2011-08-12T13:39:52-05:00 2010-12-31 JACKSON THORNTON & CO PC P O BOX 96 MONTGOMERY AL 361010096 990 2010-01-01 630193841 SOUTH ALABAMA ELECTRIC COOPERATIVE SOUT 3345662060 PO BOX 449 TROY AL 36081 MAX I DAVIS 3345662060 2011-08-05 1 PATRICK COOPER 3348347660 2011-08-05 2010 2016-02-24 21:20:13Z LEO WILLIAMS PO BOX 449 TROY AL 36081 41865400 0 X WWW.SOUTHAEC.COM X 1937 AL TO PROVIDE ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS. 8 8 53 0 0 0 0 0 38574433 40811417 344496 492153 512762 561830 39431691 41865400 0 0 0 0 338945 362762 0 0 0 36489776 36722486 36828721 37085248 2602970 4780152 85360431 92779081 51811785 54272067 33548646 38507014 TO PROVIDE ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS. 0 0 UTILIZING APPROXIMATELY 2,623 MILES OF DISTRIBUTION LINES, SOUTH ALABAMA ELECTRIC COOPERATIVE PROVIDED 327,692,512 KILOWATT-HOURS OF ELECTRIC ENERGY TO ITS MEMBERS. 0 0 0 0 0 0 0 0 1 0 1 0 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 0 0 0 0 1 16 0 1 53 1 0 0 0 0 0 39741312 1869388 0 X 8 8 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X MAX I DAVIS 3345662060 13192 HWY 231 SOUTH TROY AL 36081 X JRS 4.00 X 21558 0 0 LHW 6.00 X 26988 0 0 NDG 7.00 X 27350 0 0 JHM 7.00 X 14480 0 0 WOH 6.00 X 26264 0 0 CBN 6.00 X 26626 0 0 CGR 5.00 X 12308 0 0 DK 7.00 X 26988 0 0 MID 57.00 X 164258 0 15942 OHN 59.00 X 103264 0 6459 MRM 55.00 X 111138 0 14959 561222 0 37360 3 0 1 0 JACKSON LINE CLEARING PO BOX 769 BOWDON GA 30108 RIGHT OF WAY CLEARING 942272 MUSGROVE CONTRUCTION INC 8708 US HIGHWAY 90 LIVE OAK FL 32060 DISTRIBUTION LINE CONSTRUCTION 254278 TRU-CHECK METER READERS PO BOX 1515 SOMERSET KY 42502 READ METERS 217288 ASPLUNDH TREE SERVICE PO BOX 532729 ATLANTA GA 30353 RIGHT OF WAY CLEARING 103976 4 SALES OF ELECTRICITY 221000 39741312 39741312 PATRONAGE CAPITAL 221000 1070105 1070105 40811417 492153 492153 254700 254700 254700 254700 CONTRACT INCOME - GROS 221000 280904 280904 NON-OPERATING INCOME 221000 26226 26226 307130 41865400 41118547 0 746853 362762 2134079 2034050 COST OF POWER 25828748 DIST EXP - MAINTENANCE 1936758 CONSUMER ACCOUNTS EXP 1450491 ADMIN & GEN EXPENSE 1345175 DIST EXP - OPERATION 1230211 762974 37085248 1330501 967223 9878447 9380620 5527428 5467492 211030 231900 132140 2101447 69771406 10998110 54268670 58773296 11197262 13217096 2814953 2640007 85360431 92779081 3732431 4379766 1022658 821697 43630878 47688838 3425818 1381766 51811785 54272067 X 73622 74947 0 0 33475024 38432067 33548646 38507014 85360431 92779081 X 4780152 178216 X X 0 0 0 106014 106014 834101 418483 415618 68831291 10579627 58251664 58773296 PATRONAGE CAPITAL - POWERSOUTH ENERGY COOPERATIVE 8789220 C PATRONAGE CAPITAL - UNITED UTILITY 3472 C PATRONAGE CAPITAL - NRUCFC 167197 C PATRONAGE CAPITAL - GRESCO UTILITY SUPPLY 57248 C PATRONAGE CAPITAL - COBANK 240411 C CAPITAL TERM CERTIFICATES - CFC 681237 C OTHER INVESTMENTS IN ASSOCIATED ORGANIZATION - PATRONAGE CAPITAL 10373 C INVESTMENTS IN ECONOMIC DEVELOPMENT PROJECTS 1931648 C FORT RUCKER ECM 1084948 C ERC LOAN 251342 C 13217096 OTHER ACCUMULATED OPERATING PROVISIONS 100161 CONSUMER DEPOSITS 634798 ACCUMULATED PROVISION FOR PENSIONS 646807 1381766 X X X 0 0 0 MID 153566 0 2995 0 7697 0 3072 0 12870 0 180200 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 SOUTH ALABAMA ELECTRIC COOPERATIVE OPERATES ON THE COOPERATIVE BASIS HAVING MEMBERS WITH EQUAL VOTING RIGHTS AND ARE ASSIGNED MARGINS IN ACCORDANCE WITH THE COOPERATIVE'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF SOUTH ALABAMA ELECTRIC COOPERATIVE MAY ELECT THE MEMBERS OF ITS GOVERNING BODY AT ITS ANNUAL MEETING PROVIDED THAT A QUORUM IS PRESENT. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP MUST APPROVE DECISIONS THAT INVOLVE SUBSTANTIAL TRANSFERS OF COOPERATIVE ASSETS, AMENDMENTS TO THE COOPERATIVE'S BYLAWS, AS WELL AS OTHER DECISIONS REQUIRING APPROVAL OF THE MEMBERSHIP BY LAW, THE ARTICLES OF INCORPORATION, AND/OR THE COOPERATIVE'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 8B THERE IS NO COMMITTEE WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS REVIEWED BY MANAGEMENT BEFORE IT WAS PRESENTED TO THE BOARD. A MEMBER OF MANAGEMENT ATTENDED THE JULY 2011 BOARD MEETING AND CONDUCTED A FORMAL REVIEW OF THE FORM 990 WITH THE TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND TRUSTEES ARE REQUIRED TO DISCLOSE ANNUALLY ANY CONFLICTS OF INTEREST ON A QUESTIONNAIRE. FORM 990, PART VI, SECTION B, LINE 15 THE GENERAL MANAGER REVIEWS THE COMPLETE WAGE AND SALARY FOR ALL EMPLOYEES, WHICH THE BOARD APPROVES. THEN, THE BOARD REVIEWS THE GENERAL MANAGER'S COMPENSATION PACKAGE AND APPROVES OR CHANGES THE PLAN FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT ITS MAIN OFFICE IN TROY, ALABAMA. FORM 990, PART VII SOUTH ALABAMA ELECTRIC COOPERATIVE IS CONCERNED WITH THE PRIVACY ISSUES OF ITS EMPLOYEES AND TRUSTEES. WITH THIS CONCERN, THE COOPERATIVE HAS CHOSEN TO REPORT THE TRUSTEES' AND EMPLOYEES' INITIALS, RATHER THAN THEIR FULL NAMES. THE FULL NAMES WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: INCREASE IN MEMBERSHIPS 1,325. RETIREMENT OF CAPITAL CREDITS -250,000. GAIN ON RETIREMENT OF CAPITAL CREDITS 61,080. INCREASE IN DONATED CAPITAL 300,000. UTILITY TAX REFUNDS 57,265. RETIRED CAPITAL CREDITS - HOLDING 8,546. TOTAL TO FORM 990, PART XI, LINE 5: 178,216. FORM 990, PART XII, LINE 2 SOUTH ALABAMA ELECTRIC COOPERATIVE'S FINANCIAL STATEMENT YEAR END DIFFERS FROM ITS TAX YEAR END. THE COOPERATIVE RECEIVES AUDITED FINANCIAL STATEMENTS ON AN ANNUAL BASIS FOR THE YEAR ENDED MARCH 31ST.