Washington County Rural Telephone Coop Inc

“The organization is a tax-exempt telephone cooperative. Customers who satisfy terms for membership contained in the bylaws are designated members.”

“The board of directors are elected at annual meeting of the cooperative's members.”

“The cooperative may not sell, mortgage, lease or otherwise dispose of or encumber all or any substantial portion in excess of ten percent (1o%) of its total assets unless such sale, mortgage, lease or other disposition or encumbrance is: a. Authorized at a meeting of the then total members by the affirmative vote case in person, without proxies, of at least two-thirds (2/3) of the total members of the cooperative; and b. Authorized by the holders of at least seventy-five percent (75%) of the outstanding indebtedness of the cooperative; and c. Proceeded by a notice of meeting at which such sale, mortgage, lease or other disposition or encumbrance is to be voted on.”

“The general manager presents form 990 that was prepared by the cpa firm to the board of directors before it is filed. If they have any questions, the general manager contacts the cpa firm preparer.”

“Compensation of the general manager is reviewed and approved annually by the board of directors. The board uses the national telecommunications cooperative association annual compensation & benefits survey as a source for comparability data. Decisions on compensation are documented in the board minutes.”

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Plant nonspecific 491,302. Corporate operations 198,099. Property tax 130,097. Long distance expense 37,971. Cost of equipment sold 20,352. Other miscellaneous expense 12,854. State taxes 9,971. Voice mail expense 5,661. Income taxes 1,574.”

“Patronage capital retired -26,022.”

“No changes in the process from the prior year.”