Central Electric Cooperative Inc

“The organization has one class of members.”

“Members elect the board of directors by district.”

“Member approval is required for bylaw changes or the sale of 10% or more of the cooperative's property.”

“The organization does not have committees with authority to act on behalf of the governing body.”

“The form 990 will be reviewed with the full governing board at a board of directors meeting prior to filing the 990.”

“Directors and employees of the cooperative are covered by the conflict of interest policy. The officers and directors annually disclose the interests that could result in conflicts. Any known conflicts are reviewed at a board of directors meeting. The general manager and board president shall ensure the enforcement of the policy.”

“The process for determining compensation for the general manager includes review and approval by the board of directors and use of comparability data. The minutes include the final decision for compensation of the general manager. All other employees, including the manager of finance and administration, go through an annual performance review. The general manager reviews and approves compensation for all employees. The overall wage and salary plan is approved by the board. The process was last undertaken in 2018.”

“This information is provided to the cooperative's members via a new member packet or in the annual report.”

“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.”

“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.”

“Retirement of capital credits -1,247,275. Capital credits allocated 4,675,088.”