2024-10-17T16:06:17-07:00 2023-12-31 990 2023-01-01 750481385 PANOLA-HARRISON ELECTRIC PANO 9039357936 PO BOX 1058 MARSHALL TX 756711058 Michael A Haynes General Manager 9039357936 2024-10-17 1 2023 2024-10-15 13:58:12Z Michael Haynes PO BOX 1058 Marshall TX 756711058 41069705 0 X WWW.PHEC.US X 1937 TX DISTRIBUTION OF ELECTRICITY AND RELATED SERVICES TO RURAL CUSTOMERS / MEMBERS 7 7 42 0 0 0 0 0 55533585 40096282 79381 312425 583796 660003 56196762 41068710 0 0 1202882 -2777560 4777328 5012127 0 0 0 50216552 38834143 56196762 41068710 0 0 72829226 68891397 27410901 26399880 45418325 42491517 PANOLA-HARRISON ELECTRIC COOPERATIVE IS AN ELECTRIC DISTRIBUTION COOPERATIVE FORMED FOR THE PURPOSE OF PROVIDING ELECTRICITY TO RURAL CUSTOMERS IN PANOLA AND HARRISON COUNTIES IN TEXAS; CADDO AND DESOTO PARISHES IN LOUISIANA. 0 0 SUPPLYING ELECTRIC SERVICE TO APPROXIMATELY 20,660 RURAL CUSTOMER METERS 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 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 26 0 1 42 1 0 0 0 0 0 40096282 973423 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X X PANOLA-HARRISON ELEC COOP C/O RACHEL HOLLIDAY 9039357936 PO BOX 1058 MARSHALL TX 756711058 M AUSTIN HAYNES GENERAL MANAGER 50 X X X 162535 0 63372 JAY KING SERVICEMAN/SERVICE LINEMAN 50 X 138438 0 53742 CODIE STEWART LINEMAN 50 0 X 132982 0 52463 PAUL DAVIDSON CREW FOREMAN 50 0 X 130272 0 53003 JASON BURSON SERVICEMAN/SERVICE LINEMAN 50 0 X 123040 0 52586 TYLER WHITSETT SERVICEMAN/SERVICE LINEMAN 50 X 122564 0 46733 ALBERT S TILLER PRESIDENT / DIRECTOR 7 0 X X 33672 0 0 PAUL FORTUNE DIRECTOR 2 0 X X 33506 0 0 ROBERT ORTIGO DIRECTOR 1 0 X X 30162 0 0 JAY GOSWICK SECRETARY/TREASURER/DIRECTOR 3 0 X X 30121 0 0 H GENE STOUGH JR DIRECTOR 1 0 X X 26534 0 0 JERRY L HOLMES VICE PRES/DIRECTOR 4 0 X X 26309 0 0 DEBBIE BURCH DIRECTOR 2 0 X X 8760 0 0 998895 0 321899 14 0 1 0 BREXAN LINE SERVICE 102 N COLLEGE AVENUE TYLER TX 75702 CONTRACTOR 2138833 SPARKS ENERGY INC 1370 KIRBY BRIDGE ROAD DANVILLE AL 35619 CONTRACTOR 1631199 RE-CON COMPANY 12 NE 52ND ST OKLAHOMA CITY OK 73105 ASSISTANCE WITH SUBSTATION UPGRADES 1411120 TREE EXPERTS 803 S Home Street Corrigan TX 75939 RIGHT OF WAY CLEARING 1390550 TALL PINE ROW MAINTENANCE 12591 FM 58 LUFKIN TX 759012677 RIGHT-OF-WAY MAINTENANCE 995971 10 0 SALES OF ELECTRICITY 221000 39533613 39533613 0 0 OTHER SERVICE REVENUES 221000 562669 562669 0 0 0 0 0 0 40096282 296807 296807 0 0 0 0 0 0 4428 4428 0 0 0 0 995 0 -995 0 -995 -995 0 0 0 15618 0 0 0 15618 15618 0 0 15618 PATRONAGE CAPITAL CREDITS 221000 510168 510168 0 0 OTHER REVENUE 221000 146402 146402 0 0 0 0 0 0 656570 41068710 41053092 0 15618 X -2777560 1320793 0 2435372 409020 600359 246583 36048 18973 8290880 22360 48082 36247 250730 11018 489163 2154557 277380 PURCHASED POWER COST 32910129 TRANSMISSION & DISTRIBUTION 1090686 CONSUMER ACCTS & GEN/ADMINISTRATION 380506 LESS: COST CAPITALIZED TO CONSTRUCTION -7182616 41068710 0 0 0 122649 115094 11284510 6172423 8031790 4685005 1311648 945702 429367 408642 84509102 44455275 32886505 40053827 16167169 16510704 2595588 72829226 68891397 7459466 5403622 9282696 11003781 10668739 9992477 27410901 26399880 X 0 0 0 0 45418325 42491517 45418325 42491517 72829226 68891397 X 0 0 0 0 0 -2926808 X 0 0 0 0 1062174 1062174 0 899041 530085 368956 0 68731982 40690908 28041074 0 4971402 3234282 1737120 0 8844503 0 8844503 40053827 Invest. in Assoc. Org. - Patronage Capital 15894139 C Invest. in Assoc. Org. - Other - General Funds 18028 C Invest. in Assoc. Org. - Other - Nongeneral Funds 598537 C 16510704 0 Accumulated Provision for Retirement Benefits 1637858 Consumer Deposits 3809294 Customer Advances for Construction/Retirement 4538585 Estimated Installed Cost on Special Equipment 6740 9992477 X 0 0 0 M AUSTIN HAYNES GENERAL MANAGER 150535 0 12000 0 0 0 30794 0 32577 0 225906 0 0 0 JAY KING SERVICEMAN/SERVICE LINEMAN 135378 0 3060 0 0 0 21474 0 32268 0 192180 0 0 0 CODIE STEWART LINEMAN 129978 0 3004 0 0 0 20230 0 32233 0 185445 0 0 0 PAUL DAVIDSON CREW FOREMAN 127240 0 3032 0 0 0 20753 0 32250 0 183275 0 0 0 JASON BURSON SERVICEMAN/SERVICE LINEMAN 120029 0 3011 0 0 0 20353 0 32233 0 175626 0 0 0 TYLER WHITSETT SERVICEMAN/SERVICE LINEMAN 119967 0 2597 0 0 0 20107 0 26626 0 169297 0 0 0 Schedule J, Part I, Line 3 See Schedule O Form 990, Part VI, Section A, Line 6 All consumers must apply for membership and pay a ten ($10) membership fee before receiving electric service. Membership entitles the owner to one vote. No one person may have more than one vote. Form 990, Part VI, Section A, Line 7a Members elect the Board of Directors (seven board members) at the annual meeting. Each board member serves a three year term with no limits on the number of terms they may serve. Form 990, Part VI, Section A, Line 7b The Cooperative membership must approve the following decisions as a governing body: (1) The election of directors; (2) The removal of directors or an officer; (3) membership in other organizations other than nonprofits that support rural electrification; and (4) the sale, mortgage, or lease of useful property and facilities with a value in excess of ten percent (10 percent) of the value of the total Cooperative property. Form 990, Part VI, Section B, Line 11b A draft copy of the IRS Form 990 and appropriate schedules is provided to each director. It is then reviewed at the PHEC Board of Directors meeting prior to filing the form 990. Upon approval of the Form 990 and schedules by the Board, the Form 990 is electronically filed. Form 990, Part VI, Section B, Line 12c The General Manager and/or the Accounting Manager approves/prepares all vendor applications with procedures in place to help identify possible conflicts of interest. All vendor invoices are reviewed by the managers. Annual Conflict of Interest policies are completed and reviewed by appropriate personnel. Form 990, Part VI, Section B, Line 15 The PHEC Board of Directors review and approve compensation for the General Manager using the same guidelines the General Manager uses to determine salaries and wages for all other employees. The decision regarding the General manager's compensation arrangement is recorded in the minutes of the board meeting. The General Manager uses published wage and salary reports provided to electric cooperatives from a national source to help in determination of wages and salaries. In addition, compensation is based on internal job descriptions and job performance evaluations. Form 990, Part VI, Section C, Line 18 The Form 990 and Schedules, abbreviated financial reports and other policies are made available upon request and may be viewed at the Cooperative. Form 990, Part VI, Section C, Line 19 Each member is given a copy of the Cooperative Bylaws when they make application for service. An abbreviated calendar year end financial statement is provided to all members attending the annual meeting. Other reports and policies are available upon request and may be viewed at the Cooperative. Form 990, Part IX, Line 11g Independent Contractors for Distribution Expenses $2,675,555; Independent Contractors for Capitalized Costs $5,443,046; Engineering Services $6,238; Property Tax Consulting $5,021; Job Safety Training/Legal Fees Related to Incident $40,609;Outage/Communication Services $120,411. Form 990, Part XI, Line 9 Increase in Memberships: $465. Decrease in amount recognized as periodic post benefit cost for postretirement healthcare benefits: ($149,713). Membership patronage allocation for 2023: ($2,777,560). Capital Credit Retirements: $0.