Jackson Electric Cooperative

“Jec is a member-owned electric distribution cooperative.”

“The members of each of nine (9) districts elects the board of directors every third (3rd) year at an annual district meeting.”

“The by-laws of jec define which transaction need a vote by the entire membership of jec. The main transactions would be a sale or dissoultion of jec and approval of action items at the annual meeting of the members.”

“After the form 990 is completed the return is distributed to the board of directors at a regular board meeting. The form 990 is reviewed section by section by the board. The board president then signs the completed form.”

“All board policies are reviewed on a two (2) year cycle by the board of directors.”

“The board reviews the national compensation survey (published by nreca). The document provides a starting place to determine salary. The board also reviews performance of the individual and determines if the individual is providing the necessary leadership to steer the cooperative in a direction to achieve the goals as established by the board.”

“SEE ABOVE NOTE.”

“The documents referred to in the question are always available to jec members upon verbal or written request either to the general manager or other staff.”

“There was a change in where electric revenue, capital credit allocations, and cost of power are reported on the 990 when compared to last year's return. Last year these items were netted together in other revenue on the statement of revenue. This year electric revenue and capital credit allocations are reported in program service revenue on the statement of revenue. Cost of power is now reported on the statement of functional expenses.”

“2014 margins allocated to members 1,457,331 capital credits retired 866,191”