2013-12-19T02:42:48-00:00 2013-06-30 EDWARDS & PRINCE P O BOX 334 COLUMBIA TN 384020334 990 2012-07-01 620186725 DUCK RIVER ELECTRIC MEMBERSHIP CORP DUCK 9316844621 P O BOX 89 SHELBYVILLE TN 37162 SHELIA R ROARK 2013-10-07 true C ANTHONY EDWARDS 9313810667 2013-10-07 2012 2016-03-07 17:11:31Z SHELIA ROARK P O BOX 89 SHELBYVILLE TN 37162 182384548 false X www.dremc.com X 1936 TN RURAL ELECTRIC DISTRIBUTION TO 71,438 MEMBERS LOCATED PRIMARILY IN BEDFORD, COFFEE, FRANKLIN, GILES, MARSHALL, MAURY and MOORE COUNTIES IN MIDDLE TENNESSEE. 13 13 165 0 0 172787945 180987388 1635757 1284392 107121 87328 174530823 182359108 0 5182817 9295380 11493967 12136743 0 0 157854039 160926985 174530823 182359108 0 215912453 215076737 127672692 122069455 88239761 93007282 PROVIDING ELECTRIC SERVICE TO 71,438 MEMBERS PRIMARILY IN BEDFORD, COFFEE, FRANKLIN, GILES, MARSHALL, MAURY and MOORE COUNTIES IN MIDDLE TENNESSEE. false false 182359108 182359108 PROVIDING ELECTRIC SERVICE TO 71,438 MEMBERS PRIMARILY IN BEDFORD, COFFEE, FRANKLIN, GILES, MARSHALL, MAURY and MOORE COUNTIES IN MIDDLE TENNESSEE SINCE THE FORMATION OF THE COOPERATIVE IN MAY OF 1936. 182359108 false false false false false false false false true false false false true false true false false false false false false false false false false false false true false false false false false true true true false false false false false false false false false false true X 91 0 true 165 true false false false false false false 179929547 2429561 false X 13 13 false false false false true true true true true false false true true true true true true true true false TN X X X SHELIA R ROARK DIRECTOR FIN SVCS 9316844621 305 LEARNING WAY SHELBYVILLE TN 37160 JAMES BRENT WILLIS 005.50 X X 12490 0 0 BUFORD JENNINGS 004.00 X X 9870 0 0 BARRY COOPER 004.80 X X 9585 0 0 JOHN MOSES 003.85 X X 9555 0 0 ANTHONY KIMBROUGH 005.30 X 9085 0 0 MIKE ENGLAND 003.85 X 10755 0 0 ROBERT DUBOIS 003.25 X 11715 0 0 PHILIP DUNCAN 003.10 X 7365 0 0 KENNETH STACY 002.70 X 9600 0 0 LAURA WILLIS 003.70 X 8370 0 0 NELSON CROUCH 004.60 X 8860 0 0 WAYNE TUCKER 002.40 X 6555 0 0 BAXTER WHITE 002.70 X 7870 0 0 JAMES M ALLISON 050.00 X 234765 0 149032 MICHAEL WATSON 048.00 X 139754 0 48511 BLAKE BUTLER 044.00 X 135019 0 52371 SHELIA ROARK 044.00 X 116362 0 57718 MARK BROTHERS 057.50 X 115854 0 31695 DAVID YOUNG 044.00 X 114469 0 38062 BRAD GIBSON 043.00 X 120396 0 22677 RONALD ALDRIDGE 050.00 X 107626 0 8928 JIM MARTIN X 0 0 13895 1205920 422889 8 true true false WOLF TREE INC P O BOX 415000-0046 NASHVILLE TN 37241 TREE TRIMMING 1564528 SOUTHEAST WOODLAND SERVICES 431 CAINES LANDING ROAD CONWAY SC 29526 R-O-W SPRAYING 471054 THE DAVEY TREE EXPERT COMPANY P O BOX 5193 KENT OH 44240 413894 T & D SOLUTIONS P O BOX 11948 ALEXANDRIA LA 71315 ELECTRIC LINE CONSTRUCTION 1536958 DILLARD SMITH CONSTRUCTION P O BOX 277790 ATLANTA GA 30384 METER READING SERVICE 710285 9 SALE OF ELECTRICITY 221000 176127566 176127566 POLE RENTAL 531190 2571324 2571324 MISCELLANEOUS 221000 2342233 2342233 180987388 1048299 1048299 261533 25440 236093 236093 236093 PATRONAGE CAPITAL REFUND 221000 87328 87328 87328 182359108 178739485 3619623 0 0 0 9295380 508835 7147458 0 2013563 1947862 519025 0 144064 22775 0 0 316744 243962 329303 28482 0 0 0 0 308866 3782009 0 7304186 506899 COST OF ELECTRICITY SOLD 134735236 DISTRIBUTION MAINTENANCE EXPENSE 3941959 DISTRIBUTION OPERATIONS EXPENSE 3498855 ADMINISTRATIVE GENERAL EXPENSE 3577728 2185917 182359108 3403411 4475988 26800000 23500000 11477359 11596985 322500 270000 1386058 1554567 5939700 5578870 232084349 71923227 158907250 160161122 7676175 7939205 215912453 215076737 27768340 27140167 78216601 69702807 21687751 25226481 127672692 122069455 X 741230 747220 87498531 92260062 88239761 93007282 215912453 215076737 X 0 4767521 X X false true X true false false 1765451 1765451 14425039 5091070 9333969 9765736 6582720 3183016 206128123 60249437 145878686 160161122 Financial derivatives and other financial products Closely-held equity interests Federal income taxes OTHER LIABILITIES 1890769 PENSION LIABILITY - FASB158 14837304 CUSTOMER DEPOSITS 6829222 ADVANCES FOR CONSTRUCTION 1669186 25226481 182359108 182359108 182359108 173063728 173063728 9295380 9295380 182359108 I 9,295,380 -- NET MARGIN ALLOCATED TO MEMBERS. THIS ALLOCATION IS REPORTED ON FORM 990, PART IX, LINE 4. THE COOPERATIVE IS PROHIBITED FROM THE RETIREMENT OF THESE MEMBER-ALLOCATED MARGINS BY ITS REGULATOR, THE TENNESSEE VALLEY AUTHORITY. . X true true X X X X X X false true false JAMES M ALLISON 234765 149032 383797 MICHAEL WATSON 139754 48511 188265 BLAKE BUTLER 135019 52371 187390 SHELIA ROARK 116362 57718 174080 DAVID YOUNG 114469 38062 152531 I 1A EMPLOYEE REIMBURSEMENT OF HEALTH CLUB MEMBERSHIP DUES ALLOWANCE OF 50 OF DUES PAID TO A MAXIMUM OF 200 PER YEAR PER EMPLOYEE UPON PRESENTATION OF A PAID RECEIPT. NO HEALTH CLUB DUES WERE REIMBURSED TO ANY OFFICERS, DIRECTORS, TRUSTEES OR THE PRESIDENT CEO. I 4B NO PAYMENTS WERE MADE TO ANY PARTICIPANT OF THE SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN FOR THE YEAR ENDING 6-30-2013. BAXTER WHITE CURRENT BOARD OF DIRECTORS 120396 SEE EXPLANATION BELOW IV 1 DREMC PURCHASED 11 VEHICLES DURING FISCAL YEAR 2013. AL WHITE MOTORS WAS THE LOW BID ON 5 OF THE 11. DREMC PURCHASED 5 TRUCKS TOTALING 120,396. BAXTER WHITE IS PART OF THE FAMILY-OWNED ENTERPRISE, AL WHITE MOTORS, IN MANCHESTER, TENNESSEE. WHEN PURCHASING VEHICLES, DUCK RIVER ELECTRIC RECEIVES BIDS FROM APPROXIMATELY NINE VENDORS. DURING THE FISCAL YEAR JULY 2012 - JUNE 2013, AL WHITE MOTORS WAS THE LOW BIDDER ON 5 OF THE 11 VEHICLES PURCHASED. Form 990 Part VI Section A Line 6 THE COOPERATIVE HAS MEMBERS THAT PAY A 10 MEMBERSHIP FEE WHEN ESTABLISHING METERED SERVICE FOR ELECTRICITY. Form 990 Part VI Section A Line 7a MEMBERS ARE ENTITLED TO VOTE FOR THE DIRECTORS ON THE BALLOT WHO REPRESENT THE SERVICE AREA IN WHICH THE MEMBERS RESIDE. Form 990 Part VI Section A Line 7b DECISIONS TO SELL THE COOPERATIVE REQUIRE MEMBER APPROVAL. CHANGES TO THE BYLAWS MAY BE SUBMITTED FOR MEMBERS APPROVAL. Form 990 Part VI Section B Line 11 THE COOPERATIVES BOARD MEMBERS COMPLETED QUESTIONNAIRES WHICH WERE THEN USED FOR COMPLETION OF IRS FORM 990. THE BOARD ALSO REVIEWED THE COOPERATIVES PRIOR YEAR IRS FORM 990, INFORMATION REGARDING CHANGES BY THE IRS FOR THE CURRENT YEAR AND A COMPLETED IRS FORM 990 FOR THE CURRENT YEAR AT A SERIES OF BOARD MEETINGS, THE LAST OF WHICH WAS HELD ON OCTOBER 23, 2013. Form 990 Part VI Section B Line 12c ALL BOARD MEMBERS COMPLETED A QUESTIONNAIRE ON VARIOUS MATTERS TO BE USED IN COMPLETING IRS FORM 990. THE QUESTIONNAIRE CONTAINED QUESTIONS PERTAINING TO POTENTIAL CONFLICTS OF INTEREST THAT WOULD REQUIRE DISCLOSURE. Form 990 Part VI Section B Line 15 COMPENSATION FOR THE PRESIDENT AND CEO IS SET BY THE BOARD BASED UPON RECOMMENDATIONS FROM A COMMITTEE CONSISTING OF BOARD OFFICERS AND DIRECTORS. THE COMMITTEE AND THE BOARD RELY ON STUDIES AND REVIEWS PERFORMED BY AN INDEPENDENT COMPENSATION CONSULTANT SELECTED BY THE BOARD, AS WELL AS ON DATA FROM THE U. S. BUREAU OF LABOR STATISTICS, SURVEYS PERFORMED BY VARIOUS TRADE ORGANIZATIONS AND SURVEYS PERFORMED AT THE COMMITTEES REQUEST. THE BOARD, BASED ON RECOMMENDATIONS FROM THE INDEPENDENT COMPENSATION CONSULTANT AND THE COMMITTEE, SETS THE COMPENSATION FOR THE PRESIDENT AND CEO, APPROVES SALARY RANGES AND A BUDGET FOR ADJUSTMENT THERETO FOR ALL EMPLOYEES. THE PRESIDENT AND CEO THEN MAKES SPECIFIC INDIVIDUAL SALARY DECISIONS FOR KEY EMPLOYEES. Form 990 Part VI Section C Line 19 GOVERNING DOCUMENTS SUCH AS THE COOPERATIVESS BYLAWS ARE PROVIDED TO EACH NEW MEMBER REQUESTING ELECTRIC SERVICE. GOVERNING DOCUMENTS ARE PROVIDED TO ANY CURRENT MEMBERS WHO REQUEST SUCH DOCUMENTS AT THE COOPERATIVES OFFICES. THE GOVERNING DOCUMENTS ARE ALSO POSTED AND AVAILABLE TO ALL MEMBERS AND THE GENERAL PUBLIC ON THE COOPERATIVES WEBSITE. THE COOPERATIVES FINANCIAL INFORMATION IS PUBLISHED ANNUALLY IN THE TENNESSEE MAGAZINE, WHICH IS A MONTHLY PERIODICAL PROVIDED TO THE COOPERATIVES MEMBERSHIP. THE ANNUAL FINANCIAL INFORMATION IS PROVIDED TO EACH MEMBER ATTENDING THE COOPERATIVES ANNUAL MEETING. THE COOPERATIVES CONFLICT OF INTEREST POLICIES ARE ALSO POSTED ON THE COOPERATIVES WEBSITE. Form 990 Part XI Line 9 4,767,521 INCREASE IN MEMBERSHIPS 5,990 AMORTIZATION OF POST-RETIREMENT BENEFITS 377,040 AND MEDICAL 65,280 UNREALIZED LOSS ON PENSION 7,321,640 AND MEDICAL 288,577 ACTUARIAL PENSION ADJUSTMENT 1,490,546 AMORTIZATION OF PRIOR SERVICE COST - FASB 106 PENSION 659,692 AND MEDICAL 122,332 ADJUST SETTLEMENT LOSS PENSION EXPENSE 1,246,118 NET MARGIN ALLOCATED TO MEMBERS 9,295,380 Form 990 Part XII Line 2c THE COOPERATIVE HAS AN AUDIT COMMITTEE COMPOSED OF 5 MEMBERS OF THE COOPERATIVES BOARD OF DIRECTORS. THIS COMMITTEE IS RESPONSIBLE FOR THE OVERSIGHT OF THE COOPERATIVES AUDIT AND RECOMMENDS THE INDEPENDENT AUDITOR. THIS PROCESS HAS BEEN IN PLACE FOR SEVERAL YEARS.