2011-04-28T08:44:02-05:00 2010-12-31 EIDE BAILLY LLP 4310 17TH AVE S PO BOX 2545 FARGO ND 581082545 990 2010-01-01 450216732 MOUNTRAIL-WILLIAMS ELECTRIC COOPERATIVE MOUN 7015773765 PO BOX 1346 WILLISTON ND 588021346 Dale Haugen 7015773765 2011-04-27 1 LISA CHAFFEE CPA 7012398500 2011-04-27 2010 2016-02-24 21:20:13Z Dale Haugen PO BOX 1346 WILLISTON ND 588021346 42191349 0 X WWW.MWEC.COM X 1944 ND Meet the changing needs of members, provide excellent electric service & improve the community. 9 9 78 0 0 0 0 0 32201494 41930034 21755 93171 38832 23074 32262081 42046279 0 0 0 0 4737330 5322590 0 0 0 22519909 30724897 27257239 36047487 5004842 5998792 95765844 118901761 73576574 90911625 22189270 27990136 X Mountrail-Williams Electric Cooperative is a member-owned cooperative that exists to meet the changing needs of its membership, to provide them with personal, excellent service and to keep them fully informed about their cooperative. Our mission includes playing a leadership role in the community and contributing to improving the quality of life in our service area. We seek to accomplish these purposes by providing professional and personal development opportunities for employees and directors. Further, we seek to meet our responsibilities through prudent management and with rates that are fair and equitable. 0 0 Provided electric service to approximately 5,100 members servicing 10,012 meters. Added/replaced 3,785 miles of line. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 19 0 1 78 1 0 0 0 0 0 40505232 866197 0 X 9 9 0 0 1 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X Jay Lux 7015773765 Po Box 1346 Williston ND 588021346 X Roger Sorenson 4.00 X X 12553 0 0 Robert Grant 6.10 X X 12505 0 0 Dorvan Solberg 4.00 X X 10018 0 0 Monty SchenfischJan-Jun 2.50 X 2653 0 0 Warren Bratvold 3.70 X 10972 0 0 Cheryl Hartsoch 3.60 X 9279 0 0 Blaine Jorgenson 3.30 X 10173 0 0 Ervin Opsal 1.70 X 5055 0 0 Larry Johnson 4.30 X 9596 0 0 Aaron LynneJun-Dec 4.20 X 7522 0 0 Dale Haugen 50.00 X 127257 0 118374 Jay Lux 43.00 X 90189 0 48707 307772 0 167081 1 0 1 0 Govert Powerline Services LLC PO Box 98 Reva SD 57651 Powerline Construction 6205976 Brink Constructors Inc 2950 North Plaza Drive Rapid City SD 57709 Powerline Construction 3741365 HDR Engineering Inc PO Box 3480 Omaha NE 68103 Engineering 2729349 Aevenia Energy 3030 24th Avenue South Moorhead MN 56560 Powerline Construction 1953760 Higher Power LLC 421 4th Ave SE Stanley ND 58784 Powerline Construction 1502542 8 Electric Revenues 221000 40584956 40584956 Capital Credits 221000 1345078 1345078 41930034 93171 93171 168144 145070 23074 23074 42046279 41953108 0 93171 423069 3589239 1020339 289943 2648895 4597880 Cost of power 21152473 Distribution costs 4649108 Administrative & Genera 2095343 Customer, sales & servi 903787 Allocated costs -5322589 36047487 181551 147125 6310969 8983028 4212243 4757328 155769 211818 129263861 35380491 75058086 93883370 61456 74049 605500 12962 9169770 10821581 10500 10500 95765844 118901761 4041377 6433649 16153857 16029492 6888 48990397 64359761 4390943 4081835 73576574 90911625 X 6364193 6489284 0 0 15825077 21500852 22189270 27990136 95765844 118901761 X 5998792 -197926 X 0 1 1 X 0 0 1 323014 323014 11097137 5124861 5972276 84440276 30255630 54184646 33403434 33403434 93883370 Patronage Capital 8570123 C RESC Stock 5200 C NRUFC Certificates 712245 C Memberships 3975 C Member Loans Receivable 143262 C CO Bank Stock 5455 C Economic Development Revolving Loan Pool 227508 C Promissory Note 600000 C Diamond Dairy Inc 553813 C 10821581 Deferred Compensation 71979 Post Retirement Obligation 211149 Reserves For Plant and Power Improvement 3798707 4081835 42046279 36047487 5998792 -197926 -197926 5800866 42046279 0 42046279 0 42046279 36047487 0 36047487 0 36047487 Description of Intended Use of Endowment Funds: Part V, Line 4: The Cooperative collects funds for the Operation Round Up program for the Mountrail Cooperative Trust and the Williams Cooperative Trust from the members. These funds are recorded as a liability on the Cooperative financials until they are released to the Trust on a quarterly basis. Mountrail Cooperative Trust receives 45% of the funds, while Williams Cooperative Trust receives 55% of the funds. The amount in the financial statements at December 31, 2010 was $6,888. Description of Uncertain Tax Positions Under FIN 48: Part X: The Cooperative is exempt from income taxes under Section 501 (c) (12) of the Internal Revenue Code. The Cooperative has adopted the provisions of FASB Accounting Standards Codification Topic ASC 740-10 (previously Financial Interpretation No. 48, Accounting for Uncertainty in Income Taxes), effective January 1, 2009. Implementation resulted in no cumulative effect adjustment to retained earnings as of the date of adoption. The Cooperative had no unrecognized tax benefits as of December 31, 2010 and 2009. The Cooperative will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if such penalties and interest are incurred. Under normal circumstances, the Cooperative is no longer subject to Federal tax examinations by tax authorities for years before 2006 and state examinations for years before 2006. The Cooperative undergoes an annual analysis of its various tax positions, assessing the likelihood of those positions being upheld upon examination with relevant tax authorities, as defined by ASC 740-10. Part XI, Line 8 - Other Adjustments: Retirement of Capital Credits -197,926. X X 0 0 0 Dale Haugen 124548 0 1000 0 1709 0 106616 0 13487 0 247360 0 0 0 Supplemental Information Part III Schedule J,Part II, Column C, Deferred Compensation: Included in deferred compensation is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Dale Haugen is $101,585. This amount is an estimate in the increase of the value of the plan and is not a current year expense of the cooperative. The current year expense for this defined benefit plan was $44,391. Form 990, Part VI, Section A, line 4 The Bylaws were amended to give the Board of Directors the authority to retire Cooperative capital retirement credits and G&T credits separately. Form 990, Part VI, Section A, line 6 The cooperative has one class of members. Each member has one vote. A household is considered to be one member. Form 990, Part VI, Section A, line 7a The members of the cooperative elect the Board of Directors. Each member has one vote. Form 990, Part VI, Section A, line 7b Changes in the cooperative's bylaws must be approved by the members, as well as increase in debt limits and a sale of a high percentage of the cooperative's assets. Form 990, Part VI, Section A, line 8b There are no committees with the authority to act on behalf of the full Board of Directors. Form 990, Part VI, Section B, line 11 The Business Manager and General Manager will review a draft. The approved 990 will be presented at the April 2011 board meeting. Form 990, Part VI, Section B, line 12c Directors of Mountrail-Williams Electric Cooperative are expected to disclose a situation which, in their opinion, is or could appear to be a conflict of interest. After such a disclosure, the director must leave the meeting when issues involving the conflict of interest are discussed. The director is not allowed to vote on issues regarding the conflict of interest. Form 990, Part VI, Section B, line 15 The board performed an evaluation of the General Manager. They compared his compensation with the state wide salary survey as a guide to the compensation amount. The board votes on the compensation. For the general manager this is an annual occurance. The board voted in 2010 on his 2011 compensation. This process last took place in October of 2010. The board negotiates with the union on regards to staff increases. The Business Manager receives the same salary increase percentage as approved in the union contract for the staff. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy and financial statements available upon request. All new members receive a copy of the bylaws upon becoming a member. A financial report is distributed at the members' annual meeting. Other Compensation Form 990, Part VII Included in column "f", estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Dale Haugen is $101,585 and for Jay Lux is $30,293. These amounts are estimates in the increase of the value of the plan and are not current year expenses of the cooperative. The current year expense for this defined benefit plan was $44,391 and $32,676, respectively. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Retirement of Capital Credits -197,926. Total to Form 990, Part XI, Line 5: -197,926. Allocated Costs Form 990, Part IX, Line 24e The labor, pension and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction on line 24f in the amount of $(5,322,589). Mountrail Cooperative Trust Inc PO Box 1346 Williston ND 58802 911796235 Community Support ND 501(c)(3) 7 Mountrail-Williams Electric Cooperative 1 Williams Cooperative Trust Inc PO Box 1346 Williston ND 58802 911796201 Community Support ND 501(c)(3) 7 Mountrail-Williams Electric Cooperative 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 Mountrail Cooperative Trust Inc Q Williams Cooperative Trust Inc Q Mountrail Cooperative Trust Inc K Williams Cooperative Trust Inc K