2024-07-26T12:49:46-07:00 2023-12-31 751699625 Knuckols Duvall Hallum & Co 204 S Wellington Marshall TX 75670 990 2023-01-01 750535849 Rusk County Electric Cooperative Inc RUSK 9036574571 PO Box 1169 Henderson TX 75653 Rhett Reid General Manager 2024-07-26 true true R Michael Hallum CPA P01266544 9039380331 2023 2024-08-08 14:25:15Z PO Box 1169 Henderson TX 75653 63343802 false X www.rcelectric.org X 1938 TX THE MISSION OF RCEC IS TO PROVIDE RELIABLE, EFFICIENT, AND ECONOMICAL SERVICES TO OUR CUSTOMERS THAT ENHANCE THEIR QUALITY OF LIFE. RCEC PROVIDED ELECTRICAL ENERGY TO OVER 15,000 COOPERATIVE MEMBERS. 7 7 84 0 0 73889883 62970672 133575 243905 120807 126337 74144265 63340914 0 1930839 2019070 646417 723788 0 0 71567009 60598056 74144265 63340914 0 137864154 140411983 61605677 63048046 76258477 77363937 THE MISSION OF RCEC IS TO PROVIDE RELIABLE, EFFICIENT, AND ECONOMICAL SERVICES TO OUR CUSTOMERS THAT ENHANCE THEIR QUALITY OF LIFE. RCEC PROVIDED ELECTRICAL ENERGY TO OVER 15,000 COOPERATIVE MEMBERS. false false 63340914 PROVIDE ELECTRICAL ENERGY AND SERVICES TO OVER 15,000 MEMBERS. 63340914 false false false false false false false false false true false true false true false 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 false false false true 31 0 true 84 true false false false false false 62114613 1226301 false false false X 7 7 false false false false true true true true true false false true true true true true true true true false X Brendon Dane 9036574571 PO Box 1169 Henderson TX 75653 Rhett Reid General Manager 55.00 0.00 X 231928 0 117602 BELINDA KERN MNGR OF OFF. SERV. 50.00 0.00 139601 0 123847 JIM DICKESON SUPER OF STRAT SER 50.00 0.00 136879 0 102584 RUBEN CONTRERAS CREW FOREMAN 55.00 0.00 156248 0 64305 BRENDON DANE FINANCE MANAGER 50.00 0.00 X 134107 0 67911 CLAY LONG CREW FOREMAN 59.00 0.00 142975 0 58698 ROBERT J WILLIAMS CHIEF OPERATE OFF 53.00 0.00 142428 0 57694 KENNETH KEELING President 30.00 0.00 X X 35813 0 0 EMILY WHITWORTH SECRETARY TREAS 16.00 0.00 X X 35413 0 0 RICHARD HACKER ASSIST SEC/TREA 22.00 0.00 X X 33513 0 0 SAM ALLISON Director 16.00 0.00 X 25815 0 0 JAY INNERARITY Vice President 26.00 0.00 X X 23531 0 0 TONY CAVALIERE Director 20.00 0.00 X 9700 0 0 NORA TIPPS Director 15.00 0.00 X 8455 0 0 1256406 592641 7 false true false HARRIS LINE SERVICE CO INC PO BOX 7165 LONGVIEW TX 75607 LINE ROW MAINTENANCE 1261590 NORTHEAST TEXAS POWER INC PO BOX 559 CUMBY TX 75433 UTILITY PLANT CONST. CONT 653053 RE-CON COMPANY 12 NE 52ND STREET OKLAHOMA CITY OK 73105 SUBSTATION CONST. CONTRAC 610244 HOFFPAUIR TREE SERVICES INC 456 THUNDER VALLEY RD DERIDDER LA 70634 LINE ROW MAINTENANCE 768609 POWER ENGINEERS INC PO BOX 855321 MINNEAPOLIS MN 554855321 ENGINEERING CONSULTANTS 340887 9 0 PATRONAGE CAPITAL 221000 856059 856059 SALE OF ELECTRICITY 221000 62114613 62114613 62970672 212932 212932 0 0 118305 118305 118305 118305 33861 2888 30973 30973 30973 0 0 0 MISCELLANEOUS INCOME 221000 8032 8032 8032 63340914 62978704 362210 0 0 0 2019070 2019070 723788 723788 0 0 0 0 0 0 0 0 0 0 0 0 37663 37663 292842 292842 0 0 0 38868 38868 0 0 1880687 1880687 0 4420091 4420091 84591 84591 COST OF PURCHASED POWER 40577929 40577929 DISTRIBUTION EXPENSE-MAINTENAN 5880900 5880900 DISTRIBUTION EXPENSE-OPERATION 3359101 3359101 CUSTOMER ACCOUNTS EXPENSE 1940000 1940000 2085384 2085384 63340914 63340914 0 0 1279189 1081752 800000 600000 0 5380801 3951770 0 0 0 1425378 1757842 3331394 2897175 152328236 45769073 102668056 106559163 0 0 22979335 23564280 0 1 1 137864154 140411983 8583126 9056634 51529410 52670986 1493141 1320426 61605677 63048046 X 76258477 77363937 76258477 77363937 137864154 140411983 X 0 1105460 X X false true X true false 704514 704514 4003514 1592842 2410672 147620208 44176231 103443977 106559163 23564280 Consumer Deposits 1119156 DEFERRED INSTALLATION CHARGES 201270 1320426 63340914 63340914 63340914 63340914 63340914 63340914 X X false false false BELINDA KERN MNGR OF OFF. SERV. 139601 100196 23651 263448 BRENDON DANE FINANCE MANAGER 134107 38992 28919 202018 CLAY LONG CREW FOREMAN 142975 30208 28490 201673 JIM DICKESON SUPER OF STRAT SER 136879 80337 22247 239463 Rhett Reid General Manager 231928 88035 29567 349530 ROBERT J WILLIAMS CHIEF OPERATE OFF 142428 29297 28397 200122 RUBEN CONTRERAS CREW FOREMAN 156248 50265 14040 220553 Form 990, Part VI, Section A, Line 6 ANY PERSON, FIRM, CORPORATION, BODY POLITIC, OR ANY LEGAL ENTITY HAVING A DWELLING, STRUCTURE, APPARATUS, OR POINT OF DELIVERY LOCATED IN RCEC'S SERVICE TERRITORY THAT IS NOT RECEIVING CENTRAL STATION SERVICE, AS DEFINED IN TEXAS UTILITY CODE ANN., SEC 161.002 (3) AS AMENDED FROM TIME TO TIME, FROM ANOTHER SOURCE, MAY BECOME A MEMBER OF THE COOPERATIVE. Form 990, Part VI, Section A, Line 7a EACH MEMBER OF THE COOPERATIVE SHALL BE ENTITLED TO VOTE FOR ONE CANDIDATE FOR THE BOARD OF DIRECTORS FROM EACH OF SEVEN DISTRICTS. THE CANDIDATE FROM EACH DISTRICT RECEIVING THE HIGHEST NUMBER OF VOTES SHALL BE CONSIDERED THE ELECTED DIRECTOR. Form 990, Part VI, Section A, Line 7b AS ESTABLISHED IN THE RCEC BY-LAWS, ARTICLE IX: THE COOPERATIVE MAY NOT SELL, MORTGAGE, LEASE, OR OTHERWISE DISPOSE OF OR ENCUMBER ANY OF ITS PROPERTY OTHER THAN; (A) PROPERTY WHICH IN THE JUDGEMENT OF THE BOARD OF DIRECTORS NEITHER IS NOR WILL BE NECESSARY OR USEFUL IN OPERATING AND MAINTAINING THE COOPERATIVE'S SYSTEM AND FACILITIES; PROVIDED, HOWEVER, THAT ALL SALES OF SUCH PROPERTY SHALL NOT, IN ANY ONE YEAR, EXCEED IN VALUE TEN PERCENT (10%) OF THE VALUE OF ALL PROPERTY OF THE COOPERTIVE; (B) SERVICES OF ALL KINDS, INCLUDING ELECTRIC ENERGY; AND (C) PERSONAL PROPERTY ACQUIRED FOR RESALE; UNLESS SUCH SALE, MORTGAGE, LEASE, OR OTHER DISPOSITION OR ENCUMBERENCE IS AUTHORIZED AT A MEETING OF THE MEMBERS BY THE AFFIRMATIVE VOTE OF AT LEAST TWO-THIRDS (2/3) IF THE MEMBERS VOTING THEREON AT SUCH MEETING IN PERSON OR BY PROXY. Form 990, Part VI, Section B, Line 11b A PHOTOCOPY OR DIGITAL COPY OF THE ORGANIZATION'S FINAL FORM 990 (INCLUDING REQUIRED SCHEDULES) AS ULTIMATELY FILED WITH THE IRS, IS PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS AT A REGULARLY SCHEDULED MEETING BEFORE THE FORM 990 FILING DEADLINE. THE FORM 990 IS PRESENTED, AND EACH SECTION IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO BEING FILED WITH THE IRS. Form 990, Part VI, Section B, Line 12c RCEC BY-LAWS, ARTICLE IV, SEC 6 READS AS FOLLOWS: CONFLICT OF INTEREST TRANSACTION. A CONFLICT OF INTEREST TRANSACTION IS A TRANSACTION WITH THE COOPERATIVE IN WHICH A DIRECTOR HAS A DIRECT OR INDIRECT INTEREST ("CONFLICT OF INTEREST TRANSACTION"). (A) INDIRECT INTEREST. A DIRECTOR HAS AN INDIRECT INTEREST IN A CONFLICT OF INTEREST TRANSACTION IF AT LEAST ONE PARY TO THE TRANSACTION IS ANOTHER: (1) IN WHICH THE DIRECTOR HAS A MATERIAL INTEREST OR IS A GENERAL PARTNER; OR (2) OF WHICH THE DIRECTOR IS A DIRECTOR, OFFICER, OR TRUSTEE. (B) APPROVAL OF CONFLICT OF INTEREST TRANSACTION. REGARDLESS OF THE PRESENCE OR VOTE OF A DIRECTOR INTERESTED IN A CONFLICT OF INTEREST TRANSACTION, A CONFLICT OF INTEREST TRANSACTION MAY BE APPROVED, AND ANY BOARD QUORUM SATISFIED, IF THE CONFLICT OF INTEREST TRANACTION'S MATERIAL FACTS, AND THE DIRECTOR'S INTEREST, ARE DISCLOSED OR KNOWN TO THE BOARD AND MAJORITY OF MORE THAN ONE DIRECTOR WITH NO INTEREST IN THE CONFLICT OF INTEREST TRANSACTION VOTES TO APPROVE THE CONFLICT OF INTEREST TRANSACTION. (C) FAIR CONFLICT OF INTEREST TRANSACTION. A CONFLICT OF INTEREST TRANSACTION THAT IS FAIR WHEN ENTERED IS NEITHER: (1) VOIDABLE; NOR (2) THE BASIS FOR IMPOSING LIABILITY ON A DIRECTOR INTERESTED IN THE CONFLICT OF INTEREST TRANSACTION. BOARD POLICY NO. 47, CONFLICTS OF INTEREST, READS AS FOLLOWS:SEC. III POLICY. A CONFLICT OF INTEREST ARISES WHEN AN (RCEC) OFFICIAL MAY BENEFIT FINANCIALLY FROM A DECISION HE OR SHE COULD MAKE IN HIS OR HER CAPACITY WITH THE COOPERATIVE, INCLUDING INDIRECT BENEFITS, SUCH AS BENEFITS TO FAMILY MEMBERS OR BUSINESSES WITH WHICH THE OFFICIAL IS ASSOCIATED. SEC. IV. DISCLOSURE. OFFICIALS SHALL DISCLOSE ANNUALLY OR UPON THEIR INITIAL ARISING, ANY INTERESTS THAT COULD CONSTITUTE A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. IN THE INSTANCE OF A KEY EMPLOYEE, MANAGER, OR OFFICER, THE DISCLOSURE SHALL BE MADE TO THE BOARD. SEC V. COMPLIANCE AND ENFORCEMENT. THE BOARD IS RESPONSIBLE FOR INTERPRETING AND ENFORCING THIS POLICY, AS WELL AS FOR TAKING ANY ACTIONS IT DEEMS APPROPRIATE UNDER THIS POLICY. THE MINUTES OF BOARD MEETINGS MUST RECORD ALL ACTIONS TAKEN WITH RESPECT TO CONFLICTS OF INTEREST. Form 990, Part VI, Section B, Line 15a EACH YEAR, THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION CHANGES FOR THE GENERAL MANAGER. THE BOARD USES DATA PROVIDED BY NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION COMPENSATION SURVEYS, FOR BOTH TEXAS GENERAL MANAGERS, AS WELL AS GENERAL MANAGERS ACROSS THE NATION. THE DELIBERATIONS ARE CONDUCTED IN EXECUTIVE SSESSION; THE RESULTS OF THE DELIBERATIONS ARE ANNOUNCED IN PUBLIC SESSION AND ARE RECORDED IN THE MEETING MINUTES. Form 990, Part VI, Section B, Line 15b RCEC HAS NO EMPLOYEES, OTHER THAN THE GENERAL MANAGER AND MANAGER OF FINANCE, THAT MEET THE IRS DEFINITION OF "OFFICER OR KEY EMPLOYEE". EACH YEAR, THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION CHANGES FOR RANK AND FILE EMPLOYEES THROUGH THE ADOPTION OF A WAGE AND SALARY PLAN, BASED UPON REGIONAL, STATE, AND NATIONAL COOPERATIVE COMPENSATION DATA COLLECTED AND PREPARED BY AN INDEPENDENT, THIRD-PARTY CONSULTING SERVICE. Form 990, Part VI, Section C, Line 19 RCEC PRESENTS A COPY OF ITS BY-LAWS TO EACH NEW MEMBER OF THE COOPERATIVE. RCEC ALSO MAKES ITS GOVERNING DOCUMENTS, AS WELL AS ITS CONFLICT OF INTERST POLICY AND ANNUAL FINANCIAL STATEMENTS (WHETHER OR NOT AUDITED) AVAILABLE TO THE GENERAL PUBLIC. THESE DOCUMENTS ARE AVAILABLE FOR INSPECTION AT THE COOPERATIVE'S HEADQUARTERS. Form 990, Part XI, Line 9 Decrease in Memberships = -$4855 Form 990, Part XI, Line 9 INCREASE IN ASSIGNED MARGINS = $2019070 Form 990, Part XI, Line 9 PATRONAGE CAPITAL RETIRED = -$908755 Form 990, Part XII, Line 2c RCEC OBTAINS AN AUDITED FINANCIAL STATEMENT PREPARED IN ACCORDANCE WITH UNITED STATES DEPARTMENT OF AGRICULTURE RURAL UTILITIES SERVICE BULLETIN 1767B-1, USING POLICIES AND PROCEDURES CODIFIED IN 7CFR PART 1767, ACCOUNTING REQUIREMENTS FOR RUS ELECTRIC BORROWERS. THIS FINANCIAL STATEMENT IS PREPARED ANNUALLY ON A FISCAL-YEAR BASIS WHICH BEGINS ON OCTOBER 1ST. ALL OTHER FINANCIAL AND STATISTICAL REPORTING IS DONE ON A CALENDAR-YEAR BASIS.