2011-10-31T15:36:05-05:00 2010-12-31 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2010-01-01 740758801 MAGIC VALLEY ELECTRIC COOPERATIVE INC MAGI 9565141200 P O DRAWER 267 MERCEDES TX 785700267 JOHN W HERRERA 9565141200 2011-10-25 1 Matt R Willis 8067473806 2011-10-24 2010 2016-03-07 17:11:31Z JOHN W HERRERA P O DRAWER 267 MERCEDES TX 785700267 198573874 0 X WWW.MAGICVALLEY.COOP X 1937 TX TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 7 7 260 0 28173 27173 0 0 185055311 197828567 234604 170284 311485 575023 185601400 198573874 0 96707 0 0 9761579 10069375 0 0 0 155983983 163312804 165745562 173478886 19855838 25094988 278458355 296186451 162855541 159017491 115602814 137168960 THE COOPERATIVE'S RESPONSIBILITY AND AIM IS TO PROVIDE EXCELLENT AND INNOVATIVE CUSTOMER SERVICE AS REFLECTED IN TOP QUALITY ELECTRIC SERVICE RELIABILITY, AFFORDABLE RATES, EMPLOYEE TEAMWORK AND THE HIGHEST DEGREE OF INTEGRITY IN ALL COOPERATIVE ENDEAVORS. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 95,529 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. 0 0 0 0 0 0 1 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 8 0 260 1 1 1 0 0 0 0 187797110 764037 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 0 1 1 0 X JOHN W HERRERA 9565141200 1 3/4 MILES WEST HWY 83 MERCEDES TX 785700267 MARTIN GARCIA 11.10 X X 18918 0 0 REYNALDO LOPEZ 7.50 X X 22146 0 0 BARBARA S MILLER 8.10 X X 22146 0 0 MG DYER 10.80 X X 20846 0 0 DOUGLAS MARTIN 3.50 X 13696 0 0 ROLANDO ALANIZ 6.20 X 21496 0 0 FRANK BURNS 3.50 X 13371 0 0 JOHN W HERRERA 40.00 X 188583 0 81185 JOHN J CIZLER 45.00 X 129521 0 108052 ELLA DE LA ROSA 40.00 X 120021 0 88272 BRADLEY E BIERSTEDT 40.00 X 114543 0 44647 RICHARD L TRUSSELL 40.00 X 103558 0 60065 788845 0 382221 5 0 1 0 T & D SOLUTIONS PO BOX 11948 ALEXANDRIA LA 71315 CONSTRUCTION 3236632 ASPLUNDH TREE EXPERT CO PO BOX 532729 ATLANTA GA 30353 TREE TRIMMING 835067 FIDELITY NATIONAL INFORMATION SERVICES PO BOX 18012 ASHBURN VA 20146 BILLING SERVICES 733332 LAW OFFICE OF RUBEN PENA 700 PAREDES SUTIE 103 BROWNSVILLE TX 78521 LEGAL SERVICES 217922 ELECTRICAL SYSTEMS CONSULTANTS INC 3540 JFK PARKWAY FORT COLLINS CO 80525 CONSULTING 185934 8 ELECTRICITY SALES 221000 185650646 185650646 PATRONAGE DIVIDENDS 221000 10900251 10900251 CONNECT FEES 221000 1277670 1277670 197828567 126554 126554 546850 546850 546850 546850 43730 43730 43730 43730 BILLING SERVICE FEE 561499 28173 28173 28173 198573874 197828567 28173 717134 96707 639959 6090092 1217700 1637515 484109 6586269 6977837 PURCHASED POWER 137695127 DISTRIBUTION EXPENSE 4887325 ADMIN & GENERAL EXP 3834409 CUSTOMER SERVICE 3219745 UNRELATED BUS. INC TAX 6073 106019 173478886 1068461 1657834 21966278 21043261 17139119 17484384 3565675 3248879 2361970 2443399 257410592 40975206 209793486 216435386 22547745 33278335 15621 594973 278458355 296186451 11656468 11546055 560998 609523 138546203 134279924 12091872 12581989 162855541 159017491 X 407975 422090 0 0 115194839 136746870 115602814 137168960 278458355 296186451 X 25094988 -3528842 X X 0 1 1 X 0 0 1 214094 214094 9333672 2468674 6864998 235086458 38506532 196579926 12776368 12776368 216435386 PATRONAGE CAPITAL - CFC 2119708 C PATRONAGE CAPITAL - TEXAS ELECTRIC COOPERATIVES, INC. 1238427 C CAPITAL TERM CERTIFICATES - CFC 4069784 C INVESTMENT IN CFC MEMBERSHIP 1000 C OTHER INVESTMENTS 1060 C NON UTILITY PROPERTY 30846 C CONTRIBUTED CAPITAL - STEC 11199850 C PATRONAGE CAPITAL - STEC 14516701 C MEMBER CAPITAL SECURITIES - CFC 100000 C PATRONAGE CAPITAL - COBANK 959 C 33278335 CUSTOMER DEPOSITS 4960426 ACCRUED TAXES 2781564 ACCRUED INTEREST 512424 ACCRUED COMPENSATED ABSENCES 1281846 PATRONAGE CAPITAL PAYABLE 2517370 OTHER CURRENT & ACCRUED LIABILITIES 528359 12581989 198573874 173478886 25094988 -3528842 -3528842 21566146 198591327 17453 17453 198573874 0 198573874 173496339 17453 17453 173478886 0 173478886 Part IV, Line 2b: PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED A RURAL SCHOLARSHIP FUND WITH RETIREMENTS OF PATRONAGE CAPITAL, WHICH HAVE REMAINED UNCLAIMED FOR A PERIOD OF THREE YEARS. THE AMOUNTS DEPOSITED INTO THE RURAL SCHOLARSHIP FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR SCHOLARSHIPS TO ENABLE STUDENTS FROM RURAL AREAS TO ATTEND COLLEGE, TECHNICAL SCHOOL OR OTHER POST SECONDARY EDUCATION INSTITUTION. ANY AMOUNTS SO DEPOSITED INTO THE RURAL SCHOLARSHIP FUND ARE STILL PAYABLE TO PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. ALSO PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED AN ECONOMIC DEVELOPMENT FUND WITH RETIREMENTS OF PATRONAGE CAPITAL, WHICH HAVE REMAINED UNCLAIMED FOR A PERIOD OF THREE YEARS. THE AMOUNTS DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR THE STIMULATION AND IMPROVEMENT OF BUSINESS AND COMMERCIAL ACTIVITY FOR ECONOMIC DEVELOPMENT IN RURAL COMMUNITIES. ANY AMOUNTS SO DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE STILL PAYABLE TO PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. Description of Uncertain Tax Positions Under FIN 48: Part X: ON JANUARY 1, 2009, THE COOPERATIVE ADOPTED THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE, AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. Part XI, Line 8 - Other Adjustments: PATRONAGE CAPITAL RETIRED -3,542,957. NET INCREASE IN MEMBERSHIPS 14,115. Part XII, Line 2d - Other Adjustments: EXPENSES RECORDED IN NON-OPERATING MARGINS RECLASSED TO EXPENSES 17,453. Part XIII, Line 2d - Other Adjustments: EXPENSES RECORDED IN NON-OPERATING MARGINS RECLASSED TO EXPENSES 17,453. Part IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5 PERCENT OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY IN ACCORDANCE WITH IRS INSTRUCTIONS SCHEDULE D, PART IX HAS BEEN LEFT BLANK. 0 BOY SCOUTS OF AMERICA #775 PO BOX 2424 HARLINGEN TX 78551 741143104 501(C)(3) 7275 ALL GRANTS, SPONSORSHIPS AND DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA. ALL DONATIONS ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. 1 X X 0 0 0 JOHN W HERRERA 169810 0 6600 0 12173 0 70504 0 10681 0 269768 0 0 0 JOHN J CIZLER 112437 0 4325 0 12759 0 99738 0 8314 0 237573 0 0 0 ELLA DE LA ROSA 103373 0 4015 0 12633 0 79028 0 9244 0 208293 0 0 0 BRADLEY E BIERSTEDT 98759 0 3962 0 11822 0 32172 0 12475 0 159190 0 0 0 RICHARD L TRUSSELL 88039 0 3462 0 12057 0 50003 0 10062 0 163623 0 0 0 Supplemental Information Part III Part II, Column C INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. JOHN HERRERA ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 62,781 401(K) EMPLOYER MATCH 7,723 TOTAL COLUMN C: 70,504 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (62,781) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 40,262 TOTAL COOPERATIVE CASH CONTRIBUTION $ 47,985 JOHN J CIZLER ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 94,678 401(K) EMPLOYER MATCH 5,060 TOTAL COLUMN C: 99,738 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (94,678) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 26,659 TOTAL COOPERATIVE CASH CONTRIBUTION $ 31,719 ELLA DE LA ROSA ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 74,330 401(K) EMPLOYER MATCH 4,698 TOTAL COLUMN C: 79,028 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (74,330) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 24,510 TOTAL COOPERATIVE CASH CONTRIBUTION $ 29,208 BRADLEY E BIERSTEDT ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,536 401(K) EMPLOYER MATCH 4,636 TOTAL COLUMN C: 32,172 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (27,536) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 23,416 TOTAL COOPERATIVE CASH CONTRIBUTION $ 28,052 RICHARD L TRUSSELL ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 45,952 401(K) EMPLOYER MATCH 4,051 TOTAL COLUMN C: 50,003 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (45,952) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 20,874 TOTAL COOPERATIVE CASH CONTRIBUTION $ 24,925 Form 990, Part VI, Section A, line 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. Form 990, Part VI, Section A, line 7a THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. Form 990, Part VI, Section A, line 7b THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE. 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE. 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION. 3. THE DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS. Form 990, Part VI, Section A, line 8b EXECUTIVE SESSION FROM TIME TO TIME THE ENTIRE BOARD WILL GO INTO EXECUTIVE SESSION FOR DISCUSSING ITEMS OF A SENSITIVE AND CONFIDENTIAL NATURE. WHEN THIS OCCURS MANAGEMENT AND OTHERS IN ATTENDANCE ARE REMOVED FROM THE MEETING ROOM. ITEMS DISCUSSED IN EXECUTIVE SESSION ARE NOT DOCUMENTED. HOWEVER, ACTIONS TAKEN BY THE BOARD AFTER EXECUTIVE SESSIONS ARE ADJOURNED ARE FULLY DOCUMENTED IN THE WRITTEN MINUTES. Form 990, Part VI, Section B, line 11 MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING. THE DISCUSSION AND REVIEW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE FILING THE FORM 990. Form 990, Part VI, Section B, line 12c THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COOPERATIVE'S CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD OF DIRECTORS AS SOON AS POSSIBLE. THE CONFLICT OF INTEREST POLICY IS REVIEWED ON AN ANNUAL BASIS. Form 990, Part VI, Section B, line 15 THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS FROM COOPERATIVES LOCATED IN TEXAS AND THE NATION. THE BOARD AND THE GENERAL MANAGER USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILAR COOPERATIVES THROUGHOUT TEXAS AND THE NATION. Form 990, Part VI, Section C, line 19 THE COOPERATIVE PROVIDES A SUMMARIZED AUDITED FINANCIAL STATEMENT TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF THE AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, OR GOVERNING DOCUMENTS TO ANY MEMBER WHO REQUESTS A COPY. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: PATRONAGE CAPITAL RETIRED -3,542,957. NET INCREASE IN MEMBERSHIPS 14,115. Total to Form 990, Part XI, Line 5: -3,528,842. AUDIT COMMITTEE Form 990, Part XII, Line 2C THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND TO RECOMMEND TO THE BOARD AN INDEPENDENT CPA FIRM TO PERFORM THE AUDIT. TO PROVIDE DETAIL REGARDING OFFICER'S OTHER COMPENSATION Form 990, Part VII, Column F IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. AS PART OF THE PLAN DOCUMENT, THE COOPERATIVE PROVIDES A MATCHING CONTRIBUTION OF 4 1/2% OF A PARTICIPATING EMPLOYEE'S SALARY. ADDITIONALLY THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH AND LIFE INSURANCE TO ALL EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICER OR HIGHLY COMPENSATED EMPLOYEE IS COMPRISED OF THE ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN FOR THE OFFICER OR HIGHLY COMPENSATED EMPLOYEE, THE TOTAL AMOUNT CONTRIBUTED TO THE 401(K) PENSION PLAN AND THE INSURANCE PREMIUMS PAID FOR THE BENEFIT OF THE OFFICER OR HIGHLY COMPENSATED EMPLOYEE. PATRONAGE DIVIDENDS Form 990, Part VIII, Line 2 PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. ACCOUNTING SYSTEM Form 990, Part IX THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS AS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION FOR CLASS A AND B ELECTRIC UTILITIES MODIFIED FOR ELECTRIC BORROWERS OF THE RURAL UTILITIES SERVICE(RUS). THE UNIFORM SYSTEM OF ACCOUNTING DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1 - 23. THE COOPERATIVE WILL BREAK OUT SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1 - 23 WILL BE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE UNIFORM SYSTEM OF ACCOUNTS. RECONCILIATION OF WAGES PER RETURN TO FORM W-3 Form 990, Part IX, Lines 5-7 SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. IN AN EFFORT TO EXPLAIN WHY THE AMOUNTS REPORTED ON LINES 5-7 DO NOT AGREE TO THE W-3 THE FOLLOWING RECONCILIATION IS PROVIDED. TOTAL PER LINES 5-7 $6,730,051 LESS DIRECTORS FEES REPORTED ON 1099-MISC (132,618) PLUS SALARIES AND WAGES ALLOCATED TO ASSET ACCOUNTS 3,069,104 LESS EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (189,237) RECONCILIATION TO W-3 $9,477,300 BREAKDOWN OF EXPENSES INCLUDED IN ADMINISTRATIVE AND GENERAL Form 990, Part IX, Line 24 THE FOLLOWING IS A BREAKDOWN OF THE EXPENSES REPORTED AS ADMINISTRATIVE AND GENERAL EXPENSE ON FORM 990, PART IX, LINE 24. OFFICE SUPPLIES AND EXPENSE $1,707,255 OUTSIDE SERVICES EMPLOYED 246,639 INJURIES AND DAMAGES 385,993 PROPERTY INSURANCE 6,117 REGULATORY COMMISSION EXPENSE 296,809 DUES IN ASSOCIATED ORGANIZATIONS 12,290 ANNUAL AND DISTRICT MEETING EXPENSE 66,081 OUT OF TOWN BUSINESS MEETINGS 89,396 MAINTENANCE OF GENERAL PLANT 992,457 MISCELLANEOUS 31,372 TOTAL ADMINISTRATIVE AND GENERAL EXPENSE PER 990 $3,834,409 TO PROVIDE DETAIL REGARDING OTHER EXPENSES Form 990, Part IX, Line 24f THE FOLLOWING IS A BREAKDOWN OF THE EXPENSES REPORTED AS OTHER EXPENSES ON FORM 990, PART IX, LINE 24F: TRANSMISSION EXPENSE $ 61 SALES EXPENSE 102,117 TAXES - OTHER 3,841 TOTAL OTHER EXPENSES $ 106,019