2011-08-15T14:38:05-07:00 2010-12-31 990 2010-01-01 750384046 LAMAR COUNTY ELECTRIC COOPERATIVE ASSOCIATION LAMA 9037844303 PO Box 580 Paris TX 754610580 Jerry Williams 9037834914 2011-07-01 2010 2016-02-24 21:20:13Z LAMAR ELECTRIC COOPERATIVE Jerry D Williams PO Box 580 Paris TX 754610580 22302875 0 X www.lamarelectric.coop X 1938 TX LAMAR ELECTRIC COOPERATIVE PROVIDES QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 9 9 31 0 268 0 0 0 22019953 22211981 35639 39281 49224 40836 22104816 22292098 0 0 0 0 1675308 1992609 0 0 0 18789404 18532188 20464712 20524797 1640104 1767301 43338725 44875750 25928504 25858543 17410221 19017207 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 ENDEAVERS. 0 0 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 11,731 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASES THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. 0 0 0 0 0 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 48 0 1 31 1 0 0 0 0 0 23145441 319819 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 1 0 X X JERRY WILLIAMS 9037844303 1485 N MAIN STREET PO BOX 580 PARIS TX 754610580 X ALLEN BRANCH 2.71 X X 3700 0 0 CHARLES DOOLEY 1.23 X X 2400 0 0 BILLY R HINES 1.25 X X 2400 0 0 MICHAEL WILLIAMS 1.0 X 2200 0 0 MARK JONES 1.15 X 2400 0 0 GEORGE M WOOD 1.23 X 2400 0 0 RON E TIPPIT 1.48 X 2400 0 0 JAMES SAM COOPER 2.16 X 2400 0 0 LYLE D YODER 1.10 X 2200 0 0 JERRY D WILLIAMS 40 X 134544 0 43781 157044 0 43781 1 0 1 0 TREES INC 1700 SOLUTIONS CENTER CHICAGO IL 606771077 RIGHT-OF-WAY CLEARING 278964 NISC PO BOX 1147 MANDAN ND 58554 INFORMATION SYSTEMS 190393 C H GUERNSEY & COMPANY PO BOX 960012 OKLAHOMA CITY OK 731960017 ENGINEERING 164252 WHITMIRE LINE CLEARANCE INC 8171 HWY 377 S PILOT POINT TX 76258 RIGHT-OF-WAY CLEARING 113166 SEI CONSULTING ENGINEERS 2400 SCOTT AVE FT WORTH TX 76103 ENGINEERING 107814 5 0 ELECTRIC ENERGY SALES 221000 21753835 21753835 0 0 PATRONAGE DIVIDENDS 221000 224234 224234 0 0 SERVICE CHARGES 221000 133880 133880 0 0 ELECTRIC WHEELING 221000 100032 100032 0 0 0 0 0 0 22211981 42554 0 0 42554 0 0 0 0 0 0 0 0 0 26482 0 0 0 26482 26482 0 0 26482 0 7504 0 10777 0 -3273 -3273 0 0 -3273 14354 0 14354 5 268 14081 0 22292098 22211986 268 79844 157044 1152193 233610 345289 104473 1087135 1741612 PURCHASED POWER 13315081 DISTRIBUTION EXPENSE 1373068 ADMIN & GENERAL EXPENSE 628607 TAXES - OTHER 144155 CUSTOMER ACCOUNTS EXPENSE 242530 20524797 0 0 0 1676496 2308929 2402950 1986880 1750437 214210 205426 157048 197436 53558367 18121859 36834815 35436508 0 2461986 2566295 7290 7769 43338725 44875750 1481392 1531816 658500 502675 19584241 18117294 4204371 5706758 25928504 25858543 X 196353 197048 0 0 17213868 18820159 17410221 19017207 43338725 44875750 X 1767301 -160315 X 0 1 0 X 0 410771 0 410771 534825 0 397176 137649 0 0 0 0 54196957 0 17724683 36472274 -1584186 0 0 -1584186 35436508 PATRONAGE CAPITAL - CFC 495824 C PATRONAGE CAPITAL - RAYBURN COUNTRY 1020001 C PATRONAGE CAPITAL - TEXAS ELECTRIC 208607 C PATRONAGE CAPITAL - NATIONAL INFO 48053 C CAPITAL TERM CERTIFICATES - CFC 748709 C OTHER PATRONAGE CAPITAL AND INVESTMENTS 10101 C INVESTMENT - CFC MEMBER CAPITAL SECURITIES 25000 C INVESTMENT - COOPERATIVE RESPONSE CENTER 10000 C 2566295 ACCRUED COMPENSATED ABSENCES 247864 POWER COST OVERBILLED 1223371 POST-RETIREMENT BENEFIT OBLIGATION 3580872 CONSUMER DEPOSITS 263340 OTHER ACCRUED EXPENSES 391311 5706758 22292098 20524797 1767301 0 0 0 0 0 0 1767301 22292045 0 0 0 -53 -53 22292098 0 0 0 22292098 20524743 0 0 0 -54 -54 20524797 0 0 0 20524797 SchD_P10_S00_L00 Schedule D, Part X THE COOPERATIVE IS EXEMPT UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE FROM FEDERAL INCOME TAX FOR ANY YEAR IN WHICH AT LEAST 85% OF ITS GROSS INCOME IS DERIVED FROM MEMBERS BUT IS RESPONSIBLE FOR INCOME TAXES ON CERTAIN UNRELATED BUSINESS INCOME. SchD_P10_S00_L02 Schedule D, Part X, Line 2 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 THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS), OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. THE COOPERATIVE FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. THE COOPERATIVE IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE INCOME TAX EXAMINATIONS BY FEDERAL TAXING AUTHORITIES FOR YEARS BEFORE 2007. THE COOPERATIVE RECOGNIZES INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THERE WERE NO PENALTIES OR INTEREST RECOGNIZED DURING THE YEARS ENDING DECEMBER 31, 2010 AND 2009. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d DISCOUNT ON SALES TAX REPORTED AS REVENUE ON FINANCIAL STATEMENTS SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d 54 DISCOUNT ON SALES TAX REPORTED AS REVENUE ON FINANCIAL STATEMENTS X X 0 0 0 JERRY D WILLIAMS 134544 0 0 0 0 0 27116 0 16665 0 178325 0 0 0 SchJ_P01_S00_L03 Schedule J, Part I, Line 3 THE BOARD OF DIRECTORS USES 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 COOPERATIVE OBTAINS AN UPDATED SURVEY EACH YEAR. F990_P06_S0A_L06 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. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE HELD ON A ONE MEMBER ONE VOTE BASIS. F990_P06_S0A_L07b 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. F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR REVIEW PRIOR TO FILING. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c OFFICERS, DIRECTORS AND ALL COOPERATIVE EMPLOYEES ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE COOPERATIVE'S POLICIES RELATED TO CONFLICT OF INTEREST. OFFICERS, DIRECTORS AND ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THEIR SUPERVISOR, THE GENERAL MANAGER OR THE FULL BOARD OF DIRECTORS AS SOON AS POSSIBLE. ADDITIONALLY, THE OFFICERS AND DIRECTORS REVIEW ANNUALLY THEIR DUTIES AND STANDARDS OF CONDUCT (INCLUDING CONFLICT OF INTEREST) IN THE PRESENCE OF THE COOPERATIVE'S LEGAL COUNCIL AND DISCUSS ANY PERSONAL LIABILITY IMPLICATIONS RESULTING FROM VIOLATIONS. F990_P06_S0B_L14 Form 990, Part VI, Section B, Line 14 THE COOPERATIVE DOES NOT HAVE A FORMAL, WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY IN PLACE, BUT IT DOES FOLLOW A SET OF GUIDELINES REGARDING DOCUMENT RETENTION AND DESTRUCTION. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 THE BOARD OF DIRECTORS USES 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 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. THE COOPERATIVE OBTAINS AN UPDATED SURVEY EACH YEAR. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE AUDITED FINANCIAL STATEMENTS 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. F990_P07_S0A_L01a Form 990, Part VII, Section A, Line 1a GENERAL MANAGER RESPONSIBILITIES - THE BOARD OF DIRECTORS CONSIDERS THE GENERAL MANAGER TO BE BOTH THE TOP MANAGEMENT OFFICIAL AND THE TOP FINANCIAL OFFICIAL; THEREFORE, ONLY THE GENERAL MANAGER IS LISTED AS AN EMPLOYEE OFFICER. COLUMN F - ESTIMATED OTHER COMPENSATION FROM THE ORGANIZATION - 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 UP TO 3% 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, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH AND LIFE INSURANCE TO ALL EMPLOYEES, INCLUDING OFFICERS, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICER IS COMPRISED OF THE ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN FOR THE OFFICER, THE TOTAL AMOUNT CONTRIBUTED TO THE 401(K) PENSION PLAN, AND THE INSURANCE PREMIUMS PAID FOR THE BENEFIT OF THE OFFICER. IN ADDITION TO THE ABOVE PENSION PLANS, THE COOPERATIVE ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. F990_P08_S00_L02a Form 990, Part VIII, Line 2a - 2e PATRONAGE DIVIDENDS - PARTONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION AND 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 THE COST OF THE ELECTRIC SERVICE PROVIDED BY THE ORGANIZATION TO ITS MEMBERS. F990_P09_S00_L01 Form 990, Part IX, Line 1 ACCOUNTING SYSTEM - 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 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION (CFC). THE UNIFORM SYSTEM OF ACCOUNTING DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-13. 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. F990_P09_S00_L07 Form 990, Part IX, Line 7 RECONCILIATION OF WAGES PER RETURN TO FORM W-3 - 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 WITH THE W-3, THE FOLLOWING RECONCILIATION IS PROVIDED: TOTAL PER LINES 5-7 OF $1,309,237, LESS DIRECTORS FEES REPORTED ON 1099-MISC OF $22,500, PLUS BENEFITS ON PART VII $43,781, PLUS SALARIES AND WAGES ALLOCATED TO ASSET ACCOUNTS OF $305,836, LESS PRETAX BENEFITS OF $50,502, PLUS TAXABLE BENEFITS OF $3,589 EQUALS $1,589,440 FROM FORM W-3, BOX 5. F990_P09_S00_L24a Form 990, Part IX, Line 24a - 24e BREAKDOWN OF EXPENSES INCLUDED IN ADMINISTRATIVE AND GENERAL - THE FOLLOWING IS A BREAKDOWN OF THE EXPENSES REPORTED AS ADMINISTRATIVE AND GENERAL EXPENSE ON FORM 990, PART IX, LINE 24C: OFFICE SUPPLIES AN EXPENSE OF $124,976, OUTSIDE SERVICES EMPLOYEED OF $141,085, DIRECTORS EXPENSES OF $25,787, ASSOCIATED DUES OF $47,205, UTILITY COMMISSION RELATED EXPENSES OF $37,418, MAINTENANCE OF GENERAL PLANT OF $106,225, MISCELLANEOUS GENERAL EXPENSE OF $145,910 = $628,607 TOTAL ADMINISTRATIVE AND GENERAL EXPENSE PER FORM 990. F990_P11_S00_L05 Form 990, Part XI, Line 5 695 INCREASE IN MEMBERSHIPS, (161,000) OTHER COMPREHENSIVE INCOME/PROVISION FOR PENSION AND BENEFITS, (10) UNCLAIMED PROPERTY ADJUSTMENT