Butler Rural Electric Coop Inc

“Classes of members or stockholders of butler rural electric cooperative inc are comprised of members who are any person whether a natural person or a firm association corporation partnership body politic or subdivision thereof who receive electric service from the cooperative agree to comply with and be bound by the articles of incorporation and code of regulations by the cooperative any rules and regulations and policies adopted by the board fo directors”

“The annual meeting of the members shall be held each year at such a time and place selected by the board and which shall be designated in the notice of the meeting for the purpose of reporting the results of the election of trustees passing upon reports for the previous fiscal year and transacting such other business as may come before the meeting. It shall be the responsibility of the board to make adequate preparations for the annual meeting. Failure to hold the annual meeting at the designated time shall not work as forfeiture of dissolution of the cooperative. In the event that such annual meeting is not held for any reason all matters to be attended to will be considered at the next annual meeting the date and time to be designated by the board of trustees.”

“Each year board members are required to disclose any conflict of interest by signing a statement of non-conflict. If there is a conflict of interest it will be evaluated on a case-by-case basis and dealt with in an appropriate manner upon the advice of legal counsel.”

“The cooperative uses the national rural electric cooperative associations compensation survey to assist in the decision by the board of trustees on the compensation of the general manager the decision is made each december during the general managers employee performance evaluation. The evaluation is a written and oral review made by the board of trustees to the general manager. This survey is also used for other officers or key employees of the cooperative. The salary for other officers and key employees is determined by the general manager.”

“The governing documents of the cooperative are given to each member in written form and available on the cooperatives website. At the time of membership the conflicts of interest policy is available upon request. The audited financial statements are published each year in the ohio cooperative living magazine after the annual audit by an independent auditing firm. This magazine is distributed monthly to each member of the cooperative.”

“| Description:, Explanation:, Amount:| CURRENT YEAR MARGINS, OTHER CHANGES IN NET ASSETS, $2294911| INSREASE IN MEMBERSHIPS, OTHER CHANGES IN NET ASSETS, $1390| RETIRED PATRONAGE, OTHER CHANGES IN NET ASSETS, $-2039598| RE-ALLOCATION OF UNCLAIMED FUNDS, OTHER CHANGES IN NET ASSETS, $136725| INCREASE IN PATRONAGE PAYABLE ACCOUNT, OTHER CHANGES IN NET ASSETS, $-1802|”