2024-10-22T14:00:26-05:00 2023-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2023-01-01 750619960 TRI-COUNTY ELECTRIC COOPERATIVE INC TRI- 8174443201 200 BAILEY RANCH ROAD ALEDO TX 76008 SCOTT SPENCE PRESIDENT & CHIEF EXECUTIVE OFFICER 8174443201 2024-10-21 1 0 EMINA O CRESSWELL CPA P01217304 5097472600 2024-10-21 2023 2024-10-15 13:58:12Z SCOTT SPENCE 200 BAILEY RANCH ROAD ALEDO TX 76008 454058980 0 X WWW.TCECTEXAS.COM X 1939 TX TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 8 8 344 0 38839 37339 0 0 433599893 447490720 1299894 924051 789372 5591761 435689159 454006532 182768 41873 10535255 14098246 23517902 2966956 0 0 0 401104360 437148065 435340285 454255140 348874 -248608 1361410167 1454349365 939007695 1014877964 422402472 439471401 THE COOPERATIVE'S RESPONSIBILITY AND AIM IS TO PROVIDE EXCELLENT AND INNOVATIVE CUSTOMER SERVICE AS REFLECTED IN TOP QUALITY ELECTRIC SERVICE RELIABILITY, AFFORDABLE RATES, EMPLOYEE TEAMWORK AND THE HIGHEST DEGREE OF INTEGRITY IN ALL COOPERATIVE ENDEAVORS. 0 0 TO PROVIDE TO OUR MEMBERS - 137,184 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL. 0 0 0 0 0 0 0 0 0 1 0 1 1 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 1 1 1 0 1 79 0 1 344 1 1 1 0 0 0 0 453533825 3574270 0 0 0 X 8 8 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X DUSTIN TIDBALL 8174443201 200 BAILEY RANCH ROAD ALEDO TX 76008 STEVE HARRIS DIRECTOR 4.80 X 50500 0 0 KEVIN INGLE DIRECTOR 5.00 X 42000 0 0 JOHN KILLOUGH VICE-CHAIRMAN 5.40 X X 41400 0 0 MARGARET KOPREK SECRETARY/TREASURER 13.20 X X 43200 0 0 SOMMER PORTWOOD DIRECTOR 10.00 X 47400 0 0 MICHAEL SIVERTSEN DIRECTOR 17.80 X 51000 0 0 MAX WADDELL BOARD CHAIRMAN 5.00 X X 44400 0 0 JERRY WALDEN DIRECTOR (THRU 12/23) 11.10 X 45600 0 0 JORDEN WOOD DIRECTOR (THRU 11/23) 5.80 X 45400 0 0 DARRYL SCHRIVER PRESIDENT & CEO (THRU 7/23) 60.00 X 624097 0 111620 MELISSA WATTS CFO & VP OF FINANCE 60.00 X 348928 0 109527 WESLEY SCHEETS COO & VP OF OPERATIONS 60.00 X 327740 0 269388 JANET REHBERG CSO & VP OF ENGINEERING 60.00 X 315740 0 54152 JENNIFER GOSS CTO & VP OF TECHNOLOGY (THRU 10/23) 45.00 X 247066 0 43281 LINDSEY GILLUM CRO & VP OF POWER SUPPLY 55.00 X 204717 0 35983 NICHOLE ESHBAUGH CTO/VP OF IT (THRU 1/23) 40.00 X 104740 0 3465 DUSTIN TIDBALL CONTROLLER & AVP OF FINANCE 50.00 X 289757 0 39953 ANDREA MCCLEESE AVP OF MEMBER SERVICES 55.00 X 225708 0 92047 JONATHAN DOUGLAS DIRECTOR OF IT & CYBERSECURITY 45.00 X 214480 0 49720 MELONY BLOCK AVP OF HUMAN RESOURCES 55.00 X 207664 0 33356 DAREN CURRY DIRECTOR OF ENGINEERING 43.00 X 203767 0 50943 3725304 0 893435 103 0 1 0 PARISH UTILITIES LLC 3001 COX RD MILLSAP TX 76066 CONSTRUCTION 8370727 HARDIN TREE INC PO BOX 310 OOLOGAH OK 74053 TREE TRIMMING 7216567 PRIMORIS T&D SERVICES LLC 1760 S STEMMONS FRWY 300 LEWISVILLE TX 75067 CONSTRUCTION 6740049 REVOLUTION POWER LLC 2471 ROLAND RD WHITESBORO TX 76273 CONSTRUCTION 4592960 AXIS POWER LLC 4B BAYOU BRANDT BEAUMONT TX 77706 CONSTRUCTION 4320346 18 ELECTRICITY SALES 221000 444582851 444582851 SERVICE FEE 221000 2034105 2034105 POLE RENTAL INCOME 221000 873764 873764 447490720 811141 811141 94277 10564 83713 83713 38839 44874 154794 41884 112910 112910 112910 PATRONAGE DIVIDENDS 221000 5210019 5210019 EQUITY IN SUBSIDIARY 221000 248608 248608 MISCELLANEOUS REVENUE 900099 49421 49421 5508048 454006532 452125004 38839 1842689 41873 14098246 2966956 43481509 23304626 PURCHASED POWER 311195239 DISTRIBUTION EXPENSE 31157629 GENERAL & ADMINISTRATIO 15445894 CUSTOMER ACCOUNTS 10547049 2016119 454255140 4457637 3460547 2600 2600 21109581 23835895 0 2235 738018 1481964 949134842 207731312 641218653 741403530 170546200 172115381 523337478 512047213 1361410167 1454349365 52600141 41726057 814469080 879744116 71938474 93407791 939007695 1014877964 X 2575948 2689298 0 0 419826524 436782103 422402472 439471401 1361410167 1454349365 X -248608 17317537 X 0 0 0 42152132 42152132 23514820 6110747 17404073 743364251 201620565 541743686 140103639 140103639 741403530 PATRONAGE CAPITAL - BRAZOS 137987729 C MEMBER CAPITAL SECURITIES - CFC 10000000 C PATRONAGE CAPITAL - TEC 7200416 C CAPITAL TERM CERTIFICATES - CFC 6589487 C PATRONAGE CAPITAL - CFC 5748668 C INVESTMENT IN SUBSIDIARY 4099042 C PATRONAGE CAPITAL - SEDC 210817 C PATRONAGE CAPITAL - FEDERATED RURAL 129973 C PATRONAGE CAPITAL - COBANK 124660 C PATRONAGE CAPITAL - CRC 11998 C PATRONAGE CAPITAL - NRTC 10296 C MEMBERSHIPS- NRUCFC 1000 C PATRONAGE CAPITAL - NISC 945 C MEMBERSHIPS - OTHER 300 C MEMBERSHIPS - TCE 50 C 172115381 REGULATORY ASSETS 475744170 OTHER ASSETS 1971630 ACCRUED UTILITY REVENUE 29787645 UNAMORTIZED DEBT EXPENSES & CLOSING FEES 4543768 512047213 UNBILLED POWER COST 65694862 PENSION AND BENEFIT PLAN PAYABLE 14324771 DEFERRED CREDITS - CONSTRUCTION 6881362 CONSUMER DEPOSITS 6506796 93407791 X X X 0 1 0 DARRYL SCHRIVER PRESIDENT & CEO (THRU 7/23) 624097 0 0 0 0 0 98237 0 13383 0 735717 0 0 0 WESLEY SCHEETS COO & VP OF OPERATIONS 299914 0 27826 0 0 0 253788 0 15600 0 597128 0 0 0 MELISSA WATTS CFO & VP OF FINANCE 318083 0 30845 0 0 0 87361 0 22166 0 458455 0 0 0 JANET REHBERG CSO & VP OF ENGINEERING 287914 0 27826 0 0 0 38552 0 15600 0 369892 0 0 0 DUSTIN TIDBALL CONTROLLER & AVP OF FINANCE 270344 0 19413 0 0 0 17787 0 22166 0 329710 0 0 0 ANDREA MCCLEESE AVP OF MEMBER SERVICES 205904 0 19804 0 0 0 84042 0 8005 0 317755 0 0 0 JENNIFER GOSS CTO & VP OF TECHNOLOGY (THRU 10/23) 247066 0 0 0 0 0 31718 0 11563 0 290347 0 0 0 JONATHAN DOUGLAS DIRECTOR OF IT & CYBERSECURITY 195079 0 19401 0 0 0 24534 0 25186 0 264200 0 0 0 DAREN CURRY DIRECTOR OF ENGINEERING 183738 0 20029 0 0 0 25757 0 25186 0 254710 0 0 0 MELONY BLOCK AVP OF HUMAN RESOURCES 188263 0 19401 0 0 0 25351 0 8005 0 241020 0 0 0 LINDSEY GILLUM CRO & VP OF POWER SUPPLY 187092 0 17625 0 0 0 22202 0 13781 0 240700 0 0 0 PART I, LINE 4B DARRYL SCHRIVER, MELISSA WATTS, NICHOLE ESHBAUGH, WESLEY SCHEETS, AND JANET REHBERG ARE PARTICIPANTS IN A 457(F) PLAN. THE COOPERATIVE WILL DEPOSIT $25,000 FOR EACH MEMBER INTO THE PLAN EACH YEAR BEGINNING IN 2021. THIS AMOUNT WILL BE DEPOSITED EACH YEAR THROUGH 2026. AS LONG AS THE INDIVIDUAL REMAINS EMPLOYED AS A SENIOR STAFF MEMBER THROUGH MAY 31, 2026, THEY WILL BE PAID A LUMP SUM PAYMENT FOR THE FULL AMOUNT. IF THE EMPLOYEE IS NO LONGER A SENIOR STAFF MEMBER THROUGH MAY 31, 2026, THE ENTIRE AMOUNT WILL BE FORFEITED BACK TO THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 4 ON JANUARY 1, 2023, THE COOPERATIVE APPROVED AN OVERALL TARIFF RATE INCREASE FOR THE BRAZOS FINANCING UTILITY PLAN RIDER. THIS RATE INCREASE WENT INTO EFFECT ON JANUARY 1, 2023. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS BY DISTRICT. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. THE DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING. THE DISCUSSION AND REVIEW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COOPERATIVE'S CONFLICTS OF INTEREST POLICY. THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD OF DIRECTORS AS SOON AS POSSIBLE. THE CONFLICTS OF INTEREST POLICY IS REVIEWED ON AN ANNUAL BASIS. IF ANY DISCLOSURE ARISES, THE PRESIDENT/CEO REVIEWS THE CONTRACT AND/OR PURCHASE PROCEDURES. ADDITIONALLY, THE PRESIDENT/CEO AND STAFF EVALUATE EMPLOYEE RELATIONSHIPS WITH VENDORS AND OTHER OUTSIDE ENTITIES FOR POSSIBLE CONFLICTS OF INTERESTS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY AND COMPARE COMPENSATION REPORTED ON OTHER COOPERATIVE IRS FORMS 990 WHEN DETERMINING THE COMPENSATION OF THE PRESIDENT/CEO. THE SURVEY SHOWS COMPARATIVE SALARIES FOR PRESIDENTS/CEOS FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN TEXAS AND THE NATION. THE PRESIDENT/CEO AND SENIOR STAFF USE AN INDEPENDENT CONSULTANT TO EVALUATE THE PAY STRUCTURE FOR THE COOPERATIVE. THE INDEPENDENT CONSULTANT USES A COMPENSATION SURVEY AND COMPARES COMPENSATION REPORTED ON OTHER COOPERATIVE IRS FORMS 990 WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED OOPERATIVES THROUGHOUT TEXAS AND THE NATION. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE AUDITED FINANCIAL STATEMENTS TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. THE COOPERATIVE WILL PROVIDE A COPY OF THE AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, OR GOVERNING DOCUMENTS TO ANY MEMBER WHO REQUESTS A COPY. ALL REQUESTS MUST BE MADE IN WRITING. FORM 990, PART XI, LINE 9: NET CHANGE IN MEMBERSHIP 113,349. PATRONAGE DIVIDEND CAPITAL 14,098,246. OTHER EQUITY CHANGES 3,105,942. VALUE CHOICE INC 200 BAILEY RANCH RD ALEDO TX 76008 752803811 TELECOMMUNICATIONS TX TRI-COUNTY ELECTRIC COOPERATIVE INC C 4099042 1.00000 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 VALUE CHOICE INC F 750000 CASH