2013-11-12T08:03:32-06:00 2012-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2012-01-01 460225950 WEST CENTRAL ELECTRIC COOPERATIVE INC WEST 6056692472 PO BOX 17 MURDO SD 575590017 STEVEN J REED 6056692472 2013-11-04 1 LAURIE HANSON P00851848 6053391999 2013-11-04 2012 2016-02-24 21:20:13Z STEVEN J REED PO BOX 17 MURDO SD 575590017 13671814 0 X HTTP://WWW.WCE.COOP X 1949 SD TO PROVIDE ELECTRICITY TO RURAL AREAS. 10 10 37 0 5747 4447 0 0 12678723 13353313 234346 277250 26430 18498 12939499 13649061 11000 11000 309996 459358 3006620 3018102 0 0 0 9329417 9821059 12657033 13309519 282466 339542 44021636 44706048 30681089 30834820 13340547 13871228 NONE 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,629 MEMBERS AND ADDED/REPLACED 14 MILES OF LINES. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 37 1 1 1 0 0 0 0 13796790 304736 0 X 10 10 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X STEVEN J REED 6056692472 PO BOX 17 MURDO SD 57559 X CHARLES OLLER 6.00 X X 9960 0 0 CHARLES KROETCH 5.00 X X 11880 0 0 MIKE MCQUISTION 12.00 X X 11880 0 0 DAVID GEISLER 12.00 X 12890 0 0 JOE LEUTENEGGER 9.00 X 12600 0 0 DAVID J MERTENS 11.00 X 13560 0 0 SHAD RIGGLE 8.00 X 11400 0 0 JIM WILLERT 7.00 X 11160 0 0 MARTY HANSEN 8.00 X 12360 0 0 KENNETH MILLER 8.00 X 12840 0 0 STEVEN J REED 50.00 X 192961 0 80254 JEFF BIRKELAND 50.00 X 102158 0 47988 DEAN NELSON 50.00 X 115595 0 53099 531244 0 181341 3 0 1 0 HDR ENGINEERING PO BOX 3480 OMAHA NE 681030480 ENGINEERING SERVICES 139961 1 SALE OF POWER 221000 12807252 12807252 CAPITAL CREDITS 221000 334400 334400 OTHER OPERATING 221000 177583 177583 OTHER NON-OPERATING 900099 34078 34078 13353313 244683 244683 44940 12373 32567 32567 32567 28878 10380 18498 12751 5747 13649061 13366064 5747 277250 11000 459358 519789 1888263 490400 119650 836729 1289373 COST OF POWER 6749938 ADMIN & GENERAL 1394137 DISTRIBUTION-OPERATIONS 1002599 DISTRIBUTION-MAINTENANC 586206 -2037923 13309519 10494100 9398574 810653 1278048 4965 1408 167052 144157 1196770 1247077 60814 85109 47204404 20038988 26171696 27165416 94596 113579 5020990 5272680 44021636 44706048 1733160 1774641 19128260 19613836 345310 345310 9474359 9101033 30681089 30834820 X 0 0 0 0 13340547 13871228 13340547 13871228 44021636 44706048 X 339542 191139 X 0 1 X 0 0 85313 85313 1080173 622540 457633 44477653 19416448 25061205 1561265 1561265 27165416 RUSHMORE ELECTRIC POWER COOPERATIVE 4590758 C BASIN ELECTRIC POWER COOPERATIVE 100 C RURAL ELECTRIC SUPPLY COOPERATIVE 13597 C FEDERATED RURAL ELECTRIC INSURANCE CORPORATION 160390 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 507835 C 5272680 CUSTOMER DEPOSITS 8451033 DEFERRED CREDITS 650000 9101033 X 13596942 -52120 -52120 13649062 0 13649062 12798042 0 12798042 511478 511478 13309520 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. GENERALLY, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL OR STATE TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: EXPENSES NETTED TO REVENUE FOR GAAP -52,120. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2012 MARGINS TO MEMBERS IN 2013 459,358. EXPENSES NETTED TO REVENUE FOR GAAP 52,120. 1 SCHOLARSHIPS 22 11000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE GRANTS/ASSISTANCE ARE IN THE FORM OF SCHOLARSHIPS. THE PROCESS FOR MONITORING THEM INCLUDE APPROVAL THROUGH THE BUDGET PROCESS BY THE BOARD. THE BOARD IS INFORMED OF THE SCHOLARSHIP WINNERS AND THE AMOUNT GIVEN EACH YEAR. X X X 0 0 0 STEVEN J REED 156824 0 2400 0 33737 0 59540 0 20714 0 273215 0 0 0 JEFF BIRKELAND 87555 0 2400 0 12203 0 34162 0 13826 0 150146 0 0 0 DEAN NELSON 103382 0 2400 0 9813 0 36264 0 16835 0 168694 0 0 0 STEVEN J REED CEO HEAT PUMP LOAN X 7606 1408 0 1 0 1408 FORM 990, PART VI, SECTION A, LINE 6 CLASS A MEMBERS - ALL MEMBERS WITH LESS THAN A 2 MW LOAD. CLASS B MEMBERS - MEMBERS HAVING A LOAD EQUAL TO OR GREATER THAN 2 MW. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS ONE VOTE FOR ELECTION OF BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON BYLAW CHANGES. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES MEET AND REPORT TO THE BOARD. THE ENTIRE BOARD ACTS AS A WHOLE. A COMMITTEE CAN NOT TAKE ACTION BY ITSELF. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD WILL REVIEW THE FORM 990 AT A BOARD MEETING PRIOR TO FILING THE 990. BOARD MEMBERS WILL BE GIVEN A COPY OF THE 990 AT THAT TIME. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS AND STAFF ARE COVERED UNDER THE CONFLICT OF INTEREST POLICY. EITHER MANAGEMENT OR THE BOARD CAN DETERMINE IF THERE IS A CONFLICT OF INTEREST. CONFLICTS ARE REVIEWED AT THE CEO AND BOARD LEVEL. THE RESTRICTIONS ARE IMPOSED ON A CASE BY CASE BASIS AND WILL REMOVE THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD USES NRECA COMPENSATION STUDY AND SDREA WAGE AND SALARY SURVEY TO SET THE CEO'S COMPENSATION. CEO USES NRECA COMPENSATION STUDY AND SDREA WAGE AND SALARY SURVEY TO SET STAFF AND INSIDE EMPLOYEES' WAGES. THIS PROCESS IS DONE BI-ANNUALLY AND WAS LAST UNDERTAKEN IN 2011. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO OUR "MEMBERS". ALL THOSE DOCUMENTS CAN BE VIEWED AT THE COOPERATIVE HEADQUARTERS IN MURDO. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER/CEO, OPERATIONS MANAGER AND MANAGER OF FINANCE. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN OTHER EQUITIES 15,031. RETIREMENT OF CAPITAL CREDITS -283,253. ALLOCATION OF 2012 MARGINS TO MEMBERS IN 2013 459,361. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 6-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BY-LAWS OF THE COOPERATIVE.