LANDING RD CONWAY SC 29526 RIGHT OF WAY MAINT 131329 5 ELECTRIC SALES MEMBER 221000 121887040 121887040 PATRONAGE CREDITS 221000 4028962 4028962 COMMON USE POLE RENTAL 221000 951989 951989 ELECTRIC PLANT LEASED 221000 140583 140583 127008574 77120 77120 341410 0 341410 341410 341410 METER SOCKET SALES 221000 18883 18883 MISCELLANEOUS INCOME 221000 3403 3403 22286 127449390 127449390 0 0 5984681 892312 5117898 1626672 2326004 490860 59497 121989 665695 130633 5283292 5829903 COST OF PURCHASED POWER 90111661 MAINTENANCE OF RIGHT-OF 5106322 CONSUMER RECORDS & COLL 825167 MAINTENANCE OF OVERHEAD 720907 2683417 127976910 2948925 2520048 15051664 12455661 2566962 2535072 401513 312754 225256216 70446071 151798240 154810145 42226135 45439396 214993439 218073076 11618820 11145802 106217632 105960012 12381716 20927098 130218168 138032912 X 328116 324630 608057 608057 83839098 79107477 84775271 80040164 214993439 218073076 X -527520 -4207587 X X 0 1 X 1 0 225256216 70446071 154810145 154810145 INTEREST & DIVIDEND INCOME REC 813342 PATRONAGE CAPITAL 44626054 45439396 CONSUMER DEPOSITS 3319769 OTHER LIABILITY-POST RETIREMENT BENEFIT-PENSION 16909634 UNAMORTIZED GAIN ON REACQUIRED DEBT 254046 OTHER LIABILITY-UNDERFUNDED POST RETIRE 408798 CURRENT PORTION-UNDERFUNDED POST RET 27434 UNEARNED LEASE ICOME-CHARTER 7417 20927098 X 127437857 0 127437857 11533 11533 127449390 121843761 0 121843761 6133149 6133149 127976910 PART X, LINE 2: THE ASSOCIATION HAS ADOPTED THE PROVISIONS OF FASB ASC 740, INCOME TAXES. FASB ASC 740 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND THE RECOGNITION OF SUCH INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE ASSOCIATION'S INCOME TAX RETURNS. THE ASSOCIATION'S INCOME TAX RETURNS ARE NO LONGER SUBJECT TO EXAMINATION BY THE IRS FOR YEARS PRIOR TO 2011. IN EVALUATING THE ASSOCIATION'S TAX POSITIONS, THE ASSOCIATION BELIEVES THEIR ESTIMATES ARE APPROPRIATE BASED ON CURRENT FACTS AND CIRCUMSTANCES AND THAT NO UNCERTAIN POSITIONS WERE TAKEN. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF METER SOCKET LEASED 9,596. COST OF SURGE PROTECTOR EQUIPMENT 1,937. PART XII, LINE 4B - OTHER ADJUSTMENTS: AMORT OF GAIN OF L. T. DEBT 136,935. PATRONAGE CAPITAL DSTRIB TO MEMBERS 5,984,681. COST OF METER SOCKET LEASED 9,596. COST OF SURGE PROTECTOR EQUIPMENT 1,937. SCHEDULE D, PART XI,LINE 4B COST OF METER SOCKETS LEASED AND SURGE PROTECTOR EQUIPMENT ARE INCLUDED ON THE TAX RETURN BUT NOT INCLUDED IN THE FINANCIAL STATEMENTS FOR GAAP PURPOSES. SCHEDULE D, PART XII,LINE 4B AMORTIZATION OF A GAIN ON LONG TERM DEBT, COST OF METER SOCKETS LEASED, SURGE PROTECTOR EQUIPMENT AND PATRONAGE CAPITAL DISTRIBUTIONS TO MEMBERS ARE EXPENSES INCLUDED ON THE TAX RETURN BUT NOT INCLUDED IN THE FINANCIAL STATEMENTS FOR GAAP PURPOSES. X X 0 0 0 RANDY WALLACE GENERAL MANAGER 266942 0 0 0 0 0 27924 0 10367 0 305233 0 0 0 SAM CAIN OPERATIONS MANAGER 197457 0 0 0 0 0 15371 0 10367 0 223195 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ANY NATURAL PERSON, FIRM ASSOCIATION, CORPORATION, BUSINESS TRUST, PARTNERSHIP OR BODY POLITIC SHALL BE ELIGIBLE TO BECOME A MEMBER OF, AND, AT ONE OR MORE PREMISES OWNED OR DIRECTLY OCCUPIED OR USED BY HIM, TO RECEIVE ELECTRIC SERVICE FROM PEARL RIVER VALLEY ELECTRIC POWER. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER WHO IS NOT IN A STATUS OF SUSPENSION, AS PROVIDED FOR IN SECTION 2.01 OF THE ASSOCIATION'S BYLAWS, SHALL BE ENTITLED TO ONLY ONE VOTE UPON EACH MATTER SUBMITTED TO A VOTE AT ANY MEETING OF THE MEMBERS. AT EACH ANNUAL MEETING OF THE MEMBERS, DIRECTORS SHALL BE ELECTED BY SECRET BALLOT BY THE MEMBERS WHO ARE NATURAL PERSONS. FORM 990, PART VI, SECTION B, LINE 11 LINE 11A EXPLANATION - THE MANAGER OF ACCOUNTING AND FINANCIAL SERVICES PROVIDES THE INDEPENDENT AUDITORS WITH INFORMATION USED IN PREPARING THE FORM 990. THE COMPLETED FORM IS THEN REVIEWED BY THE MANAGER OF ACCOUNTING AND FINANCIAL SERVICES AND BY THE GENERAL MANAGER. THE GENERAL MANAGER THEN PRESENTS THE FORM 990 TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C A QUESTIONNAIRE IS SENT ANNUALLY TO ALL EMPLOYEES REQUESTING INFORMATION REGARDING POSSIBLE CONFLICTS OF INTEREST. THESE QUESTIONNAIRES ARE REVIEWED BY THE GENERAL MANAGER. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE GENERAL MANAGER IS DETERMINED BY USING COMPARABILITY DATA AND IS APPROVED BY THE BOARD OF DIRECTORS. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED USING COMPARABILITY DATA,IS INITITALLY APPROVED AND RECOMMENDED BY THE GENERAL MANAGER, AND IS THEN GIVEN FINAL APPROVAL BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON REQUEST. FORM 990, PART XI, LINE 9: GAIN ON REACQUISTION OF DEBT 136,935. DIFFERENCE BETWEEN PATRONAGE CAPITAL AND ALLOCATION 3,541,893. DEFINED BENEFIT PLAN NET GAIN (LOSS) -7,221,633. CHANGE IN MEMBERSHIPS -3,486. INTEREST RATE SWAP NET GAIN/(LOSS) -661,296. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS ACTS AS THE AUDIT COMMITTEE AND ASSUMES RESPONSIBILITY FOR THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.