2016-05-07T05:33:07-07:00 2015-12-31 ALAN ZUMSTEIN 1032 CHETFORD DRIVE LEXINGTON KY 40509 990 2015-01-01 610329022 Salt River Electric Cooperative SALT 5023483931 PO Box 609 Bardstown KY 40004 Timothy J Sharp President & CEO 2016-05-07 true Alan Zumstein P00641130 8592647147 X 2015 2016-09-27 15:27:22Z 107707726 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 73 130018 160246 0 106718935 100474700 974395 633212 6983606 6578884 114676936 107686796 0 9163426 7796863 7547010 7760919 0 0 97966500 92129014 114676936 107686796 0 158341057 163001923 75922977 76823266 82418080 86178657 Distribution sales of electricity on a patronage basis to an average of approximately 49,000 consumers monthly. false false 99889933 Provide distribution sales of electricity to an average of approximately 49,000 consumers monthly on a patronage basis. 99889933 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 25 0 true 73 true true true false false false false false false false 100474700 1874345 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 20754 0 0 Garry Mann Director 9.00 0.00 X 20600 0 0 Darrell Tingle Director 5.00 0.00 X 17200 0 0 Gayle Troutman Treasurer 5.00 0.00 X X 22800 0 0 Albert Cahoe Vice Chairman 7.00 0.00 X X 20354 0 0 Linda West Secretary 5.00 0.00 X X 14843 0 0 J Larry Hicks President & CEO 40.00 0.00 X 182747 0 30771 Tim Sharp President/CEO 40.00 0.00 X 180021 0 35163 J Edward Boone VP Finance & CFO 40.00 0.00 X 117459 0 29532 Gary Pile Staff Engineer 40.00 0.00 X 115804 0 28899 Randy Burba VP Customer Svc 40.00 0.00 X 118844 0 17688 Nicky Rapier VP, Business Devel 40.00 0.00 X 119625 0 23775 Don Crigler Bullitt Dist Super 40.00 0.00 X 102816 0 22722 1053867 188550 7 false true false 0 0 Electric merchandise 221000 125957 125957 Electric service 221000 100348743 100348743 100474700 633212 633212 0 0 6000 20930 -14930 -14930 -14930 0 0 0 0 Capital credits allocated 221000 263697 263697 G&T capital credits 221000 5337751 5337751 Joint use pole rentals 221000 639371 639371 352995 130018 222977 6593814 107686796 100474700 130018 7082078 0 0 0 7796863 7796863 596778 596778 0 3968883 3968883 1603454 1603454 1170268 1170268 421536 421536 0 27836 27836 17175 17175 0 0 0 0 0 0 0 0 0 0 0 56300 56300 2210496 2210496 0 5915907 5915907 0 Cost of power 80649188 80649188 Administrative and general 3187981 3187981 Distribution - maintenance 2849297 2849297 Distribution - operations 2619206 2619206 -5404372 -5404372 107686796 107686796 0 0 1861239 1437539 15200987 19541327 0 11857802 9277730 0 0 2122202 1898500 624386 673255 288651 408588 149808806 73909185 77114097 75899621 0 0 48361257 53617001 0 910436 248362 158341057 163001923 8467887 7348261 62165384 64226428 5289706 5248577 75922977 76823266 X 2039040 2107765 -5616102 -7615267 85995142 91686159 82418080 86178657 158341057 163001923 X 0 3760577 X false true X true true true 149808806 73909185 75899621 75899621 53617001 Accrued expenses 813581 Accumulated postretirement benefits 1462026 Consumer advances for construction 369966 Consumer deposits 2603003 Rounding 1 5248577 107686796 107686796 107686796 107686796 107686796 107686796 X X X X false false false J Larry Hicks President & CEO 182747 30771 213518 Tim Sharp President/CEO 180021 35163 215184 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 Comprehensive income post benefits = -$1999165 Other Changes In Net Assets Or Fund Balances - Other Increases Margins allocated to members = $7796863 Other Changes In Net Assets Or Fund Balances - Other Increases Memberships issued = $68725 Other Changes In Net Assets Or Fund Balances - Other Increases Other equities = $279359 Other Changes In Net Assets Or Fund Balances - Other Decreases Refunds of capital credits = -$2385205 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 297278 123306 false true 0.50000 false false false false false false false false false false false false false false false false false false false