2015-05-12T18:55:05-07:00 2014-12-31 ALAN ZUMSTEIN 1032 CHETFORD DRIVE LEXINGTON KY 40509 990 2014-01-01 610329022 Salt River Electric Cooperative SALT 5023483931 PO Box 609 Bardstown KY 40004 Timothy J Sharp President & CEO 2015-05-12 true Alan Zumstein P00641130 8592647147 X 2014 2016-03-07 17:11:31Z 114698387 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 78 125419 86002 0 102968902 106718935 653471 974395 7982899 6983606 111605272 114676936 0 9423154 9163426 7915812 7547010 0 0 94266306 97966500 111605272 114676936 0 152762911 158341057 76736012 75922977 76026899 82418080 Distribution sales of electricity on a patronage basis to an average of approximately 49,000 consumers monthly. false false 105513510 Provide distribution sales of electricity to an average of approximately 49,000 consumers monthly on a patronage basis. 105513510 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 24 0 true 78 true true true false false false false false false false 106718935 1991859 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 20054 0 0 Garry Mann Director 7.00 0.00 X 19300 0 0 Darrell Tingle Director 5.00 0.00 X 16500 0 0 Gayle Troutman Treasurer 5.00 0.00 X X 23300 0 0 Albert Cahoe Vice Chairman 8.00 0.00 X X 21454 0 0 Linda West Secretary 5.00 0.00 X X 15143 0 0 J Larry Hicks President & CEO 40.00 0.00 X 269286 0 57104 Tim Sharp VP of Operations 40.00 0.00 X 152254 0 31441 J Edward Boone VP Finance & CFO 40.00 0.00 X 116837 0 30179 Gary Pile Staff Engineer 40.00 0.00 X 112803 0 29301 Randy Burba VP Customer Svc 40.00 0.00 X 119470 0 29712 Nicky Rapier VP, Business Devel 40.00 0.00 X 118405 0 23138 Don Crigler Bullitt Dist Super 40.00 0.00 X 102201 0 24306 Brad Clements Lineman 55.00 0.00 X 100863 0 22706 1207870 247887 8 false true false 0 0 Electric merchandise 221000 105252 105252 Electric service 221000 106613683 106613683 106718935 974395 974395 0 0 16912 21451 -4539 -4539 -4539 0 0 0 0 G&T capital credits 221000 5840723 5840723 Joint use pole rentals 221000 623156 623156 Pat capital credits 221000 257821 257821 266445 125419 141026 6988145 114676936 106718935 125419 7832582 0 0 0 9163426 9163426 654128 654128 0 3786484 3786484 1597935 1597935 1078195 1078195 430268 430268 0 46593 46593 11600 11600 0 0 0 0 0 0 0 0 0 0 0 61090 61090 2304194 2304194 0 5695018 5695018 0 Cost of power 86580590 86580590 Administrative and general 2967538 2967538 Distribution - operations 2792244 2792244 Distribution - maintenance 2612080 2612080 -5104447 -5104447 114676936 114676936 0 0 1548555 1861239 15359506 15200987 0 12255951 11857802 0 0 3545331 2122202 685778 624386 329077 288651 145790695 68676598 75138734 77114097 0 0 42489128 48361257 0 1410851 910436 152762911 158341057 9148078 8467887 62106678 62165384 5481256 5289706 76736012 75922977 X 1971515 2039040 -4780025 -5616102 78835409 85995142 76026899 82418080 152762911 158341057 X 0 6391181 X false true X true true true 145790695 68676598 77114097 77114097 48361257 Accrued expenses 1391007 Accumulated postretirement benefits 928545 Consumer advances for construction 370716 Consumer deposits 2599438 5289706 114676936 114676936 114676936 114676936 114676936 114676936 X X X X false false false J Larry Hicks President & CEO 269286 17500 39604 326390 Tim Sharp VP of Operations 152254 31441 183695 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 Town & Country Bank CEO is Director Some banking functions 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 = -$836077 Other Changes In Net Assets Or Fund Balances - Other Increases Margins allocated to members = $9163426 Other Changes In Net Assets Or Fund Balances - Other Increases Memberships issued = $67525 Other Changes In Net Assets Or Fund Balances - Other Increases Other equities = $289021 Other Changes In Net Assets Or Fund Balances - Other Decreases Refunds of capital credits = -$2292714 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 257103 103174 false true 0.50000 false false false false false false false false false false false false false false false false false false false