2023-11-01T12:06:19-05:00 2022-12-31 FORVIS LLP PO BOX 3667 LITTLE ROCK AR 722033667 990 2022-01-01 730171526 CANADIAN VALLEY ELECTRIC COOPERATIVE INC % JAMIE SCOTT CANA 4053823680 11277 N HWY 99 SEMINOLE OK 74868 GARY HIGHLEY CEO 4053823680 2023-10-19 true GARY HIGHLEY 000000000 AMBER SHERRILL P00748683 5013721040 2 2022 2023-04-26 12:10:37Z GARY HIGHLEY 11277 N HWY 99 SEMINOLE OK 74868 93071839 false X WWW.MYCVEC.COOP X 1939 OK TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS. 8 8 100 8 -22189939 0 1411887 0 73442789 90092188 526386 542892 -6110749 -22149361 69270313 68485719 0 0 2840102 555296 5327403 6022463 0 0 0 66416363 85486690 74583868 92064449 -5313555 -23578730 173885980 211219672 98631406 135578487 75254574 75641185 TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS. false false TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS. false false false false false false false false false true false true true 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 true false true 21 0 true 100 true true true false false false false 88684258 4173835 false false false X 8 8 false false false false true true true true true false false true true true true true true true true false OK X JAMIE SCOTT 4053823680 11277 N HWY 99 SEMINOLE OK 74868 X GARY HIGHLEY CEO 45.0 0.0 X 266152 0 61357 JOSHUA HOLT COO 48.0 0.0 X 158617 0 45209 SHEILA ALLGOOD GENERAL MANAGER OF BROADBAND 43.0 0.0 X 142021 0 36743 JOHN COLVIN AREA SERVICEMAN 60.0 0.0 X 149155 0 26023 JAMIE SCOTT MANAGER OF FINANCE 43.0 0.0 X 130882 0 40950 DON PAK MANAGER OF IT & SMART GRID 44.0 0.0 X 126390 0 40511 JESSE MURRAY DIRECTOR OF SAFETY & LOSS CTRL 46.0 0.0 X 124667 0 40051 KIMBERLY BEHRNES MANAGER OF ENGINEERING 40.0 0.0 X 123738 0 14093 MATT GOODSON BOARD TRUSTEE 17.0 5.0 X 16156 0 0 ROBERT SCHOENECKE BOARD TRUSTEE - SECRETARY 3.0 0.0 X X 16036 0 0 JOE SEMTNER BOARD TRUSTEE - PRESIDENT 18.0 0.0 X X 15956 0 0 YATES ADCOCK BOARD TRUSTEE - VICE PRESIDENT 3.0 0.0 X X 15956 0 0 STEVE MARAK BOARD TRUSTEE - TREASURER 18.0 0.0 X X 15606 0 0 CLAYTON EADS BOARD TRUSTEE 9.0 0.0 X 14296 0 0 JP DUVALL BOARD TRUSTEE 5.0 0.0 X 14264 0 0 GARY CRAIN BOARD TRUSTEE 8.0 20.0 X 10314 0 0 JESSE SNYDER BOARD TRUSTEE 3.0 0.0 X 5563 0 0 1345769 0 304937 20 false true false RIGGS TREE SERVICE INC PO BOX 453225 GROVE OK 74345 TREE TRIMMING 4458146 GULF COAST BUSINESS CREDIT PO BOX 731152 DALLAS TX 75373 MAKE READY CONSTRUCT 4516029 BENTON TECHNICAL SERVICES INC PO BOX 874654 KANSAS CITY MO 64187 FIBER CONSTRUCTION 13989391 MDR CONSTRUCTION INC 621 E BAYLIS CHAPEL RD COLUMBIA MS 39429 MAKE READY CONSTRUCT 2437096 CONEXON LLC 2001 GRAND BLVD STE 700 KANSAS CITY MO 64108 FIBER CONSTRUCTION 2341285 17 X 0 SALES OF ELECTRIC ENERGY 221000 88515032 88515032 G&T CAPITAL CREDITS 221000 1407930 1407930 OTHER CAPITAL CREDITS 221000 169226 169226 90092188 395261 218517 176744 0 0 1170274 213746 24424130 -23253856 213746 -23040110 -23253856 213746 147631 147631 147631 147631 0 0 0 0 0 0 207339 161990 45349 45349 Management Fees from CVEC Fiber 237130 845400 845400 845400 68485719 90092188 -22189939 583470 0 0 0 555296 827314 0 4039760 25856 725635 403898 0 153161 96866 0 0 0 4059542 0 214127 614578 0 106890 1038669 0 103850 3609568 0 5505366 1716134 COST OF ELECTRIC POWER 64779431 TAXES 1783525 TOOLS & LINE MATERIALS 945161 DUES & SUBSCRIPTIONS 204306 555516 92064449 305433 590456 212125 9193 0 0 17451359 17462828 0 0 0 0 0 0 5256908 4852168 28238 31909 204496024 60084953 105578763 144411071 0 0 0 0 31663981 31164914 0 0 13389173 12697133 173885980 211219672 14044076 13054482 0 0 0 0 0 0 0 0 0 0 76947507 115898840 0 0 7639823 6625165 98631406 135578487 X 0 0 0 0 75254574 75641185 75254574 75641185 173885980 211219672 X -23578730 -32311 23997652 X false true X true false 109712 109712 11858259 2697653 9160606 147880991 57387300 90493691 44647062 44647062 144411071 ARK ELECTRIC-PATRONAGE CAPITAL 369868 C NRUCFC-PATRONAGE CAPITAL 45314 C NRUCFC-CAP. TERM CERTIFICATES 814662 C NRUCFC-MEMBER CERTIFICATES 1000 C WESTERN FARMERS-PATRONAGE CAP 31553392 C NISC-PATRONAGE CAPITAL 189503 C FEDERATED-EQUITY ACCOUNT ALLOC 264612 C NRTC-MEMBERSHIP 15267 C COBANK-MEMBERSHIP & PATRONAGE 253752 C CVEC FIBER SUB -2342456 C 31164914 NONUTILITY PROPERTY 949157 DEFERRED DEBITS 1602396 REGULATORY ASSET 10144061 12697133 0 POST RETIREMENT BENEFIT OBLIGATION 1052723 CONSUMER DEPOSITS 5572442 6625165 90779568 24424130 24424130 66355438 2130281 2130281 68485719 91509153 91509153 555296 555296 92064449 FORM 990, 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 NO IDENTIFIED ANY MATERIAL TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. FORM 990, SCHEDULE D, PART XI, LINE 2D BOOK TO TAX DEPRECIATION DIFFERENCE 24,424,130 FORM 990 SCHEDULE D, PART XI LINE 4B SHARED EMPLOYEE REVENUE 845,400 LOSS FROM SUBSIDIARY 1,284,881 ----------------------------------------------- TOTAL $2,130,281 FORM 990, SCHEDULE D, PART XII, LINE 2B PATRONAGE CAPITAL ASSIGNED TO MEMBERS $555,296 X X X X false false false GARY HIGHLEY CEO 265902 0 250 0 0 0 37369 0 23988 0 327509 0 0 0 JOSHUA HOLT COO 158367 0 250 0 0 0 22387 0 22822 0 203826 0 0 0 JAMIE SCOTT MANAGER OF FINANCE 130632 0 250 0 0 0 18529 0 22421 0 171832 0 0 0 DON PAK MANAGER OF IT & SMART GRID 126140 0 250 0 0 0 18113 0 22398 0 166901 0 0 0 JESSE MURRAY DIRECTOR OF SAFETY & LOSS CTRL 124417 0 250 0 0 0 17714 0 22337 0 164718 0 0 0 JOHN COLVIN AREA SERVICEMAN 148405 0 750 0 0 0 10013 0 16010 0 175178 0 0 0 SHEILA ALLGOOD GENERAL MANAGER OF BROADBAND 141771 0 250 0 0 0 19898 0 16845 0 178764 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ELECTRIC UTILITY IS MEMBER OWNED. TRUSTEES ARE ELECTED BY THE MEMBERSHIP TO SERVE THREE YEAR TERMS. ANY MEMBER MAY FILE TO STAND FOR ELECTION BY FILING A NOTICE OF INTENT TO STAND FOR ELECTION DURING THE PUBLISHED FILING PERIOD. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS VOTE WITHIN THEIR DISTRICT TO APPOINT THE BOARD MEMBER TO REPRESENT THEM. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE BYLAWS ARE SUBJECT TO APPROVAL BY THE MEMBERS. MEMBERS MAY ALSO PETITION FOR REMOVAL, FOR JUST CAUSE, OF TRUSTEES OR OFFICERS. FORM 990, PART VI, SECTION B, LINE 11B THE MANAGER OF FINANCE, CEO, AND THE BOARD OF TRUSTEES REVIEW THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED REGULARLY, AND WRITTEN SURVEYS ARE COLLECTED FROM EACH TRUSTEE ANNUALLY. AFTER DISCLOSURE OF ANY CONFLICTS, THE CEO MAY CONSULT WITH THE ATTORNEY OF CVEC AND/OR SUBMIT THE ISSUE TO THE BOARD OF TRUSTEES. THE CEO, IF APPROPRIATE, MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR AGREEMENT. AFTER EXERCISING DUE DILIGENCE, THE CEO SHALL DETERMINE WHETHER CVEC CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST AND IF AN ALTERNATIVE CANNOT BE FOUND WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE BEST INTEREST OF CVEC. FORM 990, PART VI, SECTION B, LINE 15A & 15B COMPENSATION SURVEYS BASED ON FIGURES FROM ALL ELECTRIC DISTRIBUTION COOPERATIVE HEADQUARTERS IN OKLAHOMA ARE USED TO DETERMINE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES, AS WELL AS A SALARY STUDY FROM AN INDEPENDENT CONSULTANT. THE INDEPENDENT CONSULTANT LAST STUDY WAS CONDUCTED IN JUNE 2022. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VIII, LINE 6A PERSONAL PROPERTY RENTAL REVENUES EXCLUDED FROM UNRELATED BUSINESS INCOME ARE RELATED TO POLE RENTAL INCOME. FORM 990, PART XI, LINE 9 CHANGE IN FUNDED STATUS OF POST RETIREMENT BENEFIT PLAN 1,208,452 PATRONAGE CAPITAL ASSIGNABLE 555,296 RETIREMENT OF CAPITAL CREDITS (145,352) CHANGE IN MEMBERSHIPS 2,370 CHANGE IN DONATED CAPITAL 18,950 GAIN ON RETIRED CAPITAL CREDITS 64,087 BOOK TO TAX DEPRECIATION EXPENSE 24,424,130 EQUITY IN EARNINGS OF SUBSIDIARY (1,284,881) SHARED EMPLOYEE REVENUE (845,400) ---------------- TOTAL 23,997,652 CVEC FOUNDATION INC PO BOX 751 SEMINOLE OK 74818 731553974 GRANTS OK 501(C)(3) 10 CVEC true CVEC FIBER LLC 11277 N HWY 99 SEMINOLE OK 74868 853139492 FIBER OK CVEC C CORPORATION 4479988 4320001 1.00000 true true false false true false false false false false true false false false false true false false true false CVEC FIBER LLC A 1388791 FMV CVEC FIBER LLC O 845400 FMV