2012-05-02T15:40:01-05:00 2011-12-31 560747981 DIXON HUGHES GOODMAN LLP 110 EXCHANGE STREET SUITE G DANVILLE VA 24541 990 2011-01-01 560193499 HAYWOOD ELECTRIC MEMBERSHIP CORPORATION HAYW 8284522281 376 GRINDSTONE ROAD WAYNESVILLE NC 28785 SUSAN MCCALL 8284522281 2012-05-02 1 STEVEN E FARRAR P00439700 4347925334 2011 2016-02-24 21:20:13Z SUSAN MCCALL 376 GRINDSTONE ROAD WAYNESVILLE NC 28785 42531415 0 X N/A X 1938 NC SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS 10 10 72 0 0 0 0 0 42301702 41742449 12718 137410 279570 312211 42593990 42192070 0 11290 0 838835 505837 492543 0 0 0 37747884 37849780 38253721 39192448 4340269 2999622 122437306 123567482 85248977 84206620 37188329 39360862 SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS 0 0 SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 35 0 1 72 1 0 0 0 0 0 0 0 0 0 0 0 41272874 428604 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NC X SUSAN MCCALL 8284522281 376 GRINDSTONE ROAD WAYNESVILLE NC 28785 KENNETH ISRAEL 5.00 X X 16431 0 0 DAVID NOLAND 3.00 X 16431 0 0 JAMES BOYETTE 6.00 X X 17331 0 0 ROY STAMEY 8.00 X X 23243 0 0 BOBBY JOE TUCKER 6.00 X 21443 0 0 LARRY CLARK 7.00 X 17860 0 0 CLAY TALLEY 1.00 X 7395 0 0 EMMIT WOOD 1.00 X 12305 0 0 LUCAS SORRELLS 7.00 X 16260 0 0 L STEPHEN FOSTER 3.00 X 16768 0 0 SUSAN MCCALL 40.00 X 79088 0 45279 NORMAN SLOAN 40.00 X 149281 0 53428 393836 0 98707 1 0 1 0 MB HAYNES PO BOX 16589 ASHEVILLE NC 28816 DISTRIBUTION LINE EXTENSION 1379420 MOUNTAIN AIRE UTILITY 3772 CANEY FORK ROAD CULLOWHEE NC 28723 RIGHT OF WAY TREE CLEARING 1263944 PIKE ENERGY SOLUTIONS LLC PO BOX 1000 MEMPHIS TN 38148 DISTRIBUTION LINE EXTENSION 860948 ASPLUNDH TREE EXPERT PO BOX 532729 ATLANTA GA 30353 RIGHT OF WAY TREE CLEARING 751905 SOUTHEAST WOODLAND SERVICES 431 CAINES LANDING RD CONWAY SC 29526 RIGHT OF WAY TREE CLEARING 225344 6 SALE OF ELECTRICITY 221000 39567718 39567718 CONTRIBUTIONS IN AID 221000 873596 873596 POLE RENTAL INCOME 221000 469575 469575 SERVICE CHARGES 221000 460230 460230 PATRONAGE CAPITAL 221000 371330 371330 41742449 61413 61413 127007 51010 75997 75997 75997 309352 288335 21017 21017 DISCOUNTED CAPITAL CRE 221000 291194 291194 291194 42192070 41661082 0 530988 11290 838835 393836 77001 21706 3532070 3956938 COST OF POWER 19104121 DISTRIBUTION - MAINTENA 4152099 DISTRIBUTION - OPERATIO 2240295 ADMINISTRATIVE AND GENE 2006779 2857478 39192448 1022827 613320 5509891 4789978 63847 71716 1008788 821146 1137142 1108398 141501227 28267131 110930871 113234096 2626499 2791093 137441 137735 122437306 123567482 4159967 3780665 116427 67584039 64975719 13388544 15450236 85248977 84206620 X 0 0 0 0 37188329 39360862 37188329 39360862 122437306 123567482 X 2999622 -904090 X X 0 1 1 X 0 1553086 1553086 11007106 1590578 9416528 127683889 26676553 101007336 1257146 1257146 113234096 CONSUMER DEPOSITS 852666 LINE OF CREDIT 14235370 POSTRETIREMENT BENEFITS OTHER THAN PENSIONS 362200 15450236 42192070 39192448 2999622 -904090 -904090 2095532 42192070 0 42192070 0 42192070 39115447 0 39115447 0 39115447 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE CORPORATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2011. PART XI, LINE 8 - OTHER ADJUSTMENTS: CONTRIBUTIONS IN AID OF CONSTRUCTION -873,596. DECREASE IN CAPITAL CREDITS LESS THAN $5 MINIMUM -2,064. DECREASE IN DONATED CAPITAL -330. INCREASE IN ACCUMULATED OTHER COMPREHENSIVE INCOME -28,100. TOTAL TO SCHEDULE D, PART XI, LINE 8: -904,090. SEE SUPPLEMENTAL INFORMATION ATTACHED TO THE 990. X 0 0 0 NORMAN SLOAN 149281 0 0 0 0 0 38953 0 14475 0 202709 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 HAYWOOD EMC IS AN ELECTRIC DISTRIBUTION SYSTEM. EACH PROSPECTIVE CONSUMER/MEMBER REQUESTING ELECTRIC SERVICE SHALL SIGN THE COOPERATIVE'S APPLICATION FOR MEMBERSHIP AND SUPPLY THE COOPERATIVE WITH SUCH CREDIT REFERENCES AS MAY BE REQUESTED. THERE IS NO MEMBERSHIP FEE. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER/HOUSEHOLD IS AFFORDED ONE VOTE ANNUALLY IN THE ELECTION OF SPECIFIED BOARD SEAT. FORM 990, PART VI, SECTION A, LINE 7B THE DECISION TO DISSOLVE THE COOPERATIVE WOULD BE SUBJECT TO APPROVAL BY MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 INFORMATION AND DATA REQUIRED TO COMPLETE THE FORM 990 IS PROVIDED TO HAYWOOD EMC'S INDEPENDENT AUDIT FIRM; A DRAFT IS PREPARED BY THE FIRM; THE DRAFT IS REVIEWED BY GENERAL MANAGER AND INTERNAL AUDITOR FOR ACCURACY; THAT DRAFT IS THEN PRESENTED TO HEMC'S BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C HAYWOOD EMC EVALUATES, ON AN ON-GOING BASIS, THE EVENTS THAT WOULD GIVE RISE TO THE CONFLICT OF INTEREST POLICY FOR BOTH EMPLOYEES AND DIRECTORS AND ENFORCE COMPLIANCE WHEN APPLICABLE. FORM 990, PART VI, SECTION B, LINE 15 THE SALARY OF THE EXECUTIVE VICE PRESIDENT/GENERAL MANAGER SHALL BE REVIEWED ANNUALLY BY THE DIRECTORS. THE FOLLOWING PROCEDURES AND CRITERIA SHALL BE USED TO DETERMINE THE LEVEL OF ANNUAL SALARY INCREASE: 1. THE EXECUTIVE COMMITTEE, AFTER REVIEWING THE RESULTS OF THE EXECUTIVE VICE PRESIDENT/GENERAL MANAGER'S PERFORMANCE APPRAISAL, WILL DEVELOP A RECOMMENDATION FOR CONSIDERATION BY THE BOARD FOR THE LEVEL OF SALARY ADJUSTMENT TO BE GRANTED TO THE EXECUTIVE VICE PRESIDENT/GENERAL MANAGER. 2. FINAL DETERMINATION OF THE SALARY ADJUSTMENT SHALL BE MADE BY THE BOARD. COMPENSATION FOR OTHER OFFICERS OF THE ORGANIZATION IS REVIEWED AS FOLLOWS: AFTER CAREFUL CONSIDERATION OF LABOR MARKET INFORMATION, PRICE INDEX FOR THE PRECEDING 12-MONTH PERIOD, AND AN ASSESSMENT OF GENERAL ECONOMIC CONDITIONS DIRECTLY AFFECTING THE COOPERATIVE AND ITS ABILITY TO PAY ITS EMPLOYEES, THE BOARD OF DIRECTORS, UPON THE RECOMMENDATION OF THE EXECUTIVE VICE PRESIDENT/GENERAL MANAGER, SHALL MAKE A DETERMINATION OF THE PLAN ADJUSTMENT TO BE APPLIED TO THE PAY RATE OF EACH EMPLOYEE GROUP. THIS ADJUSTMENT SHALL BE MADE AS A PERCENTAGE CHANGE APPLIED TO ALL PAY RATES WITHIN AN EMPLOYEE GROUP. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO ITS MEMBERS AT THE COOPERATIVE'S ANNUAL MEMBERSHIP BUSINESS MEETING AND IS INCLUDED IN A NEW MEMBER'S PACKET WHEN APPLYING FOR ELECTRIC SERVICE. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO MEMBERS AT THE COOPERATIVE'S ANNUAL MEETING AND UPON INDIVIDUAL REQUEST. THE COOPERATIVE'S CONFLICT OF INTEREST POLICY WOULD BE MADE AVAILABLE TO MEMBERS UPON INDIVIDUAL REQUEST. THESE ITEMS MENTIONED ABOVE ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC OUTSIDE OF THE MEMBERSHIP; HOWEVER THE DOCUMENTS WOULD BE AVAILABLE TO THE PUBLIC WITH THE FILING OF IRS FORM 990 AND THE REQUIRED FILINGS WITH RURAL UTILITIES SERVICES IN WASHINGTON, D.C. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CONTRIBUTIONS IN AID OF CONSTRUCTION -873,596. DECREASE IN CAPITAL CREDITS LESS THAN $5 MINIMUM -2,064. DECREASE IN DONATED CAPITAL -330. INCREASE IN ACCUMULATED OTHER COMPREHENSIVE INCOME -28,100. TOTAL TO FORM 990, PART XI, LINE 5: -904,090. NO CHANGES NOTED IN CY HAYWOOD SERVICES CORPORATION INC 376 GRINDSTONE ROAD WAYNESVILLE NC 28785 561884718 SERVICE - INACTIVE NC HAYWOOD ELECTRIC MEMBERSHIP CORPORATION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0