2024-11-15T23:12:43-06:00 2023-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2023-01-01 751668526 RAYBURN COUNTRY ELECTRIC COOPERATIVE INC RAYB 4694022100 PO BOX 37 ROCKWALL TX 75087 STEPHANIE WEEKS CFO 4694022100 2024-11-15 1 0 WILLIAM M MILLER P00439459 8067473806 2024-11-15 X 2023 2024-10-15 13:58:12Z DAVID NAYLOR PO BOX 37 ROCKWALL TX 75087 683334064 0 X WWW.RAYBURNELECTRIC.COM X 1979 TX TO PROVIDE WHOLESALE POWER SUPPLY AND REGULATORY REPRESENTATION ON BEHALF OF ITS MEMBERS. 4 4 93 0 9600 8600 0 0 563264724 679419606 -320326 3589120 96779 -9730 563041177 682998996 34439 65679 13565907 17949261 10279687 13322802 0 0 0 539144452 651624149 563024485 682961891 16692 37105 607018715 1099492327 456412356 931025660 150606359 168466667 TO MAXIMIZE THE VALUE OF OUR MEMBERS' INVESTMENT WHILE MAINTAINING COMPETITIVE WHOLESALE POWER COSTS AS WE EXEMPLIFY INTEGRITY AND EXCELLENCE. 0 0 PROVIDING WHOLESALE ELECTRIC ENERGY TO 4 DISTRIBUTION COOPERATIVE MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 51 0 93 1 1 1 0 0 0 0 607282375 75406337 0 0 0 X 4 4 1 0 0 0 1 1 1 1 0 0 0 0 1 1 1 1 1 1 1 0 X STEPHANIE WEEKS CFO 4694022100 950 SIDS ROAD ROCKWALL TX 75032 X DAVID MCGINNIS CHAIRMAN 2.00 1.00 X X 10004 0 0 JEFF LANE SECRETARY/TREASURER 2.00 1.00 X X 7850 0 0 MARK STUBBS ALTERNATE DIRECTOR 2.00 X 7050 0 0 JOHN ED SHINPAUGH VICE CHAIRMAN 2.00 1.00 X X 6472 0 0 HOWARD TILLISON ALTERNATE DIRECTOR 2.00 X 5436 0 0 STEVE COLLIDA ALTERNATE DIRECTOR 2.00 X 3992 0 0 BILL SAMUELS ALTERNATE DIRECTOR 2.00 X 3929 0 0 PAUL KIRKLAND ALTERNATE DIRECTOR 2.00 X 3028 0 0 DAVID NAYLOR PRESIDENT/CHIEF EXECUTIVE 40.00 1.00 X 812748 0 84018 DAVID BRAUN CHIEF FINANCIAL OFFICER 40.00 1.00 X 439963 0 82152 STEPHEN GEIGER CHIEF OPERATING OFFICER 40.00 X 417887 0 82042 CHASE SNUFFER CHIEF INFORMATION OFFICER 40.00 X 416217 0 82042 CHRISTOPHER ANDERSON GENERAL COUNSEL 40.00 X 393393 0 82042 JOHNNY ALRID DIRECTOR OF INFO SECURITY 40.00 X 276344 0 73496 JENNIFER PULLIAM ASST. GENERAL COUNSEL 40.00 X 275373 0 74140 CHRISTIAN NAGLE DIRECTOR OF POWER SUPPLY 40.00 X 271997 0 73307 STEPHANIE WEEKS CONTROLLER 40.00 X 224816 0 66192 FRANK OWENS DIRECTOR OF COMPLIANCE 40.00 X 220057 0 65842 3796556 0 765273 52 0 1 0 REDDEN CONCRETE INC PO BOX 68 MELISSA TX 75454 CONSTRUCTION SERVICES 3153811 JRD TEXAS LLC (MASLONKA POWERLINE SERVI PO BOX 28840 SPOKANE WA 99228 CONSTRUCTION SERVICES 2864362 TRI-CON SERVICES INC PO BOX 472867 GARLAND TX 75047 CONSTRUCTION SERVICES 2721318 PULLIAM CONSTRUCTION MANAGEMENT INC PO BOX 1132 WYLIE TX 75098 CONSTRUCTION SERVICES 2402907 R-DELTA ENGINEERS INC 618 MAIN STREET GARLAND TX 75040 ENGINEERING SERVICES 2274570 27 X SALES OF ELECTRICITY 221000 677918468 677918468 PATRONAGE DIVIDENDS 221000 888619 888619 OTHER PROGRAM REVENUE 221000 612519 612519 679419606 3585067 3585067 9600 0 9600 9600 9600 339121 335068 4053 4053 4053 OTHER PASS-THROUGH INVESTMENT 523000 -19330 -19330 -19330 682998996 679404329 9600 3585067 X 65679 17949261 2940265 6912449 804188 2017717 648183 44719392 30667838 PURCHASED POWER 423344583 POWER GENERATION 97867536 TRANSMISSION EXPENSE 28060703 UNRELATED BUS. INC. TAX 1785 26962312 682961891 42198122 79038071 72148353 35288047 2675965 3413758 48221449 63612766 1127016465 224191355 425533116 902825110 16136340 15220813 105370 93762 607018715 1099492327 57003715 42418456 396998817 877297050 2409824 11310154 456412356 931025660 X 0 0 5929429 5929429 144676930 162537238 150606359 168466667 607018715 1099492327 X 37105 17823203 X X 0 1 X 0 0 38639527 38639527 484588459 11509776 473078683 359288497 150034639 209253858 244499982 62646940 181853042 902825110 ACCUMLATED PROVISION FOR POST-RETIREMENT BENEFITS 935680 ACCRUED PROPERTY TAXES 774172 RATE REFUND (SHORT TERM) 3664877 MEMBER DEPOSITS 5935425 11310154 X 675334240 0 675334240 7664756 7664756 682998996 657384979 0 657384979 25576912 25576912 682961891 PART X, LINE 2: THE COOPERATIVE FOLLOWS THE PROVISIONS OF UNCERTAIN TAX POSITIONS AS ADDRESSED IN FASB ACCOUNTING STANDARDS CODIFICATION 740-10-65-1. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS), OR OTHER STATE TAXING AUTHORITY, AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: PARTNERSHIP PASS-THROUGH NET K-1 INCOME 37,105. EXPENSE RECLASSIFIED FROM NON-OPERATING MARGINS 7,627,651. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 17,949,261. EXPENSE RECLASSIFIED FROM NON-OPERATING MARGINS 7,627,651. PART VIII: THE AMOUNT OF INVESTMENTS - PROGRAM RELATED ON FORM 990, PAGE 11, PART X, LINE 13 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART VIII HAS BEEN LEFT BLANK. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. PART XI, LINE 4B: FORM 990 IS REPORTING THE INVESTMENT INCOME REPORTED TO THE COOPERATIVE ON SCHEDULE K-1. THE AUDITED FINANCIAL STATEMENTS ARE REPORTING THIS INVESTMENT UNDER THE COST METHOD OF ACCOUNTING AND ONLY REPORTING INCOME WHEN DISTRIBUTIONS ARE RECEIVED. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID OR ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". 0 TEXAS ELECTRIC COOPERATIVES 1122 COLORADO STREETS 24TH FLOOR AUSTIN TX 78701 741007829 CORPORATION 18900 0 YOUTH TOUR SPONSORSHIP - 5 STUDENTS 1 X X 0 0 0 DAVID NAYLOR PRESIDENT/CHIEF EXECUTIVE 745213 0 15673 0 51862 0 42900 0 41118 0 896766 0 0 0 DAVID BRAUN CHIEF FINANCIAL OFFICER 391027 0 10096 0 38840 0 42900 0 39252 0 522115 0 0 0 STEPHEN GEIGER CHIEF OPERATING OFFICER 380885 0 9904 0 27098 0 42900 0 39142 0 499929 0 0 0 CHASE SNUFFER CHIEF INFORMATION OFFICER 378691 0 9615 0 27911 0 42900 0 39142 0 498259 0 0 0 CHRISTOPHER ANDERSON GENERAL COUNSEL 378691 0 9615 0 5087 0 42900 0 39142 0 475435 0 0 0 JOHNNY ALRID DIRECTOR OF INFO SECURITY 254999 0 5481 0 15864 0 35449 0 38047 0 349840 0 0 0 JENNIFER PULLIAM ASST. GENERAL COUNSEL 267366 0 5606 0 2401 0 35625 0 38515 0 349513 0 0 0 CHRISTIAN NAGLE DIRECTOR OF POWER SUPPLY 264500 0 6731 0 766 0 35260 0 38047 0 345304 0 0 0 STEPHANIE WEEKS CONTROLLER 216146 0 5769 0 2901 0 28849 0 37343 0 291008 0 0 0 FRANK OWENS DIRECTOR OF COMPLIANCE 212453 0 4362 0 3242 0 28186 0 37656 0 285899 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE COOPERATIVE HAS 4 BOARD MEMBERS, AND 4 ALTERNATE BOARD MEMBERS. EACH ALTERNATE REPRESENTS THE SAME ORGANIZATION FOR WHOM THEY ARE THE ALTERNATE. ALTERNATES ONLY VOTE IF THEIR REGULAR BOARD MEMBER IS NOT IN ATTENDANCE. FORM 990, PART VI, SECTION A, LINE 2 A BUSINESS RELATIONSHIP EXISTS BETWEEN DAVID MCGINNIS, DIRECTOR, AND DAVID NAYLOR, PRESIDENT/CEO. BOTH SERVE ON THE BOARD OF ALLIANCE FOR COOPERATIVE ENERGY SERVICES POWER MARKETING, LLC (ACES) AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE WHOLESALE POWER AND TRANSMISSION SERVICES AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE EACH APPOINT A REPRESENTATIVE TO SERVE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, OFFICERS AND EMPLOYEES ARE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM. IF POLICIES NEED TO BE UPDATED, THEY ARE DRAFTED AND THEN REVIEWED WITH LEGAL COUNSEL BEFORE PRESENTATION TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S PRESIDENT/CEO. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES THROUGHOUT TEXAS AND THE NATION. THE BOARD AND THE PRESIDENT/CEO USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES THROUGHOUT TEXAS AND THE NATION. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. AUDITED FINANCIAL STATEMENTS ARE PROVIDED TO POWER PROVIDERS, MEMBERS AND LENDERS AS REQUIRED BY AGREEMENTS WITH EACH. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. EMPLOYER CONTRIBUTIONS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF THE PLAN. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, VISION AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. IN ADDITION TO THE ABOVE PENSION PLAN, THE COOPERATIVE ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. FORM 990, PARTS VI & VII: THE COOPERATIVE ANNUALLY PROVIDES EACH DIRECTOR AND EMPLOYEE OFFICER A QUESTIONNAIRE AND TIME LOG. THE COMPLETED QUESTIONNAIRES AND TIME LOGS ARE USED TO COMPLETE THE APPLICABLE QUESTIONS ON THE FORM 990 PERTAINING TO BUSINESS RELATIONSHIPS AMONG DIRECTORS, OFFICERS, AND KEY EMPLOYEES, AS WELL AS TO DETERMINE IF THERE ARE ANY TRANSACTIONS WHICH MUST BE REPORTED IN DETAIL ON SCHEDULE L - "TRANSACTIONS WITH INTERESTED PERSONS". IF THE COOPERATIVE WAS UNABLE TO OBTAIN A COMPLETED QUESTIONNAIRE AND/OR TIME LOG, THE COOPERATIVE RELIED UPON THE COMPLETED INFORMATION FOR THE PRIOR YEAR. FORM 990, PART VIII, LINE 2: PATRONAGE DIVIDENDS RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX: THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART IX, LINE 24E: OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $23,231,840 LESS: RECLASS OF DONATIONS TO PART IX, LINE 1 (65,679) LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (47,761) LESS: RECLASS OF LABOR TO PART IX, LINES 5&7 (5,675,996) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (2,346,131) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990 $15,078,273 OPERATING TAXES 4,256,388 RECLASSED OTHER OPERATING LOSS FROM SUB 7,627,651 TOTAL OTHER EXPENSES PER FORM 990, PART IX, LINE 24E $26,962,312 FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 9,852,714 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (47,761) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (412,296) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,223,949 PLUS: SALARIES AND WAGES CAPITALIZED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 892,788 TOTAL WAGES ACCRUED AND/OR PAID $11,509,394 FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2023 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 17,949,261. OTHER COMPREHENSIVE INCOME - POST RETIREMENT HEALTH BENEFITS -88,953. BOOK/TAX DIFFERENCE ON PASS-THROUGH PARTNERSHIP INVESTMENT -37,105. FORM 990, PART XII, LINE 2C: THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. RAYBURN ENERGY STATION LLC PO BOX 37 ROCKWALL TX 75032 751668526 POWER GENERATION TX 208796786 461800008 RAYBURN COUNTRY ELECTRIC COOPERATIVE INC REC CARES PO BOX 37 ROCKWALL TX 75032 923958782 CHARITABLE ORGANIZATION TX 501(C)(3) LINE 7 RAYBURN COUNTRY ELECTRIC COOPERATIVE INC 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 REC CARES N N/A - LESS THAN $50,000 REC CARES O N/A - LESS THAN $50,000 REC CARES P N/A - LESS THAN $50,000