tri-county electric rural living newsletter

September & October 2015Vol. 19 • No. 1

A

2015ANNUAL REPORT

Photo reprinted with permission. © Copyright NRECA

Why you should attend our annual meetingBy Malcolm V. Page, Board President, and Julius Hackett, General Manager

It's that time of year again: annual meeting time! On behalf of Tri-County Electric Cooperative, we'd like to personally invite you to join us on Saturday, Sept. 19, 2015, at Van H. Priest Auditorium on the campus of North Florida Community College in Madison, Fla. We look forward to gathering with you — members of the co-op community — to catch up, hear what you have to say, and enjoy some refreshments and fellowship.

This event is not only a chance to visit with members of our co-op community, it's also a great opportunity to learn about programs offered by your cooperative and get to know your co-op staff. Our annual meeting makes it possible for us to gather feedback from you by providing a forum where you can let us know how we can better serve you and your family.

This is an occasion to discuss and learn more about the issues affecting our local communities. It's also an opportunity for you to exercise one of the greatest benefits of being a member of an electric co-op, by voting for the upcoming year's Board of Directors.

We are not owned by far-away investors or run by an appointed Board of Trustees. We are run by a democratically elected Board of Trustees — a board that is given the privilege to serve because of your vote.

Our trustees are members of your community. They are concerned with the issues you face every day because they face them, too. And don't forget — all members of TCEC are eligible to run for the board. That includes you!

A democratic and open election is one of the many elements that make our electric cooperative stand out from other utilities. Having a voice in who makes the major decisions that directly affect your life and your family is a right we all share as Americans. We all vote for our state and federal Congressional representatives, but not every American has the right to vote for those who will represent community interests within their electric utility. You have that right, so why not exercise it?

Rest assured, no matter what happens, we remain dedicated to providing you with safe, reliable and affordable electric service, but we encourage you to take part in helping us improve how we deliver that service. So make it a point to join us on Sept. 19, 2015, at our annual meeting. We promise we will make it worth your while!

Julius HackettMalcolm V. Page

2 September & October 2015

Tri-County Electric Cooperative, Inc. Official Notice of Annual Meeting

The Annual Meeting of the members of Tri-County Electric Cooperative, Inc. will be held on Saturday, Sept. 19, 2015, at Van H. Priest Auditorium located on the campus of the North Florida Community College in the city of Madison, Fla. Registration begins at 9:00 a.m., and the business meeting will convene at 10:00 a.m.

The following matters will be brought before and considered at this Annual Meeting.

I. Any business listed in Section 8 of Article III of the Bylaws of Tri-County Electric Cooperative, Inc.

II. At this Annual Meeting, Trustees are to be elected from districts 1, 2 and 4 to serve for a term of three (3) years. The following members have been nominated, pursuant to the bylaws of the Cooperative, as candidates for Trustee of the districts indicated.

District No. 1 . . . . . Junior Smith District No. 2 . . . . . Robert A. Dodd District No. 4 . . . . . George Webb

III. Proposed Amendments to the Bylaws of Tri-County Electric Cooperative, Inc.

Amend Article III, Meetings of Members Section 7, Nomination and Election of Trustees

(a) Nomination at District Meetings. Not less than thirty days nor more than sixty days before any meeting at which trustees are to be elected, the Board of Trustees shall call a separate meeting of the members of each district at a suitable place in such district for the purpose of selecting candidates for trustee to represent the members located within such district. The notice of such meeting shall be delivered to each member located in such district as provided in Section 3 of this Article and shall indicate the district to which such member belongs. The notice shall state that nominations for trustees are to be made at the meeting. The meeting shall, however, be open for discussion of any other matters pertaining to the business of the Cooperative, regardless of whether or not such matters were listed in the notice of the meeting, and recommendations with respect thereto may be submitted to the Board of Trustees or the entire membership.

Any member who intends to seek a nomination to be a candidate for trustee (including incumbent trustees) must notify the Cooperative in writing at its headquarters in Madison, Florida at least 21 days before the district meeting at which nominations for trustee are to be made. After receiving such written notice, the Cooperative will

confirm that the member is a resident of the district for which he/she intends to be a candidate for trustee, and is otherwise qualified to be a trustee. In the event that the member is not qualified to be a trustee, the Cooperative will notify the member of this in writing prior to the district meeting at which nominations for trustee are to be made.

The district meeting shall be called to order by the trustee representing the district or by another designated representative of the Board of Trustees, or, in his absence, by any member residing within the district. The members shall then proceed to elect a chairman, who shall be someone other than a trustee, and who shall appoint a secretary to act for the duration of the meeting. Fifteen members residing in the District present at such duly called district meeting shall constitute a quorum. Members of other districts present at the meeting may be heard but shall have no vote. Nominations for candidates for trustee shall be made from the floor at the meeting, and any member residing in the district shall have the right to nominate one candidate. The meeting shall remain open for nominations until no further nominations are forthcoming. Candidates must be members residing in the district and must possess the qualifications for trustee specified in Section 2 of Article IV of these bylaws.

Voting shall be by ballot. Each member may vote for one candidate. If more than one candidate is nominated, the two candidates receiving the highest number of votes shall be declared the official candidates of the district. The minutes of such district meeting shall set forth, among other matters, the name of each person nominated at the meeting and the number of votes received by each, and shall specify the two official candidates of the district. A certified copy of the minutes, signed by the secretary and the chairman of the district meeting, shall be delivered to the Secretary of the Cooperative within five days after such district meeting.

**** **** ****

[Additions are indicated by underline; deletions by strikeout]IV. A number of valuable prizes will be given away at

this meeting and all members are urged to attend this Annual Meeting of the Cooperative.

THIS OFFICIAL NOTICE OF ANNUAL MEETING DATED this 30th day of August 2015.

Albert Thomas, Jr., Secretary, Tri-County Electric Cooperative, Inc.

The 74th Annual Meeting of the members of Tri-County Electric Cooperative, Inc. was held Saturday, Sept. 20, 2014, in Van H. Priest auditorium on the campus of North Florida Community College in Madison, Fla. Registration began at 9:00 a.m. and the Encore Band entertained while members registered their attendance.

The meeting was called to order by President Malcolm V. Page. Mr. Page welcomed the members present and asked for a round of applause for the Encore Band.

Tri-County Electric Cooperative employee, Mr. George Webb, Manager of Member Service and Administration, opened the meeting with prayer.

Mr. Page led the membership in the Pledge of Allegiance to the American flag.

Mr. Page introduced the guests present as follows: Mrs. Lisa Johnson, Ms. Jo Fuller, Ms. Trudy Novak, Mr. Jim Frauen, Ms. Jennifer Wagner, and Ms. Leigh Hester with Seminole Electric Cooperative, Inc.; Mr. Bill Willingham, Florida Electric Cooperatives Association; Mr. Jeffrey Brewington, General Manager of Glades Electric Cooperative and Mrs. Michelle Brewington; Mr. Ronnie Moore, Madison County Commissioner, District 3; Mr. Benjamin "Benny" Bishop, Jefferson County Commissioner, District 1; Ms. Betsy Barfield, Jefferson County Commissioner, District 4; Sheriff Ben Stewart, Madison County Sheriff's Office; Mr. Gary Calhoun, Madison Police Chief; Mr. Tim Bennett, Madison City Manager; Ms. Judy Townsend, Madison City Mayor; Mr. Jerome Wyche, Madison County Solid Waste & Recycling Director; and Mr. John McHugh, Aucilla Solid Waste & Recycling Director.

Mr. Page introduced the Board of Trustees of the Cooperative as follows: Mr. Junior Smith, Mr. Bobby Dodd, Mr. Neal Brown, Mr. Bobby Harper, Mrs. Catherine Bethea, Mr. Gary Fulford, Mr. Albert Thomas Jr., Mr. Elmer Coker, and himself: Mr. Page. He further introduced General Manager Julius Hackett and Attorney Jeff Wahlen.

Mr. Page asked for a round of

applause for the guests and Trustees. Mr. Page addressed the membership

by taking them back to the days before there was electricity, when our rural ancestors were using kerosene lamps at night and wood was their energy source and how with the signing of the Rural Electricification Act in 1936 our ancestors knew the possibility of having power could transform their lives and the lives of their children. He remarked that "we are all here today as a result of those hopes and dreams." He reported there were approximately 493 members in the Cooperative's first year of operation and today it has grown to serve more than 17,000 meters.

Mr. Page recognized and asked for a round of applause for the employees of the Cooperative who work to keep the lights on.

In closing he thanked the members for attending the Annual Meeting and assured the membership their Cooperative's focus remains on powering our communities, empowering our members, and improving member's lives.

General Manager Hackett spoke of his late father who grew up in Greenville, Miss., and how his father's family's lives were forever changed when electricity came into their home. He remarked that experiences like his father's occurred all over rural America when local REA turned the lights on. Mr. Hackett commented how our younger generation needs are different from past generations, they require services that are convenient, responsive, affordable and fast. Today our Cooperative is required to meet the needs of all our generations and keeping the lights on in our small rural territory can be challenging. We are faced with frequent thunder storms, costal gulf exposure, animal outage calls and dense tree covering. Our Board of Trustees recognizes the importance to fund these high performance maintenance programs and line construction projects to continue to provide good customer service to our members.

Mr. Hackett gave details of several projects during the past year the Cooperative has worked on that included field inspections and removal of dead or dangerous trees that threatened lines,

inspection and changing out of poles from the Perry substation, and side trimming in northern Madison County into eastern Jefferson County. Major upgrades have been done to strengthen main feeders that allow us to reroute power when the primary lines are out. He stated some of the more high profile projects included upgrades to the Madison substation lines down Hwy. 53 to the interstate, work at the Boyd substation in Taylor County up Hwy. 221 to Shady Grove, and the rebuilding of the lines north of Greenville near the Ashville community.

Mr. Hackett reported, in spite of a slow growing economy, the Cooperative continues to move forward with investments to improve reliability for our members. The Board of Trustees recently completed a strategic planning session and slightly adjusted our priorities in addition to focusing on controlling costs and reliability, and rolling out programs to help our members control their electric bill costs. They added initiatives to increase visibility by participating in community activities such as United Way, Relay for Life, and student mentoring with a focus on more of a leadership role and not just participation in these community projects. Our members will see Cooperative employees Stephanie Carroll and Kaitlynn Passmore co-chairing the Relay for Life program this year.

Mr. Hackett noted the Cooperative is including a wide range of communication methods to not only tell our story, but to keep our members informed on challenges the Co-op is facing, and initiatives designed to allow us a higher level of engagement with our members whose help we need to lobby our elected officials in matters that affect our Cooperative. Mr. Hackett stated that our Cooperative is on the front lines to push back proposed EPA regulations called the "Clean Air Act" that will increase the costs of electricity and jeopardize reliability as it takes aim at reducing carbon dioxide emissions from coal power plants by 38% by 2030. The Clean Air Act jeopardizes future valuable coal power-generating resources that have decades of useful life remaining and

Tri-County Electric Cooperative, Inc. 74th


presently operate in an environmentally responsible manner. He encouraged the members to stand together in our fight for rational energy and environmental policies that won't impact affordability and reliability of our energy resources and stated, "Together, we can make a difference."

Mr. Hackett thanked the members for the opportunity to serve as general manager of the Cooperative and said, "I look forward to partnering with you to improve the lives of our members we serve and helping to make communities we serve a vibrant and driving place you can be proud of."

President Page introduced the guest speaker, Ms. Denise Ryan, motivational speaker.

Ms. Ryan entertained the membership with humorous stories using the theme, "To Keep the Flame."

Cooperative Attorney, Jeff Wahlen, called the business session to order.

As the first order of business, Mr. Wahlen called upon Mr. Albert Thomas Jr., Secretary-Treasurer of the Cooperative, for a report on the quorum. Mr. Thomas reported that the presence of 124 members of the Cooperative was necessary to constitute a quorum for the transaction of business and that at 10:00 a.m., 240 members of the Cooperative had officially registered their attendance. Mr. Thomas declared that a quorum was present for the transaction of business of the Cooperative.

The second order of business was the Official Notice. Mr. Wahlen announced that a copy of the Official Notice of the Annual Meeting of the members of the Cooperative was mailed to each member of the Cooperative at the address of such member as shown on the records of the Cooperative by depositing such notice in the United States mail at Blountstown, Fla, on Sept. 5, 2014, postage prepaid. No one objected to the form or time of the notice and reading of the notice was waived by motion duly made, seconded and carried.

Attorney Jeff Wahlen then stated that the next order of business was the reading of the minutes of the 2013 Annual Meeting of the members of the Cooperative and their approval by the

membership if the same were found to be in order. These minutes were published in the September Tri-County Annual Report and mailed to each member. Upon motion duly made, seconded and unanimously carried, the reading of the official minutes of the 2013 Annual Meeting of the members of the Cooperative was waived, and the minutes of such meeting as published in the Tri-County Annual Report and as set out in the official records of the Cooperative were approved.

Secretary-Treasurer Thomas was called upon to give the Treasurer's Report. Mr. Thomas reported that the Cooperative's 2013 Financial Report was prepared by Nichols, Cauley and Assoc., CPAs, with no instances of noncompliance reported. Mr. Thomas reminded the membership that the financial statements of the Cooperative were printed in the September 2014 Tri-County Annual Report which was mailed to each member for examination prior to the Annual Meeting. Mr. Thomas pointed out the most significant financial highlights for 2013 reflect a moderate increase in revenues of $37.1 million which resulted in net margins of $1.5 million for the year. He reported that the Cooperative had a light growth in energized meters with a year-end balance of 17,655 meters. He reported that the Cooperative continues to make major investments in the electric utility plant that includes technology upgrades, poles, wires, and substation equipment, resulting in a year-end balance of $80.4 million in total assets owned by the Cooperative. Further, overall, the financial condition of the Cooperative remains strong. As a display of this fiscal strength the Board of Trustees voted to retire $518,000 in capital credits last year and returned these dollars back to the membership.

Attorney Wahlen then stated that the next order of business was the election of Trustees from districts 7, 8 and 9 to serve for a term of three years or until the election of their respective successors.

District No. 7Mr. Albert Thomas Jr., being duly

selected as the district's official candidate at the duly called District Meeting of District No. 7, and no intention to make additional nominations from the floor for Trustee of District No. 7 being filed as required by the Bylaws of the Cooperative, was elected by a vote of acclamation.

District No. 8Mr. Malcolm V. Page, being duly

selected as the district's official candidate at the duly called District Meeting of District No. 8, and no intention to make additional nominations from the floor for Trustee of District No. 8 being filed as required by the Bylaws of the Cooperative, was elected by a vote of acclamation.

District No. 9Mr. Elmer Coker, being duly

selected as the district's official candidate at the duly called District Meeting of District No. 9, and no intention to make additional nominations from the floor for Trustee of District No. 9 being filed as required by the Bylaws of the Cooperative, was elected by a vote of acclamation for Trustee for District 9.

Attorney Wahlen then opened the floor for any unfinished business of the Cooperative which should come before the meeting. There being no unfinished business to come before the meeting. The floor was then opened for any new business of the Cooperative which should come before the membership of the Cooperative at this Annual Meeting.

There being no further business to come before the meeting. Upon a motion duly made, seconded and unanimously carried, the Annual Meeting of the membership of Tri-County Electric Cooperative, Inc. was duly adjourned at 11:12 a.m., Saturday, Sept. 20, 2014.

Thereafter, a drawing for prizes was held.

Malcolm V. Page Albert Thomas, Jr.President Secretary-Treasurer

Annual Meeting Minutes • Sept. 20, 2014

September & October 2015 5

6 September & October 20156 September & October 2015Photos reprinted with permission. © Copyright NRECA

District Meetings Held in July

Each year, Tri-County Electric Cooperative holds meetings in three of its nine districts for the purpose of electing Trustees to serve three-year terms. Meetings this year were held in districts 1, 2 and 4.

The District 1 meeting was held on Monday evening, July 27, 2015, at the Pinetta Elementary School, Pinetta, Fla. Mr. Junior Smith was elected without opposition.

The District 2 meeting was held on Tuesday evening, July 28, 2015, at the Steinhatchee Community Center, Steinhatchee, Fla. Mr. Bobby Dodd was elected without opposition.

The District 4 meeting was held on Thursday evening, July 30, 2015, at the Lee Community Center, Lee, Fla. Mr. George Webb was elected without opposition.

This Publication's Inspirational Moment

"For you have been called to live in freedom, my brothers and sisters. But don't use your freedom to satisfy your sinful nature. Instead, use your

freedom to serve one another in love."Galatians 5:13 (NLT)

Tom Waddail Retires After 30 Years of Service

We are at once delighted and disheartened to announce the retirement of Cooperative Foreman Tom Waddail on Aug. 3, 2015. Tom began his career at the Co-op as a groundsman, serving as a lineman and crew leader before settling into his role as foreman.

All of us will miss Tom's positive attitude and cooperative nature. His retirement is our loss, and we wish him all the best as he starts a new chapter in his life.


1940Tri-County Electric Cooperative, Inc. was formed and made its way through the rural counties with one three-phase feeder line from a substation at the Georgia state line

1950Purchased the Duval Street building which would house the Co-op’s headquarters for nearly 40 years

1968Perry district

office opened

1981District office of Greenville was relocated, Monticello and Steinhatchee offices were opened

1993Storm of the

Century occurred

leaving approximately ¾

of Cooperative members with

power outages

2008Energizing for Education Scholarship Program created, and year to date, over $18,600 has been allocated for scholarships to local students

2012Tropical Storm Debby

affected more than 9,100 members in all

four counties

2014$850,320 in Patronage Capital Credits refunded to members — largest refund in the history of the Cooperative

2014Boyd substation rebuilt, $1.3M project replacing aging infrastructure and increasing reliability

1948Members: 1,877

Avg. Bill: $6.13Avg. Usage: 125 kWh

Employees: 25Total Utility Plant:

$791,000

2015Members: 17,716Avg. Bill: $171.73Avg. Usage: 1359 kWhEmployees: 65Total Utility Plant: $82,546,631

2004Co-op experienced

damages caused by hurricanes Frances,

Ivan and Jeanne within one-month

period, affecting 60% of the members and

causing more than half-million dollars in

damages

201012,423 members

and 3,192 miles of energized line

19857,823 members and 2,316 miles of energized line

1990Co-op’s headquarters moved

to new office building on West Highway 90


8 September & October 2015Photos reprinted with permission. © Copyright NRECA

1940Tri-County Electric Cooperative, Inc. was formed and made its way through the rural counties with one three-phase feeder line from a substation at the Georgia state line

1950Purchased the Duval Street building which would house the Co-op’s headquarters for nearly 40 years

1968Perry district

office opened

1981District office of Greenville was relocated, Monticello and Steinhatchee offices were opened

1993Storm of the

Century occurred

leaving approximately ¾

of Cooperative members with

power outages

2008Energizing for Education Scholarship Program created, and year to date, over $18,600 has been allocated for scholarships to local students

2012Tropical Storm Debby

affected more than 9,100 members in all

four counties

2014$850,320 in Patronage Capital Credits refunded to members — largest refund in the history of the Cooperative

2014Boyd substation rebuilt, $1.3M project replacing aging infrastructure and increasing reliability

1948Members: 1,877

Avg. Bill: $6.13Avg. Usage: 125 kWh

Employees: 25Total Utility Plant:

$791,000

2015Members: 17,716Avg. Bill: $171.73Avg. Usage: 1359 kWhEmployees: 65Total Utility Plant: $82,546,631

2004Co-op experienced

damages caused by hurricanes Frances,

Ivan and Jeanne within one-month

period, affecting 60% of the members and

causing more than half-million dollars in

damages

201012,423 members

and 3,192 miles of energized line


1990Co-op’s headquarters moved

to new office building on West Highway 90


HistoricalHighlights


TRI-COUNTY ELECTRIC COOPERATIVE, INC.FLORIDA 28 MADISON

Balance SheetsDecember 31, 2014 and 2013

2014 2013 ASSETSElectric plant:

In service - at cost $ 89,580,920 $ 87,492,274Construction work in progress 3,376,866 1,325,099 92,957,786 88,817,373 Less - Accumulated provisions for

depreciation and amortization 24,801,088 23,258,924 68,156,698 65,558,449

Other investments:Investments in associated organizations 6,915,448 6,364,504

Current assets:Cash and cash equivalents:

Cash 1,772,296 4,620,111 Temporary investments 2,000,000 —

Accounts receivable (less allowance for accounts of $169,299 in 2014 and $94,731 in 2013) 1,519,893 1,728,610

Unbilled electric revenue 1,450,000 1,450,000 Materials and supplies (at avg. cost) 477,289 596,092 Other current assets 201,825 88,663 7,421,303 8,483,476

Deferred debits 53,182 64,324 Total assets $ 82,546,631 $ 80,470,753

EQUITIES AND LIABILITIESEquities

Membership fees $ 63,660 $ 63,445 Patronage capital 31,990,273 30,063,586 Other 462,245 128,551 32,516,178 30,255,582

Long-term debt, net of current maturities: Mortgage notes 42,935,956 42,941,249 Capital leases 128,339 118,719 43,064,295 43,059,968

Current liabilities:Current maturities of long-term obligations 2,114,055 2,137,806 Accounts payable 2,458,538 2,425,396 Consumer deposits 1,142,551 1,110,696 Other 1,221,238 1,451,529 6,936,382 7,125,427

Deferred credits 29,776 29,776 Total equities and liabilities $ 82,546,631 $ 80,470,753

TRI-COUNTY ELECTRIC COOPERATIVE, INC.FLORIDA 28 MADISONStatements of Revenues

Years Ended December 31, 2014 and 2013

2014 2013 ASSETSOperating revenues $ 40,063,147 $ 37,119,147 Operating expenses:Cost of power 24,425,563 22,914,341 Transmission 11,974 38,282 Distribution operations 2,239,804 2,195,459 Distribution maintenance 3,139,704 3,006,169 Consumer accounts 1,498,799 1,396,176 General and administrative 2,208,161 2,344,122 Depreciation and amortization 2,659,953 2,571,338 36,183,958 34,465,887 Operating margins before interest expense 3,879,189 2,653,260 Interest expense 1,790,612 1,713,130 Operating margins after interest expense 2,088,577 940,130 G & T and other capital credits 742,752 488,987 Nonoperating margins 89,797 70,355 Net margins $ 2,921,126 $ 1,499,472

Nichols, Cauley and Associates, LLC, from Warner Robins, Ga., audited the financial statements of Tri-County Electric Cooperative, Inc. as of and for the years ended Dec. 31, 2014, and 2013, and the related statements of revenues, changes in equities, and cash flows for the years then, and the related notes to the financial statements. The auditors have issued their report thereon dated March 5, 2015.

The audit was conducted in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require the auditor to perform the audit to obtain reasonable assurance about whether the Cooperative's financial statements are free from material misstatement.

The auditor report states "In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Tri-County Electric Cooperative, Inc. as of Dec. 31, 2014, and 2013, and the results of its operations and cash flows for the years then ended in accordance with accounting principals generally accepted in the United States of America."

Financial Report


TRI-COUNTY ELECTRIC COOPERATIVE, INC.FLORIDA 28 MADISONStatements of Cash Flows

Years Ended December 31, 2014 and 2013

2014 2013 Cash flow from operating activities:

Net margins $ 2,921,126 $ 1,499,472 Noncash income and expenses

included in net margins: Depreciation and amortization 2,881,803 2,779,561 G & T and other capital credits (742,752) (488,987)Provision for losses on

accounts receivable 50,055 24,549 Loss (gain) on disposal of plant (21,795) 1,904

Decrease (increase) in: Accounts receivable and unbilled

electric revenue 158,662 (220,266)Temporary InvestmentsOther current assets (113,162) 78,106 Deferred debits/credits 11,142 (49,438)

(Decrease) increase in: Accounts payable 33,142 129,359 Other current liabilities (230,291) 35,751

Cash flows provided by operating activities 4,947,930 3,790,011

Cash flows from investing activities: Construction and acquisition

of plant (5,135,973) (5,185,327)Plant removal costs (291,556) (368,146)Materials salvaged from retirements 33,584 53,759 Increase in materials and supplies 118,803 28,778 Proceeds from disposal of plant 64,154 5,813Proceeds from retirement of associated

organizations patronage 106,694 106,411 Cash flows used by

investing activities (5,104,294) (5,358,712) Cash flows from financing activities:

Retirements of patronage capital credits (660,745) (518,379)

Redemption of capital term certificates 85,114 —

Proceeds from long term debt 2,000,000 6,581,937Payments on long-term debt (2,031,320) (1,896,728)Payments on

capital lease obligations (116,570) (118,504)Advances on lines-of-credit — 8,683,383 Payments on lines-of-credit — (8,683,383)Increase (decrease) in:

Membership fees 215 235 Consumer deposits 31,855 4,214

Cash flows provided by financing activities (691,451) 4,052,775

Net change in cash and cash equivalents (847,815) 2,484,074

Cash and cash equivalents - beginning of year 4,620,111 2,136,037

Cash and cash equivalents - end of year $ 3,772,296 $ 4,620,111

Financial Report

Help the lineman get to the transformer to fix the power outage.


Tri-County Electric Cooperative, Inc.Board Meeting Notes - June 8, 2015

With all Trustees except one, key Cooperative personnel, the attorney, and guests present, the regular monthly meeting of the Board of Trustees of Tri-County Electric Cooperative, Inc. was held on Monday, June 8, 2015, in the Tri-County Electric Cooperative, Inc. headquarters office building located at 2862 West U.S. 90, approximately two miles west of the city of Madison, Fla. Reports to the Board included those of the Seminole Electric Cooperative May Board meeting, Florida Electric Cooperatives Association June Board meeting, Finance Committee, Policy Committee, Building and Land Committee, General Manager and attorney. The Policy Committee recommended and the Board approved revised Policy 528, "Social Media," and Policy 802, "Use of Co-op Business Equipment & Telecommunications Systems." Other action taken by the Board included the following: approval of the June 8, 2015, Board agenda

and the May 11, 2015, Board meeting minutes; 2015 first quarter charge offs; employee health insurance renewal for 2015-16; acceptance of Eridu substation construction bids; established the persons to accept notices for additional nomination for Trustee from the floor (Carol Timmons and Eileen Herndon); approval of changes to the bylaws for presentation to the membership at the Annual Meeting for their acceptance or rejection regarding the nomination and election of Trustees and consent agenda items as written and recommended by the General Manager which included the WPCA for June 2015 as established by resolution; RUS Form 7 for April 2015; the list of new members for April 24–May 20, 2015; Work and Accident Report for April 2015 along with the System Outage Report.


Board MeetingsThe regular monthly meeting of the Board of Trustees of Tri-County Electric Cooperative will be held the second

Monday in each month at 3:00 p.m. in the central office building of the Cooperative located at 2862 West U.S. 90, approximately two (2) miles west of the city of Madison.

Tri-County Electric Cooperative, Inc.Board Meeting Notes - July 13, 2015

With all Trustees, key Cooperative personnel and the Attorney present, the regular monthly meeting of the Board of Trustees of Tri-County Electric Cooperative, Inc. was held on Monday, July 13, 2015, in the Tri-County Electric Cooperative, Inc. headquarters office building located at 2862 West U.S. 90, approximately two miles west of the city of Madison, Fla. Reports to the Board included those of the Seminole Electric Cooperative, Inc. July Board meeting, Finance Committee, Policy Committee, Building and Land Committee, General Manager and Attorney. Action taken by the Board included the following: approval of the July 13, 2015, Board agenda and the June 8, 2015, Board meeting minutes; authorization for the General Manager to continue Property and General Liability Insurance, Automobile, Crime, EMF, Umbrella and Directors/Officers and Managers Liability Insurance with Federated Rural Electric Insurance Company and completion of the Application for Credit and Amendment to Amended and

Restated Promissory Note and Committed Revolving Line of Credit Supplement with CoBank. Other action taken by the Board included approval of the Attorney Engagement Agreement and consent agenda items as written and recommended by the General Manager which included the WPCA for July 2015 as established by resolution; RUS Form 7 for May 2015; the list of new members for May 21–June 28, 2015; and the Safety and Accident Report for May 2015 along with the System Outage Report. The following item was presented for the Secretary's signature: Certification of Mailing of District Meeting Notices for Districts 1, 2 and 4 on July 6, 2015. The Attorney updated the Board on pending legal matters. The Board President submitted a letter of resignation from the President position effective after the annual meeting on Sept. 19, 2015.



Back row, left to right:Bobby Dodd — District 2Catherine Bethea — District 5Neal Brown — District 3Junior Smith — District 1Elmer Coker — District 9George Webb — District 4

Front row, left to right:Albert Thomas, Jr., Secretary-Treasurer — District 7Malcolm V. Page, President — District 8Gary Fulford, Vice President — District 620226001

Your Board of Trustees

"Legend

DISTRICT 1 JUNIOR SMITH

DISTRICT 2 BOBBY DODD

DISTRICT 3 NEAL BROWN

DISTRICT 4 GEORGE WEBB

DISTRICT 5 CATHERINE BETHEA

DISTRICT 6 GARY FULFORD - VICE PRESIDENT

DISTRICT 7 ALBERT THOMAS, JR - SECRETARY - TREASURER

DISTRICT 8 MALCOLM PAGE - PRESIDENT

DISTRICT 9 ELMER COKER

GULF OF MEXICO

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MADISON COUNTY

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JEFFERSON COUNTY

TAYLOR COUNTY

JEFFERSON COUNTY

MADISON COUNTY

TAYLOR COUNTY

MADISON COUNTY

TAYLOR COUNTY

TAYLOR COUNTYDISTRICT MAP

JEFFERSONCOUNTY

MADISONCOUNTY

TAYLORCOUNTY

LEE

MADISON

GREENVILLE

MONTICELLO

CHERRYLAKE

PERRY

SHADYGROVE

STEINHATCHEE

CROSSCITY

Madison County is TCEC's largest service area. It covers 1,330 miles of energized line and has 6,792 meters.

Taylor County is TCEC's second-largest service area. It covers 923 miles of energized line and has 6,923 meters.

Jefferson County covers 680 miles of energized line and has 3,434 meters.

Dixie County covers 111 miles of energized line and has 549 meters.


Tri-County Rural LivingVol. XIX No. I

September & October 2015TRI-COUNTY RURAL LIVING, the voice of your member-owned, taxpaying electric utility, is published bimonthly—more if necessary—through the auspices of Tri-County Electric Cooperative, Inc. as a service to its member-owners. Postage is paid at Blountstown, FL.

BOARD OF TRUSTEESJunior Smith

D-1Bobby Dodd

D-2Neal Brown

D-3George Webb

D-4Catherine Bethea

D-5Gary Fulford

Vice President, D-6Albert Thomas, Jr.

Secretary-Treasurer, D-7Malcolm V. Page

President, D-8Elmer Coker

D-9

EDITORIAL OFFICES2862 West US Hwy. 90

Madison, FL • (850) 973-2285PUBLICATION COMMITTEE

Julius HackettGeneral ManagerEileen Herndon

Executive AssistantKaitlynn Culpepper

Community Relations SpecialistMichael Curtis,

Madison Media GroupWriterSTAFF

Jeff BrewerManager – Engineering

Stephanie CarrollManager – Corporate Services

Darrell TutenManager – OperationsWendell M. WilliamsManager – Finance

Send CHANGE OF ADDRESS NOTICES to:Tri-County Electric Cooperative, Inc.

2862 West US Hwy. 90Madison, FL 32340

www.facebook.com/TriCountyElectricFlorida

To Report Electrical Problems

or OutagesPlease Call:

850-973-2285 or

1-800-999-228524-HOUR SERVICE

THANK YOU

Baked Spaghetti Ingredients

• 16oz.boxangelhairpasta• 1½lb.groundchuck• 45oz.Ragumeatlessspaghettisauce(canuselessifyoupreferless

sauce)• Parmesancheese• 16oz.mildcheddarshreddedcheese• 1packagepepperoni• 1stickbutter

Directions1. Preheat oven to 350 degrees. Lightly grease a 9x13 inch baking dish.2. Bring a large pot of lightly salted water to a boil. Cook spaghetti in boiling water, stirring occasionally until cooked

through — about 8 minutes. Drain and add sliced butter.3. Cook ground chuck until meat is browned (season to taste). Drain. Stir in spaghetti sauce and simmer at least 15 mins.4. In baking dish, cover the bottom with half of the noodles, half of the sauce, and sprinkle with cheese. Repeat. 5. Top with pepperoni.6. Bake in preheated oven for 30 minutes or until the cheese is melted and lightly browned. 7. Sprinkle with Parmesan cheese and serve.

(Recipe courtesy of Kisha Tolar, Billing Assistant)

Looking for an easy efficiency upgrade? Additional insulation can make a difference! The Department of Energy estimates you can reduce heating and cooling needs up to 30 percent by properly insulating and weatherizing your home.

Source: energy.gov


Tri-County Electric Cooperative, Inc.2862 West US Hwy. 90Madison, FL 32340

Photo reprinted with permission. © Copyright NRECA

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