Agralite Electric Cooperative

“Substantially all customers of the cooperative are members. Each member has one vote.”

“The membership elects the board of directors. There is one class of membership.”

“The membership must approve changes to the by-laws.”

“The cooperative has no committees with broad authority to act on behalf of the governing body.”

“The board of directors receive a copy of form 990 before it is filed. The form is reviewed and approved during a monthly board meeting.”

“The conflict of interest policy applies to board members, the general manager, and all employees. As potential conflicts arise, management makes inquiries and determines if a conflict exists. Management is responsible for the handling of all conflicts.”

“The general manager's salary is compared to other cooperatives through industry surverys and approved by the board of directors. This process was last undertaken on october 26, 2017.”

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

“Included in other compensation is the estimated current year increase or decrease in the actuarial value of the defined benefit plan for the general manager. The current year increase or decrease does not represent current year contributions to the plan. Rather, it is an estimate of the increase or decrease in the actuarial value of the plan as calculated by the plan administrator.”

“Retirement of capital credits -844,963. Change in other equities 32,110. Allocation of 2017 margins to members in 2018 1,506,743.”

“The cooperative has interpreted the instructions to part ix, line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the bylaws of the cooperative.”

“The labor, pension and payroll taxes reported on lines 6-10 are included in distribution expense, administrative & general expense and customer expense. Therefore, labor, pension and payroll taxes are shown as a reduction to other expenses on line 24e.”