2013-10-25T07:58:48-05:00 2013-06-30 621114363 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1200 MARKET STREET CHATTANOOGA TN 37402 990 2012-07-01 630182345 SAND MOUNTAIN ELECTRIC COOPERATIVE SAND 2566382153 402 MAIN ST WEST RAINSVILLE AL 35986 MARK MALONE 2566382153 2013-10-22 1 JERRY SMITH CPA P00104258 4237567771 2013-10-22 2012 2016-02-25 16:41:14Z MARK MALONE 402 MAIN STREET WEST RAINSVILLE AL 35986 72090418 0 X WWW.SMEC.COOP X 1940 AL THE COOPERATIVE PROVIDES ELECTRICITY TO ITS MEMBERS 9 9 81 0 0 0 0 0 69514540 70746780 333834 370009 928334 973629 70776708 72090418 0 0 0 0 5595496 6057094 0 0 0 62557717 63033788 68153213 69090882 2623495 2999536 98321481 109415215 47673723 55872861 50647758 53542354 TO PROVIDE ELECTRIC SERVICE TO THE PEOPLE IN RURAL AREAS AT THE LOWEST COST POSSIBLE, CONSISTENT WITH SOUND BUSINESS PRACTICES. 0 0 69090882 TO PROVIDE ELECTRICITY TO ITS 30,700 CONSUMERS. 69090882 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 0 0 0 0 1 49 0 1 81 1 0 0 0 0 0 70746780 1343638 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARK MALONE 2566382153 402 MAIN STREET WEST RAINSVILLE AL 35986 JAMES P CARMICHAEL 4.50 X 18660 0 0 LARRY G GODWIN 4.00 X 24189 0 0 R LEE BAILEY 4.00 X 23208 0 0 LEO BOMIAN 3.00 X 21818 0 0 DAVID HENDERSON 3.00 X 18448 0 0 JERRY MASON 4.00 X 16776 0 0 ROLAND HENDON 3.00 X 21198 0 0 JAMIE BOWMAN 3.00 X 19248 0 0 RAYMOND LONG 3.00 X 22198 0 0 MIKE SIMPSON 50.00 X X 188075 0 107747 MARK MALONE 50.00 X X 131851 0 36245 KEVIN ANDERSON 50.00 X 128271 0 53547 BOYD GRABEN 50.00 X 113678 0 58358 BILLY MYERS 46.00 X 101028 0 35248 DIANE B HALE 50.00 X 107357 0 56753 BILLY R CLANTON 50.00 X 107256 0 38259 ORVILLE HUGHES 0.00 X 10568 0 0 1073827 0 386157 7 1 1 0 BUFORD'S TREE INC 4230 CHOCTAW TRAIL ANNISTON AL 36206 RIGHT OF WAY CLEARING 848322 SERVICE ELECTRIC CO INC P O BOX 3656 CHATTANOOGA TN 37404 ELECTRIC CONSTRUCTION 628492 BLACKOAK SERVICES INC P O BOX 2192 RAINSVILLE AL 35986 METER READING SERVICES 338122 SOUTHEASTERN DATA COOPERATIVE INC 100 ASHFORD CENTER NORTH SUITE 500 ATLANTA GA 30338 DATA PROCESSING SERVICES 322344 PATTERSON & DEWAR ENGINC P O BOX 2808 NORCROSS GA 30091 ENGINEERING SERVICES 145012 6 ELECTRIC SALES 221000 70746780 70746780 70746780 370009 370009 973629 0 973629 973629 973629 72090418 72090418 0 0 505669 5551425 1581639 3731659 123198 COST OF POWER 50986227 DISTRIBUTION - MAINTENA 2763556 DISTRIBUTION - OPERATIO 2581057 TAX EXPENSE 2380988 -1114536 69090882 758697 1204783 9168006 8459532 817871 506516 1014710 6417046 130960179 42058166 82354825 88902013 2346211 2396146 1861161 1529179 98321481 109415215 12057276 11254693 27206741 40023685 3801514 0 4608192 4594483 47673723 55872861 X 462815 461700 0 0 50184943 53080654 50647758 53542354 98321481 109415215 X 2999536 -104940 X X 0 1 X 1 0 150374 150374 3171602 1057943 2113659 124256810 41000223 83256587 3381393 3381393 88902013 CUSTOMER DEPOSITS 2574027 POSTRETIREMENT BENEFIT OBLIGATION 2020456 4594483 X 72090418 0 72090418 0 72090418 69090882 0 69090882 0 69090882 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: NOTE 11 UNCERTAIN TAX POSITIONS EFFECTIVE JANUARY 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, WHICH IS AN INTERPRETATION OF FASB STATEMENT NO. 109). THE ADOPTION OF FASB ASC 740 DID NOT HAVE A MATERIAL IMPACT ON THE COOPERATIVES 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 COOPERATIVES EVALUATION WAS PERFORMED FOR TAX YEARS ENDED JUNE 30, 2010 THROUGH JUNE 30, 2013, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS JUNE 30, 2013. OTHER FIXED ASSETS IS MADE UP OF CONSTRUCTION AND RETIREMENT WORK IN PROGRESS PART XI, LINE 9 - CHANGES IN NET ASSETS: DECREASE IN CAPITAL STOCK (MEMBERSHIPS) $ (1,115) OTHER COMPREHENSIVE LOSS - APBO (103,825) TOTAL TO SCHEDULE D, PART X1, LINE 9 $ (104,940) X X X 0 0 0 MIKE SIMPSON 188075 0 0 0 0 0 106218 0 1529 0 295822 0 0 0 MARK MALONE 131851 0 0 0 0 0 34716 0 1529 0 168096 0 0 0 KEVIN ANDERSON 128271 0 0 0 0 0 35988 0 17559 0 181818 0 0 0 BOYD GRABEN 113678 0 0 0 0 0 40799 0 17559 0 172036 0 0 0 DIANE B HALE 107357 0 0 0 0 0 39194 0 17559 0 164110 0 0 0 ORVILLE HUGHES 10568 0 0 0 0 0 0 0 0 0 10568 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS 30,700 CONSUMERS THAT IT PROVIDES ELECTRICITY TO. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF SAND MOUNTAIN ELECTRIC COOPERATIVE ELECT THE BOARD OF DIRECTORS THROUGH A DEMOCRATIC PROCESS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS DECISIONS ARE LIMITED TO ELECTION OF TRUSTEES AND CHANGING BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S BOARD OF DIRECTORS WILL REVIEW THE 990 BEFORE SUBMITTING IT TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C KEY EMPLOYEES AND TRUSTEES ARE REQUIRED TO FILL OUT TWO SEPARATE QUESTIONNAIRES ANNUALLY DISCLOSING ANY CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS SETS THE GENERAL MANAGER'S COMPENSATION SEPARATELY FROM THE OTHER EMPLOYEES AFTER REVIEWING AREA (ALABAMA RURAL ELEC. ASSOC.) SALARY SURVEYS. THE GM HAS A WRITTEN EMPLOYMENT CONTRACT. THE OTHER OFFICERS, KEY EMPLOYEES (LISTED MANAGERS) SALARY IS SET BY THE BOARD WITH A RECOMMENDATION FROM THE GM. THEY USE THE AREA SALARY SURVEY IN THE PROCESS. ALL OF OUR EMPLOYEE PAY RATES ARE SET BY THE BOARD. THE MAJORITY ARE UNDER A UNION CONTRACT THAT IS NEGOTIATED BY A COMMITTEE OF THE BOARD AND APPROVED BY THE FULL BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: DECREASE IN CAPITAL STOCK (MEMBERSHIPS) -1,115. OTHER COMPREHENSIVE LOSS - APBO -103,825. AUDIT OVERSIGHT PROCESS REMAINS UNCHANGED FROM THE PRIOR YEAR. PG. 10, PART IX, LINE 24E, OTHER EXPENSES FOR PRESENTATION PURPOSES, $6,057,094 WAS RECLASSIFIED TO SALARIES AND WAGES TO GIVE A MORE ACCURATE FIGURE. A LARGE AMOUNT OF SALARIES EXPENSE 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.