People'S Cooperative Services

“Each customer is a member of the electric cooperative and has voting rights at the annual meeting.”

“Each customer is a member of the electric cooperative and may elect members of the governing body. Each member is allowed one vote.”

“Bylaw changes must be also approved by a vote of the membership.”

“The manager will review the 990 and conduct a review with the board before it is filed.”

“Directors and key employees answer a questionnaire regarding business relationships, family relationships and independence. Directors and employees with a conflict may face appropriate sanction.”

“The boards process for determining ceo compensation is based on results of a written performance evaluation completed by all board members, then summarized. Compensation is then determined by comparing regional salary levels for ceo's based on company size with current ceo's salary and performance. Compensation of officers and key employees are based upon an approved employee compensation administration policy and a compensation plan, both approved by the board of directors. The data used in the compensation plan is collected from the nreca national compensation survey.”

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

“Accumulated other comprehensive income 58,100. Patronage dividends allocated 2,260,705. Patronage capital retired -799,364. Other equities 60,870.”

“The cooperative's board of directors assumes responsibility for oversight of the audit of its financial statements and the selection of its independent accountant.”