2012-05-08T08:12:01-05:00 2011-12-31 540504608 BROWN EDWARDS & COMPANY LLP 319 MCCLANAHAN ST SW ROANOKE VA 24014 990 2011-01-01 540346866 PRINCE GEORGE ELECTRIC COOPERATIVE PRIN 8048342424 7103 GENERAL MAHONE HIGHWAY WAVERLY VA 23890 M DALE BRADSHAW 8048342424 2012-04-25 JASON A HARTMAN P00059980 5403450936 2011 2016-02-24 21:20:13Z M DALE BRADSHAW 7103 GENERAL MAHONE HIGHWAY WAVERLY VA 23890 34137128 0 X WWW.PGEC.COOP X COOPERATIVE 1938 VA SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS 9 9 49 0 0 0 0 0 35875218 34045506 29866 35969 765 30070 35905849 34111545 0 0 0 1496250 852074 941754 0 0 0 30721310 31664142 31573384 34102146 4332465 9399 59841462 59766650 30872333 30775162 28969129 28991488 SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS. 0 0 34111545 SALE AND DISTRIBUTION OF ELECTRICY TO MEMBERS. 0 0 0 0 0 0 0 0 1 1 0 0 1 0 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 0 1 27 0 1 49 1 0 0 0 0 0 0 0 0 0 33700632 410913 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X JILL MCKENZIE 8048342424 7103 GENERAL MAHONE HIGHWAY WAVERLY VA 23890 GLENN F CHAPPELL 1.00 X X 24550 0 0 HERBERT F SCOTT JR 1.00 X X 10000 0 0 PAUL H BROWN 1.00 X X 12550 0 0 RICHARD B SCOTT 1.00 X X 11250 0 0 JOHN M BROCK JR 1.00 X 16600 0 0 CHRISTOPHER T PARKER 1.00 X 10450 0 0 HERBERT R PATRICK 1.00 X 15950 0 0 DR ALBERT W THWEATT 1.00 X 16600 0 0 RANDOLPH G WILLIAMS 1.00 X 21200 0 0 M DALE BRADSHAW 40.00 X 245158 0 43969 MICHAEL EDWARD MALANDRO 40.00 X 104297 0 764 ROBERT HOWARD HALL 40.00 X 112233 0 6391 600838 0 51124 3 0 1 0 OLD DOMINION ELECTRIC COOPERATIVE 4201 DOMINION BLVD GLEN ALLEN VA 23060 POWER SUPPLY 21662000 LEWIS TREE SERVICE PO BOX 8000 BUFFALO NY 14267 RIGHT OF WAY 610089 HUGHES SUPPLY INC PO BOX 840123 DALLAS TX 75284 LINE MATERIALS 459542 WAUKESHA ELECTRIC SYSTEMS PO BOX 277322 ATLANTA GA 30384 TRANSFORMER REPAIR 296299 NRTC PO BOX 1506 MERRIFIELD VA 22166 LINE MATERIALS 240953 10 ELECTRICITY TO MEMBERS 221000 33700632 33700632 PATRONAGE ALLOCATIONS 221000 344874 344874 34045506 61552 61552 25583 -25583 -25583 -25583 OTHER NON-OPERATING IN 900099 30070 30070 30070 34111545 34111545 0 0 1496250 384308 557446 51952 15400 15509 141206 206868 81899 37863 1328200 2021814 16625 COST OF POWER 22554486 DISTRIBUTION MAINTENANC 1914068 DISTRIBUTION OPERATION 1016397 CONSUMER ACCOUNTS 904115 1357740 34102146 692454 1349414 4770602 3999195 741866 736274 94216 152693 61099765 21071766 40418114 40027999 13124210 13445259 0 55816 59841462 59766650 1517158 2144559 26342102 25576569 3013073 3054034 30872333 30775162 X 0 0 0 0 28969129 28991488 28969129 28991488 59841462 59766650 X 9399 12960 X X 0 1 1 X 0 1914692 1914692 2468501 1019849 1448652 55116178 20051917 35064261 1600394 1600394 40027999 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 465527 C COOPERATIVE RESPONSE CENTER MEMBER CAPITAL SECURITIES 21200 C VA, MD, DELAWARE ASSOCIATION OF ELECTRIC COOPERATIVES 9960 C OLD DOMINION ELECTRIC COOPERATIVE CAPITAL ALLOCATIONS 12322659 C TEC STOCK 172500 C PATRONAGE CAPITAL ALLOCATIONS 452388 C VARIOUS MEMBERSHIP FEES 1025 C 13445259 CONSUMER DEPOSITS 1005115 ACCRUED TAXES 2574 OTHER CURRENT AND ACCRUED LIABILITIES 790535 ACCUMULATED PROVISION FOR POSTRETIREMENT BENEFITS OTHER THAN PENSIONS 196142 RESERVE FOR STORM DAMAGE 523374 DEFERRED CREDITS 503287 DEFERRED COMPENSATION LIABILITY 33007 3054034 34111545 34102146 9399 12960 12960 22359 34111545 0 34111545 0 34111545 31919215 0 31919215 2182931 2182931 34102146 PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN MEMBERSHIPS -245. CHANGE IN OTHER COMPREHENSIVE INCOME -75,400. CHANGE IN CAPITAL CREDIT GAINS 88,605. TOTAL TO SCHEDULE D, PART XI, LINE 8: 12,960. PART XIII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES RELATED TO PRIOR PERIOD ADJ FOR 2010 990 TO 2011 PATRONAGE DIVIDENDS PAID X X X 0 0 0 M DALE BRADSHAW 245158 0 0 0 0 0 22000 0 21969 0 289127 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 PRINCE GEORGE ELECTRIC 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 A MEMBERHSIP FEE OF $5.00. FORM 990, PART VI, SECTION A, LINE 7A EACH CONSUMER/MEMBER IS AFFORDED ONE VOTE ANNUALLY IN THE ELECTION OF SPECIFIED BOARD SEAT. FORM 990, PART VI, SECTION B, LINE 11 NO REVIEW WILL BE CONDUCTED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST WHETHER ACTUAL OR PERCEIVED ARE PROHIBITED. ANY CONFLICT OR POTENTIAL CONFLICT MUST BE REPORTED TO CEO, CHAIRMAN OF BOARD, COMPLIANCE OFFICER, OR AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 PGEC UTILIZES 3RD PARTY CONTRACTOR TO DETERMINE SALARY RANGES. THESE ARE BASED ON POSITION, GEOGRAPHIC LOCATION, AND COMPARISON TO OTHER ORGANIZATIONS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. INTERPRETATION FOR PATRONAGE DIVIDENDS PAID LINE 4 UNDER PROVISIONS OF THE LONG-TERM DEBT AGREEMENT AND TITLE 7 OF THE CODE OF FEDERAL REGULATIONS (PART 1717.617), THE COOPERATIVE MAY REFUND CAPITAL TO PATRONS WITHOUT LIMITATION IF TOTAL EQUITY IS EQUAL TO OR GREATER THAN 30% OF TOTAL ASSETS, THERE ARE NO INSTANCES OF DEFAULT, AND AFTER GIVING EFFECT TO THE REFUND, CURRENT ASSETS ARE NOT LESS THAN CURRENT LIABILITIES. IF EQUITIES ARE BETWEEN 20% AND 30% OF TOTAL ASSETS, GENERAL REFUNDS ARE LIMITED TO 25% (ADJUSTED FOR RETURNS TO ESTATES, WHICH ARE NOT LIMITED) OF THE PATRONAGE CAPITAL OR MARGINS RECEIVED IN THE NEXT PRECEDING YEAR. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CHANGE IN MEMBERSHIPS -245. CHANGE IN OTHER COMPREHENSIVE INCOME -75,400. CHANGE IN CAPITAL CREDIT GAINS 88,605. TOTAL TO FORM 990, PART XI, LINE 5: 12,960. THIS PROCESS IS UNCHANGED FROM THE PRIOR YEAR.