Kankakee Valley Rural Electric

“Members of the remc consist of those whom receive electricity from the remc. They are considered owners of the remc and are entitled to a portion of the income.”

“The members elect the board of directors at an annual meeting depending on the district they live in.”

“Certain decisions to be made by the board of directors must be approved by the members.”

“Copies of the 990 are reviewed by the board before they are filed.”

“Our conflict of interest policy pertains to the directors and all employees. The ceo enforces the policy for the employees and the directors are responsible for the ceo and themselves. Depending on the extent of the violation, there could be disciplinary action taken or termination of employment. A review of each director's financial interest is completed annually as part of the compliance policies adopted by the board. The bylaws direct the manner in which the directors may be removed from office by the members. In addition, directors have adopted policies which expose themselves to the possibility of removal by the board for violations of conflicts of interest rules and other specified offenses against the cooperative's policies or criminal acts.”

“The ceo's raise is based on a board decision. Other key employees' raises are determined by examining the budget and then determining a raise percentage. The department heads recommend the raise amount, but it is subject to change by the ceo. The ceo determines the salaries for the top management based on guidelines set by the board in the budgeting process.”

“The tax returns are available upon request at the remc's office.”

“The governing documents, conflict of interest policy, and financial statements are available upon request to the public. In addition, the governing documents are also available online. Financial statements are available at the annual meeting.”

“Change in memberships 3,400. Patronage retirement -1,119,612. Unclaimed property 45,054.”