2012-05-04T08:53:51-07:00 2011-12-31 990 2011-01-01 630052772 CULLMAN ELECTRIC COOPERATIVE CULL 2567373200 P O Box 1168 Cullman AL 350561168 Grady Smith 2567373240 2012-05-04 2011 2016-02-24 21:20:13Z GRADY W SMITH JR P O BOX 1168 CULLMAN AL 350561168 112871556 0 X www.cullmanec.com X 1936 AL Cullman Electric Cooperative's mission is to provide electric service to its members located in four North Alabama counties while adhering to the following values: commitment, accountability, reliability and efficiency. 9 9 113 0 659552 177922 0 0 102464789 107374349 322422 499834 2542681 4992066 105329892 112866249 0 0 0 11986310 5259598 5882621 0 0 0 96286890 94997318 101546488 112866249 3783404 0 157071235 171855087 90081622 92807256 66989613 79047831 Cullman Electric Cooperative's mission is to provide electric service to its members located in four North Alabama counties while adhering to the following values: commitment, accountability, reliability and efficiency. 0 0 0 0 0 PROVIDE ELECTRIC SERVICE TO MEMBERS. 0 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 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 66 0 1 113 1 1 1 0 0 0 0 107374349 5419900 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X C Jerry Weathersby 2567373200 1749 Eva Road NE Cullman AL 35055 Robert Tidwell Jr 2.0 X X 14065 0 0 James C Fields Jr 1.3 X X 13915 0 0 Lynda Carter 6.8 X X 13915 0 0 Chad Alexander 1.7 X X 13915 0 0 Neil Rainwater 5.0 X 14815 0 0 Daryl Calvert 1.2 X 13915 0 0 Lisa Weeks 2.0 X 12265 0 0 Sue Reynolds 4.4 X 13915 0 0 David Hembree 5.3 X 13915 0 0 Grady W Smith Jr 50 X 194246 13176 60173 C Jerry Weathersby 45 X 108449 0 42953 Kyle Baggett 50 X 118144 0 27133 Gail Neal 56 X 112170 0 41868 Melissa Cartee 45 X 100997 0 25226 W Steve Link 59 X 108745 0 26519 867386 13176 223872 8 0 1 0 Sumter Utilities Inc P O Box 579 Sumter SC 29151 Construction Contractor 1866962 Davey Tree Expert Co 1500 N Mantua St Kent OH 44240 Right of Way Clearing 1425751 Goss Construction Inc 137 Woodall Avenue Decatur AL 35601 Substation Contractor 656899 Nelson Tree Service Inc 3300 Office Park Drive Dayton OH 45439 Right of way clearing 617449 Diversified Services Inc 2940 Hwy 31N Hartselle AL 35640 Construction Contractor 498735 19 0 ELECTRIC SALES 221122 107374349 107374349 0 0 107374349 499834 0 0 499834 0 0 0 0 0 0 0 0 1636796 8400 0 0 1636796 8400 1645196 0 0 1645196 0 0 5674 5307 367 0 367 0 PATRONAGE CAPITAL 900099 134032 134032 0 0 CONTRACT BILLINGS 541519 659185 0 659185 0 CHANGE IN ACCOUNTING METHOD 221122 2553286 2553286 0 0 0 0 0 0 3346503 112866249 110061667 659552 2145030 X 11986310 1111795 1442358 1704258 1624210 3302808 5791956 POWER COST 75064086 DISTRIBUTION EXPENSES 6662038 TRANSMISSION MAINTENANCE 289353 TAXES 3514791 372286 112866249 0 0 0 1009369 588284 5150895 9645160 10591533 10643200 921966 945636 4590103 8663750 197558172 58644508 132364264 138913664 2443105 2455393 157071235 171855087 15174730 16121072 1021457 1055830 71455929 73113778 2429506 2516576 90081622 92807256 X 199600 199580 0 0 66790013 78848251 66989613 79047831 157071235 171855087 X 0 12058218 X 0 1 1 X 0 0 1015076 1015076 0 7375442 2706907 4668535 0 0 0 0 0 6820522 4782944 2037578 0 182347132 51154657 131192475 138913664 0 MEMBER DEPOSITS 2516576 2516576 112866249 112866249 0 0 0 0 0 11986310 11986310 11986310 112866249 0 0 0 0 0 112866249 0 0 0 112866249 100879939 0 0 0 0 0 100879939 0 11986310 11986310 112866249 SchD_P10_S00_L02 Schedule D, Part X, Line 2 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 - AN INTERPRETATION OF FASB STATEMENT NO. 109). THE ADOPTION OF FASB ASC 740 DID NOT HAVE A MATERIAL IMPACT ON THE COOPERATIVE'S 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 COOPERATIVE'S EVALUATION WAS PERFORMED FOR TAX YEARS ENDED JUNE 30, 2008 THROUGH JUNE 30, 2011, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 20, 2011. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 EACH YEAR THE COOPERATIVE ALLOCATES EXCESS MARGINS AS PATRONAGE CAPITAL TO ITS MEMBERS IN ACCORDANCE WITH COOPERATIVE POLICIES. PATRONAGE CAPITAL TOTALED $11,986,310 IN CALENDAR YEAR 2011. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b ALLOCATION OF PATRONAGE CAPITAL REPORTED AS BENEFITS PAID TO OR FOR MEMBERS ON FORM 990, PART IX, LINE 4. X 0 0 0 Grady W Smith Jr 190890 0 0 0 3356 13176 58820 0 3832 0 256898 13176 0 0 Federated Rural Electric Insurance Corp Board Member 219565 Property and Liability Insurance 0 F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 Members F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a THE MEMBERS ELECT THE BOARD OF TRUSTEES F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b AFTER THE FORM 990 WAS PREPARED BY THE ACCOUNTING DEPARTMENT, THE VICE PRESIDENT OF ACCOUNTING, FINANCE AND CONTROL PERFORMED THE INITIAL REVIEW. THE COOPERATIVE'S PRESIDENT AND CEO REVIEWED THE REPORT. A DRAFT COPY OF THE FORM 990 WAS PROVIDED TO THE COOPERATIVE'S LEGAL COUNSEL AND INDEPENDENT AUDITORS FOR THEIR REVIEW. THE COOPERATIVE'S GOVERNING BOARD WAS PROVIDED A COPY OF THE REPORT AND REVIEWED THE REPORT AT A REGULAR BOARD MEETING. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c A COPY OF THE CONFLICT OF INTEREST POLICY AND A QUESTIONNAIRE IS PROVIDED ANNUALLY TO ALL TRUSTEES, APPLICABLE MANAGEMENT TEAM MEMBERS AND SELECTED EMPLOYEES TO BE RETURNED TO THE PRESIDENT AND CEO OR EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 THE BOARD OF TRUSTEES EVALUATES THE PERFORMANCE OF THE PRESIDENT/CEO ANNUALLY. DURING THIS TIME COMPENSATION IS REVIEWED AND THE BOARD, ACTING AS THE COMPENSATION COMMITTEE, MAKES THEIR RECOMMENDATION. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 CULLMAN ELECTRIC COOPERATIVE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST THROUGH THE OFFICE OF THE VICE PRESIDENT OF ACCOUNTING, FINANCE AND CONTROL. F990_P08_S00_L11a Form 990, Part VIII, Line 11a 11b 11c LINE 11C - CULLMAN ELECTRIC COOPERATIVE BEGAN RECOGNIZING THE PORTION OF ENERGY REVENUE SOLD BUT UNBILLED THROUGH THE END OF EACH MONTH. IN ADDITION, TVA CHANGED IT'S BILLING PROCEDURE FROM A MID-MONTH BILLING DATE TO AN END OF MONTH BILLING DATE. AT THE RECOMMENDATION OF TVA, THESE TRANSACTIONS WERE RECORDED AS EXTRAORDINARY ITEMS. THE TOTAL COST OF POWER RESULTED IN EXTRAORDINARY EXPENSE OF $2,000,598 AND THE UNBILLED REVENUE RESULTED IN EXTRAORDINARY REVENUE OF $4,553,884. F990_P09_S00_L04 Form 990, Part IX, Line 4 CULLMAN ELECTRIC COOPERATIVE ALLOCATES EXCESS MARGINS AS PATRONAGE CAPITAL TO IT'S MEMBERS EACH YEAR IN ACCORDANCE WITH COOPERATIVE POLICY. PATRONAGE CAPITAL TOTALED $11,986,310 FOR CALENDAR YEAR 2011 WHICH INCLUDED EXTRAORDINARY ITEMS TOTALING $2,553,286. IN ADDITION, THE STATE OF ALABAMA ALLOWS NOT-FOR-PROFIT MEMBER-OWNED ELECTRIC COOPERATIVES TO REQUEST A REFUND OF ALL TAXES PAID ON ITS OPERATING MARGINS. THIS REFUND TOTALED $234,571 FOR THE COOPERATIVE'S 2010 MARGINS. AS APPROVED BY THE BOARD, THIS REFUND WAS PASSED ON TO THE COOPERATIVES MEMBERS BASED ON EACH MEMBER'S ACCOUNT AS A PERCENTAGE OF OVERALL REVENUE. SINCE THIS REFUND WAS A PASS THROUGH FROM THE STATE OF ALABAMA TO THE MEMBER IT WAS NOT INCLUDED ON PART IX, LINE 4. F990_P11_S00_L05 Form 990, Part XI, Line 5 NET CHANGE IN MEMBERSHIPS ($20), 2010 POSTING CORRECTION ($139), OTHER COMPREHENSIVE INCOME $72,067, PATRONAGE CAPITAL ALLOCATION $11,986,310 Operation Round-up of Cullman and Winston Counties P O Box 1168 Cullman AL 350561168 631284255 Educational assistance AL 501(c)3 9 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0