Barron Electric Cooperative

“The cooperative is organized without capital stock and there is only one class of members with respect to voting rights.”

“Members nominate one or more candidates for a director position for each division of the cooperative. Members elect the board of directors at the meeting of the members.”

“Each member is entitled to one vote and no more upon each matter submitted to a vote at a meeting of the members.”

“The general manager and supervisor of finance and consumer accounting reviews a draft of form 990 before it is signed and filed. The board of directors did not review form 990 before it was filed.”

“A copy of the conflict of interest policy was given to each current employee and director as well as each new employee and director. The conflict of interest policy is a self-policing policy in which it is the responsibility of each employee/director to come forward with any potential conflicts whenever they occur. The whistleblower policy supports the enforcement of the conflict of interest policy by encouraging all employees/directors to report conflicts of interest and other questionable behavior.”

“The board of directors uses comparability data provided by nreca to determine the compensation of the general manager. The general manager approves the compensation of all other employees.”

“Documentation is available upon written request to the attention of the general manager.”

“Retirement of patronage capital -844,787. Gain on retirements 45,538. 2013 margins allocated 2,482,350.”

“No changes have been made since prior year.”

“The cooperative provides annual external financial statements (audited by an independent cpa firm) using a fiscal year-end of 11/30/xx.”

“The cooperative has interpreted patronage dividends paid to be the amount of current year margins that will be allocated to its members and therefore has presented this amount. The cooperative has or will allocate all operating and non-operating margins.”