2015-11-16T15:07:30-06:00 2014-12-31 PRICEWATERHOUSECOOPERS LLP 1100 WALNUT SUITE 1300 KANSAS CITY MO 64106 990 2014-01-01 740524729 BRAZOS ELECTRIC POWER COOPERATIVE INC % MS KHAKI BORDOVSKY BRAZ 2547506500 7616 BAGBY AVE WACO TX 76712 CLIFTON KARNEI EXECUTIVE VP & GEN MNGR 2547506500 2015-11-15 true SALVATORE MONTALBANO P00666833 8164727921 2015-11-16 2014 2016-03-07 17:11:31Z CLIFTON KARNEI 7616 BAGBY AVE WACO TX 76712 1116541512 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 16 358 1773 0 0 0 940767491 1096931361 5859869 13953877 -2732460 5631399 943894900 1116516637 0 0 0 0 32970853 32860489 0 0 0 836860850 1017849372 869831703 1050709861 74063197 65806776 2959150321 3108877107 2385893664 2469823865 573256657 639053242 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 238 0 true 358 true true true false false false false false false false false 1056816049 59523465 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 X MS KHAKI BORDOVSKY 2547506500 7616 BAGBY AVE WACO TX 76712 DENNIS MCWHORTER PRESIDENT 19.0 0.5 X X 58038 1000 0 RICK HAILE VICE PRESIDENT 8.0 0.5 X X 0 0 0 AUDIE MORRIS SECRETARY-TREASURER 8.0 0.5 X X 28400 1000 0 STEVE YOUNG DIRECTOR 0.0 0.0 X 0 0 0 HARRY BRADFORD DIRECTOR 6.0 0.0 X 30218 1000 0 RICK ICKERT DIRECTOR 6.0 0.0 X 31992 0 0 GLEN JONES DIRECTOR 8.0 0.0 X 36922 1000 0 LARRY BAYS DIRECTOR 6.0 0.5 X 29325 0 0 LARRY CORBETT DIRECTOR 6.0 0.0 X 34973 1000 0 JAMES CALHOUN DIRECTOR 5.0 0.0 X 27278 0 0 BILLY JONES DIRECTOR 8.0 0.0 X 27253 0 0 GEORGE THEISS DIRECTOR 8.0 0.0 X 30473 0 0 MONTY CARLISLE DIRECTOR 1.0 0.0 X 30742 0 0 JORDAN WOOD DIRECTOR 8.0 0.0 X 30796 0 0 JACK PICKETT DIRECTOR 1.0 0.0 X 28890 0 0 MELVIN HOOPER DIRECTOR 1.0 0.0 X 0 0 0 NEIL HESSE DIRECTOR 6.0 0.0 X 0 0 0 BRYAN LIGHTFOOT DIRECTOR 2.0 0.0 X 3000 0 0 CLIFTON KARNEI EXEC VP & GEN MGR 51.0 3.0 X 825661 0 377964 KHAKI BORDOVSKY VP - SERVICES 44.0 3.0 X 370011 0 169906 JOHNNY YORK VP - TRANSMISSION 44.0 0.0 X 362248 0 450263 JOSH CLEVENGER VICE PRESIDENT-POWER SUPPLY 46.0 0.0 X 329861 0 138198 MARK FAGAN CHIEF RISK OFFICER 47.0 0.0 X 324139 0 43927 CHUCK ESTES JACK CO II PROJECT MANAGER 40.0 0.0 X 190466 0 225203 JEFF NOTTINGHAM PLANT MANAGER 43.0 0.0 X 182373 0 161507 ANTHONY KROSKEY MANAGER TRANSMISSION SYSTEM OP 44.0 0.0 X 169560 0 171941 ROD LITTLE MANAGER NETWORK SERVICES 43.0 0.0 X 176620 0 52498 KYLE MINNIX MANAGER COMMUNICATIONS 44.0 0.0 X 183169 0 70337 CLYDE GEER DIRECTOR 5.0 0.0 X 31105 0 0 3573513 5000 1861744 92 true true false WHITE CONSTRUCTION COMPANY 2705 BEE CAVES ROAD SUITE 250 AUSTIN TX 78746 GENERATION CONSTRUCT 13916371 GENERAL ELECTRIC INTERNATIONAL 4200 WILDWOOD PARKWAY ATLANTA GA 30339 GENERATION CONSTRUCT 9519041 KDM CONSTRUCTION 1531 COOTERS POINT ROAD GILBERT LA 71336 TRANSMISSION CONSTRU 4745028 SIEMENS ENERGY INC DEPT CH 10169 PALATINE IL 600550169 GENERATION CONSTRUCT 4241872 SEGREST SEGREST PC 28015 WEST HIGHWAY 84 MCGREGOR TX 76657 LEGAL SERVICES 1890160 63 0 ELEC ENRGY SERVICE 221000 1092709637 1092709637 ANCILLARY SERVICES 221000 814209 814209 SALE OF EXCESS NATURAL GAS 221000 3278407 3278407 MISCELLANEOUS ELECTRIC REVENUE 221000 129108 129108 1096931361 13867512 13867512 0 101003 101003 177123 0 177123 177123 177123 109467 23102 86365 86365 86365 0 0 1773 1773 1773 1773 WORK FOR OTHERS 221000 752977 752977 PATRONAGE CAPITAL 221000 2173670 2173670 CARTRIDGE TRANS 541519 60000 60000 2364853 2364853 5351500 1116516637 1099918008 1773 16596856 0 0 0 0 2640220 0 20482428 3731964 4357971 1647906 0 2351900 160380 0 0 0 0 6586 328664 0 0 5591498 1914676 0 194225 82644463 0 70819329 3407089 FUEL 242195787 MAINT - PRODUCTION - NOT LABOR 28505688 PURCHASED POWER 516234203 TAXES, PROPERTY & OTHER 15429731 48065153 1050709861 1428857 1868952 264037979 286676217 0 0 101479268 94019686 0 0 0 0 0 0 64214768 63974040 262361509 386398817 2714128504 557100632 2149925413 2157027872 0 0 0 0 0 0 0 0 115702527 118911523 2959150321 3108877107 80164563 67199922 0 0 0 0 0 0 0 0 0 0 2143830470 2214448838 0 0 161898631 188175105 2385893664 2469823865 X 95 95 0 0 573256562 639053147 573256657 639053242 2959150321 3108877107 X 65806776 -10191 X false true X true false 2672330928 557100632 2115230296 41797576 41797576 2157027872 0 ACCRUED TAXES 15129566 ACCRUED INTEREST 7392790 ACCUMULATED OPERATING PROVISIO 76928861 OTHER CURRENT AND ACCRUED LIAB 52318814 OBLIGATIONS - CAPITAL LEASES 1123243 DEFERRED CREDITS 35281831 188175105 1115765558 1115765558 751079 751079 1116516637 1049968973 1049968973 740888 740888 1050709861 PART XI, LINE 4B & PART XII, LINE 4B JOBBING EXPENSE 740,888 PART XI, LINE 4B ACES LLC K-1 10,191 X X false false false CLIFTON KARNEI EXEC VP & GEN MGR 794801 0 26852 0 4008 0 353950 0 24014 0 1203625 0 CLYDE GEER DIRECTOR 31105 0 0 0 0 0 0 0 0 0 31105 0 KHAKI BORDOVSKY VP - SERVICES 313444 0 55595 0 972 0 151353 0 18553 0 539917 0 JOHNNY YORK VP - TRANSMISSION 307325 0 52302 0 2621 0 431998 0 18265 0 812511 0 JOSH CLEVENGER VICE PRESIDENT-POWER SUPPLY 277631 0 50977 0 1253 0 120164 0 18034 0 468059 0 CHUCK ESTES JACK CO II PROJECT MANAGER 175408 0 11248 0 3810 0 214560 0 10643 0 415669 0 JEFF NOTTINGHAM PLANT MANAGER 169975 0 11139 0 1259 0 144733 0 16774 0 343880 0 MARK FAGAN CHIEF RISK OFFICER 283318 0 40298 0 523 0 26000 0 17927 0 368066 0 ANTHONY KROSKEY MANAGER TRANSMISSION SYSTEM OP 157178 0 11175 0 1207 0 161699 0 10242 0 341501 0 ROD LITTLE MANAGER NETWORK SERVICES 163504 0 12655 0 461 0 35651 0 16847 0 229118 0 KYLE MINNIX MANAGER COMMUNICATIONS 171958 0 10582 0 629 0 53654 0 16683 0 253506 0 BRAZOS SANDY CREEK ELECTRIC COOPERA SUBSIDIARY 2100000 CAPITAL CONTRIBUTIONS false BRAZOS SANDY CREEK ELECTRIC COOPERA SUBSIDIARY 81382 PERFORMANCE OF SERVICES false BRAZOS SANDY CREEK ELECTRIC COOPERA SUBSIDIARY 24723 REIMBURSEMENT OF EXPENSES false BRAZOS FUEL COMPANY SUBSIDIARY 399 PERFORMANCE OF SERVICES false BRAZOS FUEL COMPANY SUBSIDIARY 68 REIMBURSEMENT OF EXPENSES false BRAZOS SANDY CREEK ELECTRIC COOPERA SUBSIDIARY 23962381 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 Watson Wyatt 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 Watson Wyatt 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 X, RELATES TO INCOME/(LOSS) RECEIVED FROM A PASS-THROUGH ENTITY SCHEDULE K-1. SCHEDULE L PART IV LINE 7 & SCHEDULE R PART V LINE 2A-D (6) TRANSACTION WITH RELATED ORGANIZATION THIS TRANSACTION OF $23,962,381 WITH THE RELATED ORGANIZATION BRAZOS SANDY CREEK ELECTRIC COOPERATIVE, A SUBSIDIARY, IS THE PURCHASE OF POWER. BRAZOS SANDY CREEK ELECTRIC COOPERATIVE 7616 BAGBY AVE WACO TX 76712 870806881 GENERATE POWE TX 501(c)(12) NA false BRAZOS FUEL COMPANY INC PO BOX 2585 Waco TX 767022585 741787410 FUEL PRODUCTS TX NA C CORP 0 77297 1.00000 false false true false false false false true false false false true false false false false true false false BRAZOS SANDY CREEK ELECTRIC COOPERATIVE B 2100000 CASH PAYMENTS BRAZOS SANDY CREEK ELECTRIC COOPERATIVE L 81382 CASH PAYMENTS BRAZOS SANDY CREEK ELECTRIC COOPERATIVE Q 24723 CASH PAYMENTS BRAZOS FUEL COMPANY L 399 CASH PAYMENTS BRAZOS FUEL COMPANY Q 68 CASH PAYMENTS BRAZOS SANDY CREEK ELECTRIC COOPERATIVE H 23962381 CASH PAYMENTS