2015-10-02T10:37:06-05:00 2015-06-30 621114363 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1200 MARKET STREET CHATTANOOGA TN 37402 990 2014-07-01 620395590 VOLUNTEER ENERGY COOPERATIVE VOLU 4233341020 P O BOX 277 DECATUR TN 37322 RODERICK R BLEVINS PRESIDENT/CEO 4233341020 2015-09-14 1 JERRY SMITH CPA P00104258 4237567771 2015-09-14 2014 2016-03-07 17:11:31Z RODERICK R BLEVINS 18359 HWY 58 NORTH DECATUR TN 37322 243668553 0 X WWW.VEC.ORG X 1935 TN TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO RURAL AREAS. THE COOPERATIVE SERVICES 113,068 CUSTOMERS. 12 12 155 0 0 0 0 0 240534310 239939618 1008487 900261 2798437 2828674 244341234 243668553 0 0 0 0 9763850 10397582 0 0 0 222228878 225901517 231992728 236299099 12348506 7369454 296689098 302520125 76491243 74870030 220197855 227650095 TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO RURAL AREA. THE COOPERATIVE SERVICES MORE THAN 113,068 CUSTOMERS. 0 0 236299099 TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO RURAL AREAS. THE COOPERATIVE SERVICES 113,068 CUSTOMERS. 236299099 0 0 0 0 0 0 0 0 0 1 0 0 0 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 1 0 0 0 1 37 0 1 155 1 0 0 0 0 0 0 0 239825120 3843433 0 X 12 12 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X MARK VERSTYNEN 4233347010 18359 HWY 58 NORTH DECATUR TN 37322 LANEY COLVARD JR CHAIRMAN 10.00 X 8625 0 0 LARRY STORIE VICE CHAIRMAN 5.00 X 11953 0 0 SAMMY NORTON SECRETARY/TREASURER 12.00 X 9825 0 0 AUBIE SMITH ASST. SECRETARY/TREASURER 12.00 X 11353 0 0 RANDY BOND DIRECTOR 10.00 X 6200 0 0 WILLIAM J CAMPBELL DIRECTOR 10.00 X 8825 0 0 SCOTT HUMBERD DIRECTOR 3.00 X 5200 0 0 MIKE FRAZIER DIRECTOR 10.00 X 7812 0 0 TIM HANDLER DIRECTOR 9.00 X 6400 0 0 JERRY HENLEY DIRECTOR 5.00 X 10625 0 0 DAVID J MILEN DIRECTOR 10.00 X 8625 0 0 KEITH PHILLIPS DIRECTOR 6.00 X 10753 0 0 RODERICK BLEVINS PRESIDENT/CEO 50.00 X 237185 0 64327 MARK VERSTYNEN VP OF ACCT AND FINANCE 50.00 X 105358 0 37490 CLYDE L JOLLEY VP - OPERATIONS 45.00 X 134683 0 45665 LOUIS M DELORENZO AREA MANAGER 50.00 X 124163 0 45001 BOBBY G RANDOLPH AREA MANAGER 45.00 X 131375 0 28833 PAUL KILLIAN WORKING/SUBFOREMAN 62.00 X 130864 0 39680 969824 0 260996 6 0 1 0 SEELBACK AND CO INC PO BOX 987 LAWRENCEVILLE GA 30046 RIGHT OF WAY CLEARING 3871182 SERVICE ELECTRIC COMPANY PO BOX 277790 ATLANTA GA 30384 LINE CONSTRUCTION 2665968 MPS INC PO BOX 3178 CLEVELAND TN 37320 LINE CONSTRUCTION 1495329 GALLOWAY CONSTRUCTION LLC PO BOX 69 SUNBRIGHT TN 37872 LINE CONSTRUCTION 1477849 SUPERIOR FORESTRY PO BOX 25 TILLY AR 72679 POLE INSPECTION 528495 9 SALE OF ELECTRIC ENERGY 221000 236044010 236044010 CONNECTION FEES, ETC 221000 1479511 1479511 CUSTOMERS' FORFEITED DISCOUNTS 221000 1441806 1441806 PROPANE SALES 221000 712059 712059 NATURAL GAS SALES 221000 141244 141244 120988 120988 239939618 900261 900261 2698521 0 2698521 2698521 2698521 PATRONAGE REFUND 221000 130153 130153 130153 243668553 243668553 0 0 583419 9814163 42588 76343 1424891 1693289 14501694 COST OF POWER 192075975 DISTRIBUTION EXPENSE 12198617 ADMINISTRATIVE AND GENE 6530315 CUSTOMER ACCOUNTS EXPEN 3887173 -6529368 236299099 33228452 30086974 40000 30000 17583671 23505522 6458638 6387163 3718338 3722416 420677328 187318542 230850418 233358786 4809581 5429264 296689098 302520125 18445113 19207692 31486737 28127298 26559393 27535040 76491243 74870030 X 430550 434580 0 0 219767305 227215515 220197855 227650095 296689098 302520125 X 7369454 82786 X X 0 1 X 1 0 2672004 2672004 17523310 5108380 12414930 386738322 182210162 204528160 13743692 13743692 233358786 ACCUMULATED COMPENSATED ABSENCES 2031482 CUSTOMER DEPOSITS 4755536 POSTRETIREMENT BENEFITS 3712300 ADVANCES FROM TVA 5993055 ACCRUED PENSION COST 10236287 OTHER CURRENT LIABILITIES 806380 27535040 X 243668553 0 243668553 0 243668553 236299099 0 236299099 0 236299099 PART X, LINE 2: NOTE 21 UNCERTAIN TAX POSITIONS EFFECTIVE JULY 1, 2009, THE COOPERATIVE IMPLEMENTED THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF ASC TOPIC 740, INCOME TAXES (PREVIOUSLY FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AN INTERPRETATION OF FASB STATEMENT NO. 109). THE ADOPTION OF FASB ASC 740 DID NOT HAVE A MATERIAL IMPACT ON THE COOPERATIVE'S FINANCIAL STATEMENTS. THE COOPERATIVE HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE, AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS. THE COOPERATIVE'S EVALUATION WAS PERFORMED FOR TAX YEARS ENDED JUNE 30, 2012 THROUGH JUNE 30, 2015, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2015. PART VI, LINE 1E OTHER INVESTMENTS - LAND, BUILDINGS AND EQUIPMENT: THIS AMOUNT IS MADE UP OF CONSTRUCTION WIP PART XI, LINE 8: INCREASE IN MEMBER FEES $ 4,030 MINIMUM PENSION LIABILITY ADJUSTMENT 9,477 POST RETIREMENT BENEFIT LIABILITY ADJUSTMENT 69,279 TOTAL OTHER $ 82,786 X X 0 0 0 RODERICK BLEVINS PRESIDENT/CEO 237185 0 0 0 0 0 44531 0 19796 0 301512 0 0 0 CLYDE L JOLLEY VP - OPERATIONS 134683 0 0 0 0 0 25442 0 20223 0 180348 0 0 0 LOUIS M DELORENZO AREA MANAGER 124163 0 0 0 0 0 23426 0 21575 0 169164 0 0 0 BOBBY G RANDOLPH AREA MANAGER 131375 0 0 0 0 0 11112 0 17721 0 160208 0 0 0 PAUL KILLIAN WORKING/SUBFOREMAN 130864 0 0 0 0 0 23131 0 16549 0 170544 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 VOLUNTEER ENERGY COOPERATIVE HAS 113,808 MEMBERS THAT IT PROVIDES ELECTRICITY TO. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF VOLUNTEER ENERGY COOPERATIVE ELECT THE BOARD MEMBERS ANUALLY THROUGH A DEMOCRATIC PROCESS. FORM 990, PART VI, SECTION B, LINE 11 THE INDEPENDENT CPA FIRM THAT PREPARES THE FORM WILL REVIEW THE 990 WITH THE BOARD OF DIRECTORS BEFORE IT IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST QUESTIONNAIRE FORM IS SENT OUT TO THE BOARD OF DIRECTORS, THE VICE PRESIDENTS, AND THE AREA MANAGERS TO SIGN EACH YEAR. ALSO, MAJOR PURCHASES OF $10,000 OR MORE MUST BE APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION FOR OFFICERS OF VEC ON AN ANNUAL BASIS. THE OFFICERS DETERMINE THE COMPENSATION FOR THE REST OF THE STAFF. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST TO THE LOCAL OFFICE. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON A WRITTEN REQUEST TO THE PRESIDENT/CEO. FORM 990, PART XI, LINE 9: MINIMUM PENSION LIABILITY ADJUSTMENT 9,477. INCREASE IN MEMBERSHIP FEES 4,030. POST RETIREMENT BENEFIT LIABILITY ADJUSTMENT 69,279. FORM 990, PART XII, LINE 2C: AUDIT OVERSIGHT PROCESS REMAINS UNCHANGED FROM THE PRIOR YEAR. PG. 10, PART IX, LINE 24E, OTHER EXPENSES FOR PRESENTATION PURPOSES, $10,049,023 WAS RECLASSIFIED TO SALARIES AND WAGES TO GIVE A MORE ACCURATE FIGURE. A LARGE AMOUNT OF SALARIES IS CAPITALIZED INTO PLANT DURING THE YEAR WHICH LEAVES THE SALARIES AND WAGES EXPENSE AMOUNT UNDERSTATED. SINCE WE RECLASSIFIED THIS AMOUNT ON PART IX, OTHER EXPENSES SHOWS A NEGATIVE BALANCE. VOLUNTEER ENERGY PROPANE LLC PO BOX 277 DECATUR TN 37322 621794721 SALE OF PROPANE GAS AND EQUIPMENT TN VOLUNTEER ENERGY COOPERATIVE VOLUNTEER ENERGY NATURAL GAS INC PO BOX 277 DECATUR TN 37322 760715251 NATURAL GAS SALES TN VOLUNTEER ENERGY COOPERATIVE