2024-05-28T11:28:01-05:00 2023-12-31 810386935 SUMMERS MCNEA & CO PC 15 AVANTA WAY SUITE 1 BILLINGS MT 59102 990 2023-01-01 810166465 MID YELLOWSTONE ELECTRIC CO-OP INC MIDY 4063425521 PO BOX 386 HYSHAM MT 59038 JASON A BROTHEN GENERAL MANAGER 4063425521 2024-05-16 1 JASON BROTHEN 999009999 0 BRIAN F VAN STEELAND P00481262 4066522320 2024-05-14 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z JASON A BROTHEN PO BOX 386 HYSHAM MT 59038 3879313 0 X WWW.MYEC.COOP X 1939 MT RURAL ELECTRIC COOPERATIVE PROVIDING ELECTRIC POWER AND SERVICES TO ITS MEMBERS LOCATED IN RURAL EASTERN MONTANA. 7 7 13 0 0 0 0 0 3877717 3768863 8344 11916 57369 86317 3943430 3867096 0 0 303374 269312 909512 1053164 0 0 0 2382784 2408587 3595670 3731063 347760 136033 10459514 10772043 3195076 3371572 7264438 7400471 THE MISSION OF OUR COOPERATIVE IS TO PROVIDE A RELIABLE SOURCE OF ELECTRICITY TO OUR RURAL AREA AT THE LOWEST POSSIBLE COST. 0 0 PROVIDING ELECTRIC SERVICE TO APPROXIMATELY 2040 METERS BELONGING TO APPROXIMATELY 740 MEMBERS IN RURAL AREAS OF MONTANA. 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 41 0 1 13 1 0 0 0 0 0 4075347 102692 0 0 0 X 7 7 0 1 0 0 1 1 1 1 1 0 0 0 1 0 1 1 1 0 1 0 X MARJ CUNNINGHAM 4063425521 203 ELLIOTT AVE HYSHAM MT 59038 JERRY DECOCK TRUSTEE 0.60 X 1250 0 0 TIMOTHY J FULTON TRUSTEE-PRESIDENT 3.00 X X 5000 0 0 ARLO F JENSEN TRUSTEE 0.30 X 750 0 0 STEVEN F NILE TRUSTEE 1.00 X 3250 0 0 RICHARD E PINKERTON TRUSTEE 6.00 X 9750 0 0 JOSEPH J SCHIFFER TRUSTEE- VICE PRESIDENT 4.00 X X 5500 0 0 REESE E STAHL TRUSTEE 3.00 X 4250 0 0 JAMES ALLEN BAUE TRUSTEE-SECRETARY TREASURER 2.00 X X 4500 0 0 MARJORIE W CUNNINGHAM CFO 40.00 X 80458 0 54037 KENNETH L ROLANDSON COO 40.00 X 108735 0 62612 223443 0 116649 1 0 1 0 0 ELECTRIC SALES 221000 3768863 3768863 3768863 11916 11916 3500 12217 -8717 -8717 -8717 CAPITAL CREDIT ALLOCAT 221000 94586 94586 OTHER NON-OPERATING MA 221000 448 448 95034 3867096 3867096 0 0 X 269312 340092 398463 94536 166681 53392 139350 20881 8250 10564 6612 16739 44378 16771 123553 23669 119040 465399 31529 COST OF POWER 1094253 DISTRIBUTION OPERATION 154263 ADMINISTRATIVE & GENERA 52749 TRANSMISSION OPERATION 38428 42159 3731063 86920 10045 139690 4647 259673 210972 424747 449347 215341 190059 18588774 9383409 8701802 9205365 557629 631200 73712 70408 10459514 10772043 361285 441247 2606950 2338909 397242 226841 194174 3195076 3371572 X 0 0 6966714 7022702 297724 377769 7264438 7400471 10459514 10772043 136033 0 X X 0 1 X 1 0 29351 29351 3046407 1540225 1506182 4951269 2503299 2447970 10561747 5339885 5221862 9205365 PATRONAGE CAPITAL - G&T 206214 C PATRONAGE CAPITAL - OTHER 286389 C CTC'S - CFC 128397 C MEMBERSHIP FEES 2200 C SHARE IN MECA BUILDING 8000 C 631200 CONSUMERS DEPOSITS 29633 CONSUMER ENERGY PREPAYMENTS 46040 CAPITAL CREDITS PAYABLE 118501 194174 X 4173580 306484 306484 3867096 0 3867096 3461751 0 3461751 269312 269312 3731063 PART X, LINE 2: THERE ARE NO UNCERTAIN TAX POSITIONS EXISTING AT DECEMBER 31, 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: CONTRIBUTIONS IN AID OF CONSTRUCTION RECEIVED FROM MEMBERS FOR PLANT CONSTRUCTION 306,484. PART XII, LINE 4B - OTHER ADJUSTMENTS: CAPITAL CREDITS PAID TO MEMBERS 269,312. PART VI, LINE 1E OTHER PROPERTY(B) INCLUDES TRANSMISSION POLES AND WIRE TOTALING $1,463,312 AND DISTRIBUTION POLES, WIRE AND FIXTURES TOTALING $9,098,435. 1 0 0 0 KENNETH L ROLANDSON COO 103628 0 0 0 5107 0 33085 0 29527 0 171347 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 AFTER OUR MANAGER RETIRED IN APRIL, 2016, WE SIGNED A SHARED SERVICES AGREEMENT WITH LOWER YELLOWSTONE RURAL ELECTRIC COOPERATIVE IN SIDNEY, MT TO PROVIDE MANAGEMENT SERVICES FOR OUR COOPERATIVE. JASON BROTHEN IS OUR CEO FROM LYREC. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE IS MADE UP OF MEMBERS WHO RECEIVE ELECTRIC SERVICES - 748 VOTING MEMBERS AS OF 12/31/2023. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT TWO OR THREE BOARD OF TRUSTEES TO SERVE A THREE YEAR TERM AT THE COOPERATIVE ANNUAL MEETING HELD IN MARCH OF EACH YEAR. FORM 990, PART VI, SECTION A, LINE 7B ALL BY-LAW CHANGES RECOMMENDED BY THE BOARD OF TRUSTEES MUST BE APPROVED AND RATIFIED BY THE MAJORITY OF MEMBERSHIP VOTING AT THE COOPERATIVE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE OFFICE MANAGER AND CEO REVIEW THE FORM 990 PRIOR TO SUBMISSION. THE BOARD OF TRUSTEES REVIEW THE FORM 990 AT A BOARD MEETING FOLLOWING SUBMISSION. AFTER REVIEW, IT IS APPROVED. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY STATES THAT THE MANAGER, BOARD, AND ATTORNEY SHARE RESPONSIBILITY FOR MONITORING AND ENFORCING THIS POLICY. A TRUSTEE DISQUALIFIES HIMSELF FROM BOARD ACTION WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 15B A SHARED SERVICES AGREEMENT HAS BEEN SIGNED WITH LOWER YELLOWSTONE RURAL ELECTRIC COOPERATIVE IN SIDNEY, MT TO PROVIDE MYEC WITH MANAGEMENT SERVICES. LYREC IS RESPONSIBLE FOR WAGES/BENEFITS FOR THE CEO AND MYEC IS BILLED FOR SERVICES RENDERED. THE MONTANA STATEWIDE ORGANIZATION-MONTANA ELECTRIC COOPERATIVES' ASSOCIATION (MECA) PERFORMS AN ANNUAL SALARY SURVEY BY JOB CLASSIFICATION. THE CEO USES THIS SALARY SURVEY AND COST OF LIVING INDEX TO DETERMINE A RANGE OF SALARIES FOR THE OFFICE PERSONNEL AND LINEMEN. THE RECOMMENDED SALARIES ARE PRESENTED TO THE BOARD AS PART OF THE BUDGET FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES, FINANCIAL REPORTS - CFC FORM 7 AND FORM 990- ARE AVAILABLE UPON REQUEST AT THE COOPERATIVE OFFICE. IN ADDITION, MYEC BY-LAWS ARE AVAILABLE ON OUR WEBSITE. YEAR-END FINANCIAL STATEMENTS ARE MAILED TO ALL MEMBERS WITH THE ANNUAL MEETING NOTICE PRIOR TO THE ANNUAL MEETING HELD IN MARCH OF EACH YEAR. PART IX, LINE 4 FOR THE PURPOSE OF THIS REPORT, WE ARE CONSIDERING 'BENEFITS PAID' AS THE AMOUNT OF CAPITAL CREDITS ACTUALLY PAID OUT TO OUR MEMBERS. IT IS THE TOTAL OF THE GENERAL RETIREMENT AND THE ESTATES PAID OUT. PART XII, LINE 2C THE BOARD OF TRUESTEES REQUIRE A FORMAL THREE-YEAR AUDIT ENGAGEMENT LETTER CONTRACT FIXING THE ANNUAL FEE AND PERFORM OVERSIGHT OVER THE AUDIT. IN ADDITION, THE AUDITOR IS REQUIRED TO FORMALLY PRESENT THE AUDIT AND ANY FINDINGS TO THE BOARD OF TRUSTEES. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEARS.