2011-08-01T09:00:13-05:00 2010-12-31 990 2010-01-01 640367992 SOUTH MISSISSIPPI ELECTRIC POWER ASSOCIATION SOUT 6012682083 PO BOX 15849 HATTIESBURG MS 394045849 RAYMOND HALEY 6012682083 2011-08-01 2010 2016-03-07 17:11:31Z JAMES COMPTON PO BOX 15849 HATTIESBURG MS 394045849 779580180 0 X HTTP://WWW.SMEPA.COOP/ X 1941 MS PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNER COOPERATIVES, EACH SERVING RETAIL CONSUMERS. 22 22 390 0 0 0 0 0 773862041 779545767 29887 28893 0 0 773891928 779574660 0 1064562 0 0 28098776 32473034 0 0 0 715316152 716937064 743414928 750474660 30477000 29100000 1153660182 1283119735 974422913 1074782466 179237269 208337269 PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNER COOPERATIVES, EACH SERVING RETAIL CONSUMERS. 0 0 PROVIDE AFFORDABLE AND RELIABLE ELECTRIC ENERGY TO MEMBER COOPERATIVES. THE 11 MEMBER COOPERATIVES PROVIDE SERVICE TO MORE THAN 400,000 METERS IN MISSISSIPPI. SOUTH MISSISSIPPI ELECTRIC AND THE 11 MEMBER SYSTEMS ARE CONSUMER-OWNED, NON-PROFIT BUSINESSES. DURING 2010 SOUTH MISSISSIPPI ELECTRIC PROVIDED MEMBER SYSTEMS WITH 10,645,623 MWH OF ENERGY. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 390 1 0 0 0 0 0 768488308 6585949 0 X 22 22 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MS X RAYMOND HALEY 6012682083 PO BOX 15849 HATTIESBURG MS 394045849 TRAVIS BAXTER 5.20 X 11200 0 0 BILLY BERRY 5.60 X 12000 0 0 ALAN BRADLEY 3.90 X 18400 0 0 JT DUDLEY JR 2.50 X 4000 0 0 FRANK ELY 3.50 X 12000 0 0 WILLIAM H HARDIN 4.90 X X 19200 0 0 HARVEY LEE HEDEGAARD 5.80 X 18400 0 0 W KEITH HURT 6.50 X 22400 0 0 CHARLES A LOPEZ 3.00 X 19200 0 0 DON JORDAN 10.40 X X 24800 0 0 GREG KITCHENS 3.20 X 12000 0 0 MACK MAULDIN 3.30 X X 20800 0 0 PERCY MCCAA 3.80 X 22400 0 0 BRUCE MCCAFFERY 4.80 X 20800 0 0 WR MILLER 3.60 X 7200 0 0 JOHN W MOSLEY 7.90 X 19200 0 0 BOB OCCHI 4.90 X 20800 0 0 JOHN B REED 5.70 X 16000 0 0 RW ROBERTSON 3.20 X 19200 0 0 HARLAN B ROGERS 7.40 X 3200 0 0 JOE SHELTON III 3.10 X 18400 0 0 CH SHELTON 4.30 X 21600 0 0 WILLIAM D SMITH 7.10 X 20000 0 0 LOUIS S THOMPSON 3.50 X 16800 0 0 RANDY WALLACE 3.60 X 19200 0 0 HENRY C WATERER JR 13.80 X X 33600 0 0 JAMES COMPTON 54.00 X 422327 0 128771 RAYMOND HALEY 50.00 X 213464 0 72227 MARCUS WARE 50.00 X 254001 0 84743 NATHAN BROWN 52.00 X 215427 0 59644 TERRY LEE 44.00 X 189518 0 111266 JAMES B EDWARDS 56.00 X 184495 0 42834 BRAD WOLFE 40.00 X 168575 0 42213 ROGER SMITH 50.00 X 160743 0 83850 CHARLES STUART 44.80 X 140882 0 89996 JERRY PIERCE 40.00 X 140685 0 42002 2542917 0 757546 16 0 1 0 URS CORPORATION PO BOX 116183 ATLANTA GA 30368 ENGINEERING/PROJECT MGT 24033634 VOGT POWER 4000 DUPONT CIRCLE LOUISVILLE KY 40207 POWER PLT UPGRADE 16357692 BURNS&MCDONNELL PO BOX 411883 KANSAS CITY MO 64141 ENGINEERING/PROJECT MGT 10626508 JAMES CONSTRUCTION PO BOX 90022 BATON ROUGE LA 70898 POWER PLT UPGRADE 5374775 ALLSTATE TOWER PO BOX 25 HENDERSON KY 42419 MICROWAVE TOWER CONST 3890462 38 SALES TO MEMBERS 221000 768488308 768488308 SALES TO NON-MEMBERS 221000 6331747 6331747 PROGRAM RELATED INVEST 221000 4471510 4471510 BY PRODUCT SALES 221000 254202 254202 779545767 34413 5520 28893 28893 28893 779574660 779574660 0 0 1064562 2131057 20298616 4464196 3565040 2014125 568357 183044 78147 320414 94842 988738 684517 292761 38746427 42682153 1715715 POWER PURCH FOR RESALE 440124570 COAL, NAT. GAS, NUCLEAR 143374163 GENERATION PLANT O & M 24472210 TRANS SYSTEM O & M 17876229 MISCELLANEOUS 4734777 750474660 129455 245291 5169189 15690619 65020834 72127889 105446908 73002350 84116430 99251106 1603579751 636125917 843319887 967453834 50298807 55259533 158672 89113 1153660182 1283119735 67648145 88215612 59169220 59645000 581140865 657973383 100300000 71520000 166164683 197428471 974422913 1074782466 X 0 0 0 0 179237269 208337269 179237269 208337269 1153660182 1283119735 29100000 0 X X 1 1 1 X 1 1 33306491 33306491 268926532 146146851 122779681 1410006 908374 501632 1201673948 438658846 763015102 98262774 50411846 47850928 967453834 PROVISION FOR PENSIONS & BENEFITS 7651300 NUCLEAR DECOMMISSIONING OBLIGATION (ARO) 50334821 DEFERRED CREDIT - PURCHASE POWER AGREEMENT 1320800 DEFERRED CREDITS - GAS HEDGING 33836425 DEFERRED CREDITS - REVENUE 12177044 DEFERRED CREDIT - ECONOMIC DEVELOPMENT & GRANT 3576874 CLEAN AIR (CAIR) PERMITS 12196810 POWER SUPPLY DEVELOPMENT FUND 25000000 MEMBER PREPAYMENTS 51334397 197428471 779574660 750474660 29100000 0 29100000 775074257 0 775074257 4500403 4500403 779574660 745974257 0 745974257 4500403 4500403 750474660 PROGRAM RELATED INVESTMENT INCOME INCLUDED IN AUDITED FINANCIAL STATEMENTS AS CONTRA-EXPENSE $4,471,510: INCLUDED IN FORM 990 AS PROGRAM REVENUE. NET GAIN ON SALE OF FIXED ASSETS INCLUDED IN AUDITED FINANCIAL STATEMENTS AS CONTRA EXPENSE $28,893: INCLUDED ON FORM 990 AS REVENUE. 1 NATL G&T MGR ASSOC NRCO PO BOX 2517 CEDAR RAPIDS IA 52406 352351104 66234 RENEWABLE ENERGY DELTA ELECTRIC POWER ASSN PO BOX 935 GREENWOOD MS 38935 640146265 25000 COCHRAN AQUACULTURE 0 2 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS/LOANS ARE AWARDED BASED ON CRITERIA ADOPTED BY THE SOUTH MISSISSIPPI ELECTRIC POWER ASSOCIATION BOARD OF DIRECTORS. EACH REQUEST IS PRESENTED TO THE BOARD, AND BOARD ACTION IS RECORDED IN BOARD MINUTES. 1 X X X 0 0 0 JAMES COMPTON 411857 0 5000 0 5470 0 114202 0 14569 0 551098 0 0 0 RAYMOND HALEY 200644 0 7512 0 5308 0 59379 0 12848 0 285691 0 0 0 MARCUS WARE 242832 0 9081 0 2088 0 71300 0 13443 0 338744 0 0 0 NATHAN BROWN 204663 0 8061 0 2703 0 46821 0 12823 0 275071 0 0 0 TERRY LEE 179547 0 6484 0 3487 0 98749 0 12517 0 300784 0 0 0 JAMES B EDWARDS 175828 0 4113 0 4554 0 30545 0 12289 0 227329 0 0 0 BRAD WOLFE 160188 0 6079 0 2308 0 29935 0 12278 0 210788 0 0 0 ROGER SMITH 154326 0 3922 0 2495 0 71675 0 12175 0 244593 0 0 0 CHARLES STUART 136773 0 3535 0 574 0 78042 0 11954 0 230878 0 0 0 JERRY PIERCE 135030 0 3277 0 2378 0 34614 0 7388 0 182687 0 0 0 MISISSIPPI BUSINESS FINANCE CORPORATION 640679132 60528BAP7 2009-10-08 40000000 SEE ATTACHED SCHEDULE O 0 0 0 40000000 505167 124380 39875620 2009 1 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 SCHEDULE K SUPPLENTAL INFORMATION THE PURPOSE OF THE BOND ISSUES IS FOR SOUTH MISSISSIPPI ELECTRIC POWER ASSOCIATION TO CONSTRUCT AND INSTALL APPROXIMATELY 2.3 MILES OF NEW 115KV POWER LINES AND SWITCHING STATIONS IN YAZZO CITY, MS AND 2.8 MILES OF NEW 115KV POWER LINES AND SWITCHING STATIONS IN ADAMS COUNTY, MS. BOND PROCEEDS HAVE ALSO BEEN USED FOR THE PURPOSE OF CONSTRUCTION AND/OR PURCHASE AND INSTALLATION OF FIXED IMPROVEMENTS IN CONNECTION THEREWITH OF THE FOLLOWING PROJECTS LOCATED AT THE FOLLOWING ADDRESSES: 1. HEADQUARTERS EXPANSION LOCATED AT 7037 US HWY 49, HATTIESBURG, MS 2. FIELD OPERATIONS CENTER LOCATED AT 3492 HWY 42, HATTIESBURG, MS 3. PLANT MORROW FACILITIES, BUILDING AND OFFICE RENOVATION LOCATED AT 304 OLD OKAHOLA ROAD, PURVIS, MS FORM 990, PART VI, SECTION A, LINE 6 THE BOARD OF DIRECTORS OF SOUTH MISSISSIPPI ELECTRIC POWER ASSOCIATION CONSISTS OF 2 DIRECTORS FROM EACH OF THE 11 MEMBER NONPROFIT DISTRIBUTION COOPERATIVES THAT OWN SOUTH MISSISSIPPI ELECTRIC POWER FOR A TOTAL OF 22 DIRECTORS. ONE OF 2 DIRECTORS SERVING ON SOUTH MISSISSIPPI ELECTRIC POWER ASSOCIATION'S BOARD OF DIRECTORS IS THE GENERAL MANAGER OF THE MEMBER COOPERATIVE AND THE OTHER IS A DIRECTOR SERVING ON THE BOARD OF DIRECTORS OF THE MEMBER COOPERATIVE. THUS THE GENERAL MANAGER AND DIRECTOR FROM EACH MEMBER COOPERATIVE HAVE A BUSINESS RELATIONSHIP WITH EACH OTHER WHILE SERVING AS DIRECTORS FOR SOUTH MISSISSIPPI ELECTRIC POWER ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7A REFERENCE EXPLANATION FOR PART VI, QUESTION 6, AND PART VI QUESTION 15 IN SCHEDULE O. FORM 990, PART VI, SECTION A, LINE 7B REFERENCE EXPLANATION FOR PART VI, QUESTION 6, AND PART VI QUESTION 15 IN SCHEDULE O. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE 2010 FORM 990 WAS REVIEWED WITH THE AUDIT COMMITTEE AND REPORTED TO THE BOARD OF DIRECTORS. ON THE AUDIT COMMITTEE'S RECOMMENDATION, THE BOARD AUTHORIZED THE EXECUTION AND FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ENFORCEMENT - DIRECTORS, OFFICERS, AND KEY EMPLOYEES ANNUALLY COMPLETE, AND SIGN, A QUESTIONNAIRE RELATIVE TO INDEPENDENCE, BUSINESS RELATIONSHIPS, ETC. FORM 990, PART VI, SECTION B, LINE 15 A SALARY SURVEY WAS CONDUCTED IN 2010 BY AN INDEPENDENT ENTITY. FIVE SIMILARLY SIZED GENERATION AND TRANSMISSION COOPERATIVES WERE SURVEYED. THE FOLLOWING POSITIONS WERE SURVEYED: GENERAL MANAGER/CEO, ASSISTANT GENERAL MANAGER, CHIEF ENGINEERING OFFICER, CHIEF FINANCIAL OFFICER, CHIEF OF TRANSMISSION, AND CHIEF OPERATING OFFICER. THE BOARD OF DIRECTORS WAS PROVIDED THE SALARY SURVEY RESULTS. THE BOARD DETERMINES THE SALARY FOR THE GENERAL MANAGER/CEO. THE GENERAL MANAGER/CEO UTILIZED THE SURVEY FOR KEY EMPLOYEES. ADDITIONALLY, THE GENERAL MANAGER/CEO ADVISES THE BOARD OF AVERAGE ANNUAL SALARY INCREASE AS PART OF THE ANNUAL BUDGET APPROVAL PROCESS. APPROVAL OF THE ANNUAL BUDGET IS DOCUMENTED IN BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 RECEPTIONISTS AND COMMUNICATIONS DIRECTOR HAVE BEEN INFORMED THAT THE FORM 990 WILL BE MADE AVAILABLE. A FORM IS UTILIZED FOR PARTIES REQUESTING A COPY OF THE FORM 990. THIS FORM ADVISES REQUESTING PARTIES THAT PHOTOCOPIES WILL BE MADE AVAILABLE UPON RECEIPT OF COPYING FEES (ALSO SPECIFIED IN THE REQUEST FORM). FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XII, LINE 2C THE PROCESSED IS UNCHANGED FROM PRIOR YEARS. BOND PURPOSE SCHEDULE K, PART I, LINE A, COLUMN (F) THE PURPOSE OF THE BOND ISSUES IS FOR SOUTH MISSISSIPPI ELECTRIC POWER ASSOCIATION TO CONSTRUCT AND INSTALL APPROXIMATELY 2.3 MILES OF NEW 115KV POWER LINES AND SWITCHING STATIONS IN YAZOO CITY, MS AND 2.8 MILES OF NEW 115KV POWER LINES AND SWITCHING STATIONS IN ADAMS COUNTY, MS. BOND PROCEEDS HAVE ALSO BEEN USED FOR THE PURPOSE OF CONSTRUCTION AND/OR PURCHASE AND INSTALLATION OF FIXED IMPROVEMENTS IN CONNECTION THEREWITH OF THE FOLLOWING PROJECTS LOCATED AT THE FOLLOWING ADDRESSES: 1. HEADQUARTERS EXPANSION LOCATED AT 7037 US HWY 49, HATTIESBURG, MS 2. FIELD OPERATIONS CENTER LOCATED AT 3492 HWY 42, HATTIESBURG, MS 3. PLANT MORROW FACILITIES, BUILDING AND OFFICE RENOVATION LOCATED AT 304 OLD OKAHOLA ROAD, PURVIS, MS