2023-10-27T11:02:35-05:00 2022-12-31 FORVIS LLP 1401 50th Street Suite 350 West Des Moines IA 502665935 990 2022-01-01 420625814 CHARITON VALLEY ELECTRIC COOPERATIVE % TRUDY GRADE CHAR 6419327126 2090 HIGHWAY 5 SOUTH ALBIA IA 52531 MICHAEL MILLER BOARD PRESIDENT 6419327126 2023-11-15 true MICHAEL MILLER 999009999 Joe R Lynn P01270416 5152230159 2 2022 2023-04-26 12:10:37Z Troy Amoss 2090 HIGHWAY 5 SOUTH ALBIA IA 52531 13152940 false X WWW.CVREC.COM X 1945 IA TO PROVIDE PUBLIC UTILITY TO ITS MEMBERS. 9 9 25 0 0 0 0 12277069 12940243 34960 159409 32044 35454 12344073 13135106 23879 19662 534195 669889 2196607 2368567 0 0 0 9048249 9944030 11802930 13002148 541143 132958 43573528 43233896 28879538 28042097 14693990 15191799 TO PROVIDE PUBLIC UTILITY TO ITS MEMBERS. false false PROVIDING ELECTRIC SERVICE TO ITS MEMBERS false false false false false false false false false true true false false true false false true false false false false false false false false false false false true false false false false false false false false false false false true true false false true 33 0 true 25 true false false false false false 12775932 339999 false false false X 9 9 false false false false true true true true true false false true true true true true true true true false IA X X TRUDY GRADE 6419327126 2090 HGHWY 5 SOUTH ALBIA IA 52531 X LEILANI TODD GENERAL MANAGER 40.0 0.0 X 176021 0 57195 TRUDY GRADE FINANCE MANAGER 40.0 0.0 X 116896 0 42547 TROY AMOSS OPERATIONS MANAGER 40.0 0.0 X 101984 0 42680 KILE OVERMEYER LINEMAN 43.0 0.0 X 108246 0 35944 JARED SHAW LINE FOREMAN 42.0 0.0 X 107807 0 34759 KYLE KIRCHNER LINEMAN 42.0 0.0 X 103052 0 34626 TIM SCOTT LINEMAN 41.0 0.0 X 98698 0 35941 NORM MAJOR SECRETARY 10.0 0.0 X 8000 0 0 RICHARD WELSH DIRECTOR 5.0 0.0 X 7750 0 0 KENNETH VANDENBERG DIRECTOR 5.0 0.0 X 7125 0 0 MARCHELLE BROWN TREASURER 3.0 0.0 X 6250 0 0 RANDY GOTTSCHALK VICE PRESIDENT 4.0 0.0 X 5750 0 0 JOHN HOUSER DIRECTOR 4.0 0.0 X 5500 0 0 WESLEY GREEN DIRECTOR 4.0 0.0 X 4750 0 0 MICHAEL MILLER PRESIDENT 3.0 0.0 X 4500 0 0 JERRY DURIAN DIRECTOR 3.0 0.0 X 3500 0 0 865829 0 283692 11 false true false HIGHLINE CONSTRUCTION INC 16124 OLD LAKE RD PAYNESVILLE IA 56362 SYSTEM IMPROVEMENTS 145522 CR ENVIRONMENTAL INC 1847 100TH ST CORYDON IA 50060 VEGETATION MANAGEMEN 558417 2 0 ELECTRIC SERVICE 221000 12726878 12726878 CAPITAL CREDITS 221000 213365 213365 12940243 48129 48129 0 0 36710 3605 33105 0 33105 33105 111280 111280 111280 111280 0 0 0 0 0 0 16278 14229 2049 2049 All Other Misc Revenue 300 300 300 13135106 12942292 192814 19662 0 0 669889 1149521 0 684653 135820 247425 151148 0 22182 114134 18473 0 0 31377 28355 141942 127439 0 0 0 0 47508 611658 0 971836 28764 COST OF PURCHASED POWER 6151907 REPAIRS & MAINTENANCE 755590 OPERATING EXPENSES 404013 CUSTOMER ACCOUNTS 188911 299941 13002148 375069 634576 1329989 201053 0 0 815050 1295933 0 0 0 0 7594128 6694929 505968 635094 61498 65076 39042987 11012797 27090869 28030190 0 0 5514925 5503954 0 0 0 0 286032 173091 43573528 43233896 1420408 1557175 0 0 275659 99443 0 0 0 0 0 0 27040937 26246386 0 0 142534 139093 28879538 28042097 X 0 0 0 0 14693990 15191799 14693990 15191799 43573528 43233896 X 132958 -7437 372288 X false true X true false 7596 7596 35254474 8867736 26386738 3726500 2126703 1599797 54418 18359 36059 28030190 Patronage Capital Allocations 5157219 C Capital Term Certificates 318545 F Associated organizations 28190 C 5503954 0 CONSUMER DEPOSITS 139093 139093 SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. X X false false false LEILANI TODD GENERAL MANAGER 176021 0 0 0 0 0 31403 0 25792 0 233216 0 TRUDY GRADE FINANCE MANAGER 116896 0 0 0 0 0 21153 0 21394 0 159443 0 FORM 990, PART VI, SECTION A, LINE 6 CVEC'S ARTICLES OF INCORPORATION, ARTICLE VII OUTLINES MEMBERSHIP IN THE COOPERATIVE. MEMBERS AGREE TO PURCHASE ELECTRIC ENERGY AND COMPLY WITH THE ARTICLES AND BYLAWS OF THE COOPERATIVE. A MEMBERSHIP CERTIFICATE IS ISSUED UPON BOARD APPROVAL TO EACH NEW MEMBER OR TO JOINT MEMBERS. THERE IS CURRENTLY NO MEMBERSHIP FEE. FORM 990, PART VI, SECTION A, LINE 7A CVEC'S 9 MEMBER BOARD OF DIRECTORS IS DIVIDED INTO 5 DISTRICTS. MEMBERS VOTE FOR ELIGIBLE CANDIDATES BY MAIL-IN BALLOT. FORM 990, PART VI, SECTION A, LINE 7B THE COOPERATIVE MAY NOT SELL, MORTGAGE, LEASE, OTHERWISE DISPOSE OF OR ENCUMBER ALL OR ANY SUBSTANTIAL PORTION OF PROPERTY UNLESS AUTHORIZED AT A MEETING OF MEMBERS THEROF BY THE AFFIRMATIVE VOTE OF NOT LESS THAN TWO-THIRDS OF ALL THE MEMBERS OF THE COOPERATIVE. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTING FIRM PREPARES AND REVIEWS THE 990. THE 990 IS THEN REVIEWED BY MANAGEMENT. ANY QUESTIONS OR CONCERNS MANAGEMENT HAS ARE ADDRESSED AND CORRECTIONS OR CLARIFICATIONS ARE MADE. THE FINAL 990 WITH ALL REQUIRED SCHEDULES IS THEN PROVIDED TO ALL VOTING MEMBERS OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, AND OTHERWISE UPON THE SEATING OF ANY NEW BOARD MEMBER OR HIRING OF ANY NEW EMPLOYEE, A DISCLOSURE OF CONFLICT OF INTEREST STATEMENT WILL BE SIGNED BY EACH DIRECTOR OR EMPLOYEE. IT WILL BE THE RESPONSIBILITY OF THE BOARD PRESIDENT TO ADDRESS ANY CONFLICTS OF INTEREST AND TAKE APPROPRIATE ACTION IF ANY DIRECTOR OF THE COOPERATIVE HAS BEEN DEEMED NOT ADHEARING TO THIS POLICY. IT WILL BE THE RESPONSIBILITY OF THE GENERAL MANAGER TO ADDRESS ANY CONFLICTS OF INTEREST AND TAKE APPROPRIATE ACTION IF ANY EMPLOYEE OF THE COOPERATIVE HAS BEEN DEEMED NOT ADHERING TO THIS POLICY. A DIRECTOR OR EMPLOYEE SHALL REMOVE HIMSELF OR ORGANIZATION WITH WHICH THE DIRECTOR OR EMPLOYEE IS AFFILIATED OR HAS A FINANCIAL INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE GENERAL MANAGER REQUESTED SALARY COMPARABILITY DATA FROM NRECA. THE GENERAL MANAGER AND H/R COORDINATOR DISCUSSED SALARY CONSIDERATIONS AND AUTHORIZED THE ANNUAL SALARIES. FORM 990, PART VI, SECTION B, LINE 15B THE BOARD PRESIDENT REQUESTED SALARY COMPARABILITY DATA FROM NRECA. THE FULL BOARD OF DIRECTORS CONDUCTED A PERFORMANCE REVIEW, DISCUSSED SALARY CONSIDERATIONS AND AUTHORIZED THE ANNUAL SALARIES. FORM 990, PART VI, SECTION C, LINE 19 CVEC'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS PROVIDED ANNUALLY TO DIRECTORS AND EMPLOYEES. FINANCIAL STATEMENTS ARE AVAILABLE UPON MEMBER REQUEST, ARE INCORPORATED INTO THE ANNUAL REPORT AND ARE MADE AVAILABLE TO EACH VOTING MEMBER PRIOR TO THE ANNUAL MEETING. FORM 990, PART XI, LINE 9 PATRONAGE CREDITS ALLOCATED TO MEMBERS $ 669,889 PATRONAGE CREDITS RETIRED (296,681) OTHER CHANGES IN PATRONAGE CAPITAL (714) EQUITY EARNINGS IN SUBSIDIARY (292) EQUITY EARNINGS A PRIME LLC 86 ----------- TOTAL $ 372,288 CHARITON VALLEY SERVICES COMPANY 2090 HWY 5 SOUTH ALBIA IA 52531 421509588 INVESTMENT IA CVEC C-CORP 8 16613 1.00000 true false false false false false false false false false false false true true false false false false false