2012-11-14T12:01:30-06:00 2011-12-31 620647474 BLACKBURN CHILDERS & STEAGALL PLC 440 EAST SULLIVAN STREET KINGSPORT TN 37660 990 2011-01-01 540169578 CITIZENS' TELEPHONE COOPERATIVE CITI 5407452111 220 WEBBS MILL ROAD P O BOX 137 FLOYD VA 24091 J GREGORY SAPP 5407452111 2012-11-14 1 CHAD KISNER P00738241 4232461725 2012-11-12 2011 2016-02-24 21:20:13Z J GREGORY SAPP 220 WEBBS MILL ROAD P O BOX 137 FLOYD VA 24091 10068865 0 X WWW.CITIZENS.COOP X 1953 VA CITIZENS' TELEPHONE COOPERATIVE PROVIDES TELECOMMUNICATIONS SERVICES, SUCH AS PHONE, INTERNET, VIDEO, AND CELLULAR, FOR MEMBERS OF THE COOPERATIVE. 8 8 64 0 96471 35728 137033 250621 8451711 8681784 13846 11455 1176812 1125005 9779402 10068865 0 0 0 0 0 0 0 0 0 8383836 8780993 8383836 8780993 1395566 1287872 24420926 23917156 13484035 11790106 10936891 12127050 CITIZENS' TELEPHONE COOPERATIVE PROVIDES TELECOMMUNICATIONS SERVICES, SUCH AS PHONE, INTERNET, VIDEO, AND CELLULAR, FOR MEMBERS OF THE COOPERATIVE. 0 0 CITIZENS' TELEPHONE COOPERATIVE AND ITS SUBSIDIARIES PROVIDE LOCAL AND LONG DISTANCE TELEPHONE SERVICE; PROVIDE, SELL, AND LEASE COMMUNICATION EQUIPMENT; PROVIDE HIGH-SPEED INTERNET, DIAL-UP INTERNET, AND CABLE TELEVISION FOR MEMBERS OF THE COOPERATIVE. 0 1 0 0 0 0 0 0 0 1 1 0 1 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 0 0 0 1 9 0 1 64 1 1 1 0 0 0 0 0 0 0 0 6832585 998460 0 X 8 8 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X CHRIS J BOND 5407452111 220 WEBBS MILL ROAD P O BOX 137 FLOYD VA 24091 MELVIN GEARHART 1.00 X X 5600 0 0 RUSSELL STUMP 1.00 X X 4800 0 0 SHELBY QUESENBERRY 1.00 X X 5600 0 0 NOEL UNDERWOOD 1.00 X 4800 0 0 JOHN HOWELL 1.00 X 4800 0 0 WARD REECE 1.00 X 4800 0 0 LYNWOOD ALLEN 1.00 X 4800 0 0 WESLEY GOFF 1.00 X 4800 0 0 J GREGORY SAPP 45.00 X 136723 0 27134 CHRIS J BOND 45.00 X 65629 0 19823 242352 0 46957 1 0 1 0 LAMBERTS CABLE SPLICING LLC P O BOX 563 SHARPSBURG NC 27828 FIBER PROJECT 173527 CONTRACTING ENTERPRISES INC 2003 RUSSELL AVENUE SW ROANOKE VA 24036 LINE EXTENSION PROJECTS 169511 2 250621 250621 GROSS PROGRAM SERVICE 517000 8681784 8597328 84456 8681784 11455 11455 GROSS NON-MEMBER INCOM 517000 1125005 1112990 12015 1125005 10068865 9710318 96471 11455 134171 1464858 PLANT SPECIFIC EXPENSES 2595195 CORPORATE OPERATIONS 1876913 PLANT NON-SPECIFIC EXPE 1306374 CUSTOMER OPERATIONS 1258668 144814 8780993 175865 160832 686006 308451 6366816 5421147 214884 177168 39851 22275 41952614 28444838 13231061 13507776 2251321 2268682 1455122 2050825 24420926 23917156 1888076 362809 4608769 5586841 6650576 5577355 336614 263101 13484035 11790106 X 1245 1245 0 0 10935646 12125805 10936891 12127050 24420926 23917156 X 1287872 -97713 X X 0 1 1 X 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 196584 196584 41756030 28444838 13311192 13507776 2200000 C ASSOC NETWORK PARTNERS, INC. 4700 C NECA SERVICES, INC. 3000 C VA INDEPENDENT TELEPHONE ALLIANCE 60982 C 2268682 UNAMORTIZED DEBT ISSUANCE EXPENSE - LTD 6984 TELEPHONE PLANT UNDER CONSTRUCTION 2043841 2050825 ADVANCE BILLING AND PAYMENTS 2451 CUSTOMER DEPOSITS 31590 ACCRUED LICENSE TAX 2836 OTHER ACCRUED LIABILITIES 189940 ACCRUED PAYROLL TAXES 19298 PATRONAGE CAPITAL PAYABLE 16986 263101 10068865 8780993 1287872 -97713 -97713 1190159 10068865 0 10068865 0 10068865 8780993 0 8780993 0 8780993 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: NOTE 17 - UNCERTAIN TAX POSITIONS: THE COOPERATIVE FOLLOWS THE PROVISIONS OF UNCERTAIN TAX POSITIONS AS ADDRESSED IN THE FASB ASC. THE COOPERATIVE DID NOT HAVE UNRECOGNIZED TAX LIABILITIES AS OF JUNE 30, 2012 AND DOES NOT EXPECT THIS TO CHANGE SIGNIFICANTLY OVER THE NEXT 12 MONTHS. THE COOPERATIVE WILL RECOGNIZE INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX LIABILITIES AS A COMPONENT OF INCOME TAX EXPENSE. AS OF JUNE 30, 2012, THE COOPERATIVE HAS NOT ACCRUED INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. ALL COMPANIES' FEDERAL AND VIRGINIA INCOME TAX RETURNS FOR TAX YEARS 2009 AN BEYOND REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 8 - OTHER ADJUSTMENTS: INCREASE (DECREASE) IN PATRONAGE CAPITAL ACCOUNTS -97,713. X X X 0 0 0 J GREGORY SAPP 136723 0 0 0 0 0 14048 0 13086 0 163857 0 0 0 PART I, LINE 1A NOT APPLICABLE PART I, LINE 1B NOT APPLICABLE FORM 990, PART VI, SECTION A, LINE 6 CITIZENS' TELEPHONE COOPERATIVE IS A MEMBER-OWNED TELEPHONE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ARE RESPONSIBLE FOR VOTING FOR THE BOARD OF DIRECTORS EACH YEAR AT THE COOPERATIVE'S ANNUAL MEETING. THE EIGHT BOARD MEMBERS EACH SERVE THREE YEAR TERMS AND THEY ARE ON A ROTATING BASIS. THREE BOARD POSITIONS ARE UP FOR ELECTION ONE YEAR, THREE THE NEXT, AND THEN TWO, AND SO ON. FORM 990, PART VI, SECTION B, LINE 11 A COMPLETE COPY OF THE ORGANIZATION'S FINAL FORM 990 (INCLUDING ALL REQUIRED SCHEDULES), AS ULTIMATELY FILED WITH THE INTERNAL REVENUE SERVICE, WAS PROVIDED TO EACH PERSON WHO WAS A VOTING MEMBER OF THE GOVERNING BODY AT THE TIME THE FORM 990 WAS PROVIDED, WHETHER IN PAPER OR ELECTRONIC FORM, BEFORE ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CURRENTLY THE CONFLICT OF INTEREST POLICY IS NOT SIGNED OFF ON BY THE BOARD OF DIRECTORS ON A ANNUAL BASIS. IT IS IN THE COOPERATIVE'S BYLAWS, WHICH ARE PRINTED IN THE COOPERATIVE'S DIRECTORY EACH YEAR AND IN THE BOARD MANUAL, WHICH EACH BOARD MEMBER RECEIVES. THE BOARD OF DIRECTORS INTENDS TO HAVE IT ON THEIR AGENDA TO DECIDE WHETHER OR NOT TO HAVE THE CONFLICT OF INTEREST POLICY REVIEWED AND SIGNED OFF ON ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 CITIZENS' TELEPHONE COOPERATIVE HAS AN ANNUAL PERFORMANCE REVIEW OF TOP MANAGEMENT. THE BOARD OF DIRECTORS DOES THE ANNUAL PERFORMANCE REVIEW OF THE GENERAL MANAGER, WHICH ENCOMPASSES COMPANY GOALS AND OBJECTIVES WHICH ARE SET FOR THE GENERAL MANAGER'S CONTRACT, WHICH RUNS FROM JANUARY TO DECEMBER OF EACH YEAR. THE PERFORMANCE REVIEWS ARE NOTED IN THE BOARD OF DIRECTORS MINUTES. FIVE YEARS AGO, THE PREVIOUS GENERAL MANAGER RETIRED. THE BOARD OF DIRECTORS HAD ADVANCE NOTICE THAT THE PRIOR GENERAL MANAGER WAS PLANNING TO RETIRE. THE CURRENT GENERAL MANGER WAS ASSISTANT GENERAL MANAGER AT THAT TIME, AND HE WAS GROOMED FOR THE POSITION OF GENERAL MANAGER BY THE PRIOR GENERAL MANAGER. FORM 990, PART VI, SECTION C, LINE 19 CITIZENS' TELEPHONE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: INCREASE (DECREASE) IN PATRONAGE CAPITAL ACCOUNTS -97,713. TOTAL TO FORM 990, PART XI, LINE 5: -97,713. FINANCIAL STATEMENTS AND REPORTING FORM 990, PART XII, LINE 2C THE COOPERATIVE'S PROCESS FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND FOR SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. THE BOARD OF DIRECTORS ALSO ACTS AS THE AUDIT COMMITTEE. BOTH THE COOPERATIVE AND EACH OF ITS TWO SUBSIDIARIES' YEARENDS ARE DECEMBER 31, 2011. HOWEVER, CONSOLIDATED FINANCIAL STATEMENTS FOR THE PARENT AND ITS TWO SUBSIDIARIES WILL BE PREPARED AS OF JUNE 30, 2012. CITIZENS CABLEVISION INC 220 WEBBS MILL ROAD FLOYD VA 24091 050572816 CABLE TV VA N/A C 1.00000 SELECTEC INC 220 WEBBS MILL ROAD FLOYD VA 24091 541252852 SALES / LEASING VA N/A C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 CITIZENS CABLEVISION INC P 405938 A/P INVOICES PARENT PAID FOR SUB CITIZENS CABLEVISION INC N 3044237 LABOR PARENT PAID FOR SUB CITIZENS CABLEVISION INC O 25813 MISC AMOUNTS SUB PAID FOR PARENT CITIZENS CABLEVISION INC R 1662593 SUB'S REVENUE COLLECTED BY PARENT CITIZENS CABLEVISION INC Q -1305710 AMOUNT PARENT PAID TO SUB SELECTEC INC P 972808 A/P INVOICES PARENT PAID FOR SUB SELECTEC INC N 16689 LABOR PARENT PAID FOR SUB SELECTEC INC A 5160 RENT SUB OWES TO PARENT SELECTEC INC Q 4997 MISC CASH PARENT OWES SUB SELECTEC INC R 73621 SUB'S REVENUE COLLECTED BY PARENT SELECTEC INC Q -447759 AMOUNT PARENT PAID TO SUB SELECTEC INC O 379382 A/P SUB PAID FOR PARENT