2011-06-14T11:00:26-05:00 2010-12-31 LARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2010-01-01 390544115 POLK-BURNETT ELECTRIC COOPERATIVE POLK 8004210283 1001 STATE HIGHWAY 35 CENTURIA WI 548240310 WILLIAM SCHMIDT 8004210283 2011-05-23 1 DEAN ROHNE 5074347000 2010 2016-02-24 21:20:13Z WILLIAM SCHMIDT 1001 STATE HIGHWAY 35 CENTURIA WI 548240310 32398269 0 X WWW.POLKBURNETT.COM X 1938 WI TO PROVIDE ELECTRICITY AND MERCHANDISE TO MEMBERS OF THE COOPERATIVE. 9 9 66 0 20421 0 0 0 29890186 31372896 561326 79942 731353 774178 31182865 32227016 0 0 0 0 802343 842255 0 0 0 27929626 29568638 28731969 30410893 2450896 1816123 71224177 74045005 45329864 46937948 25894313 27107057 THE MISSION OF POLK-BURNETT IS TO PROVIDE QUALITY SERVICES AND PRODUCTS BENEFICIAL TO OUR MEMBERS, CUSTOMERS AND COMMUNITIES. 0 0 RURAL ELECTRIC COOPERATIVE-SALE OF ELECTRICITY & MERCHANDISE TO MEMBERS OF THE COOPERATIVE. 0 0 0 0 0 0 0 0 1 0 1 0 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 1 1 0 1 23 0 1 66 1 1 1 0 0 0 0 31742816 1345613 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X TERILYN WALLIS 7156462191 1001 STATE HIGHWAY 35 CENTURIA WI 54824 EDWARD WEBER 11.20 X X 7830 0 0 ED GULLICKSON 5.20 X X 7350 0 0 MIKE MORRIS 3.90 X X 4775 1225 0 MARLYN H BOTTOLFSON 4.40 X 5600 1225 0 JEFF PETERSON 2.50 X 4075 0 0 THOMAS SWENSON 3.60 X 5025 0 0 CYNTHIA A THORMAN 5.50 X 6275 0 0 ROBERT R THORSBAKKEN 5.00 X 5225 1375 0 WILLIAM O WAGNER 3.90 X 4000 0 0 WILLIAM SCHMIDT 55.00 X 153725 0 99709 TERILYN WALLIS 55.00 X 104529 0 61735 PATSY BEETCHER 55.00 X 137177 0 53519 JOSEPH SOBOL 55.00 X 222208 0 65705 667794 3825 280668 4 0 1 0 ZIELE'S TREE SERVICE 1805 MAIN STREET W ASHLAND WI 54806 TREE CUTTING SERVICE 451270 OSMOSE UTILITIES SERVICES INC PO BOX 8000 BUFFALO MN 14209 HERBICIDE APPLICATION 201507 PUSH INC PO BOX 72 RICE LAKE WI 54868 LINE CONSTRUCTION 187058 3 SALE OF POWER 221000 31372896 31372896 31372896 79942 79942 12000 16081 29819 -17819 16081 -1738 16081 -17819 94523 141434 -46911 -46911 CAPITAL CREDITS 900099 824809 824809 POWER NET GLOBAL 812900 4340 4340 ROYALTY INCOME 900099 -6322 -6322 822827 32227016 32150794 20421 55801 842255 2315865 2917047 COST OF POWER 16664838 ADMIN & GEN EXPENSE 2310647 DIST EXP-MAINT 2297667 DIST EXP-OPERATIONS 1282537 CONSUMER ACCOUNT EXPENS 738174 1041863 30410893 1397641 3457686 2175326 2733457 590626 568183 1541251 662508 73293305 16936395 55844804 56356910 899464 899464 8775065 9366797 71224177 74045005 4347060 4655796 40313888 41526455 668916 755697 45329864 46937948 X 0 0 0 0 25894313 27107057 25894313 27107057 71224177 74045005 X 1816123 -603379 X X 0 1 1 X 0 201751 201751 6151275 1664563 4486712 8204994 6293566 1911428 58735285 8978266 49757019 56356910 PATRONAGE CAPITAL IN ASSOCIATED ORGS 8076492 C CAPITAL TERM CERTIFICATES 1270437 C OTHER PROGRAM RELATED INVESTMENTS 19868 C 9366797 DEFERRED CREDITS 755697 755697 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COOPERATIVE ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ON JANUARY 1, 2009. THE COOPERATIVE WILL RECOGNIZE ANY ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED BENEFITS IN INCOME TAX, IF INCURRED. THE COOPERATIVE'S PREVIOUS 3 TAX YEARS ARE OPEN FOR EXAMINATION BY THE INTERNAL REVENUE SERVICE. X X X X 1 0 0 WILLIAM SCHMIDT 153725 0 0 0 0 0 87608 0 12101 0 253434 0 0 0 TERILYN WALLIS 104529 0 0 0 0 0 49135 0 12600 0 166264 0 0 0 PATSY BEETCHER 137177 0 0 0 0 0 53519 0 0 0 190696 0 0 0 JOSEPH SOBOL 222208 0 0 0 0 0 65705 0 0 0 287913 0 0 0 PART I, LINE 4A PATSY BEETCHER - SEVERANCE PAYMENT - $21,492 JOSEPH SOBOL - SEVERANCE PAYMENT - $64,193 EIGHT POSITIONS WITHIN THE ORGANIZATION WERE ELIMINATED AS OF NOVEMBER 1, 2010. THESE TWO SENIOR STAFF POSITIONS WERE ELIMINATED. FORM 990, PART VI, SECTION A, LINE 6 ALL CUSTOMERS OF THE COOPERATIVE THAT PURCHASE ELECTRICTY ARE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE COOPERATIVE HAS THE RIGHT TO ELECT THE BOARD MEMBER WITHIN THE DISTRICT THEY RESIDE. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B BYLAW AMENDMENTS ADOPTED BY THE BOARD MUST BE PRESENTED TO THE MEMBERS AT THE ORGANIZATION'S ANNUAL MEETING. ANY BOARD DECISION RELATING TO MERGERS, ACQUISITION, OR DISSOLUTION OF THE COOPERATIVE ARE SUBJECT TO MEMBER APPROVAL AT THE ANNUAL MEETING OR AT A SPECIAL MEETING OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 MANAGEMENT PRESENTED THE 990 TO THE BOARD FOR REVIEW PRIOR TO FILING THE FORM WITH THE IRS. COPIES OF THE 990 WERE NOT PROVIDED TO THE GOVERNING BODY BUT IT WAS DISPLAYED USING AN OVERHEAD PROJECTOR DURING A MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS ENFORCED WHENEVER NECESSARY AND REVIEWED ON AN ANNUAL BASIS. BOTH THE SYSTEM LEGAL COUNCIL AND GENERAL MANAGER REVIEW THE POLICY AND BRING CHANGES AND/OR AMENDMENTS BEFORE THE BOARD FOR ADOPTION. THE COOPERATIVE BOARD ELECTS A THIRD OF IT'S DIRECTORS ANNUALLY. THE ANNUAL REVIEW OF THE POLICY TAKES PLACE EACH JUNE WHICH IS THE FIRST BOARD MEETING AFTER THE ANNUAL BOARD MEMBER ELECTION. ANNUALLY EACH BOARD MEMBER SIGNS A DIRECTOR PLEDGE ACKNOWLEDGING AGREEMENT WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 ALL EMPLOYEE POSITIONS OF THE COOPERATIVE ARE SUBJECT TO A WAGE AND BENEFIT STUDY CONDUCTED BY MRA, AN INDEPENDENT THIRD PARTY LOCATED IN MILWAUKEE, WI. THE STUDY WAS LAST PERFORMED IN 2004. IN 2009 THERE WAS A WAGE FREEZE ON ALL EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE THROUGH THEIR WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: RETIREMENT OF CAPITAL CREDITS -603,379. TOTAL TO FORM 990, PART XI, LINE 5: -603,379. PART XI, LINE 2C: THE COOPERATIVE'S BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS CONSOLIDATED FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT ACCOUNTANT. POLK-BURNETT CHARITIES INC 1001 STATE HIGHWAY 35 CENTURIA WI 54824 391924542 DONATIONS TO COMMUNITY BUSINESSES WI 501(C)(3) LINE 9 POLK-BURNETT ELECTRIC COOPERATIVE 0 POLK-BURNETT ECONOMIC DEVELOPMENT CORPORATION 1001 STATE HIGHWAY 35 CENTURIA WI 54824 391824628 REAL ESTATE DEVELOPMENT WI POLK-BURNETT ELECTRIC COOPERATIVE C -1126 10583 1.00000 POLK-BURNETT DIVERSIFIED INC 1001 STATE HIGHWAY 35 CENTURIA WI 54824 203540722 HOLDING COMPANY WI POLK-BURNETT ELECTRIC COOPERATIVE C -200801 1592779 1.00000 POLK-BURNETT PROPANE SERVICES INC 1001 STATE HIGHWAY 35 CENTURIA WI 54824 203460024 PROPANE SALES AND SERVICE WI POLK-BURNETT DIVERSIFIED INC C -7865 4100952 1.00000 NORTHWESTERN WISCONSIN SECURITY INC 1001 STATE HIGHWAY 35 CENTURIA WI 54824 203460524 SECURITY SERVICES WI POLK-BURNETT DIVERSIFIED INC C -177553 412914 1.00000 1 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 0 POLK-BURNETT PROPANE SERVICES INC A 12000 ACTUAL PAYMENTS POLK-BURNETT PROPANE SERVICES INC Q 551028 ACTUAL PAYMENTS POLK-BURNETT CHARITIES INC Q 52126 ACTUAL PAYMENTS