2014-02-22T11:26:34-06:00 2013-12-31 205857627 NICHOLSON & COMPANY PLLC P O DRAWER 15099 HATTIESBURG MS 394045099 990 2013-01-01 640219645 PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION PEAR 6017362666 POST OFFICE BOX 1217 COLUMBIA MS 39429 RANDY WALLACE GENERAL MANAGER 6017362666 2014-02-22 1 SUSAN A RILEY CPA P00144776 6012643519 2014-02-19 2013 2015-11-30 17:44:51Z RANDY WALLACE POST OFFICE BOX 1217 COLUMBIA MS 39429 122216595 0 X WWW.PRVEPA.COM X 1938 MS THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CUSTOMERS. 9 0 141 0 0 0 0 0 122249601 122114704 185918 79031 25013 22860 122460532 122216595 0 0 8807708 7535426 11092777 11301708 0 0 0 102202944 102364302 122103429 121201436 357103 1015159 205820984 214993439 135885812 130218168 69935172 84775271 THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CONSUMERS. 0 0 121201436 122216595 PRVEPA PROVIDED ELECTRIC POWER TO 47,581 CONSUMERS DURING 2013. 121201436 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 1 1 1 0 0 0 0 0 0 0 0 1 16 0 1 141 1 0 0 0 0 0 0 0 118895506 2157879 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 3.00 X 23750 0 0 BYRUS HURT DIRECTOR 8.00 X 23750 0 0 WA KENDRICK DIRECTOR 10.00 X 23150 0 0 LAVELL BOND DIRECTOR 8.00 X 23750 0 0 BF HUDSON JR VICE PRESIDENT 7.00 X 23450 0 0 HUGH GENE SMITH SECRETARY/TREAS 7.00 X 24350 0 0 KELLY SPEIGHTS DIRECTOR 6.00 X 23450 0 0 LAWRENCE W WARREN PRESIDENT 2.00 X 20550 0 0 DANNY WILKS DIRECTOR 10.00 X 23450 0 0 RANDY WALLACE GENERAL MANAGER 50.00 X 254228 0 35870 WILLIAM PITTMAN FINANCIAL MGR 50.00 X 109656 0 19591 SAM CAIN OPERATIONS MANAGER 50.00 X 186977 0 26394 MATTHEW WARE DISTRICT MANAGER 40.00 X 108998 0 22140 869509 0 103995 4 0 1 0 LOOKS GREAT SERVICES 259 RIVER ROAD COLUMBIA MS 39429 RIGHT OF WAY MAINT 2455846 MDR CONSTRUCTION 621 E BAYLIS CHAPEL ROAD COLUMBIA MS 39429 CONSTRUCTION 595850 CARSON LINE SERVICE PO BOX 505 LAUREL MS 39441 RIGHT OF WAY MAINT 309153 DUNGAN ENGINEERING 1574 HWY 98 EAST COLUMBIA MS 39429 CIVIL ENGINEERING 308892 HANCO CORPORATION PO BOX 17678 HATTIESBURG MS 39404 CONSTRUCTION 162777 8 ELECTRIC SALES MEMBER 221000 116390941 116390941 PATRONAGE CREDITS 221000 4649612 4649612 COMMON USE POLE RENTAL 221000 923151 923151 ELECTRIC PLANT LEASED 221000 151000 151000 122114704 73741 73741 5290 0 5290 5290 5290 METER SOCKET SALES 221000 18305 18305 MISCELLANEOUS INCOME 221000 4555 4555 22860 122216595 122216595 0 0 7535426 842364 5134695 2739431 2118796 466422 59817 116137 620459 140197 5127017 5652299 COST OF PURCHASED POWER 83438854 MAINTENANCE OF RIGHT-OF 2658878 MAINTENANCE OF OVERHEAD 763924 CONSUMER RECORDS & COLL 731394 3055326 121201436 2286653 2948925 12938900 15051664 2718575 2566962 297596 401513 218280268 66482028 149192758 151798240 38386502 42226135 205820984 214993439 28910119 20068097 103137864 106217632 3837829 3932439 135885812 130218168 X 332655 328116 608057 608057 68994460 83839098 69935172 84775271 205820984 214993439 X 1015159 13824940 X X 0 1 X 1 1 1 218280268 66482028 151798240 151798240 INTEREST & DIVIDEND INCOME REC 787620 PATRONAGE CAPITAL 41438515 42226135 CONSUMER DEPOSITS 3096810 UNEARNED LEASE INCOME 8417 UNAMORTIZED GAIN ON REACQUIRED DEBT 390980 OTHER LIABILITY-UNDERFUNDED POST RETIRE 351407 CURRENT PORTION-UNDERFUNDED POST RET 84825 3932439 X 122205478 0 122205478 11117 11117 122216595 113517958 0 113517958 7683478 7683478 121201436 PART X, LINE 2: ON JANUARY 1, 2010, THE ASSOCIATION 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 SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. IN EVALUATING THE ASSOCIATION'S TAX POSITIONS, THE ASSOCIATION BELIEVES THEIR ESTIMATES ARE APPROPRIATE BASED ON CURRENT FACT AND CIRCUMSTANCES AND THAT NO UNCERTAIN POSITIONS WERE TAKEN. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF METER SOCKET LEASED 11,117. PART XII, LINE 4B - OTHER ADJUSTMENTS: AMORT OF GAIN OF L. T. DEBT 136,935. COST OF METER SOCKET LEASED 11,117. PATRONAGE CAPITAL DSTRIB TO MEMBERS 7,535,426. SCHEDULE D, PART XI,LINE 4B COST OF METER SOCKETS LEASED 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, 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 254228 0 0 0 0 0 25686 0 10184 0 290098 0 0 0 SAM CAIN OPERATIONS MANAGER 186977 0 0 0 0 0 16210 0 10184 0 213371 0 0 0 HANCO CORPORATION COMPANY OWNED BY SON OF BOARD MEMBER 162777 BUILDING RENOVATIONS 0 WARREN PAVING INC COMPANY OWNED BY A BOARD MEMBER 81301 CONSTRUCTION OF PARKING LOT 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 5,287,805. DEFINED BENEFIT PLAN NET GAIN (LOSS) 8,404,739. CHANGE IN MEMBERSHIPS -4,539. 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.