2012-07-31T13:20:57-05:00 2011-12-31 Schmidt and Company LLC 1701 SW US Highway 40 Blue Springs MO 64015 990 2011-01-01 830162161 POWDER RIVER ENERGY CORPORATION POWD PO BOX 930 Sundance WY 82729 FLOYD KANODE 3072833531 2012-06-29 false Roger Schmidt Jr 8883910229 2012-07-31 2011 2016-02-24 21:20:13Z MICHAEL EASLEY 189013711 false X WWW.PRECORP.COOP X 1945 WY The mission of Powder River Energy is to deliver high quality low cost electric service to its member-owners while embracing its cooperative principles and values 10 10 180 0 0 0 171265505 185795446 870807 2879456 77669 46735 172213981 188721637 66883 23697 11279608 14907074 14715687 0 0 150472432 163802645 165446389 189821637 6767592 -1100000 359530407 362040082 193379444 187918238 166150963 174121844 The mission of Powder River Energy is to deliver high quality low cost electric service to its member-owners while embracing its cooperative principles and values false false 189821637 185795446 Powder River Energy Corporations primary function is the distribution of electricity to its 11575 member-owners as a cooperative organized under Section 501c12 In 2009 the Company sold its member-owners 3021903294 kwh with a peak coincid ent load of 453695 kW in January The Company added over 16 million in utility plant in 2009 in order to extend and improve service 189821637 false false false false false false false false true false true true true false false false false false false false false false false false false false true true false true false false false true false false false false true true false false false true 143 0 true 180 true false false false false false 188561614 6718109 false X 10 10 false false false false true true false true true false false true true true true true true true true false X FLOYD KANODE 3072833531 PO BOX 930 Sundance WY 82729 DAVID HOYT 12.00 X 10300 0 35 DON HAMM 10.00 X 9455 35 KEN KNUDSON 10.00 X 3280 35 LEO ANKNEY 12.00 X 10650 35 MIKE LOHSE 10.00 X 2400 35 PAM KINCHEN 10.00 X 5100 35 PAUL BAKER II 10.00 X 7050 35 PHILLIP HABECK 12.00 X 8100 35 REUBEN RITTHALER 12.00 X 5850 35 TOM DAVIS 15.00 X 11050 35 WALTER CHRISTENSEN 12.00 X 11095 35 FLOYD KANODE 43.00 X 123429 51247 MICHAEL EASLEY 49.00 X 214301 81928 MATT DAVIS 46.00 X 126682 47776 DAVID SUTTER 46.00 X 147498 58255 KEN RASMUSSEN 45.00 X 104585 35776 LES PENNING 49.00 X 133818 48311 PATRICK DUFFY 45.00 X 102703 39943 1037346 0 363621 7 false true false MICROWAVE NETWORKS INC PO BOX 5826 Hicksville NY 11802 CONTRACT LABOR 1271903 BESLER INC 5401 CIRCLE ST Black Hawk SD 57718 CONTRACT LABOR 506097 SCHULTE TA INC 5950 SWANSON RD Sheridan WY 82801 CONTRACT LABOR 656820 NISC PO BOX 1147 Mandan ND 58554 CONTRACT LABOR 502778 BACCARI AND ASSOCIATES LLC 1949 SUGARLAND DRIVE Sheridan WY 82801 ENGINEERING 582894 20 ELECTRIC SERVICE 221000 177742558 177742558 CAPITAL CREDITS 221000 6636386 6636386 TRANSMISSION REV 221000 1354054 1354054 POLE RENTAL 531190 13305 13305 OTHER RENTAL INCOME 531190 49143 49143 185795446 1854426 1854426 59754 450 13207 46547 450 46997 46997 1302554 277524 1025030 1025030 1025030 1081 1343 -262 -262 188721637 186853906 0 1867731 4697 4697 19000 19000 11279608 11279608 555619 555619 8666239 8666239 2233297 2233297 2488047 2488047 772485 772485 166598 166598 27351 27351 60178 60178 6335032 6335032 12899326 12899326 PURCHASED POWER 137942103 137942103 OPERATION & MAINT-DISTRIBUTI 972896 972896 OPERATION & MAINT-TRANSMISSI 3906401 3906401 TAX EXPENSE-PROPERTY 457541 457541 1035219 1035219 189821637 189821637 0 0 42352 -19622 9552330 7969598 12809067 13507381 1159 120 1790403 1563954 10150081 10527660 420414 259993 334332507 129021983 209657901 205310524 87808068 94163784 299628 284898 26999004 28471792 359530407 362040082 12857075 11855981 5720000 6820000 126550146 123283076 20000 48232223 45959181 193379444 187918238 X 166150963 174121844 166150963 174121844 359530407 362040082 X -1100000 9070881 X false true true X true true 6744152 6744152 281295 8329216 4041027 4569484 307204482 124980956 182223526 11773362 11773362 205310524 ASSOCIATED ORGANIZATIONS-PAT C 90900223 C ASSOCIATED ORGANIZATIONS-NONGE 3263561 C 94163784 INTEREST RECEIVABLE 33970 SPECIAL FUND-COST OF RETIREMEN 17280486 SPECIAL FUND-RISK MANAGEMENT C 6734848 SPECIAL FUND-ECONOMIC DEVELOPM 977473 SPECIAL FUND-ENERGY CONSERVATI 235124 RECEIVABLES FROM EMPLOYEES 21836 ACCOUNTS RECEIVABLE FROM ASSOC 42772 SPECIAL FUND-DEFERRED REVENUE 3000000 SPECIAL FUND-DEFERRED COMPENSA 30347 OTHER 114936 28471792 POST-RETIREMENT BENEFIT OBLIGA 1988600 CONSUMER DEPOSITS 1221920 OTHER DEFERRED CREDITS 2529188 ACCRUED TAXES 1122702 ACCRUED EMPLOYEE LEAVE 1831184 CUSTOMER ADVANCES FOR CONSTRUC 12321013 CUSTOMER CCR PREPAYMENTS 5946083 CBM PREPAID COST OF RETIREMENT 17278037 INTEREST ACCRUED 1003307 MISC 717147 45959181 true SCHOLARSHIPS Monitoring procedures (Part I, line 2) The company provides scholarships for secondary education to individuals selected by the Board of Directors. The scholarship funds are paid directly to the schools at the beginning of each semester. The recipients must remain in good standing in order to continue to receive tuition assistance. The Company also has a youth scholarship program for younger students which provides funds for educational and athletic camps. The scholarship program is funded by unclaimed capital credits. X false true X X X X X X false false false MICHAEL EASLEY 210000 0 263 0 4038 0 69328 0 12600 0 296229 0 0 0 FLOYD KANODE 119884 0 1204 0 2341 0 44057 0 7190 0 174676 0 0 0 DAVID SUTTER 143569 0 1153 0 2776 0 49805 0 8450 0 205753 0 0 0 LES PENNING 124595 0 4353 0 4870 0 40847 0 7464 0 182129 0 0 0 MATT DAVIS 125529 0 1153 0 0 0 41401 0 6375 0 174458 0 0 0 01 Benefit information Part I line 1a The Company headquarters are located in a remote rural location in the extreme northeast corner of Wyoming It is occasionally deemed expedient to charter small piston-engined airplanes when company business requires travel outside of our territory This occurs primarily when travel is necessary to one of two destinations The first would be the state capital Cheyenne for regulatory and government meetings or activities affecting the cooperative directly or indirectly The second is the Bismarck North Dakota offices of our principal power supplier Basin Electric Basin is also a cooperative and the Company is therefore an Owner-Member of Basin and participates in its general and special meetings These charters are for business purposes only have no compensatory purposes whatsoeve LES PENNING DUES X 500 120 false true true 120 REUBEN RITTHALER DIRECTOR PURCHASED POWER false 01. Officer, directors, etc. family relationship (Part VI, line 2) Our Directors many of whom are ranchers occasionally enter into transactions with one another for purposes related to that activity An example would be the purchase of hay for stock The transactions typically are for small amounts In 2008 the largest known was approximately 15000 02. Members or stockholder classes and rights (Part VI, line 6) The Company is organized as a cooperative and therefore has Member-Owners who elect a Board of Directors 03. Member election for additional members (Part VI, line 7a) The Company is organized as a cooperative and therefore has Member-Owners who elect a Board of Directors 04. Form 990 governing body review (Part VI, line 11) The Form 990 and accompanying schedules are completed by the staff Financial Analyst and reviewed by the Manager of Finance Following review and revisions the Form 990 and schedules are reviewed by the Chief Financial Officer Any additional revisions are then incorporated into the form and schedules and a final version is prepared for filing The Chief Financial Officer authorizes electronic filing of the final Form 990 and schedules 05. Conflict of interest policy compliance (Part VI, line 12c) Officers and Directors are given annual Conflict of Interest questionnaires to complete All employees are expected to be familiar with the Conflict of Interest provisions of our Code of Ethics Policy and to disclose any situation that violates may violate or could appear to violate the spirit and intent of the policy 06. CEO, executive director, top management comp (Part VI, line 15a) The Company has a Compensation Administration policy which provides that the Board of Directors maintains final authority for compensation administration The Company hires a compensation consultant who provides information on market benchmarks and assists the Company in creating its salary structure The Board of Directors is the ultimate determining body for the salaries of the CEO and the CFO 07. Other officer or key employee compensation (Part VI, line 15b The Company has a Compensation Administration policy which provides that the Board of Directors maintains final authority for compensation administration The Company hires a compensation consultant who provides information on market benchmarks and assists the Company in creating its salary structure The Board of Directors is the ultimate determining body for the salaries of the CEO and the CFO 08. Governing documents, etc, available to public (Part VI, line 19) The Company files an annual financial statement the Form 7 with Rural Development United States Department of Agriculture which is a matter of public record The Company which is organized as a cooperative and therefore serves Member-Owners makes all its governing documents and policies available to them Bylaws are provided when a Member-Owner is enrolled and all other policies are available on request 09. Not undergone required audits or steps for audit (part XII, line 3b) The Company has a non-calendar year audit performed as of June 30th annually 10. Explanation of other changes in net assets or fund balances (Part XI, line 5) The Company allocated capital credits of 10269841 retired member capital credits totaling 2285307 had patronage capital credits assignable remaining of -8059 had net forfeited retired but unclaimed capital credits of -7270 had net change in retired but unclaimed capital credits of 41296 deferred revenue totalling 1100000 and had an adjustment to post-retirement benefits of 39619 11. General explanation attachment SCHEDULE D PART XIV SUPPLEMENTAL INFORMATION Pursuant to FSP FIN 48-3 Effective Date of FASB Interpretation No 48 for Certain Nonpublic Enterprises the Cooperative has elected to defer application of FASB Interpretation No 48 Accounting for Uncertainty in Income Taxes The Cooperative evaluates the components of the annual test for maintenance of its tax-exempt status under Section 501c12 of the Internal Revenue Code of 1986 as amended An accrual for tax liability would occur if at the date of the financial statement it is probable that such a liability has occurred and the amount of the liability can be reasonably estimated PART IV LINE 12 The Company does receive an audited financial statement prepared in accordance with generally accepted accounting principles The Company audit period however is of a fiscal year beginning July 1 and ending June 30 Therefore at this time the comapny has an audited financial statement for the first six months of 2011 only SCHEDULE L PART IV Business Transactions Involving Interested Persons A member of our Board of Directors Reuben Ritthaler is also a member of the Board of Directors of Basin Electric Power Cooperative The Company has an all requirements purchase power contract with Basin It is customary for a member of the Board of an electric distribution cooperative to serve on the Board of the generation and transmission cooperative from which it purchases power SCHEDULE R Related Organizations and Unrelated Partnerships In 2008 the Company established the Powder River Energy Corporation Foundation a charitable organization dedicated to providing donations and grants for charitable purposes in its service territory The Foundation upon establishment shared the Companys Board of Directors but since that time an independent Board of Directors has taken control The Company continue to provide administrative services to the Foundation including accounting banking office space and supplies and communications The Company also processes and transfer donations made through the Operation RoundUp program which allows members to elect to round up their electric bill to the next highest dollar with that amount contributed as a donation to the SCHEDULE J PART III The company headquarters are located in a remote rural location in the extreme northeast corner of Wyoming It is occasionally deemed expedient to charter small piston-engined airplanes when the company business requires travel outside of our service territory This occurs primarily when travel is necessary to two destinations The first would ne the state capital located in Cheyenne for regulatory governmental and associational meetings or activities affecting the Company The second location is the Bismarck North Dakota offices of our principal power supplier Basin Electric Power Cooperative As Basin is a cooperative organization the Company is an Owner-Member of Basin and participates in its general and special meetings PART IX Line 4-The Company listed the 2011 year end net margins allocated as capital credits to members on line 4 Benefits paid to or for members This change in reporting came about from a significant change in the Form 990 in which the instructions clarify that patronage dividends paid by section 501c12 organizations to their members should be reported The Company has been advised that this amount should be allocated patronage and not retired patronage The two year comparison showing the change in reporting can be seen on Part 1 Line 14 Part XII Financial Statements and Reporting numbers 3a and 3b The Company received a grant from the DOE to develop a Smart Grid project The Comapny is scheduled to be audited June 25th through June 29th 2012 by the DOE Part XII Financial Statements and Reporting number 2a b & c The Companys financial statements are compiled internally then audited by independent auditors The Comapny has an Audit Committee that oversees the audit process The Companys fiscal year begins July 1 and ends June 30 PRECORP SERVICES LLC PO BOX 930 Sundance WY 82729 830331925 NO ACTIVITY WY NA POWDER RIVER ENERGY CORP FOUND PO BOX 930 Sundance WY 82729 208802389 CHARITABLE GIVING WY 501C3 NA false