Chariton Valley Electric Cooperative Inc

“Cvec's articles of incorporation, article vii outlines membership in the cooperative. Members agree to purchase electric energy and comply with the articles and bylaws of the cooperative. A membership certificate is issued upon board approval to each new member or to joint members. There is currently no membership fee.”

“Cvec's 9 member board of directors is divided into 5 districts. Members vote for eligible candidates by mail-in ballot.”

“The cooperative may not sell, mortgage, lease, otherwise dispose of or encumber all or any substantial portion of property unless authorized at a meeting of members therof by the affirmative vote of not less than two-thirds of all the members of the cooperative.”

“An independent accounting firm prepares and reviews the 990. The 990 is then reviewed by management. Any questions or concerns management has are addressed and corrections or clarifications are made. The final 990 with all required schedules is then provided to all voting members of the board prior to filing.”

“Annually, and otherwise upon the seating of any new board member or hiring of any new employee, a disclosure of conflict of interest statement will be signed by each director or employee. It will be the responsibility of the board president to address any conflicts of interest and take appropriate action if any director of the cooperative has been deemed not adhearing to this policy. It will be the responsibility of the general manager to address any conflicts of interest and take appropriate action if any employee of the cooperative has been deemed not adhering to this policy. A director or employee shall remove himself or organization with which the director or employee is affiliated or has a financial interest.”

“The general manager requested salary comparability data from nreca. The general manager and h/r coordinator discussed salary considerations and authorized the annual salaries.”

“The board president requested salary comparability data from nreca. The full board of directors conducted a performance review, discussed salary considerations and authorized the annual salaries.”

“Cvec's governing documents are available upon request. The conflict of interest policy is provided annually to directors and employees. Financial statements are available upon member request, are incorporated into the annual report and are made available to each voting member prior to the annual meeting.”

“PATRONAGE CREDITS ALLOCATED - 648390; PATRONAGE CREDITS RETIRED - -327707; CHANGE IN OTHER CAPITAL - 83350; EQUITY EARNINGS A PRIME LLC - 165; Total - 404198;”