2011-09-06T13:05:08-05:00 2010-12-31 JACKSON THORNTON & CO PC P O BOX 96 MONTGOMERY AL 361010096 990 2010-01-01 640239641 SINGING RIVER ELECTRIC POWER ASSOCIATION SING 6019474211 11187 OLD 63 SOUTH PO BOX 767 LUCEDALE MS 39452 HARVEY LEE HEDEGAARD 6019474211 2011-08-25 1 PATRICK COOPER 3348347660 2011-08-25 2010 2016-02-24 21:20:13Z X HARVEY LEE HEDEGAARD 11187 OLD 63 SOUTH PO BOX 767 LUCEDALE MS 39452 164441781 0 X WWW.SINGINGRIVER.COM X 1938 MS TO PROVIDE SAFE AND RELIABLE ELECTRIC SERVICE AT THE LOWEST POSSIBLE COST WHILE PROMOTING ENERGY EFFICIENCY AND ENHANCING THE LIVES OF THE MEMBERS AND COMMUNITIES WE SERVE. 9 9 233 0 0 0 0 0 157985433 162430152 1085016 678594 1500375 1313092 160570824 164421838 13227 15412 0 0 647114 670156 0 0 0 152690590 154455044 153350931 155140612 7219893 9281226 276760863 284248162 175089441 172820597 101671422 111427565 TO PROVIDE SAFE AND RELIABLE ELECTRIC SERVICE AT THE LOWEST POSSIBLE COST WHILE PROMOTING ENERGY EFFICIENCY AND ENHANCING THE LIVES OF THE MEMBERS AND COMMUNITIES WE SERVE. 0 0 SINGING RIVER ELECTRIC POWER ASSOCIATION IS AN ELECTRIC DISTRIBUTION COOPERATIVE THAT PROVIDED 70,512 SERVICES TO OVER 53,000 MEMBERS IN SOUTHEAST MISSISSIPPI IN 2010. SINGING RIVER ELECTRIC MAINTAINED DISTRIBUTION LINES IN JACKSON, GEORGE, GREENE, HARRISON, PERRY, STONE AND WAYNE COUNTIES IN MISSISSIPPI AS WELL AS MOBILE AND WASHINGTON COUNTIES IN ALABAMA. UTILIZING ITS 6,984 MILES OF ELECTRIC DISTRIBUTION LINES, SINGING RIVER ELECTRIC SOLD 1,507,668,545 KILOWATT HOURS OF ELECTRIC ENERGY TO ITS MEMBERS. 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 59 0 233 1 0 0 0 0 0 157721063 5399583 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 TAMMY HULTZ 6019474211 11187 OLD 63 SOUTH LUCEDALE MS 39452 RALPH HICKS 4.00 X 27500 0 0 RONALD HALL 7.00 X 29000 0 0 KRISTAL SISSON 6.00 X 28375 0 0 CARY WILLIAMS 6.00 X 26050 0 0 TRAVIS BAXTER 4.00 X 26275 0 0 SJ HENDERSON 2.00 X 23875 0 0 GA PARNELL 4.00 X 25425 0 0 FRANK ELY 5.00 X 27525 0 0 ROY GRAFE 7.00 X 17350 0 0 HARVEY LEE HEDEGAARD 65.00 X 224583 0 90655 TAMMY Y HULTZ 50.00 X 99322 0 24221 MICHAEL R SMITH 50.00 X 134634 0 64624 HORACE J NECAISE III 50.00 X 110510 0 72480 800424 0 251980 3 0 1 0 TREELINE SERVICES LLC PO BOX 409 RANBURNE AL 36273 RIGHT OF WAY SERVICES 1717885 SOUTHERN ROW & LINE CLEARANCE 6603 BAKER ROAD VANCLEAVE MS 39565 RIGHT OF WAY SERVICES 1511565 US POSTAL SERVICE 209 COX STREET LUCEDALE MS 39452 POSTAGE 264481 FLETCHER CONSTRUCTION CO INC PO DRAWER 1509 PASCAGOULA MS 39568 GENERAL PLANT & SUBSTATION CONSTRUCTION 245713 JW LEE COMPANY INC 10131 SOUTHPARK DR GULFPORT MS 39503 CONSTRUCTION WORK 119873 5 SALES OF ELECTRICITY 221000 157721063 157721063 PATRONAGE CAPITAL 221000 4709089 4709089 162430152 642037 642037 1309602 1309602 1309602 1309602 48090 11533 36557 36557 36557 11900 8410 3490 3490 164421838 162433642 0 1988196 15412 670156 6539700 6983859 COST OF POWER 119801040 DIST EXP-MAINTENANCE 6198956 ADMIN & GEN EXPENSES 5964678 CONSUMER ACCOUNTS EXP 5953377 DIST EXP-OPERATIONS 2997834 15600 155140612 16520925 17383674 14613000 9558000 11549772 11096001 1993292 3314537 1642808 1545911 25927 60117 262339846 58056188 197993227 204283658 31688227 36290111 733685 716153 276760863 284248162 12900676 14469861 139128999 134665990 23059766 23684746 175089441 172820597 X 280945 282890 0 0 101390477 111144675 101671422 111427565 276760863 284248162 X 9281226 474917 X X 0 1 1 X 0 2303160 2303160 260036686 58056188 201980498 204283658 PATRONAGE CAPITAL - SOUTH MISSISSIPPI ELECTRIC POWER ASSOCIATION 32412667 C CAPITAL TERM CERTIFICATES 2184402 C OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS 1693042 C 36290111 ACCUMULATED POST-RETIREMENT BENEFIT OBLIGATION 18983044 DEFERRED COMPENSATION 716153 CURRENT PORTION OF FAS 106 MATURITIES 1119100 CUSTOMER DEPOSITS 2866449 23684746 164421838 155140612 9281226 474917 474917 9756143 164421838 0 164421838 0 164421838 155140612 0 155140612 0 155140612 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: INCOME TAXES - THE ASSOCIATION IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(12). THE FINANCIAL ACCOUNTING STANDARDS BOARD ISSUED NEW GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE ASSOCIATION ADOPTED THIS NEW GUIDANCE FOR THE YEAR ENDED DECEMBER 31, 2009. MANAGEMENT EVALUATED THE ASSOCIATION'S TAX POSITIONS AND CONCLUDED THAT THE ASSOCIATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE ASSOCIATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE UNITED STATES FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2007. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGES IN DONATED CAPITAL 13,805. AMORTIZATION OF UNRECOGNIZED LOSSES 189,200. AMORTIZATION OF THE TRANSITION OBLIGATION 270,000. CHANGE IN MEMBERSHIPS 1,945. ROUNDING CORRECTIONS ASSOCIATED WITH NEW SOFTWARE CONVERSION -33. 1 X PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: NEIGHBORS HELPING NEIGHBORS COMMUNITY GRANTS HELP SINGING RIVER ELECTRIC MERGE EFFORTS WITH THE HARD WORK OF THOSE WITHIN OUR COMMUNITIES. THE PROGRAM AWARDS TWO GRANTS FOR UP TO $2500 EACH, THREE TIMES A YEAR IN JANUARY, MAY, AND SEPTEMBER. THE GRANTS ARE AVAILABLE TO NON-PROFIT ORGANIZATIONS HELPING COMMUNITIES WITHIN SINGING RIVER ELECTRIC'S SERVICE TERRITORY IN EDUCATION, CIVIC, COMMUNITY DEVELOPMENT AND ECONOMIC DEVELOPMENT. X X X 0 0 0 HARVEY LEE HEDEGAARD 211893 0 7700 0 4990 0 70281 0 20374 0 315238 0 0 0 MICHAEL R SMITH 126702 0 4698 0 3234 0 45552 0 19072 0 199258 0 0 0 HORACE J NECAISE III 102922 0 3794 0 3794 0 53764 0 18716 0 182990 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 SINGING RIVER ELECTRIC POWER ASSOCIATION IS A NOT-FOR-PROFIT MEMBERSHIP ORGANIZATION WHOSE MEMBERS HAVE IDENTICAL VOTING RIGHTS AND ARE ASSIGNED MARGINS IN ACCORDANCE WITH THE ASSOCIATION'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF SINGING RIVER ELECTRIC POWER ASSOCIATION MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B PER THE BYLAWS, THE MEMBERS MUST APPROVE PROPOSALS TO SELL, LEASE, OR OTHERWISE DISPOSE OF MORE THAN TEN PERCENT OF THE ASSOCIATION'S PROPERTY. FORM 990, PART VI, SECTION B, LINE 11 TAMMY HULTZ, MANAGER OF ACCOUNTING & FINANCE, AND LEE HEDEGAARD, CEO AND GENERAL MANAGER, REVIEWED A COMPLETED COPY OF THE FORM 990. THE FORM 990 WAS THEN PRESENTED TO AND REVIEWED WITH THE BOARD OF DIRECTORS AT ONE OF THE BOARD OF DIRECTOR MEETINGS PRIOR TO FILING THE FORM WITH THE INTERNAL REVENUE SERVICE. THE PRESENTATION OF THE FORM TO THE DIRECTORS IS REFLECTED IN THE BOARD MINUTES. LEE HEDEGAARD THEN SIGNED THE IRS E-FILE AUTHORIZATION FORM ALLOWING THE FORM 990 TO BE ELECTRONICALLY FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C SINGING RIVER ELECTRIC POWER ASSOCIATION HAS A BOARD POLICY NAMED THE "BOARD OF DIRECTORS AND OFFICERS CODE OF ETHICS." THE POLICY INCLUDES A CERTIFICATION OF COMPLIANCE, AND EACH BOARD MEMBER AND OFFICER SIGNS THE CERTIFICATE ANNUALLY TO STATE THEY HAVE READ AND FULLY UNDERSTOOD THE "BOARD OF DIRECTORS AND OFFICERS CODE OF ETHICS" AND RECOGNIZE THAT HE/SHE IS SUBJECT TO THE CODE. FORM 990, PART VI, SECTION B, LINE 15 SINGING RIVER ELECTRIC POWER ASSOCIATION HAS A BOARD POLICY THAT IS NAMED THE "GENERAL MANAGER AND CEO EVALUATION AND COMPENSATION." A COMMITTEE FROM THE BOARD OF DIRECTORS COMPLETES AN EVALUATION REGARDING THE GENERAL MANAGER & CEO'S PERFORMANCE. THE GENERAL MANAGER & CEO'S COMPENSATION IS COMPARED TO NATIONAL, STATE, AND REGIONAL COMPENSATION FOR OTHER GENERAL MANAGERS OF SIMILAR SIZE TO SINGING RIVER ELECTRIC POWER ASSOCIATION. THE GENERAL MANAGER & CEO USES COMPARABLE COMPENSATION DATA WHEN REVIEWING AND EVALUATING THE COMPENSATION OF THE OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 SINGING RIVER ELECTRIC POWER ASSOCIATION ALLOWS MEMBERS TO INSPECT A COPY OF THE BY-LAWS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AT THE MAIN OFFICE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CHANGES IN DONATED CAPITAL 13,805. AMORTIZATION OF UNRECOGNIZED LOSSES 189,200. AMORTIZATION OF THE TRANSITION OBLIGATION 270,000. CHANGE IN MEMBERSHIPS 1,945. ROUNDING CORRECTIONS ASSOCIATED WITH NEW SOFTWARE CONVERSION -33. TOTAL TO FORM 990, PART XI, LINE 5: 474,917. FORM 990, PART XII, LINE 2C SINGING RIVER ELECRIC POWER ASSOCIATION DID NOT CHANGE ITS PROCESSES OF OVERSIGHT AND SELECTION FOR THE YEAR ENDED DECEMBER 31, 2010.