2023-09-25T06:03:16-05:00 2022-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2022-01-01 411955109 CENTRAL ELECTRIC COOPERATIVE INC CENT 6059967516 PO BOX 850 MITCHELL SD 57301 KEN SCHLIMGEN GENERAL MANAGER 6059967516 2023-09-19 1 KEN SCHLIMGEN XXX-XX-XXXX 1 LAURIE HANSON CPA P00851848 6053391999 2023-09-19 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z KEN SCHLIMGEN PO BOX 850 MITCHELL SD 57301 38316392 0 X WWW.CENTRALEC.COOP X 2000 SD PROVIDING RELIABLE ENERGY AND SERVICES AT A GOOD VALUE. 9 9 48 0 34249 5899 850135 0 36720659 36077138 82219 10824 26034 123006 37679047 36210968 25084 25674 3391500 3478054 5032893 5341302 0 0 0 29229570 27365938 37679047 36210968 0 0 99096217 109967351 53455460 62159975 45640757 47807376 PROVIDING ENERGY AND SERVICES WITH A COMMITMENT TO SAFETY AND MEMBER SATISFACTION. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 4,976 COOPERATIVE MEMBERS COVERING OVER 4,480 MILES. 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 1 109 0 1 48 1 1 1 0 0 0 0 36214489 1145607 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X DEAN UHER 6059967516 25487 403RD AVE PO BOX 850 MITCHELL SD 57301 X DONITA LOUDNER DIRECTOR 9.00 X 17066 0 0 MARK REINDL TREASURER 6.00 X X 15416 0 0 BERNETTA BURGHARDT DIRECTOR (ENDED 9/2022) 4.00 X 8758 0 0 DUANE WOLBRINK PRESIDENT 8.00 X X 15716 0 0 ROGER CAMPBELL DIRECTOR 6.00 X 14591 0 0 TODD VAN WALLEGHEN VICE PRESIDENT 8.00 X X 15691 0 0 MARK HOFER SECRETARY 9.00 X X 15966 0 0 JEFF GUSTAFSON DIRECTOR 9.00 X 16791 0 0 MERLE BECHEN DIRECTOR 8.00 X 19816 0 0 BOB BANKS DIRECTOR (BEGAN 09/2022) 5.00 X 4179 0 0 KEN SCHLIMGEN GENERAL MANAGER 40.00 X 192342 0 8551 DEAN UHER MGR OF FINANCE & ADMIN 42.00 X 100328 0 69785 BRIAN BULTJE MANAGER OF OPERATIONS 41.00 X 141955 0 8510 JESSE BAKER AREA FOREMAN 43.00 X 123172 0 52066 DUSTIN ROSKENS LINE SUPERINTENDENT 40.00 X 124039 0 78192 PATRICK SOUKUP MANAGER OF MEMBER SERVICES 42.00 X 121612 0 34692 TIM NEISES AREA FOREMAN 43.00 X 122121 0 8790 1069559 0 260586 15 0 1 0 DAVE'S CONSTRUCTION INC 5104 N HAVESTORE RD SIOUX FALLS SD 87107 BACKHOEING 594313 LARSON DIGGING INC 601 LINCOLN AVE NW HURON SD 57350 PLOWING, BACKHOEING & BORING 300770 SBS INSPECTIONS 404 NORTH 4TH ST OLATHE KS 81425 POLE INSPECTION & TREATMENT 188768 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE RD PAYNESVILLE MN 56362 WORK ORDER CONSTRUCTION 121705 ERICKSON TREE SERVICE PO BOX 1282 MITCHELL SD 57301 TREE TRIMMING 114596 5 SALE OF POWER 221000 33382524 33382524 CAPITAL CREDITS 221000 2694614 2694614 36077138 55802 55802 1350 0 1350 1350 1350 30324 75302 -44978 -44978 -44978 2151778 2030122 121656 87407 34249 36210968 36164545 34249 12174 X 25674 3478054 507308 3916123 595564 322307 1471739 2609645 COST OF POWER 21955343 DISTRIBUTION-MAINTENANC 2118436 ADMIN & GENERAL 1708382 DISTRIBUTION-OPERATIONS 1189219 -3686826 36210968 2449126 2980296 3279117 3096395 936949 820810 2617896 4420733 520769 1377488 101888118 28742920 68233249 73145198 2623 2622 20899888 22917209 156600 1206600 99096217 109967351 3783991 3687328 49067145 56522345 604324 1950302 53455460 62159975 X 0 0 0 0 45640757 47807376 45640757 47807376 99096217 109967351 X 0 2166619 X 0 1 X 1 0 21402 21402 8698345 2813537 5884808 93044285 25929383 67114902 124086 124086 73145198 PATRONAGE CAPITAL 21083050 C MEMBERSHIPS AND OTHER 223016 C FEDERATED RURAL ELECTRIC INSURANCE CORPORATION 249011 C CFC CAPITAL TERM CERTIFICATES 625901 C RURAL ELECTRIC ECONOMIC DEVELOPMENT 74120 C NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 342575 C COBANK 319536 C 22917209 DEFERRED CREDITS 1732901 CUSTOMER DEPOSITS 136692 POSTRETIREMENT BENEFITS 80709 1950302 X 36210968 0 36210968 0 36210968 32732914 0 32732914 3478054 3478054 36210968 PART X, LINE 2: THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO THE UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: CAPITAL CREDITS ALLOCATED IN 2023 FOR 2022 3,478,054. X 0 0 0 DUSTIN ROSKENS LINE SUPERINTENDENT 124039 0 0 0 0 0 77173 0 2651 0 203863 0 0 0 KEN SCHLIMGEN GENERAL MANAGER 192342 0 0 0 0 0 7006 0 3859 0 203207 0 0 0 JESSE BAKER AREA FOREMAN 123172 0 0 0 0 0 49318 0 4263 0 176753 0 0 0 DEAN UHER MGR OF FINANCE & ADMIN 100328 0 0 0 0 0 30209 0 41352 0 171889 0 0 0 PATRICK SOUKUP MANAGER OF MEMBER SERVICES 121612 0 0 0 0 0 29992 0 6355 0 157959 0 0 0 BRIAN BULTJE MANAGER OF OPERATIONS 141955 0 0 0 0 0 5684 0 4659 0 152298 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS BY DISTRICT. FORM 990, PART VI, SECTION A, LINE 7B MEMBER APPROVAL IS REQUIRED FOR BYLAW CHANGES OR THE SALE OF 10% OR MORE OF THE COOPERATIVE'S PROPERTY. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED WITH THE FULL GOVERNING BOARD AT A BOARD OF DIRECTORS MEETING PRIOR TO FILING THE 990. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND EMPLOYEES OF THE COOPERATIVE ARE COVERED BY THE CONFLICT OF INTEREST POLICY. THE OFFICERS AND DIRECTORS ANNUALLY DISCLOSE THE INTERESTS THAT COULD RESULT IN CONFLICTS. ANY KNOWN CONFLICTS ARE REVIEWED AT A BOARD OF DIRECTORS MEETING. THE GENERAL MANAGER AND BOARD PRESIDENT SHALL ENSURE THE ENFORCEMENT OF THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE GENERAL MANAGER INCLUDES REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND USE OF COMPARABILITY DATA. THE MINUTES INCLUDE THE FINAL DECISION FOR COMPENSATION OF THE GENERAL MANAGER. ALL OTHER EMPLOYEES, INCLUDING THE MANAGER OF FINANCE AND ADMINISTRATION, GO THROUGH AN ANNUAL PERFORMANCE REVIEW. THE GENERAL MANAGER REVIEWS AND APPROVES COMPENSATION FOR ALL EMPLOYEES. THE OVERALL WAGE AND SALARY PLAN IS APPROVED BY THE BOARD. THE PROCESS WAS LAST UNDERTAKEN IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS PROVIDED TO THE COOPERATIVE'S MEMBERS VIA A NEW MEMBER PACKET OR IN THE ANNUAL REPORT. FORM 990, PART VII, COLUMN (F) PER THE INSTRUCTIONS TO FORM 990, THE AMOUNT REPORTED IN PART VII COLUMN (F) INCLUDES THE ACTUARIAL VALUE OF THE RETIREMENT PLAN, NOT THE AMOUNT PAID BY THE COOPERATIVE. FORM 990, PART IX, LINE 24E, STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 6-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART IX, LINE 4 THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BYLAWS OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -1,311,435. CAPITAL CREDITS ALLOCATED 3,478,054.