Pittsburgh Allegheny County Thermal Ltd

“The organization is a cooperative which produces and sells steam heat to its members. Accordingly, the cooperative is composed of members/users.”

“The organization is a cooperative which produces and sells steam heat to its members. The members of the cooperative elect the board of directors which governs the organization.”

“The board of directors is comprised of the largest users/members of the organization. Under the bylaws of the organization, the board of directors maintains the authority to authorize most general business decisions for the organization. A significant decision, such as the purchase or sale of a major asset or the entire organization would require presentation to the general membership for approval.”

“Management of the organization reviews the form 990 prior to the filing. The preparer of the form 990 provides a preliminary/draft copy of the form 990 to management. After the review process, the preparer and management meet to discuss and evaluate any questions that have been raised during the review process. Adjustments, if any, are made to the form 990, and it is presented for final review, signature, and filing.”

“The organization through its board of directors and management, regularly monitors potential conflicts of interest. If a potential conflict of interest is discovered, appropriate action is taken to eliminate the conflict.”

“The chairman of the board of directors chairs the compensation committee. Annually, he evaluates and determines compensation adjustments, if any. The chairman reviews self evaluations and provides an external evaluation of key employees including management of the organization. This process is contemporaneously documented and discussed with the compensation committee and the entire board of directors.”

“The organization provides, upon request, copies of its various governing documents, policies, and financial statements to the respective party via mail or in person at the corporate offices.”

“During fiscal year 2017, the organization restated its net asset balance reported as of may 31, 2015 and 2016 to 1) adjust certain future plant repair and maintenance activity previously accrued as contingent liabilities and 2) to record compensated absences not previously reported. The total restatement as of may 31, 2015 was $6,273,087. The restatement had an effect of ($372,346) for the fiscal year 2016 activities, resulting in a restated net asset balance of $5,900,741 at may 31, 2016.”