Slope Electric Cooperative Inc

“Innovative energy alliance is a separate llc formed by four electric cooperatives in the state of north dakota to provide management and advisory servcies to the four cooperatives. Slope electric cooperative has hired innovative energy alliance to provide management, human resources and information services.”

“Individuals and entities receiving electrical power from the cooperative are members.”

“All members may vote. Members elect the entire board of directors.”

“At the annual meeting, all bylaw changes must be approved by the members and the members may vote on motions concerning the operations of the cooperative.”

“A completed 990 is reviewed at a monthly board meeting and accepted by the board prior to filing.”

“All directors are required to annually sign off a conflict of interest and update the other board members any time a conflict arises.”

“Costs for management were compared to state averages, prior wages, and approved by the full board after board deliberation. Pay is reviewed annually. Changes are based on merit, cpi, and comparative wages. Board of directors must approve these changes. The payroll changes for other key employees are based on the same criteria as ceo.”

“The organization makes its form 1024 and form 990 available upon request.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Annual financials are presented at the annual membership meeting each year in june. Governing documents are made available to each member when they initially become a member.”

“Don franklund, chris baumgartner, and travis kupper are employees of innovative energy alliance, a seperate unrelated entity that provides management services to rural electric cooperatives in north dakota.”

“Retirement of capital credits -469,597. Allocated capital credits 2,894,702. Rounding 3.”

“There was no change in the oversite or selection process of the independent auditors. The full board of directors reviewed and approved the independent auditors.”

“The amount of $2,894,702 on this line is for patronage dividends. The cooperative has interpreted patronage dividends to mean the amount of capital credits that were allocated to members in the current year.”

“All other expenses is a negative balance due to $1,500,606 of salaries and benefits included in other expense categories and also being capitalized as part of the construction/repairs to the power systems throughout the year.”