2017-05-02T16:23:02-07:00 2016-12-31 ALAN ZUMSTEIN 1032 CHETFORD DRIVE LEXINGTON KY 40509 990 2016-01-01 610329022 Salt River Electric Cooperative SALT 5023483931 PO Box 609 Bardstown KY 40004 Timothy J Sharp President & CEO 2017-05-02 true Alan Zumstein P00641130 8592647147 X 2016 2021-01-29 14:40:06Z 112401144 false false X www.srelectric.com X 1936 KY Distribution sales of electricity on a patronage basis to an average of approximately 49,000 consumers monthly. 6 6 77 130794 211981 0 100474700 101798572 633212 756742 6578884 9833621 107686796 112388935 0 7796863 11999063 7760919 8591368 0 0 92129014 91798504 107686796 112388935 0 163001923 176192548 76823266 78078219 86178657 98114329 Distribution sales of electricity on a patronage basis to an average of approximately 49,000 consumers monthly. false false 100389872 Provide distribution sales of electricity to an average of approximately 49,000 consumers monthly on a patronage basis. 100389872 false 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 false false true false false false false true 26 0 true 77 true true true false false false false false false false 101798572 5139850 false false false X 6 6 false false false false true true true true true false false true true true true false true true true false X J Edward Boone VP Finance 5023483931 PO Box 609 Bardstown KY 40004 Jimmie Longmire Chairman 5.00 0.00 X X 19607 0 0 Garry Mann Director 10.00 0.00 X 20400 0 0 Darrell Tingle Director 5.00 0.00 X 16600 0 0 Gayle Troutman Treasurer 5.00 0.00 X X 22600 0 0 Albert Cahoe Vice Chairman 9.00 0.00 X X 21207 0 0 Linda West Secretary 5.00 0.00 X X 15668 0 0 Tim Sharp President & CEO 40.00 0.00 X 207798 0 38699 J Edward Boone VP Finance & CFO 40.00 0.00 X 124313 0 30292 Gary Pile Staff Engineer 40.00 0.00 X 120743 0 28941 Randy Burba VP Customer Svc 40.00 0.00 X 125428 0 18337 Nicky Rapier VP, Business Devel 40.00 0.00 X 127313 0 24437 Wes Collins Engineer 40.00 0.00 X 108565 0 28755 Brad Clements 40.00 0.00 X 110684 0 23645 1040926 193106 10 false true false 0 0 Electric merchandise 221000 161040 161040 Electric service 221000 101637532 101637532 101798572 756742 756742 0 0 13900 12209 1691 1691 1691 0 0 0 0 G&T capital credits 221000 5450513 5450513 Joint use pole rentals 221000 1196575 1196575 Sale of genral plant 221000 2610152 2610152 574690 130794 443896 9831930 112388935 101798572 130794 10459569 0 0 0 11999063 11999063 448193 448193 0 4888871 4888871 1603333 1603333 1225377 1225377 425594 425594 0 27141 27141 14600 14600 0 0 0 0 0 0 0 0 0 0 0 72738 72738 2187521 2187521 0 6082634 6082634 0 Cost of power 81187942 81187942 Administrative and general 3162955 3162955 Distribution - maintenance 2756716 2756716 Distribution - operations 2684806 2684806 -6378549 -6378549 112388935 112388935 0 0 1437539 1250781 19541327 28092853 0 9277730 10476557 0 0 1898500 619508 673255 900675 408588 137230 151281286 77947264 75899621 73334022 0 0 53617001 59125503 0 248362 2255419 163001923 176192548 7348261 8952855 64226428 64045725 5248577 5079639 76823266 78078219 X 2107765 2177965 -7615267 -5584369 91686159 101520733 86178657 98114329 163001923 176192548 X 0 11935672 X false true X true true true 151281286 77947264 73334022 73334022 59125503 Accrued expenses 1017920 Accumulated postretirement benefits 903096 Consumer advances for construction 395792 Consumer deposits 2762831 5079639 112388935 112388935 112388935 112388935 112388935 112388935 X X X X false false false J Edward Boone VP Finance & CFO 124313 30292 154605 Nicky Rapier VP, Business Devel 127313 24437 151750 Tim Sharp President & CEO 207798 38699 246497 Lock 7 Hydro Partners CEO is a Board member Keep financial records. false Lock 7 Hydro Partners CFO is Sec/Treasurer Keep financial records. false Lock 7 Hydro Partners Director Director West as director false Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Must be a member to receive electric service. Each members has 1 vote. May have more than 1 service per membership. Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body Nominating committee meets every year there is an election to select member to run for director. Member may run for director with petition signed by 100 or more eligible members. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders The By-Laws may be amended by a majority vote of the Board of Directors at any regular or special meeting. Form 990, Part VI, Line 11b: Form 990 Review Process Directors are furnished a draft copy of the 990 prior to filing. May make inquiries of information contained in the filing. Additionally, if requested, directors meet with the independent auditor in a closed session and are able to ask question at that time. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Salt River has a Board Policy addressing conflicts of interest. This is reviewed on an annual basis. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees 15.a and b. The Board receives data from both local and national surveys. The Board uses this data, along with a performance review, to set compensation. The Board has used, and occassionally does, use an independent Human Resource Consulting firm to review the compensation and process. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available ByLaws are given to each member. Each year financial statemenets are given to members and an annual meeting of members is held. Other Changes In Net Assets Or Fund Balances - Other Decreases = -$0 Other Changes In Net Assets Or Fund Balances - Other Increases Accumulated comprehensive income = $2030898 Other Changes In Net Assets Or Fund Balances - Other Increases Margins allocated to members = $11999063 Other Changes In Net Assets Or Fund Balances - Other Increases Memberships issued = $70200 Other Changes In Net Assets Or Fund Balances - Other Increases Other equities = $315149 Other Changes In Net Assets Or Fund Balances - Other Decreases Refunds of capital credits = -$2479638 Form 990, Part IX, Line 4 - Benefits paid to or for members Represents patronage capital credits allocated to members in accordance with the bylaws of the Cooperative. This reporting results in a difference between book income and income reported on the Form 990 by the same amount. Lock 7 Hydro Partners LLC PO Box 609 Bardstown KY 40004 421671910 Hydro elect KY N/A false true 0.50000 false false false false false false false false false false false false false false false false false false false