2011-08-08T08:50:56-05:00 2010-12-31 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2010-01-01 460225950 WEST CENTRAL ELECTRIC COOPERATIVE INC WEST 6056692472 PO BOX 17 MURDO SD 575590017 STEVEN J REED 6056692472 2011-08-02 1 LAURIE HANSON 6053391999 2011-08-02 2010 2016-02-24 21:20:13Z STEVEN J REED PO BOX 17 MURDO SD 575590017 12727903 0 X HTTP://WWW.WCE.COOP X 1949 SD TO PROVIDE ELECTRICITY TO RURAL AREAS. 10 10 42 0 0 0 0 0 11403873 12404337 278271 315122 0 0 11682144 12719459 11000 11000 0 0 2753604 3019361 0 0 0 7831063 8959285 10595667 11989646 1086477 729813 33561345 34261345 20805857 21161249 12755488 13100096 NONE 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,650 MEMBERS AND ADDED/REPLACED 3 MILES OF LINES. 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 10 0 42 1 0 0 0 0 0 0 0 12160285 338574 0 X 10 10 0 0 1 0 1 1 0 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 3.00 X X 10100 0 0 CHARLES KROETCH 5.00 X X 10760 0 0 MIKE MCQUISTION 8.00 X X 10740 0 0 DAVID GEISLER 9.00 X 12780 0 0 JOE LEUTENEGGER 11.00 X 11700 0 0 DAVID J MERTENS 10.00 X 13020 0 0 SHAD RIGGLE 9.00 X 11460 0 0 JIM WILLERT 7.00 X 11180 0 0 MARTY HANSEN 8.00 X 12520 0 0 KENNETH MILLER 7.00 X 12360 0 0 STEVEN J REED 50.00 X 170953 0 62482 JEFF BIRKELAND 50.00 X 88927 0 41617 DEAN NELSON 50.00 X 110315 0 45655 486815 0 149754 2 0 1 0 HDR ENGINEERING PO BOX 3480 OMAHA NE 681030480 ENGINEERING SERVICES 145798 1 SALE OF POWER 221000 12160464 12160464 CAPITAL CREDITS 221000 243873 243873 12404337 323566 323566 8444 -8444 -8444 -8444 12719459 12404337 0 315122 11000 472547 1946611 435602 164601 826851 1458730 COST OF POWER 5641363 ADMIN & GENERAL 1354618 DISTRIBUTION-OPERATIONS 1117486 DISTRIBUTION-MAINTENANC 767008 ALLOCATED & OTHER -2206771 11989646 1971890 3400058 793714 885357 3506 363116 267149 1297528 1324781 80928 165581 43011660 19669249 21671956 23342411 381826 82698 7000387 4789804 33561345 34261345 1383728 1652072 16904049 17847512 435412 390310 2082668 1271355 20805857 21161249 X 0 0 0 0 12755488 13100096 12755488 13100096 33561345 34261345 X 729813 -385205 X 0 1 1 X 0 106564 106564 967797 568429 399368 39214890 19100820 20114070 2722409 2722409 23342411 INVESTMENTS IN ASSOCIATED COMPANIES 4789804 C 4789804 CUSTOMER DEPOSITS 135437 DEFERRED CREDITS 1135918 1271355 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COOPERATIVE AND ITS SUBSIDIARY ADOPTED THE PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION TOPIC ASC 740-10 (PREVIOUSLY FINANCIAL INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES), ON JANUARY 1, 2009. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE FINANCIAL STATEMENTS. AS OF BOTH THE DATE OF ADOPTION, AND AS OF DECEMBER 31, 2010, THERE WAS NO UNRECOGNIZED TAX ACCRUAL. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. GENERALLY, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL OR STATE TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2007. 1 SCHOLARSHIPS 22 11000 X X X 0 0 0 STEVEN J REED 146925 0 2400 0 21628 0 45076 0 17406 0 233435 0 0 0 DEAN NELSON 91751 0 2400 0 16164 0 30348 0 15306 0 155969 0 0 0 STEVEN J REED HEAT PUMP LOAN X 7606 3506 0 1 0 3506 FORM 990, PART VI, SECTION A, LINE 4 DURING 2010, THE BYLAWS WERE AMENDED AS FOLLOWS: 1. JOINT MEMBERSHIP: A HUSBAND AND WIFE WHO HAVE ONE METER HAVE ONE VOTE. A HUSBAND AND WIFE WITH TWO OR MORE METERS HAVE TWO VOTES. ALL OTHER MEMBERS HAVE ONE VOTE. EACH VOTE ENTITLES THE MEMBER TO PARTICIPATE IN THE ELECTION OF BOARD MEMBERS AND BYLAW CHANGES. 2. THE BOARD MAY BY RESOLUTION ESTABLISH MEMBERSHIP CLASSES BASED UPON A MEMBER'S USE, RECEIPT, OR PURCHASE OF ONE OR MORE SERVICES FROM THE COOPERATIVE AND THE COOPERATIVE MAY GROUP MEMBERS INTO SUCH CLASSES AND MAY DEFINE RIGHTS AND PRIVILEGES OF EACH CLASS. IN CLASSIFYING MEMBERS, A) NO MEMBER MAY BE A MEMBER OF MORE THAN ONE MEMBER CLASS; B) BASED UPON A MEMBER'S USE, RECEIPT OR PURCHASE OF ONE OR MORE SERVICES FROM THE COOPERATIVE, THE COOPERATIVE SHALL GROUP THE MEMBER IN DESCENDING ORDER OF PRIORITY AS A CLASS A MEMBER, CLASS B MEMBER, AND SO ON. DURING 2010, ONLY ONE MEMBERSHIP CLASS EXISTED. THE BYLAW AMENDMENT ALLOWS THE COOPERATIVE TO ESTABLISH ADDITIONAL MEMBERSHIP CLASSES IF NEEDED. 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 ONE MEMBER, ONE VOTE FOR ELECTION OF BOARD MEMBERS AND VOTING ON BYLAW CHANGES. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES MEET AND THEN REPORT TO THE BOARD. THE ENTIRE BOARD THEN 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 2010. 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 5: RETIREMENT OF CAPITAL CREDITS -424,704. CHANGES IN OTHER EQUITIES 30,632. SUBSIDIARY NET INCOME 8,867. TOTAL TO FORM 990, PART XI, LINE 5: -385,205. 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. WCENET INC PO BOX 17 MURDO SD 57559 911845686 INTERNET SERVICE SD C 8867 3352 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 WCENET INC R 309728 NET BOOK VALUE