2024-06-19T14:36:38-04:00 2023-12-31 731293012 BRISCOE BURKE & GRIGSBY LLP 4120 E 51ST STREET TULSA OK 741353639 990 2023-01-01 730495962 VERDIGRIS VALLEY ELECTRIC COOPERATIVE INC VERD 9183712584 PO BOX 219 COLLINSVILLE OK 74021 ALICE HOUSTON GENERAL MANAGER 9183712584 2024-06-13 true ALICE HOUSTON 999009999 false MICHAEL K BURKE CPA P00054433 9187498337 2024-06-13 2023 2023-04-26 12:10:37Z MICHAEL HALL PO BOX 219 COLLINSVILLE OK 74021 86227186 false X WWW.VVEC.COM X 1938 OK TO PROVIDE RELIABLE ELECTRIC SERVICE TO THE MEMBERS/OWNERS AT A REASONABLE COST 9 9 101 0 0 80295151 85735417 278586 295218 192410 196551 80766147 86227186 0 5350146 6535050 3063680 4369745 0 0 72352321 75322391 80766147 86227186 0 210911514 225034975 121308264 128348194 89603250 96686781 TO PROVIDE RELIABLE ELECTRIC SERVICE TO THE MEMBERS/OWNERS AT A REASONABLE COST false false TO PROVIDE ELECTRICITY TO OUR MEMBERS - 38,937 ACTIVE SERVICES (44,317 TOTAL SERVICES IN PLACE - 5,380 IDLE SERVICES) AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL. false false false false false false false false false true false true false true true true false false false false false false false false false false false false true false false false false false false false false false false false true false false false 36 0 false 101 true false false false false false 81742236 947189 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 OK X ALICE HOUSTON 9183712584 PO BOX 219 COLLINSVILLE OK 74021 ALICE HOUSTON GENERAL MANA 40.00 X 345378 0 121949 MICHAEL HALL COO / CAO 40.00 X 306121 0 115615 RANDY RIDDLE DIR OPERATIO 45.00 X 201160 0 118436 KIMBERLY LOFFER EXC SECR./ME 40.00 X 179654 0 132506 MARLIN BARNHART PURCHASING A 40.00 X 178070 0 125993 DANNY BEMENT DIR OPERATIO 45.00 X 175412 0 122578 KEITH DELOZIER ENGINEER 40.00 X 183906 0 105818 BILL GILLESPIE SAFETY COORD 40.00 X 159246 0 121983 JIMMY LAMBERT TRUSTEE 12.00 X 52132 0 0 JACK BOGART PRESIDENT 8.00 X X 44294 0 0 JIMMY BRACKETT TRUSTEE 10.00 X 42494 0 0 KEN HOWARD VICE PRESIDE 12.00 X X 39375 0 0 JOHN HIBDON TRUSTEE 7.00 X 38294 0 0 DENNIS LENOX TREASURER 10.00 X X 37676 0 0 VERNON LEWIS TRUSTEE 16.00 X 35251 0 0 CHARLES HUERTER TRUSTEE 15.00 X 28201 0 0 BUDDY MCCARTY TRUSTEE 23.00 X 9033 0 0 2055697 964878 56 false true false CAPITAL ELECTRIC 7050 ENSIGN DRIVE PARKVILLE MO 64152 POWERLINE CONST 2830248 HARDIN TREE SERVICE PO BOX 310 OOLOGAH OK 74053 RIGHT OF WAY 2476010 MID-CON ENERGY SERVICE INC PO BOX 2648 PONCA CITY OK 74602 POWERLINE CONST 907901 BAKER TRENCHING PO BOX 52 OWASSO OK 74055 TRENCHING 481127 USIC LOCATING PO BOX 715409 CINCINNATI OH 45271 LOCATING SERVIC 268929 7 SALES OF ELECTRICITY 221000 81742236 81742236 PATRONAGE DIVIDENDS 221000 3993181 3993181 85735417 199559 199559 196551 196551 196551 196551 95659 95659 95659 95659 86227186 81742236 4484950 X 6535050 1535409 2834336 3215997 7390227 COST OF POWER 48855148 DISTRIBUTION 11304082 CONSUMER EXPENSE 2958061 TAXES 1598440 436 86227186 0 0 0 944856 2850748 1147921 59509 7574508 8062159 1872812 1695364 96663 96743 228143245 64061178 154396443 164082067 44836167 48176737 42144 11648 210911514 225034975 12401789 16676009 99431266 102575874 9475209 9096311 121308264 128348194 X 902060 906700 4072739 4844588 84628451 90935493 89603250 96686781 210911514 225034975 X 0 7083531 X false true X true false 581765 581765 4023084 2650914 1372170 223504049 61401684 162102365 34347 8580 25767 164082067 INVESTMENTS IN ASSOCIATED 48143404 C RESTRICTED CASH ACCOUNT 33333 C 48176737 FAS 106 LIABILITY 8240599 OTHER 855712 9096311 X 86227186 86227186 86227186 79692136 79692136 6535050 6535050 86227186 SCHEDULE D, PAGE 3, PART X THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS CONSIDERED WHETHER THE COOPERATIVE HAS ANY UNCERTAIN TAX POSITIONS, EMBEDDED OR OTHERWISE, THAT WOULD MATERIALLY IMPACT THE FINANCIAL STATEMENTS. MANAGEMENT BELIEVES NO SUCH MATERIAL UNCERTAINTIES EXIST, THEREFORE NO PROVISION IS PROVIDED. SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE DIVIDENDS ALLOCATED 6,535,050 X X false false false ALICE HOUSTON GENERAL MANAGER 326540 300 18538 88861 33088 467327 MICHAEL HALL COO / CAO 284477 800 20844 83416 32199 421736 RANDY RIDDLE DIR OPERATIONS/TECH 198619 2541 100906 17530 319596 KIMBERLY LOFFER EXC SECR./MEMBER SUP 176492 560 2602 90285 42221 312160 MARLIN BARNHART PURCHASING AGENT 175818 700 1552 87367 38626 304063 DANNY BEMENT DIR OPERATIONS/TECH 167217 677 7518 80385 42193 297990 KEITH DELOZIER ENGINEER 179852 600 3454 65032 40786 289724 BILL GILLESPIE SAFETY COORDINATOR 153716 800 4730 106631 15352 281229 SCHEDULE J, PART III PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE OR DECREASE IN ACTUARIAL VALUE OF RS DEFINED BENEFIT PENSION PLAN. THIS INCREASE OR DECREASE DOES NOT REPRESENT CASH PAYMENTS UNDER THE PLAN. FORM 990, PAGE 6, PART VI, LINE 6 MEMBERS FORM 990, PAGE 6, PART VI, LINE 7A YES FORM 990, PAGE 6, PART VI, LINE 7B YES FORM 990, PAGE 6, PART VI, LINE 11B REVIEW AND/OR APPROVAL BY BOARD. FORM 990, PAGE 6, PART VI, LINE 12C ORGANIZATION PERIODICALLY REVIEWS ITS CONFLICT OF INTEREST POLICY AT BOARD MEETINGS. FORM 990, PAGE 6, PART VI, LINE 15A MANAGER'S COMPENSATION INCLUDES A REVIEW OF PRIOR YEAR'S OPERATIONAL AND FINANCIAL DATA, COMPARISON OF OTHER MANAGERS' COMPENSATION FOR A COMPARABLE SIZE COOPERATIVE IN OUR STATE. ALL THIS INFORMATION IS CONSIDERED BY THE VVEC BOARD OF DIRECTORS ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 15B KEY EMPLOYEES ARE COMPENSATED BASED ON MERIT AND YEARS OF SERVICE. FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC FORM 990, PART VII FORM 990, PART IX THE COOPERATIVE'S ACCOUNTING RECORDS ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS REQUIRED BY ITS REGULATORY AGENCY. THE UNIFORM SYSTEM OF ACCOUNTS DOES NOT RECORD EXPENSES IN THE EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THEREFORE, OTHER EXPENSES LINE 24 INCLUDES EXPENSES THAT ARE DESCRIBED IN LINES 1-23, BUT REPORTED USING THE UNIFORM SYSTEM OF ACCOUNTS. FORM 990, PART X FORM 990, PART IX: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID OR ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS." PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN THE "NON-PROFIT OPERATION" ARTICLE OF THE COOPERATIVE'S BYLAWS. FORM 990, PART XI, LINE 9 INCREASE IN MEMBERSHIPS 4,640 BENEFITS MARGIN ALLOCATION 6,535,050 INCREASE IN AOCI 550,155 INCREASE IN OTHER EQUITIES 771,849 RECLASSIFICATION OF PRIOR YEAR MARGINS -278,163 RETIREMENT OF CAPITAL CREDITS -500,000 TOTAL 7,083,531 VERDIGRIS VALLEY SERVICES PO BOX 219 COLLINSVILLE OK 74021 INACTIVE OK N/A 1.00000 false VERDIGRIS VALLEY ECONOMIC DEVELOPMENT PO BOX 219 COLLINSVILLE OK 74021 INACTIVE OK N/A 21951 1.00000 false false false false false false false false false false false false false false false false false false true false VERDIGRIS VALLEY ECONOMIC DEVELOPMENT CORPORATION R 436 REAL ESTATE TAXES